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Lawmakers hear arguments for a Massachusetts public bank and a climate bank to fund local projects
Summary
Sponsors and supporters described two proposals — a Massachusetts public bank (H.1114 / S.736) and a climate bank (H.3937 / S.786) — as tools to leverage state capital into low‑cost lending for municipalities, small businesses, climate projects and underserved communities. Supporters said models in Connecticut and North Dakota provide precedent.
Two related financing proposals drew broad panels of supporters arguing that state‑level public finance tools can unlock private capital and make projects bankable.
Climate bank (H.3937 / S.786): Rep. Joan Moschino framed the climate bank as a vehicle to provide inexpensive capital for clean energy, resilience and climate‑tech projects and to leverage public seed money to attract private investment. Testimony from energy and environmental groups (Green Energy Consumers Alliance, 3.50 Mass, local climate coalitions) cited Connecticut’s climate bank as a working model that helps homeowners finance heat pumps,…
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