Bill > H3078

This bill aims to further regulate certain operations of the Department of the State Treasurer. The key provisions are: 1. Allowing the Department of the State Treasurer to charge for the reasonable costs of providing services to any state agency, department, or authority. 2. Increasing the number of members on the board of the Massachusetts State Retirement System from 6 to 12. 3. Removing the requirement for the State Treasurer to provide a certificate stating that cash or securities have been deposited for certain vehicle registrations. 4. Repealing a section that allowed for the deposit of cash or securities with the State Treasurer for certain purposes. 5. Making changes to the requirements for bonds or bond documentation related to various licenses and certificates, including making them more accessible to the State Treasurer. 6. Providing a 5-year transition period for the retention of any cash or securities deposited with the State Treasurer under the repealed section, and requiring the State Treasurer to notify affected depositors.

Government Affairs

https://malegislature.gov/Bills/193/H3078