Amendment #95 to H4165

Loan Program for Biomedical Companies

Mr. Galvin of Canton moves to amend the bill by adding the following section:

"SECTION XX. That $100,000,000 be allocated for a no interest loan program to be administered by the Executive Office of Housing and Economic Development.  These loans will assist biomedical and biotech manufacturers that have lost federal funding due to the Affordable Care Act.  To qualify for funding, businesses must be headquartered in Massachusetts.  Businesses may not use this loan to make up for funds lost in meeting new health insurance requirements for employees."