Economic Development Bond Bill Update

Economic Development Bond Bill Update


Governor Maura Healey signed the economic development bill on November 20, 2025. She signed almost the entirety of the bill, returning only one section regarding auto insurance liability to the legislature for amendment. Here is her signing letter, which includes the amendment.  The legislature is out of formal session, so unless the amendment is taken up during informal session sometime before January 1, 2025, the amendment will require other action in the next session.  


Announcement: Governor Healey Signs Economic Development Bill to Strengthen Massachusetts’ Global Leadership in Climatetech, Life Sciences and AI


The Massachusetts Legislature voted to approve the Economic Development Bond Bill on November 14, 2024 in a rare formal session.  They voted on a Clean Energy Siting bill. Both are on Governor Healey's desk where she had 10 days to sign them into law.  She can also issue vetoes of some of the language, which she did.


Summary of Economic Development Bill


Conference reported, in part: Nov. 12, 2024 at 6:01 p.m. (H 5100)


Coverage from MMA


WIth thanks to Rasky Partners:


 



The economic development bill, a result of the Governor's economic planning council, authorizes $3.96B in capital funding to support a wide range of industries, including climatetech, sciences, and public infrastructure, and a broad set of policy changes to support businesses and communities.


Major investments include $400 million for the Massachusetts Clean Energy Center (MassCEC) to support innovation in climatetech and offshore wind technology over the next decade. In addition, the bill reauthorizes $500 million over ten years for the Life Sciences Breakthrough Fund, expanding its scope to include advancements in health equity, biosecurity, digital health, and artificial intelligence, along with an increase in the annual life sciences tax credit from $30 million to $40 million. The bill also authorizes $400 million for the MassWorks Infrastructure Program to support public infrastructure projects. Other notable investments include: 


• $100 million for infrastructure improvements in rural communities


• $150 million for library construction projects 


• $103 million for artificial intelligence in systems across the state  


 


Policy initiatives include authorizing the construction of a professional soccer stadium and waterfront park in Everett, establishing a live theater production tax credit, creating ticket pricing transparency requirements, authorizing public agencies and municipalities to enter into project labor agreements for public works contracts, and facilitating licensure for internationally trained physicians. 


Mechanics of the bill:


Bills: H 4804 and S 2869


House vote: June 27, 2024 – 155-2


Senate vote: July 11, 2024 – 40-0


House conferees: Aaron Michlewitz, Jerald Parisella, David Muradian


Senate conferees: Barry Finegold, Michael Rodrigues, Peter Durant


Date sent to conference: July 18, 2024


First conference meeting: July 22, 2024


Conference reported, in part: Nov. 12, 2024 at 6:01 p.m. (H 5100)


Background


On 11/13/24, the Massachusetts House adopted an order calling for a formal session on Thursday, November 14,  when representatives are expected to approve an economic development bond bill and a clean energy bill. 


The order (H 5104), filed Wednesday by Majority Leader Michael Moran, states that "notwithstanding Joint Rule 12A, the House shall meet in formal session for the purpose of conducting formal business on Thursday[,] November 14, 2024." It was adopted on a voice vote immediately following its introduction.


House and Senate Democrats didn't finish work on the two major bills before scheduled formal sessions ended this year on Aug. 1 and it has taken them additional months to reach agreements on the legislation.


The Senate on Oct. 24 adopted a similar order after Republicans there insisted on taking a recorded vote on the clean energy bill, which passed 38-2.  The Senate order, however, specified that "the Senate shall be allowed to convene for formal business for the purposes of considering conference committee reports filed in the Senate or received from the House under the provisions of Joint Rules 11 or 11A."


The Legislature over the years has largely observed Joint Rule 12A, which discourages major legislating in the weeks leading up to the biennial elections and following those elections, when some lawmakers are serving out the final weeks of their terms as lame ducks.


Joint Rule 12A states that "all formal business of the first annual session of the General Court shall be concluded not later than the third Wednesday in November of that calendar year and all formal business of the second annual session shall be concluded not later than the last day of July of that calendar year."


The Legislature for many years has advanced important bills during informal sessions, and has continued to this summer and fall, when members of both parties unanimously agree to let them move through. The $4 billion economic development compromise filed Tuesday night requires a roll call, because it authorizes borrowing, and roll calls are only permitted during formal sessions.