summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to establish a public innovation loan project trust fund within the Executive Office for Administration and Finance for innovative projects that improve public municipal or state departments. State Administration and Regulatory Oversight.
AI Summary
This bill establishes the Public Innovation Loan Project Trust Fund within the Executive Office for Administration and Finance. The fund will be used to develop, support, and promote a revolving loan program for innovative projects that improve public municipal or state departments. The Secretary will award funding through an application process, prioritizing projects that achieve cost neutrality or cost savings through innovation, accountability, or entrepreneurship. The bill sets funding limits of $1 million for single-department projects and $3 million for multi-departmental projects, though the Executive Office may make exceptions with legislative approval. The application process requires details on the project's goals, current inefficiencies, financial impacts, and implementation plan. The Executive Office must publish and notify awardees two months before the next fiscal year.
Committee Categories
Government Affairs
Sponsors (12)
Kim Ferguson (R),
Paul Frost (R),
Susan Gifford (R),
Bradford Hill (R),
Steven Howitt (R),
Randy Hunt (R),
Brad Jones (R),
Matt Muratore (R),
Elizabeth Poirier (R),
Todd Smola (R),
Mike Soter (R),
Bruce Tarr (R),
Last Action
Accompanied a study order, see H5103 (on 11/06/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2727 |
| Bill | https://malegislature.gov/Bills/191/H2727.pdf |
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