Outside Section 6

Establish Unified Carrier Registration Trust Fund

SECTION 6.   Chapter 10 of the General Laws is hereby amended by inserting after section 35CC the following section:-

          Section 35DD. There is hereby established and set up on the books of the commonwealth a separate fund to be known as the Unified Carrier Registration Trust Fund for commercial motor vehicle enforcement. There shall be credited to that fund all revenues received by the commonwealth from fees levied on motor carriers and related entities required by state or federal law to register with state transportation officials; from appropriations; from gifts, grants, contributions and bequests of funds from any department, agency or subdivision of federal, state or municipal government, and any individual foundation, corporation, association or public authority; or the revenue derived from the investment of amounts credited to the fund. The state treasurer shall not deposit the revenues in, or transfer the revenues to, the General Fund. The state treasurer shall deposit monies in the fund in accordance with section 34 and 34A of chapter 29 in the manner that will secure the highest interest rate available consistent with the safety of the fund. All funds credited under this section shall remain in the Unified Carrier Registration Trust Fund to be expended without further appropriation by the director of the transportation division of the department of public utilities for projects including but not limited to bus inspections, bus company safety audits, federal new entrant audits, railroad grade crossing safety investigations, and administrative support for any such programs, including the operation of the division. Funds in excess of those that may be retained by the commonwealth as determined by formula set by the uniform carrier registration board of the federal motor carrier safety administration may be transferred to a depository account established by that board.
 
 

Summary:
This section establishes a special fund for depositing revenues from interstate commercial motor vehicle registrations.