|
|
 |
Budget Recommendations
|
|
Outside Section 60
|
|
|
|
Massachusetts Turnpike Merger
SECTION 60.
Chapter 29 of the General Laws, as amended, is hereby further amended by inserting the following new section:-
Section 2NNN. There shall be set up on the books of the commonwealth a separate fund to be known as the Turnpike Efficiency Fund, which shall not contribute to the calculation of the consolidated net surplus pursuant to section 5C of chapter 29 of the General Laws. There shall be credited to this fund all amounts paid to the commonwealth by the Massachusetts turnpike authority pursuant to sections 27 and 28 of chapter 81A, and any income derived from the investing of all amounts credited to the fund. Amounts credited to the fund shall be available for expenditure, subject to appropriation, by any executive office, department, agency, board, commission or other authority that enters into an agreement with the Massachusetts turnpike authority pursuant to section 27 of chapter 81A for the purpose of fulfilling its obligations under such agreement. Any remaining amounts credited to the fund shall be applied by the secretary of administration and finance, subject to appropriation, to make or reimburse (i) payments made by the commonwealth during any fiscal year pursuant to any contract for financial assistance between the commonwealth and the Massachusetts turnpike authority, which have not yet been fully reimbursed by said authority pursuant to section 28 of chapter 81A, (ii) payments made by the commonwealth during any fiscal year with respect to debt service on bonds or notes of the commonwealth issued to finance any costs of any portion of the metropolitan highway system, as defined in said chapter 81A, (iii) any other payments made by the commonwealth during any fiscal year with respect to any other costs of any portion of the metropolitan highway system, including without limitation, payments made under the contract between the authority and the commonwealth authorized under subsection (c) of section 12 of said chapter 81A, (iv) deposits into, the CA/T Open Spaces Maintenance Trust established pursuant to the authority provided by section 4F of chapter 7, and (v) any other payment made by the commonwealth during any fiscal year for a purpose permitted under Article LXXVIII of the Amendments to the Constitution.
|
|
|
|
