Relative to economic development in the commonwealth

What it means

The House-passed economic development bill. It lets the state borrow up to $558,225,000 and $225,000,000 in two bond sections, including $300,000,000 for the MassWorks infrastructure program, $116,975,000 for local public infrastructure grants, $100,000,000 for work at the Raymond L. Flynn Cruiseport in South Boston, $75,000,000 for career technical education equipment grants, $50,000,000 each for coastal community grants, coastal dredging grants and the Massachusetts Cultural Facilities Fund, and $25,000,000 for higher education Manufacturing USA matching grants; it also lists $8,840,000 in local economic development projects. Tax changes include a sales tax holiday on August 11 and 12, 2018, an apprentice tax credit of up to $4,800 per apprentice, extra state tax credits for projects named "extraordinary economic development opportunities", a live theater tax credit, and a rural growth fund investment credit. Other sections create a cybersecurity innovation fund, register and regulate professional employer organizations, add corporate governance disclosure rules for insurers, and set up commissions on minority-owned real estate and financial services businesses and "last mile" broadband.

Source: official text and history of H.4732 on malegislature.gov. This describes the bill text posted there; amendments may have changed the version that was voted on.