MA S115

Bill

MA S115

To ensure responsible bond issuance in the Commonwealth

Introduced
04/15/2015

In Committee
04/15/2015

Crossed Over

Passed

Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

For legislation to ensure responsible bond issuance in the Commonwealth. Community Development and Small Businesses.

AI Summary

This bill amends existing Massachusetts law to ensure responsible bond issuance by renaming the Massachusetts Industrial Finance Agency to the Massachusetts Development Finance Agency (MDFA) and by establishing a new approval process for certain types of bonds. Specifically, before a "specified governmental unit" (any government entity seeking to approve a bond issue) can give "host approval" for a "TEFRA required approval issue" (a bond issue that needs public approval to receive federal tax benefits, like tax-exempt interest), the MDFA must review and approve it. This review process will follow similar procedures to those already in place for municipalities, and the MDFA can charge fees and impose conditions on its approval. The bill clarifies that "host approval" refers to the approval required by federal tax law, and the new requirements do not apply to bonds issued by the Commonwealth itself or its agencies.

Committee Categories

Business and Industry

Sponsors (2)

Brian Joyce (D)*, Tony Cabral (D),

Last Action

Accompanied a study order, see S2145 (on 02/29/2016)

Official Document

https://malegislature.gov/Bills/189/Senate/S115

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/189/Senate/S115
State Bill Page	https://malegislature.gov/Bills/189/S115
Bill	https://malegislature.gov/Bills/189/S115.pdf

Bill	Bill Name	Last Action	Type
H2770	Authorizing the Department of Conservation and Recreation and the city of Worcester to create and operate a multi purpose rectangular field at the Lake Avenue Park in Worcester	Accompanied a study order, see H4102	Similar To
H3520	Relative to state grants targeting minority communities	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H3880	Authorizing the town of Shrewsbury to grant an additional license for the sale of all alcoholic beverages not to be drunk on the premises.	Signed by the Governor, Chapter 56 of the Acts of 2016	Similar To
H3931	Massachusetts Fair Health Care Pricing Act	Hearing scheduled for 03/08/2016 from 11:00 AM-03:00 PM in B-1	Similar To
S2145	Community Development and Small Business issues study order	Discharged to the committee on Senate Rules	Replaced by
S2300	Authorizing the town of Spencer to issue certain bonds for terms of 30 years	Pocket vetoed	Similar To

Bill > S115

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

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bill summary