Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

      SECTION 1. Chapter 29 of the General Laws is hereby
amended by inserting after section 2XX, inserted by section 42 of
chapter 127 of the acts of 1999, the following section: --
      
Section 2YY. There is hereby established and set up on the
books of the commonwealth a separate fund to be known as the
“For the Future of Nursing” Fund.  There shall be credited to said fund all revenues collected from the sale of "RN" distinctive registration plates issued pursuant to subsection (c) of section 2E of chapter 90, together with  any penalties, forfeitures, interest, costs of suits and fines collected in  connection therewith, less all amounts refunded or abated in connection  therewith, all as determined by the commissioner of revenue according  to his best information and belief, any appropriation, grant, gift or other contribution explicitly made to said fund; and any income derived from the investment of amounts credited to said fund. Amounts credited to said fund shall be available for expenditure by the Massachusetts Nurses Foundation, Inc.  for the purpose of recruiting and retaining a core of registered nurses through scholarships and grants to students of registered nursing programs and to registered nurses seeking academic advancement.  Selection criteria shall be established by the Massachusetts Nurses Foundation, Inc. and shall include the consideration of cultural diversity among fund recipients.  The registrar of motor vehicles shall provide an annual accounting of the amounts credited to said fund to the house and senate committees on ways and means and to the Massachusetts Nurses Foundation, Inc. There shall be an annual accounting of the expenditures made by the fund prepared by an independent financial firm and filed with the house and senate committees on ways and means and the Massachusetts Nurses Foundation, Inc., not later than December 31 of each applicable tax year.
 

       SECTION 2. Section 2E of chapter 90 of the General Laws,
as appearing in the 1998 Official Edition, is hereby amended by adding  the following subsection: -
      
(c) The registrar shall furnish, upon application, to owners of private  passenger motor vehicles who are duly licensed as a registered nurse under the provisions of chapter 112, section 80B, distinctive registration plates which shall display  on the face of said plate the abbreviation "RN”.  There shall be a fee imposed by the registrar of not less than $25 for such plates in addition to the established registration fee for private passenger motor vehicles, such fee being payable at the time of registration of such vehicle and at each renewal thereof.  The portion of the total fee remaining after the deduction of costs directly attributable to the issuance of such plates shall be deposited within 90 days of receipt thereof in the For the Future of Nursing Fund established by section 2YY of chapter 29.  Notwithstanding the provisions of any general or special law to the contrary, the registrar of motor vehicles shall make available the distinctive registration plates provided for in this act not later than June first, two thousand and two.