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HD 5031

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

194th Legislature (2025-2026)

Sets 30-year bond terms and a final payoff date of June 30, 2065 for bonds under the 2025 municipal roads and bridges act, ensuring timely project funding.

Read; and referred to the committee on Bonding, Capital Expenditures and State Assets
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Bill Summary · HD 5031

Summary: House Docket No. 5031 — An Act providing for the terms of certain bonds to be issued by the Commonwealth

Overview

HD 5031, introduced August 14, 2025, is a proposed Massachusetts law titled “An Act providing for the terms of certain bonds to be issued by the Commonwealth.” It accompanies bonds authorized in sections 3 and 4 of chapter 17 of the acts of 2025, the act titled “An Act Financing Improvements to Municipal Roads and Bridges.” The bill sets fixed terms for those bonds and was read and referred to the Committee on Bonding, Capital Expenditures and State Assets. The Governor submitted a concurrent message on August 12, 2025 recommending these terms, and the bill is framed as an emergency law.

Purpose and Intent

  • Align bond terms with a 30-year maximum and a final maturity deadline of June 30, 2065 for bonds issued under the specified sections.
  • Ensure the funds authorized under the related municipal roads and bridges financing act can proceed without delay by providing clear debt terms.
  • Use the Governor’s constitutional recommendation (Article LXII, Section 3) to fix bond maturities for the stated program.

Key Provisions

  • Section 1: Bonds issued by the State Treasurer under Section 3 of Chapter 17 of the Acts of 2025 shall have a term not to exceed 30 years. All such bonds shall be payable no later than June 30, 2065.
  • Section 2: Bonds issued by the State Treasurer under Section 4 of Chapter 17 of the Acts of 2025 shall have a term not to exceed 30 years. All such bonds shall be payable no later than June 30, 2065.
  • The act explicitly references the Governor’s recommendation dated August 12, 2025 and cites approval under Section 3 of Article LXII of the Amendments to the Massachusetts Constitution.
  • The bill is designated as an emergency law, intended to take effect promptly to preserve public convenience.

Affected Parties and Impacts

  • Primary: Commonwealth of Massachusetts, through the State Treasurer, issuing bonds for capital projects.
  • Indirect: Municipalities and project sponsors receiving financing for road and bridge improvements funded by bonds authorized in the related 2025 act.
  • Impacts include: standardized 30-year debt terms and a fixed latest maturity date, which will influence debt service planning and long-term fiscal commitments.

Procedural and Timeline Aspects

  • Status: Read and referred to the Committee on Bonding, Capital Expenditures and State Assets (as of 2025-08-14).
  • Legislative actions show urgency and alignment with the Governor’s message to ensure timely execution of the bond financing program.

Notes

  • This bill does not alter the authorization amount or project scope for the bonds themselves; it sets maturities and final payoff dates to provide clear debt terms for bonds tied to the municipal roads and bridges financing act.
  • If enacted, the provisions would apply immediately given its emergency-law designation.

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

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