An Act to establish a Massachusetts Transportation Endowment Fund (MTEF)

This bill establishes the Massachusetts Transportation Endowment Fund (MTEF), a permanent trust fund to support capital improvements for mass transit systems like rail lines, stations, and facilities. It mandates an annual transfer of $200 million (rising to $300 million if the fund exceeds $1 billion), with income used solely for capital projects and principal growth. A nine-member Capital Projects Approval Board (CPAB), including officials like the MBTA General Manager and State Treasurer, will prioritize projects and oversee spending. The fund requires annual public reporting on its finances and project decisions.