Massachusetts House Passes Economic Development Bond Bill

The Malden delegation supported legislation including billions in bond authorizations, tax credits, and additional policy initiatives

BOSTON – Monday, July 1, 2024 – Last Thursday, the Massachusetts House of Representatives passed H. 4789, An Act relative to strengthening Massachusetts’ economic leadership. This bill included an array of investments and policy initiatives that aim to bolster support for workers and businesses, particularly in the life sciences, clean energy technology, and manufacturing industries, while retaining a larger focus on making Massachusetts more affordable and competitive. Funded at $3.40 billion in bond authorizations, with an additional $700 million worth of tax credits, the legislation strives to ensure that the Commonwealth is prepared to lead the innovation industries of the future.

Through targeted investments and tax credits, the House Economic Development bond bill provides support and resources to companies at the forefront of innovation here in the Commonwealth – further securing Massachusetts position as a regional hub for the life sciences and clean energy technology industries. On the other hand, this piece of legislation enhances protections and support for workers through investments in workforce development initiatives. H.4789 reflects the House’s commitment of promoting economic growth across the Commonwealth while positioning Massachusetts as a leader in rising, vital industries. In addition to $3.4 billion in bond authorizations and $700 million in tax credits, the legislation incorporated policy initiatives including:

• Project Labor Agreements (PLAs): authorizes public agencies or municipalities to use PLAs if it is in the best interest of the Commonwealth and directs the Department of Labor Standards to promulgate regulations to increase diversity of contractors in PLAs.
• Workforce Investment Trust Fund: requires funds from the Workforce Investment Trust Fund to be competitively granted through existing workforce development programs that develop and strengthen workforce opportunities for low-income communities or vulnerable youth and young adults. Allows for funds to be granted to programs that provide opportunities for intellectual, developmental, or physical disabilities. and to facilitate work permits, professional credentialing, or other workforce opportunities for non-citizens residing lawfully in Massachusetts.
• Ticket Sales: makes several changes to modernize ticket sales laws and increase consumer protections, including increased audits and testing of paperless systems, clear and conspicuous fee disclosures, and guaranteed refunds in case of canceled events and other circumstances
• Commercial Electric Vehicle (EV) Charging Stations: requires commercial EV charging stations to be registered with division of standards under Office of Consumer Affairs and Business Regulation (OCABR) on a form developed by the division before offering charging services to the public. Requires all commercial electric vehicle charging stations operating as of January 1, 2025, to register with the division by January 1, 2026.

“I am excited to see this comprehensive economic development package come into fruition,” said State Representative Steve Ultrino (D – Malden). “This bill renews the House’s commitment to statewide economic development and uplift the Commonwealth’s economy so it may remain competitive for years to come. I am particularly thankful to my house colleagues for supporting Project Labor Agreements, the workforce investment trust fund, consumer protections and transparency around ticket sales, and many other critical policy initiatives included in this bill.”

“I am so proud of the fact that the Massachusetts House of Representatives has put together an economic bill that will invest in our future, business innovation, job creation, and sustainable economic development,” said State Representative Paul Donato (D – Medford). “By enhancing infrastructure and promoting job growth, this bill will ensure that Massachusetts continues to remain at the forefront of economic advancement. We look forward to the positive impact this legislation will bring to the entire commonwealth, residents, and businesses.”

“This comprehensive economic development bill makes critical investments into major sectors of the Commonwealth’s economy, while also including consumer protection provisions and tax credits,” said State Representative Lipper-Garabedian (D – Melrose). “I was proud to join my colleagues in supporting this legislation that will ensure Massachusetts remains a leader in leading industries, such as life sciences, while maintaining affordability for our residents.”

H. 4789 was passed 155-2 by the House of Representatives on June 27th, 2024. The bill now goes to the Senate for their consideration.