Bill > H2257

This bill establishes a special legislative commission to conduct a comprehensive study of municipal bonding practices in Massachusetts. The commission will be composed of eleven members, including legislative leaders, finance experts, representatives from the Massachusetts Municipal Association, state officials, and government administrators. The commission's primary objectives are to evaluate municipal bond issuance practices in Massachusetts and across the United States, with the goal of helping municipalities maximize their bond ratings. Specifically, the commission will survey bond credit ratings over time, compare Massachusetts municipalities' experiences with those in other states, compile best practices, investigate credit rating agency methodologies, identify barriers to adopting effective financial practices, and determine how statewide organizations can provide technical assistance in the municipal bonding process. All state departments and municipalities are required to provide the commission with requested records and documents. The commission must convene within 40 days of having a quorum of 5 members and is mandated to submit its findings, recommendations, and proposed legislation to the clerks of the House and Senate and the Governor by September 31, 2025.

Government Affairs

https://malegislature.gov/Bills/194/H2257