Bill > H934

This bill establishes a commission to investigate the practicality of creating a bank owned by the Commonwealth of Massachusetts or a public authority within the Commonwealth, with a focus on its potential for infrastructure investment. The commission will be comprised of various state officials, including the secretaries of administration and finance and housing and economic development, the state treasurer and comptroller, legislative appointees, and representatives from key financial agencies like the Massachusetts Development Financing Agency and the Massachusetts Housing Finance Agency, as well as appointees from banking and business associations, and an academic expert. This commission is tasked with examining the technical, legal, and financial feasibility of such a bank, analyzing the experiences of other states with similar institutions, and evaluating how public funds are currently invested and lent by existing state and local entities. The commission will hold public hearings across different regions of the state and must submit a comprehensive report with findings and any proposed legislation within one year of the bill's enactment.