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S 296

Yvonda Bean leaving Columbia Housing

2025-2026 Regular Session Introduced by Tameika Isaac Devine

The bill would create a state incentive program to attract controlling businesses’ headquarters to Massachusetts, prioritizing in-state jobs and rural areas, with potential tax cre

Introduced and adopted
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Bill Summary · S 296

Summary — S.296: "An Act relative to investment in Massachusetts‑based jobs"

Note: The bill text provided is titled "An Act relative to investment in Massachusetts‑based jobs." (The alternate title referencing assault of a code enforcement official appears inconsistent with the text and was not reflected in the bill language.)

Purpose

To authorize the state economic authority referenced in chapter 23A to create an incentive program that encourages controlling businesses to locate their global or national headquarters and executive operations in Massachusetts and to hire and retain new, permanent, full‑time employees in the Commonwealth. The bill also directs the agency to prioritize in‑state companies and give special consideration to rural and seasonal communities.

Key provisions

  • Adds subsections (e) and (f) to section 3C of chapter 23A:
    • (e) Directs the EACC (the economic authority established under chapter 23A) to establish, by guideline or regulation, an incentive program aimed at encouraging "controlling businesses" that locate their global or national headquarters and executive operations within Massachusetts to hire and retain new, permanent, full‑time employees in the Commonwealth.
    • The program may include tax credits. Importantly, under this subsection a business would not be required to make capital improvements to qualify for these tax credits.
    • (f) Directs the EACC to give special consideration to investments and job growth in rural and seasonal communities.
  • Amends section 3D of chapter 23A:
    • Inserts a new clause (viii) specifying that the EACC shall give preference to a controlling business that already bases its global or national headquarters and executive operations within the Commonwealth when assessing projects.

Who is affected

  • Controlling businesses considering locating or expanding their global/national headquarters and executive operations in Massachusetts.
  • Existing Massachusetts‑based controlling businesses seeking preference for state assistance.
  • The EACC, which must develop program guidelines/regulations and apply the new preference and rural/community considerations.
  • Municipalities and regions (especially rural/seasonal areas) that may gain targeted recruitment and jobs.
  • State fiscal outlook—potential reduction in tax revenue depending on the scope and generosity of incentives (no fiscal caps or offsets are specified in the bill text).

Procedural status and timeline (as provided)

  • Filed (Senate docket): 1/10/2025
  • Introduced / Read twice in Senate: 1/29/2025
  • Referred to Committee(s): Committee on Energy and Natural Resources and Committee on Economic Development and Emerging Technologies; also listed as referred to Codes.
  • Hearing scheduled: 06/05/2025, 11:00 AM–1:00 PM (location A‑2)

Notes and open questions

  • The bill delegates substantial design choices to the EACC (eligibility, credit amounts, duration, caps, reporting and clawback mechanisms). Those details will determine fiscal and economic impacts.
  • "Controlling business" is not defined in the text provided; definition will be critical for eligibility and enforcement.
  • No appropriation, tax credit dollar amounts, program caps, or sunset are specified in the current text.
  • The provision that businesses need not invest in improvements to receive tax credits is a notable departure from many state incentive programs that condition credits on capital investment.

This summary describes the bill as drafted; further committee hearings and amendments may change eligibility, fiscal limits, and program specifics.

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

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