Amendment ID: S2480-17-R1

Redraft Amendment 17

Supporting the Tech and Innovation Economy

Messrs. Lesser, O'Connor and Feeney move that the proposed new text be amended by inserting after section 10 the following section:-

“SECTION 10A. Section 4G of chapter 40J of the General Laws, as appearing in the 2018 Official Edition, is hereby amended by adding the following 2 subsections:-

(c) Notwithstanding the requirements of subsections (a) and (b), the fund may be used to support technology and innovation ecosystems through grants or loans for facilities that foster innovation, demonstration, research and product development in emerging technologies and systems of strategic importance to the commonwealth including, but not limited to, artificial intelligence, robotics, quantum computing, advanced manufacturing, cyber security, financial technology, blockchain and marine technologies. Grants may be made to public entities, public or private universities or private business entities; provided, however, that a private university or business entity shall not be eligible for assistance from the fund unless the corporation has made a finding that a grant to such university or entity will result in a significant public benefit and the private benefit is incidental to a legitimate public purpose. Capital assets acquired with grant funds may be privately-owned or leased to a private entity if necessary to achieve the public purpose of the grant.

(d) Annually, not later than October 1, the corporation shall file a report with clerks of the senate and house of representatives, the joint committee on higher education, the joint committee on economic development and emerging technologies and the senate and house committees on ways and means detailing the grants and loans issued under this section.”.