{"id":1174,"date":"2013-08-27T16:50:00","date_gmt":"2013-08-27T16:50:00","guid":{"rendered":"https:\/\/www.sherin.com\/real-estate\/2013\/08\/27\/10-key-features-of-the-massachusetts-transportation-funding-legislation\/"},"modified":"2021-09-20T20:00:08","modified_gmt":"2021-09-20T20:00:08","slug":"10-key-features-of-the-massachusetts-transportation-funding-legislation","status":"publish","type":"post","link":"https:\/\/www.sherin.com\/real-estate\/2013\/08\/27\/10-key-features-of-the-massachusetts-transportation-funding-legislation\/","title":{"rendered":"10 Key Features of the Massachusetts Transportation Funding Legislation"},"content":{"rendered":"

The ULI Boston Infrastructure Council<\/a>, which I Co-Chair, has in recent years engaged in an effort to demonstrate to the real estate community and other business constituencies the economic impact of a robust regional transit system. In furtherance of this effort, in June 2012 the Council issued a report entitled \u201cHub and Spoke: Core Transit Congestion and the Future of Transit and Development in Greater Boston.\u201d This report examines the negative consequences for regional economic growth of not addressing capacity constraints in Boston\u2019s core transit infrastructure. This Report was a joint undertaking of the Dukakis Center at Northeastern University, A Better City, MASCO and ULI Boston and released concurrently with a study prepared by the MAPC.<\/p>\n

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The Hub and Spoke Report documented the congestion at the core of the transit system. Various segments of the Green, Orange, Red, and Silver Lines all currently exceed their capacity during portions of the day. The Report also demonstrated the need for additional capital spending to remedy increasing transit congestion which impedes future economic development in areas served by public transportation. A copy of the Report may be obtained at here<\/a>.<\/p>\n

As anticipated, the Massachusetts Legislature took up the issue of transportation funding in this legislative session. Both the House and Senate offered competing versions to Governor Patrick\u2019s transportation funding plan. Following initial passage of a compromise bill by the Legislature and subsequent rejection of the Governor\u2019s proposed amendments, the Legislature on July 24, 2013, overrode the Governor\u2019s veto of the transportation finance law. It has been estimated that this legislation will provide $800 million in net new tax revenue by 2018.<\/p>\n

Following is a brief summary of key features of the transportation funding legislation:<\/p>\n

A. Revenues generated from taxes:<\/p>\n