Bill > H301

This bill modifies the Massachusetts Industrial Finance Authority (MIFA) law by making several key changes to how industrial development finance authorities operate. The bill expands the definition of "industrial enterprise" to include rental housing, both low/moderate income and transient guest facilities, which broadens the types of projects that can be financed. It allows municipalities (either individually or through contiguous consolidated authorities) to have sole bond-issuing authority for projects within their jurisdictions. The bill removes several references to MIFA throughout the existing law and eliminates some specific subsections related to the authority. Additionally, the bill provides more flexibility in bond issuance by allowing the authority to determine whether a corporate trustee is required and by permitting financing of facility costs that were paid prior to bond authorization. The bill also removes the requirement for obtaining a certificate of convenience and necessity from the Massachusetts Office of Business Development, potentially streamlining the project approval process for industrial development projects.

Business and Industry

https://malegislature.gov/Bills/194/H301