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Mass. governor signs bill to create $750 million matching pool to boost federal grant wins
Summary
Governor Maura Healey signed legislation creating a capital investment and debt reduction fund that will use interest on the state stabilization fund to provide up to $750 million in state matching funds and $12 million for municipal technical assistance to help cities and towns compete for federal grants.
Governor Maura Healey on Tuesday signed legislation to create a state capital investment and debt reduction fund that will allow Massachusetts to deploy up to $750 million over three years as match for federal grant programs.
The bill directs state officials to use interest earned on the Commonwealth’s stabilization ("rainy day") fund rather than the fund’s principal. "We are only using the interest of the fund," A&F Secretary Matt Gorkowitz said, adding that the corpus will not be touched. Gorkowitz told reporters the stabilization fund is projected to close fiscal 2024 at roughly…
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