Bill > H290

This bill amends the Massachusetts General Laws related to industrial development finance authorities. Key provisions include: 1. Allowing industrial development finance authorities or consolidated authorities to have sole bond-issuing authority for projects within their jurisdiction, rather than requiring approval from the Massachusetts Office of Business Development. 2. Expanding the definition of "industrial enterprise" to include rental housing, including low/moderate-income housing, and facilities rented primarily to transient guests. 3. Removing certain procedural requirements and references to the "MIFA" (Massachusetts Industrial Finance Agency) that are no longer relevant. 4. Giving industrial development finance authorities more flexibility in how bond proceeds are handled and deposited. Overall, the bill aims to streamline the process for industrial development finance authorities to support community development and small businesses within their local communities.

Business and Industry

https://malegislature.gov/Bills/192/H290