summary
Introduced
06/27/2024
06/27/2024
In Committee
07/08/2024
07/08/2024
Crossed Over
07/11/2024
07/11/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
Relative to strengthening Massachusetts’ economic leadership
AI Summary
This bill appropriates a total of $2,370,827,000 from the General Fund for fiscal year 2029 and $1,030,000,000 for fiscal year 2034 to strengthen Massachusetts' economic leadership through various programs and infrastructure improvements.
* **MassWorks Infrastructure Program:** $400,000,000 from the General Fund for infrastructure improvements.
* **Mass Impact Program:** $252,500,000 from the General Fund for large, transformational projects to drive economic growth, including $2,500,000 for the Museum of Science, Boston for a multimodal riverwalk.
* **Massachusetts Technology Park Corporation:** $100,000,000 from the General Fund for grants supporting artificial intelligence adoption and application to public policy problems.
* **Massachusetts Technology Park Corporation:** $99,000,000 from the General Fund for grant programs supporting collaboration among manufacturers and institutions of higher education.
* **Rural Development Program:** $100,000,000 from the General Fund for programs promoting economic opportunity in rural communities.
* **Seaport Economic Council Grant Program:** $100,000,000 from the General Fund for grants to coastal communities for economic development and job creation in the maritime economy.
* **Grants for Local Governments and Economic Development:** $100,000,000 from the General Fund for cities, towns, and regional organizations to support economic development, workforce development, higher education, tourism, and arts and culture.
* **Massachusetts Cultural Facilities Fund:** $50,000,000 from the General Fund for capital improvements to cultural facilities.
* **Massachusetts Technology Development Corporation (MassVentures) Grants:** $25,000,000 from the General Fund for grants to Massachusetts companies commercializing technologies developed with federal Small Business Innovation Research or Small Business Technology Transfer grants.
* **Massachusetts Technology Development Corporation (MassVentures) Grants for Alternative Proteins:** $5,000,000 from the General Fund for grants to Massachusetts companies supporting alternative proteins developed with federal grants.
* **Massachusetts Technology Park Corporation for Alternative Proteins:** $5,000,000 from the General Fund for matching grants supporting alternative proteins among private entities, institutions of higher education, and non-profits.
* **Brownfields Redevelopment Fund:** $30,000,000 from the General Fund for the redevelopment of brownfield sites.
* **Massachusetts Growth Capital Corporation for Small Business Loans:** $35,000,000 from the General Fund for matching grants to community development financial institutions and corporations to make loans to small businesses, prioritizing disadvantaged businesses.
* **Massachusetts Growth Capital Corporation for Low- and Moderate-Income Entrepreneurs:** $10,000,000 from the General Fund for grants to low- and moderate-income entrepreneurs for capital needs.
* **Office of Travel and Tourism Grant Program:** $40,000,000 from the General Fund for grants to improve tourism facilities and destinations.
* **Commonwealth Zoological Corporation:** $15,000,000 from the General Fund for capital improvements to facilities operated by Zoo New England.
* **Massachusetts Broadband Incentive Fund:** $10,000,000 from the General Fund for capital repairs and improvements to broadband infrastructure.
* **Massachusetts Educational Financing Agency:** $85,000,000 from the General Fund to assist students and institutions with access to affordable higher education.
* **Local Economic Development Projects:** $488,327,000 from the General Fund for various local economic development projects across the commonwealth.
* **Board of Library Commissioners Municipal Grant Program:** $150,000,000 from the General Fund for public library projects.
* **Massachusetts Historical Commission Grant Program:** $8,000,000 from the General Fund for the preservation of historic properties, landscapes, and sites.
* **Massachusetts Life Sciences Investment Fund:** $580,000,000 from the General Fund for the expansion of the University of Massachusetts Boston's nursing and health sciences facilities.
* **Clean Energy Investment Fund:** $200,000,000 from the General Fund to promote jobs, economic development, and workforce development through capital grants for clean energy technologies.
* **Massachusetts Offshore Wind Industry Investment Trust Fund:** $200,000,000 from the General Fund to support the offshore wind industry.
* **Nursing Facility Capital Needs Program:** $50,000,000 from the General Fund to address capital needs of nursing facilities, including specialized care units and urgent improvements.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Last Action
Accompanied H5100 (on 11/13/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/H4804 | 06/28/2024 |
| BillText | https://malegislature.gov/Bills/193/H4804.pdf | 06/28/2024 |
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