Massachusetts House Passes $425 Million Economic Development Bond Bill 142-5

BOSTON — July 8, 2026 — Massachusetts House advances $425 million economic development bond bill with broad housing and innovation provisions. The House voted 142-5 Tuesday to adopt Consolidated Amendment A to H.5562, "An Act Relative to Economic Development in the Commonwealth," which authorizes $425.1 million in capital spending across nine priority areas including defense manufacturing, applied AI, quantum computing, and housing. Representative Carole A. Fiola of Fall River, the bill's lead sponsor, called it "the next chapter of our next 250 years as a commonwealth," citing a new $100 million defense authorization tied to the Healy administration's SHIELD initiative and a $200 million bridge reserve to protect public colleges from federal research funding cuts. Representative Richard M. Haggerty of Woburn argued the state must build 220,000 housing units over the next decade, highlighting a commercial conversion fund, $20 million for veterans' housing, and a first-of-its-kind Tenant Opportunity to Purchase Act. The bill also reduces LLC formation fees from $500 to $100 and extends the state film tax credit claim window from 12 to 24 months. A separate Watertown property tax classification bill passed 142-0 on a recorded vote.