HOUSE DOCKET, NO. 2074 FILED ON: 1/17/2013
HOUSE . . . . . . . . . . . . . . . No. 998
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The Commonwealth of Massachusetts
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PRESENTED BY:
Martin J. Walsh
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to municipal industrial financing authorities.
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PETITION OF:
Name: | District/Address: | Date Added: |
Martin J. Walsh | 13th Suffolk | 1/17/2013 |
Thomas M. Menino | Boston City Hall 1 City Hall Square Boston, MA 02201 |
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Carlo Basile | 1st Suffolk |
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HOUSE DOCKET, NO. 2074 FILED ON: 1/17/2013
HOUSE . . . . . . . . . . . . . . . No. 998
By Mr. Walsh of Boston, a petition (accompanied by bill, House, No. 998) of Martin J. Walsh, Thomas M. Menino and Carlo Basile relative to bonds between municipalities and a corporate trustee. Financial Services. |
The Commonwealth of Massachusetts
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In the Year Two Thousand Thirteen
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An Act relative to municipal industrial financing authorities.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 9 of chapter 40D of the General Laws, is hereby amended by striking out in line 4 after the word “chapter”, the word “shall”, and inserting in place thereof the following word:- may
SECTION 2.Section 9 of chapter 40D of the General Laws, as so appearing, is hereby amended by inserting after the last sentence the following:-
Notwithstanding the foregoing, any bonds issued under the provisions of this chapter may be secured by a loan agreement, in place of a trust agreement, by and between the issuing municipality acting by and through an industrial development financing authority and a financial institution.
SECTION 3. Section 1 of chapter 40D of the General Laws, as so appearing, is hereby amended by inserting in the eighth sentence in clause (1) after the word “guests” the following:- and low or moderate income housing as defined in section 20 of chapter 40B.
SECTION 4. Section 7 of chapter 40D of the General Laws, as so appearing, is hereby amended by inserting after clause (ix) the following clause:- (x) to issue bonds for low and moderate income rental housing.