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H 4413

An Act providing for the terms of certain bonds to be issued by the Commonwealth

194th Legislature (2025-2026)

Sets 30-year maximum maturities for bonds funding municipal roads/bridges, all payable by June 30, 2065, ensuring immediate, uniform debt terms for road projects.

Signed by the Governor, Chapter 48 of the Acts of 2025
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Bill Summary · H 4413

Summary of H.4413 – An Act providing for the terms of certain bonds to be issued by the Commonwealth

Overview

H.4413, now Chapter 48 of the Acts of 2025, establishes the terms for bonds that the Commonwealth may issue under sections 3 and 4 of Chapter 17 of the Acts of 2025, also known as “An Act Financing Improvements to Municipal Roads and Bridges.” The Governor's August 12, 2025 message recommended that these bonds be issued with maturities not exceeding 30 years, and payable no later than June 30, 2065. The bill was enacted as emergency legislation to ensure immediate effect for capital road and bridge projects.

What the bill does

  • Sets the term for bonds issued pursuant to Section 3 of Chapter 17 (Acts of 2025) at a maximum of 30 years.
  • Sets the term for bonds issued pursuant to Section 4 of Chapter 17 (Acts of 2025) at a maximum of 30 years.
  • Requires all such bonds to be payable no later than June 30, 2065.
  • Conforms statutes to the Governor’s recommendation in the August 12, 2025 message, under Article LXII, Section 3 of the Massachusetts Constitution.

Key provisions

  • Section 1: Bonds under Section 3 of Chapter 17 of the Acts of 2025 must be issued for terms not exceeding 30 years and be payable by June 30, 2065.
  • Section 2: Bonds under Section 4 of Chapter 17 of the Acts of 2025 must be issued for terms not exceeding 30 years and be payable by June 30, 2065.
  • The act is labeled an emergency measure, intended for immediate effectiveness to support the capital projects funded by the referenced bonding provisions.

Who or what would be affected

  • Primary: Massachusetts State Treasurer and the Commonwealth’s debt management framework, specifically bonds authorized by the 2025 bonding act for municipal roads and bridges.
  • Indirect: Municipalities receiving benefits from the funded projects; bond investors and the Commonwealth’s debt service profile; state budgeting and long-term capital planning.

Timeline and procedural notes

  • Introduced: August 14, 2025; governor’s recommendation dated August 12, 2025.
  • Emergency declared: The bill includes an emergency preamble stating immediate necessity.
  • Legislative actions: Passed by the Legislature in October 2025; emergency preambles adopted; enacted as Chapter 48.
  • Signed into law: October 29, 2025.
  • Relationship to broader package: Part of the broader “An Act Financing Improvements to Municipal Roads and Bridges” (Chapter 17, Acts of 2025), with related changes in bonding terms codified by this act.

Context

This measure ensures uniform, predictable debt maturity for bonds financing critical transportation infrastructure, aligning bond terms with the governor’s stated policy and facilitating funded capital projects without delay.

Compiled from official sources — confirm details with the bill’s official record.

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