Section 19 Surtax Revenue Transportation Website

Subsection (a1/2) of said section 2BBBBBB of said chapter 29, as appearing in said section 52 of said chapter 140, is hereby amended by striking out the words "locations; provided, however, that annually, not later than October 31, the secretary for administration and finance shall submit a report to the joint committee on transportation detailing approved transportation projects funded during the prior fiscal year" and inserting in place thereof the following words:- locations; provided, however, that said increase in capacity shall not be used to support or fund, in whole or in part, a single transportation project with a total project cost, regardless of source, in excess of $1,000,000,000 unless the borrowing for the project is specifically authorized and approved by the general court after being proposed in the 5-year spending plan required by this paragraph; and provided further, that the Massachusetts Department of Transportation shall maintain a public website to track and monitor spending and progress on projects funded as a result of the increase in capacity to issue special obligation bonds or notes from the transportation income surtax revenue amount dedicated pursuant to this section. Annually, not later than October 31, the secretary of administration and finance shall submit a report to the joint committee on transportation and the chairs of the senate and house committees on ways and means detailing: (i) approved transportation projects funded during the prior fiscal year; (ii) a 5-year spending plan for the projects to be funded, in whole or in part, by special obligation bonds or notes issued by virtue of the increase in bonding capacity from the transportation income surtax revenue amount dedicated pursuant to this section; and (iii) the bonds or notes issued or scheduled to be issued.