MA S2406

Creates a Massachusetts Transportation Endowment Fund (MTEF) with minimum annual transfers of $200 million to fund capital construction and improvements for mass transit lines, stations, and facilities

Once the fund principal exceeds $1 billion, the funding formula changes: annual contributions increase to $300 million, with half ($150 million) directed to capital expenditures and half to growing the endowment principal

Establishes a 9-member Capital Project Approval Board (CPAB) with appointees from the MBTA General Manager, Secretary of Transportation, Governor, State Treasurer, State Auditor, Senate President, House Speaker, Attorney General, and Governor's Council

Board members serve 5-year terms and are responsible for reviewing capital projects, establishing priority lists, and overseeing projects during construction and operation

Requires an annual public report detailing the fund's financial status and the CPAB's decisions from the previous year