Bill > H5100

This bill, titled "Relative to strengthening Massachusetts' economic leadership", proposes a range of measures to promote economic development, job creation, and growth in the state of Massachusetts. The key provisions of the bill include: This bill establishes a $2.9 billion bond authorization to finance various economic development initiatives, including: - A grant program for employment social enterprises that provide paid employment opportunities and supportive services for individuals facing barriers to employment. - Funding for the Seaport Economic Council to support economic development and job creation in coastal communities. - Grants to grow Massachusetts-based companies commercializing technologies developed with federal research and development funding. - Funding for blue economy initiatives at the University of Massachusetts Dartmouth. - A program to provide matching grants to community development financial institutions and community development corporations to leverage federal or private investment for small business loans. - Funding for the Brownfields Redevelopment Fund to support the redevelopment of contaminated properties. - A competitive grant program to improve facilities and destinations visited by in-state and out-of-state travelers to increase tourism. - Funding for capital improvements at facilities operated by Zoo New England. - Funding for the Massachusetts Broadband Incentive Fund for broadband infrastructure improvements. - Funding for the MassWorks infrastructure program and a program to support the redevelopment of blighted, vacant or underutilized properties. - Funding for the Massachusetts Cultural Facilities Fund and grants to municipalities and regional organizations to support economic development. - Funding for the Massachusetts Educational Financing Authority to assist students and institutions of higher education. The bill also makes changes to economic development incentive programs, including: - Allowing the Economic Assistance Coordinating Council (EACC) to authorize refundable tax credits. - Authorizing municipalities to offer tax increment financing and special tax assessments to support economic development projects. - Establishing a permit regulatory office within the Executive Office of Economic Development to serve as a state permit ombudsman and streamline local permitting processes. - Establishing a rural development program to promote economic opportunity in rural communities. Additionally, the bill makes changes to various other laws and programs, including: - Establishing a Nurse Licensure Compact to allow nurses licensed in one state to practice in other member states. - Authorizing the Department of Agricultural Resources to acquire land to support the mission of the department. - Requiring the Department of Elementary and Secondary Education to set measurable educator diversity goals and collect and report on diversity data. - Establishing a program to address the capital needs of nursing facilities. - Creating a live theater tax credit program. - Establishing a climatetech tax incentive program to support research, development, innovation, manufacturing, and deployment in the climatetech sector. - Authorizing the Massachusetts Development Finance Agency to establish a growth capital division to provide financing and support to small businesses. Overall, this bill aims to strengthen Massachusetts' economic competitiveness by investing in infrastructure, supporting business growth and innovation, developing the workforce, and promoting economic development in communities across the state.

https://malegislature.gov/Bills/193/H5100