General Laws of Massachusetts - Chapter 23G The Massachusetts Development Finance Agency
- Massachusetts General Laws - Definitions - Chapter 23G, Section 1
As used in this chapter, the following words shall have the following meanings, unless the context clearly requires otherwise: “Agency”, the Massachusetts Development Finance Agency...
- Massachusetts General Laws - Creation; directors, officers and employees; termination; trade secrets - Chapter 23G, Section 2
(a) There is hereby created a body politic and corporate to be known as the Massachusetts Development Finance Agency. The Agency is hereby constituted a...
- Massachusetts General Laws - Powers - Chapter 23G, Section 3
(a) The Agency shall have all powers necessary or convenient to carry out and effectuate its purposes, including, without limiting the generality of the foregoing,...
- Massachusetts General Laws - Development Finance Insurance Fund - Chapter 23G, Section 4
There is hereby established a Development Finance Insurance Fund to which shall be credited all premiums received by the Agency for insurance or reinsurance provided...
- Massachusetts General Laws - Insurance or reinsurance of loans; rates; approval of loan - Chapter 23G, Section 5
(a) In furtherance of the purposes of the fund established pursuant to section 4, the Agency is, in addition to the powers granted under section...
- Massachusetts General Laws - Massachusetts Export Development Fund - Chapter 23G, Section 6
(a) There is hereby established within the Agency the Massachusetts Export Development Fund, referred to in this section and section 7 as the fund and...
- Massachusetts General Laws - Massachusetts export development program; insurance, co-insurance and loan guarantees - Chapter 23G, Section 7
(a) There is hereby established within the Agency the Massachusetts export development program, successor to the Massachusetts export finance program, to expand employment and income...
- Massachusetts General Laws - Issuance of bonds; bond reserve fund - Chapter 23G, Section 8
(a) The Agency may finance industrial development facilities and pollution control facilities and waste disposal facilities and exercise the powers of an industrial development financing...
- Massachusetts General Laws - Investment in bonds by public officers, public bodies, insurance or banking institutions - Chapter 23G, Section 9
The bonds of the Agency and any loan or extension of credit which is the subject of insurance or reinsurance or an insurance or reinsurance...
- Massachusetts General Laws - Biennial audit - Chapter 23G, Section 10
The books and records of the Agency shall be subject to a biennial audit by the auditor of the commonwealth.
- Massachusetts General Laws - Marine Seafood Processing Revolving Loan Fund; separate accounts - Chapter 23G, Section 11
The Marine Seafood Processing Revolving Loan Fund established under the provisions of section 38A of chapter 23A shall be under the control of the Massachusetts...
- Massachusetts General Laws - Marine Seafood Processing Revolving Loan Fund; rules and regulations advisory council; loan authorization - Chapter 23G, Section 12
The Massachusetts Development Finance Agency may establish rules and regulations relative to the Marine Seafood Processing Revolving Loan Fund. In addition thereto the Agency is...
- Massachusetts General Laws - Grant and approval of loans - Chapter 23G, Section 13
The board of directors of the Agency may, upon application by a marine seafood processor, grant a loan based upon its finding that it will...
- Massachusetts General Laws - Acquisition of lands - Chapter 23G, Section 14
Whenever the United States shall give notice that any lands, or any interest therein, are available for disposal or make advertisement for bids with respect...
- Massachusetts General Laws - Conveyance of land to agency or Boston redevelopment authority - Chapter 23G, Section 15
Notwithstanding any provision of general or special law to the contrary, upon the recording in the Suffolk county registry of deeds of a deed or...
- Massachusetts General Laws - Acquisition of surplus or blighted lands; redevelopment or incubator development plans; approval - Chapter 23G, Section 16
The Agency may take possession of or acquire blighted lands or incubator development lands or an interest therein or make loans, loan guarantees or grants...
- Massachusetts General Laws - Designations; walking track; tennis courts - Chapter 23G, Section 16A
The department of environmental management shall designate the walking track located at the Quinsigamond state park in the city of Worcester as the, “State Representative...
- Massachusetts General Laws - Borrowing of money - Chapter 23G, Section 16B
Notwithstanding the provisions of any general or special law to the contrary, North Shore Community College, with the approval of the board of higher education,...
- Massachusetts General Laws - Taking of land by eminent domain - Chapter 23G, Section 16C
The department of fisheries, wildlife and environmental law enforcement may take by eminent domain under chapter 79 of the General Laws for endangered species habitat...
- Massachusetts General Laws - Disposition of lands; valuation - Chapter 23G, Section 17
Any disposition of lands, or an interest therein, which were acquired by the Agency pursuant to section 16 may be made in such manner whether...
- Massachusetts General Laws - Government Land Bank Fund - Chapter 23G, Section 18
There shall be established and set up on the books of the commonwealth a separate fund, to be known as the Government Land Bank Fund....
- Massachusetts General Laws - Liability for payment of bonds issued under prior act - Chapter 23G, Section 18A
The commonwealth shall remain liable for the payment of bonds issued under section 8A of chapter 212 of the acts of 1975, as amended, and...
- Massachusetts General Laws - Grants; financing transactions; approval of applications - Chapter 23G, Section 19
The Agency may make grants and undertake financing transactions under the provisions of clause (29) of section 3 only upon the approval by the Agency...
- Massachusetts General Laws - Small business incubator facilities; location restriction - Chapter 23G, Section 20
The small business incubator facilities that receive financial assistance from the Agency shall not be located within a 25 mile radius of another small business...
- Massachusetts General Laws - Application requirements for incubator development plan, loans or grants - Chapter 23G, Section 21
In addition to other requirements contained in this chapter, each incubator development plan or loan, loan guarantee or grant application related to a small business...
- Massachusetts General Laws - Application approval; requirements by incubator sponsor - Chapter 23G, Section 22
Before approving an application to a small business incubator facility, the incubator sponsor shall require that an applying business must show evidence of the following:...
- Massachusetts General Laws - Incubator facilities; tenant businesses; time limitation - Chapter 23G, Section 23
The incubator sponsor shall require tenant businesses to leave the incubator facility within five years. The incubator sponsor, upon determination by the governing board of...
- Massachusetts General Laws - Authorization to borrow; issuance of bonds and notes - Chapter 23G, Section 24
The state treasurer may borrow from time to time on the credit of the commonwealth such sums of money as may be necessary, but not...
- Massachusetts General Laws - Issuance and sale of bonds - Chapter 23G, Section 25
To provide for the acquisition, holding, protection, maintenance or use of lands as provided by clause (29) of section 3, to provide for making loans,...
- Massachusetts General Laws - Contract assistance for debt service obligations - Chapter 23G, Section 26
The state treasurer acting on behalf of the commonwealth shall enter into an agreement with the Agency providing that the commonwealth shall provide contract assistance...
- Massachusetts General Laws - Emerging Technology Fund - Chapter 23G, Section 27
(a) There shall be within the agency an Emerging Technology Fund, to which shall be credited appropriations, bond proceeds or other monies authorized by the...
- Massachusetts General Laws - Advisory committee; membership; terms; quorum; reimbursement for expenses - Chapter 23G, Section 28
(a) There shall be an advisory committee to the Emergency Technology Fund established in section 27 which shall consist of the director of the Massachusetts...
- Massachusetts General Laws - Debt obligations - Chapter 23G, Section 29
The Agency may provide by resolution for the issuance from time to time of debt obligations of the Agency for any of its corporate purposes,...
- Massachusetts General Laws - Brownfields Redevelopment Fund - Chapter 23G, Section 29A
(a) There is hereby established and placed within the Massachusetts Development Finance Agency, referred to in this section as the agency, the Brownfields Redevelopment Fund,...
- Massachusetts General Laws - Accounts of receipts and expenditures; annual report - Chapter 23G, Section 30
The Agency shall keep accurate accounts of all receipts and expenditures of the Government Land Bank Fund; and shall make a report annually containing an...
- Massachusetts General Laws - Rents and charges for services or facilities furnished or supplied by agency - Chapter 23G, Section 31
Rents and charges for services or facilities furnished or supplied by the Agency shall not be subject to supervision or regulation by any department, division,...
- Massachusetts General Laws - Liability in contract or tort - Chapter 23G, Section 32
Except to the extent otherwise provided at law including, without limitation, section 12 of chapter 498 of the acts of 1993, the Agency shall be...
- Massachusetts General Laws - Exemption from taxation - Chapter 23G, Section 33
The lands and tangible personal property of the Agency shall be deemed to be public property used for essential public and governmental purposes and shall...
- Massachusetts General Laws - Annual report - Chapter 23G, Section 34
The Agency shall annually submit to the governor, the chairman of the senate ways and means committee, the chairman of the house ways and means...
- Massachusetts General Laws - Building projects; contracting or incurring obligations for project design or construction - Chapter 23G, Section 35
As used in this section the words “building project” shall mean a project undertaken for the design, construction, installation, repair or maintenance of building and...
- Massachusetts General Laws - Interests in land, mortgages, liens and security interests; transfer upon termination of agency - Chapter 23G, Section 36
Upon termination of the Agency’s existence, title to all lands or any interest therein, which immediately prior to said termination, is held by the Agency,...
- Massachusetts General Laws - Monies credited to Government Land Bank Fund; reversion upon termination of agency - Chapter 23G, Section 37
Upon the termination of the Agency’s existence, all monies credited to the Government Land Bank Fund shall, after payments, other than the interest on or...
- Massachusetts General Laws - Books, papers, records, documents and equipment; transfer upon termination of agency - Chapter 23G, Section 38
Upon the termination of the Agency’s existence, all books, papers, records, documents, and equipment, which immediately prior to said termination, are in the custody of...
- Massachusetts General Laws - Agreements, contracts, leases and other obligations; performance and enforcement upon termination of agency - Chapter 23G, Section 39
Upon the termination of the Agency’s existence, all then existing agreements, contracts, leases and other obligations of the Agency or to which the Agency is...
- Massachusetts General Laws - Proceedings and prosecutions pending upon termination of agency - Chapter 23G, Section 40
Upon the termination of the Agency’s existence, all petitions, hearings and other proceedings duly brought before, and all prosecutions and legal and other proceedings duly...
- Massachusetts General Laws - Incubator Program Fund - Chapter 23G, Section 41
There is hereby established the Incubator Program Fund which shall be under the control of the Agency, but shall consist of a separate account or...
- Massachusetts General Laws - Massachusetts Cultural Facilities Fund - Chapter 23G, Section 42
(a) It is in the best interest of the commonwealth to promote the prosperity and general welfare of all citizens by enhancing cultural activities throughout...
- Massachusetts General Laws - Cultural facilities fund advisory committee; members; review of applications for grant and loans - Chapter 23G, Section 43
There shall be a cultural facilities fund advisory committee, the function of which shall be strictly advisory to the agency in connection with the management...
- Massachusetts General Laws - Application of other laws to the agency - Chapter 23G, Section 44
The agency shall be subject to section 16G of chapter 6A and section 56 of chapter 23A.
- Massachusetts General Laws - Commonwealth advanced manufacturing futures program; grants and loans; performance evaluations; annual reports - Chapter 23G, Section 45
There shall be established within the agency a commonwealth advanced manufacturing futures program. The purpose of the program shall be to support commonwealth companies engaged...
Last modified: September 11, 2015