Establishes a Massachusetts Transportation Endowment Fund (MTEF) to support capital expenditures for mass transit improvements.

The bill establishes a Massachusetts Transportation Endowment Fund (MTEF) to support capital expenditures for mass transit improvements. Each year, a sum of at least $200 million will be transferred to the MTEF, which will operate as a permanent trust fund. Income from the fund can only be used for capital construction and improvements of mass transportation lines, stations, and facilities. A Capital Projects Approval Board (CPAB) of nine members will review potential capital projects, establish priorities, and oversee projects.

Establishes a Massachusetts Transportation Endowment Fund (MTEF) to support capital expenditures for mass transit improvements.

The bill establishes a Massachusetts Transportation Endowment Fund (MTEF) to support capital expenditures for mass transit improvements. Each year, a sum of at least $200 million will be transferred to the MTEF, which will operate as a permanent trust fund. Income from the fund can only be used for capital construction and improvements of mass transportation lines, stations, and facilities. A Capital Projects Approval Board (CPAB) of nine members will review potential capital projects, establish priorities, and oversee projects.