Bill > H147

This bill makes several changes to Chapter 40D of the General Laws concerning industrial development finance authorities, which are governmental bodies that help finance projects for businesses. Primarily, it clarifies that bonds issued under this chapter can cover costs incurred before the bonds were authorized, as long as the board of directors approves them. The bill also expands the definition of an "industrial enterprise" to include rental housing, such as low and moderate-income housing, and facilities rented to transient guests. It grants municipalities or consolidated municipalities acting through their industrial development financing authorities sole bond issuing authority for projects within their jurisdiction. Additionally, the bill modifies provisions related to the appointment of a corporate trustee for bonds, removes a requirement for a certificate of convenience and necessity from the Massachusetts office of business development, and removes references to "MIFA" (Massachusetts Industrial Finance Agency), suggesting a shift in administrative responsibility or terminology. Finally, it amends language to ensure funds are deposited as approved by the authority and changes the term "trust" to "financing" in certain contexts related to bonds.