§ 1 Declaration of legislative intent
§ 2 Definitions
§ 3 Executive office of transportation; duties
§ 4 Expenditure of funds; application fees and rents
§ 5 Contracts for financial assistance; limitations
§ 6 Powers and duties of secretary
§ 7 Railroad rights-of-way or related facilities; sale or disposition; commonwealth’s right of first refusal
§ 8 Surplus railroad-related materials and equipment; offer to freight railroads operating on in-state tracks owned by the commonwealth
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Terms Used In Massachusetts General Laws > Chapter 161C - Rail Transportation in the Commonwealth

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Personal property: All property that is not real property.