Massachusetts 2025-2026 Regular Session

Massachusetts House Bill H301 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1 of 1
2	2	HOUSE DOCKET, NO. 1066 FILED ON: 1/14/2025
3	3	HOUSE . . . . . . . . . . . . . . . No. 301
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Daniel J. Hunt
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act relative to industrial development finance authorities.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :DATE ADDED:Daniel J. Hunt13th Suffolk1/14/2025 1 of 3
16	16	HOUSE DOCKET, NO. 1066 FILED ON: 1/14/2025
17	17	HOUSE . . . . . . . . . . . . . . . No. 301
18	18	By Representative Hunt of Boston, a petition (accompanied by bill, House, No. 301) of Daniel J.
19	19	Hunt relative to industrial development finance authorities. Community Development and Small
20	20	Businesses.
21	21	[SIMILAR MATTER FILED IN PREVIOUS SESSION
22	22	SEE HOUSE, NO. 231 OF 2023-2024.]
23	23	The Commonwealth of Massachusetts
24	24	_______________
25	25	In the One Hundred and Ninety-Fourth General Court
26	26	(2025-2026)
27	27	_______________
28	28	An Act relative to industrial development finance authorities.
29	29	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
30	30	of the same, as follows:
31	31	1 SECTION 1. Clause (l) of section 1of chapter 40D of the General Laws, as so appearing
32	32	2in the 2012 Official Edition, is hereby amended by striking out, in lines 72-73, the words “In
33	33	3any city or in a town subject to the provisions of clause (k) of subdivision (2) of section twelve,”.
34	34	4 SECTION 2. Clause (1) of section 1 of chapter 40D, as so appearing, is hereby further
35	35	5amended by striking out the sixth sentence and inserting in place thereof the following sentence:
36	36	6- “Bonds may be issued under this chapter to finance the costs of such facilities, including such
37	37	7costs paid prior to the authorization of such bonds as the board of directors shall approve.”
38	38	8 SECTION 3. Clause (l) of section 1 of chapter 40D, as so appearing, is hereby further
39	39	9amended by striking out the seventh sentence and inserting in place thereof the following 2 of 3
40	40	10sentence: -“Rental housing, including low and/or moderate income housing as defined in section
41	41	1120 of chapter 40B, or facilities rented primarily to transient guests shall be deemed an industrial
42	42	12enterprise within the meaning of this chapter.”
43	43	13 SECTION 4. Section 2 of chapter 40D, as so appearing, is hereby amended by adding to
44	44	14the end of the sixth paragraph the following sentence: “For the purpose of carrying out any
45	45	15project authorized by this chapter, a municipality acting by and through an industrial
46	46	16development financing authority or two or more contiguous municipalities acting by and through
47	47	17a consolidated industrial development financing authority shall have sole bond issuing authority
48	48	18for any project undertaken within the such municipality or consolidated municipalities".
49	49	19 SECTION 5. Section 9 of chapter 40D, as so appearing, is hereby amended by striking
50	50	20out, in lines 5-6, the words “Any bonds issued under the provisions of this chapter shall be
51	51	21secured by”, and inserting in place thereof the following words:- “The authority shall determine
52	52	22if the bonds issued under the provisions of this chapter require the appointment of a corporate
53	53	23trustee, if the authority so finds, it shall then authorize the execution of”.
54	54	24 SECTION 6. Section 10 of chapter 40D, as so appearing, is hereby amended by striking
55	55	25out, in lines 74-76, the words “including a receipt of a certificate of convenience and necessity
56	56	26from the Massachusetts office of business development”.
57	57	27 SECTION 7. Subsection (2) of section 12of chapter 40D, as so appearing, is hereby
58	58	28amended by striking out the first paragraph.
59	59	29 SECTION 8. Subsection (2) of section 12 of chapter 40D, as so appearing, is hereby
60	60	30further amended by striking out, in lines 18, 20, 22, the word “MIFA”. 3 of 3
61	61	31 SECTION 9. Subsection (2)(b) of section 12 of chapter 40D, as so appearing,is hereby
62	62	32amended by striking out, in line 31, the word “MIFA”.
63	63	33 SECTION 10. Section 12of chapter 40D, as so appearing, is hereby amended by striking
64	64	34out subsection (2)(k)..
65	65	35 SECTION 11. Section 12of chapter 40D, as so appearing, is hereby further amended by
66	66	36striking out subsection (2)(l).
67	67	37 SECTION 12. Section 13 of chapter 40D, as so appearing, is hereby amended by
68	68	38inserting after the word “deposited”, in lines 1-2, the following words: - “as approved and
69	69	39directed by the authority”.
70	70	40 SECTION 13. Section 15 of chapter 40D, as so appearing, is hereby amended by striking
71	71	41out, in lines 5, 6, 9, the word “trust” and inserting in place thereof the word “financing”.