Though the Massachusetts Legislature technically concluded its two-year formal legislative session in the early hours of August 1st, members returned to the State House last week to resolve two major policy priorities. Special formal legislative sessions were held in the House and Senate so that members could approve a major economic development bill and a clean energy accord.
An Act relative to strengthening Massachusetts’ economic leadership
The economic development bill authorizes $3.96 billion in bonded funding and a number of
policies to support businesses and communities. The final law includes an MAR priority in what is known as the Permit Extension Act. This will extend all permits, certificates and approvals for the development of real estate, issued between January 1, 2023, and January 1, 2025, for a period of two years beyond the issuing date. Given the uncertain economic conditions, this will help make sure that currently permitted housing developments will have more time to move forward.
Other key policy and funding provisions include:
- $400 million to support the innovation and deployment of climatetech technologies, as well as offshore wind energy.
- $500 million over ten years for the Commonwealth’s life sciences initiative.
- Increased support for small businesses by restructuring two quasi-state agencies to better provide resources (Massachusetts Growth Capital Corporation and MassDevelopment).
- $400 million for the MassWorks Infrastructure Program to support public infrastructure projects and create jobs.
An Act promoting a clean energy grid, advancing equity, and protecting ratepayers
The clean energy accord is primarily focused on reforming the state’s siting and permitting laws for clean energy resources, though it included many other policies:
- Consolidates permitting at both the state and local levels and sets 12-to-15-month limits for the issuance of all final permitting decisions.
- Streamlines…