A massive borrowing bill that commits state financial support to the life sciences and climate technology industries, clears the way for a new professional soccer stadium in Everett, and much more is now law.
Gov. Maura Healey on Wednesday signed the economic development bond bill (H 5100) that lawmakers sent to her desk six days ago. An aide said the governor gave approval to nearly the entirety of the 319-page bill and returned only one section dealing with automobile insurance with an amendment.
The roughly $4 billion bill authorizes another $500 million for life sciences companies over the next 10 years, and calls for a new $400 million commitment to the burgeoning climate tech industry.
Lawmakers packed the measure with policy riders, including language sought by the Kraft family to facilitate construction of a new home stadium for the New England Revolution.
The law would remove the designated port area classification from a parcel of land in Everett, viewed as a key hurdle toward developing a new stadium there.
It took lawmakers years to get on the same page supporting the change, and the final accord prohibits public funding from flowing toward construction of the stadium. Developers would also need to strike community mitigation agreements with the cities of Everett and Boston, a compromise sough by Boston Mayor Michelle Wu who raised concerns about potential traffic impacts.Skip Ad
Another section of the law installs new regulations around event ticket sales, including by prohibiting the use of “bots” that quickly snatch up many tickets.
Consumer groups had criticized language outlining requirements for non-transferable tickets, arguing that it would give buyers fewer choices on the secondary markets, but Healey opted to sign her approval on the full package.
“This legislation includes nearly all of the authorizations and transformative policy initiatives that I filed in March, bringing the total authorized to nearly $4 billion, and takes important steps toward implementing our economic development plan,” Healey wrote in a letter to lawmakers. “This bill is essential to keeping the Massachusetts economy strong and adaptable in a rapidly changing world.”
Healey’s office rolled out a lengthy press release with quotes in support from the governor, lieutenant governor, Cabinet secretaries, and legislative leaders. Aides said the governor “will host a ceremonial signing event in the near future.”
House and Senate Democrats failed to come to agreement on the package before the traditional July 31 end-of-formal-business deadline. After months of additional negotiations, they reconvened for a rare post-election formal session last week to approve the compromise.
Originally Published: November 20, 2024 at 1:21 PM EST
