MA S1335

Bill

Relative to proceeds from the sale of bonds

Introduced
03/29/2021

In Committee
12/16/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to proceeds from the sale of bonds. Municipalities and Regional Government.

AI Summary

This bill amends Section 20 of Chapter 44 of the General Laws, which relates to the treatment of premiums and accrued interest received from the sale of municipal bonds and notes. The key provisions are: 1) Any premium received from the sale of notes, less the costs associated with issuing the notes, shall be applied to the first interest payment on the notes. 2) Any premium received from the sale of bonds, less the costs associated with issuing the bonds, shall be applied to pay the costs of the project being financed by the bonds and to reduce the amount authorized to be borrowed for the project. 3) Notwithstanding the above, any premium and accrued interest not exceeding $50,000 may be applied, with the approval of the chief executive officer, for the payment of indebtedness.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (5)

Cindy Friedman (D)*, Carolyn Dykema (D), Susan Moran (D), Brian Murray (D), Adam Scanlon (D),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Rules (on 12/16/2021)

Official Document

https://malegislature.gov/Bills/192/S1335

(7 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S1335
Bill	https://malegislature.gov/Bills/192/S1335.pdf

Bill	Bill Name	Last Action	Type
H1860	Concerning equitable allocation of recovery proceeds for subrogation claims	Accompanied a study order, see H5170	Similar To
H2192	Relative to proceeds from the sale of bonds	Accompanied S1335	Similar To
H2825	Relative to exemptions for small charities for tax upon raffle proceeds	Accompanied a study order, see H5043	Similar To
H4105	Authorizing Nantucket to issue pension obligation bonds or notes	No further action taken	Similar To
H56	Providing for the terms of certain bonds to be issued by the Commonwealth	Accompanied a new draft, see H72	Similar To
H72	Providing for the terms of certain bonds to be issued by the Commonwealth	Signed by the Governor, Chapter 4 of the Acts of 2021	Similar To
S2539	Authorizing the county of Plymouth to issue pension obligation bonds or notes	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To

Bill > S1335

MA S1335

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (5)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary