Bill > H3997

This bill establishes the Suburban Infrastructure Fund, a dedicated financial resource designed to help smaller municipalities improve their local infrastructure. Specifically, the fund will be available to cities and towns with fewer than 50,000 residents, providing grants for upgrades and improvements to town-owned roads, bridges, and sidewalks. The fund will be administered by the executive office for administration and finance and will be financed through various sources including appropriations, bonding, and investment income. A key provision is that any money remaining in the fund at the end of a fiscal year will not be returned to the General Fund, ensuring the full amount remains available for infrastructure projects. The bill mandates that at least $250,000,000 will be distributed annually to qualifying municipalities through a grant application process, with 100% of the fund's money being allocated to specific local infrastructure improvement projects. This approach aims to support infrastructure development in smaller communities that might otherwise struggle to fund such critical maintenance and upgrades.

Government Affairs

https://malegislature.gov/Bills/194/H3997