HOUSE DOCKET, NO. 2984        FILED ON: 1/16/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 502

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Marcus S. Vaughn

_________________

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 business relocation after receiving state grant funding.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Marcus S. Vaughn

9th Norfolk

1/16/2025


HOUSE DOCKET, NO. 2984        FILED ON: 1/16/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 502

By Representative Vaughn of Wrentham, a petition (accompanied by bill, House, No. 502) of Marcus S. Vaughn relative to business relocation after receiving economic development incentive program grant funding.  Economic Development and Emerging Technologies.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Fourth General Court
(2025-2026)

_______________

 

An Act relative to business relocation after receiving state grant funding.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 3D of chapter 23A of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting the following subsection:-

(f) All EDIP contracts, as defined by section 3A of this chapter, awarded by the EACC to a corporation, sole proprietorship, limited liability company, or partnership for a certified project, as defined by said section 3A, shall include the requirement that, unless it declares bankruptcy as defined by U.S.C. 11, a corporation, sole proprietorship, limited liability company, or partnership shall forfeit or refund any credits or grants received pursuant to an EDIP contract if the corporation, sole proprietorship, limited liability company, or partnership relocates outside the commonwealth within 20 years. The office of the attorney general shall promulgate regulations pursuant to the enforcement of this subsection.