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HOUSE DOCKET, NO. 1066 FILED ON: 1/14/2025
HOUSE . . . . . . . . . . . . . . . No. 301
The Commonwealth of Massachusetts
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PRESENTED BY:
Daniel J. Hunt
_________________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to industrial development finance authorities.
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PETITION OF:
NAME:DISTRICT/ADDRESS :DATE ADDED:Daniel J. Hunt13th Suffolk1/14/2025 1 of 3
HOUSE DOCKET, NO. 1066 FILED ON: 1/14/2025
HOUSE . . . . . . . . . . . . . . . No. 301
By Representative Hunt of Boston, a petition (accompanied by bill, House, No. 301) of Daniel J.
Hunt relative to industrial development finance authorities. Community Development and Small
Businesses.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 231 OF 2023-2024.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Fourth General Court
(2025-2026)
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An Act relative to industrial development finance authorities.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Clause (l) of section 1of chapter 40D of the General Laws, as so appearing
2in the 2012 Official Edition, is hereby amended by striking out, in lines 72-73, the words “In
3any city or in a town subject to the provisions of clause (k) of subdivision (2) of section twelve,”.
4 SECTION 2. Clause (1) of section 1 of chapter 40D, as so appearing, is hereby further
5amended by striking out the sixth sentence and inserting in place thereof the following sentence:
6- “Bonds may be issued under this chapter to finance the costs of such facilities, including such
7costs paid prior to the authorization of such bonds as the board of directors shall approve.”
8 SECTION 3. Clause (l) of section 1 of chapter 40D, as so appearing, is hereby further
9amended by striking out the seventh sentence and inserting in place thereof the following 2 of 3
10sentence: -“Rental housing, including low and/or moderate income housing as defined in section
1120 of chapter 40B, or facilities rented primarily to transient guests shall be deemed an industrial
12enterprise within the meaning of this chapter.”
13 SECTION 4. Section 2 of chapter 40D, as so appearing, is hereby amended by adding to
14the end of the sixth paragraph the following sentence: “For the purpose of carrying out any
15project authorized by this chapter, a municipality acting by and through an industrial
16development financing authority or two or more contiguous municipalities acting by and through
17a consolidated industrial development financing authority shall have sole bond issuing authority
18for any project undertaken within the such municipality or consolidated municipalities".
19 SECTION 5. Section 9 of chapter 40D, as so appearing, is hereby amended by striking
20out, in lines 5-6, the words “Any bonds issued under the provisions of this chapter shall be
21secured by”, and inserting in place thereof the following words:- “The authority shall determine
22if the bonds issued under the provisions of this chapter require the appointment of a corporate
23trustee, if the authority so finds, it shall then authorize the execution of”.
24 SECTION 6. Section 10 of chapter 40D, as so appearing, is hereby amended by striking
25out, in lines 74-76, the words “including a receipt of a certificate of convenience and necessity
26from the Massachusetts office of business development”.
27 SECTION 7. Subsection (2) of section 12of chapter 40D, as so appearing, is hereby
28amended by striking out the first paragraph.
29 SECTION 8. Subsection (2) of section 12 of chapter 40D, as so appearing, is hereby
30further amended by striking out, in lines 18, 20, 22, the word “MIFA”. 3 of 3
31 SECTION 9. Subsection (2)(b) of section 12 of chapter 40D, as so appearing,is hereby
32amended by striking out, in line 31, the word “MIFA”.
33 SECTION 10. Section 12of chapter 40D, as so appearing, is hereby amended by striking
34out subsection (2)(k)..
35 SECTION 11. Section 12of chapter 40D, as so appearing, is hereby further amended by
36striking out subsection (2)(l).
37 SECTION 12. Section 13 of chapter 40D, as so appearing, is hereby amended by
38inserting after the word “deposited”, in lines 1-2, the following words: - “as approved and
39directed by the authority”.
40 SECTION 13. Section 15 of chapter 40D, as so appearing, is hereby amended by striking
41out, in lines 5, 6, 9, the word “trust” and inserting in place thereof the word “financing”.