reglab/statecodes huggingface dataset:
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29b - Contracts With Organizations Providing Social, etc., Services

Section 29B. The secretary of administration and finance shall make, and may from time to time amend, rules and regulations governing the procurement and administration of contracts with organizations providing social, rehabilitative, health or special education services. Such rules and regulations shall not be subject to chapter 30A. No person employed by an organization providing social, rehabilitative, health or special education services as defined above shall directly or indirectly supervise a temporary or permanent employee of the commonwealth. Such contracts shall not be written or used by any department, office, agency, board, commission or institution of the commonwealth to procure full or part-time personal services or equipment to be used by such department, office, agency, board, commission or institution, or any goods or services not required in the direct provision by the contractor of social, rehabilitative, health, or special education services to populations being served by the contracting department, office, agency, board, commission or institution.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29d - Private Debt Collectors, Employment by State Agencies

Section 29D. Notwithstanding any law to the contrary, the officer having charge of any state agency may retain the services of 1 or more private persons, companies, associations or corporations for the purpose of collection of debts owed to the commonwealth, other than those covered by section 3A of chapter 14, under agreements between the comptroller and said private persons, companies, associations or corporations. No state agency shall assign the account of any debtor to a private collection agency until such debtor has been sent a notice, at least 30 days prior thereto, of the intention of the agency to so assign the collection of such unpaid account of such debtor.
The comptroller shall from time to time, competitively procure agreements with 1 or more private persons, companies, associations or corporations for the provision of debt collection services on behalf of state agencies. No such agreement shall be entered into unless proposals for the same have been invited by public notice published in the central register under section 20A of chapter 9, within the COMMBUYS system, and in at least newspaper once a week for at least 2 consecutive weeks and the last publication to be at least 1 week prior to the time specified for the opening of said proposals. All such proposals shall be opened in public. The comptroller may reject any or all of such proposals. Any such agreement shall provide, in the discretion of the comptroller, the manner in which the compensation for such services will be paid. Under standards established by the comptroller, such compensation may be added to the amount of the debt and collected as part thereof by the contractor; deducted and retained by the contractor from the amount of debt collected; or paid by the commonwealth from the amount of debt collected without further appropriation therefor.
The comptroller shall, as part of the comptroller's annual report under section 12 of chapter 7A, list all private persons, companies, associations or corporations with whom the comptroller has agreements for collection services during the fiscal year and the amount of debts collected by and the compensation paid to each such person, company, association or corporation.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29e - Maximum Reimbursement for Project Costs

Section 29E. Notwithstanding any general or special law to the contrary, the comptroller may enter into contracts or interdepartmental service agreements for the purpose of identifying and pursuing increased revenue collection, cost avoidance, the maximum reimbursement opportunities for certain federally assisted and other programs of the commonwealth and any other reimbursements of overpayments or other revenues. The contractor payments, or oversight costs or fees related to this section shall be paid from the revenues or reimbursements collected, or as otherwise considered appropriate by the comptroller, without further appropriation, and the comptroller shall establish accounts and procedures within the affected departments as the comptroller considers appropriate and necessary to accomplish the revenue generation purposes of this section. The comptroller shall notify, in writing, the house and senate committees on ways and means 60 days before entering into any contract authorized under this section. The comptroller shall report on said projects as a part of the comptroller's annual report under section 12 of chapter 7A.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29g - Utility Expenses of Commonwealth; Recoupment of Overcharges

Section 29G. Notwithstanding any general or special law to the contrary, the officer having charge of a state agency may retain the services of private persons, companies, associations or corporations for the purpose of recoupment of overcharges to the commonwealth for utility expenses including, but not limited to, electric, gas, water and sewer expenses, under agreements between the operational services division within the executive office for administration and finance and any such private persons, companies, associations or corporations. The state purchasing agent of the operational services division shall, from time to time, enter into agreements with private persons, companies, associations or corporations for the provision of overcharge recoupment services on behalf of state agencies. No such agreement shall be entered into unless proposals for the same have been invited by public notice published in such manner as the state purchasing agent shall direct to ensure the widest possible cost-effective dissemination of the notice, for at least 2 consecutive weeks prior to the time specified for the opening of said proposals. All such proposals shall be opened in public. Said state purchasing agent may reject any and all proposals. Any such agreements shall provide, in the discretion of said state purchasing agent, the manner in which compensation for such services shall be paid. Under regulations established by said state purchasing agent, such compensation may be deducted and retained from the recoupment of overcharges or paid by the commonwealth from existing expenditure accounts without additional appropriation therefrom; provided, further, that said state purchasing agent shall allow access to such agreements by political subdivisions of the commonwealth, including but not limited to towns, cities, counties, local housing authorities and any other instrumentalities. Said state purchasing agent shall report to the comptroller annually a list of all private persons, companies, associations or corporations with whom said state purchasing agent has agreements for recoupment of overcharges during the fiscal year, and the amount of overcharges recouped and the compensation paid to each such person, company, association, or corporation. Said comptroller shall include and disclose this information as part of the annual report under section 12 of chapter 7A.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29h - Overdue Payments to Commonwealth; Late Charges

Section 29H. (a) Except as otherwise provided by law, the comptroller may assess late charge rates, in addition to any other late fees or interest provided by law, against any person, entity or contractor owing an overdue payment to the commonwealth, or to a city, town housing or other authority or entity as provided under section 8 of chapter 7A, subject to the following provisions:—
(1) that the required payment date shall be the date on which payment is due under the laws, rules or regulations administered by the comptroller or other entity authorized to charge a late fee or interest; and
(2) that notice of intent to assess and collect late charges through debt collection, intercept or other legal process shall be provided to the debtor prior to collection.
(b) The comptroller may adopt rules and regulations to implement this section.
(c) The comptroller shall deposit all late fees and interest that the comptroller collects on behalf of the commonwealth in the revenue account that pertains to the original accounts receivable, and shall retain and expend all other late charges assessed under this section without further appropriation, in consultation with the information technology division of the executive office for administration and finance, for the costs of electronic revenue collection options, including intercept, that increase revenue and debt collection within the commonwealth.
(d) The comptroller shall include in the annual financial report a summary report on any late charges collected under this section during the t preceding fiscal year. The report shall include the number, amounts and frequency of late charges collected, summarized by state agency and secretariat, where applicable.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29i - Payment System for Interdepartmental Fiscal Transactions; Service Agreements and Chargebacks; Reports

Section 29I. The comptroller shall develop and implement a payment system and regulations for interdepartmental fiscal transactions including interdepartmental service agreements and interdepartmental chargebacks. The chargeback system and regulation shall require state agencies that purchase legislatively authorized goods or services from approved chargeback departments to remit fiscal obligations within 30 days of receipt of notice of said obligation. The comptroller shall submit periodic reports on request to the house and senate committees on ways and means listing those agencies which do not meet the 30 day payment schedule. Said report shall also include but not be limited to the identification of the agency receiving said goods or services and the agency providing said goods or services; provided, that said identification includes the name of the agency and the item number, the goods or services provided, and the amount of outstanding obligation. The comptroller may take such action as the comptroller deems necessary to ensure i compliance with the payment obligations under this section.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 29j - Use of State Funds to Pay for Executive or Legislative Agent Prohibited

Section 29J. Notwithstanding section 50 of chapter 3, or any other general or special law to the contrary, a state agency or state authority shall not use state funds to pay for an executive or legislative agent, as defined in section 39 of said chapter 3, unless the executive or legislative agent is a full-time employee of the state agency or state authority.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 30 - Insuring Property of the Commonwealth

Section 30. No officer or board shall insure any property of the commonwealth without special authority of law. Notwithstanding the foregoing sentence, the executive office for administration and finance may, in consultation with the Massachusetts emergency management agency, approve a state agency request for permission to insure a property of the commonwealth that has been damaged if the costs of repair for the property are eligible under a presidentially declared disaster and the state agency would otherwise be ineligible for federal reimbursement unless insurance is obtained and maintained.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 31c - Schools and Colleges; Non-Teaching Positions; Vacation Time

Section 31C. Any officer or employee of the commonwealth, employed in a non-teaching position in any school or college within any department of the commonwealth, whose regular service is rendered between September 1 and June 30, may be granted the vacation leave to which the officer or employee is entitled either during the period of the officer or employee's regular service, or after the expiration of said period, as is determined by the employing authority of such officer and employee. Funds made available by appropriation for the payment of personal services required in the operation and maintenance of such schools shall be available for the payment of vacations, which, under the authority of this section, are granted to be taken after the termination of the period of regular service of an officer or employee subject to this section.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 31d - Payment of Salaries Upon Death of Officers or Employees; Discharge of Liability

Section 31D. Whenever an officer or employee or former officer or employee of the commonwealth dies, and the commonwealth owes that officer or employee any sum or sums, by reason of services rendered or by reason of the terms of the officer or employee's employment, the comptroller may issue such sums to the beneficiaries designated to the employee under section 31A. Payments made as provided in this section shall discharge the liability of the commonwealth to all persons with respect to such sum or sums.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 31e - Voluntary Services at Public Schools by State Employees; Effect on Salaries

Section 31E. Notwithstanding any general or special law to the contrary, a state employee, during working hours and at such times as are approved by the employee's supervisor and under regulations promulgated hereunder, may, without loss of salary, provide voluntary services at a public elementary, secondary, or vocational-technical school to assist the improvement of a student's or school's educational program; provided, however, that said voluntary services do not exceed the equivalent of 1 work day per month. There shall be no requirement that the employee have a child as a student in the school or school district. Said services shall not be compensated by a school.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 32 - Time for Presentment for Payment of Checks Issued by the State Treasurer; Place for Payment of Checks Not Timely Presented; Transfer of Unclaimed Funds; Refunds

Section 32. Any check issued by the state treasurer or by any agent or agency of the commonwealth, other than checks issued in payment of obligations of the state board of retirement, the teachers' retirement board and the MassHealth program, which is not presented for payment within 1 year after its issue date, shall be payable only at the office of the state treasurer. Any check issued on behalf of the MassHealth program, which is not presented for payment within 180 days after its issue date, shall be payable only at the office of the state treasurer. Annually, on June 30, the comptroller shall transfer to the Unclaimed Property Fund, established in section 9 of chapter 200A, all funds that are identified by the state treasurer as funds of the commonwealth that have remained in the unclaimed check fund for not less than 1 year. On such date, the comptroller also shall refund to the unemployment compensation fund and to each applicable account of monies separately accounted for by the comptroller as other than commonwealth monies, such amounts which in the opinion of the state treasurer represent all monies of such unemployment compensation fund or such account which have remained in the unclaimed check fund for at least one year. All checks issued in payment of obligations of the state board of retirement and the teachers' retirement board shall be payable only under subdivision (3) of section 11 of chapter 32.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 32a - Unpaid Wages and Salaries; Unclaimed Wage Fund; Refunds

Section 32A. No wage or salary which is or shall be due from the commonwealth shall be payable later than 6 years after the same has or shall become due, and the obligation of the commonwealth to pay such wage or salary or otherwise to pay for the services rendered by the person to whom the wage or salary is or shall be due shall not be enforceable if the wage or salary is not claimed within 6 years after the same has or shall become due; provided, however, that section 32 shall be applicable and controlling in the case of any wage or salary represented by a check issued by the state treasurer or by any agent or agency of the commonwealth. On June 3 0 in each year the comptroller shall transfer to the General Fund so much of the balance then in the unclaimed wage fund as, in the opinion of the state treasurer, shall not be needed for payments during the ensuing fiscal year from the said unclaimed wage fund. On such date the comptroller also shall refund to the unemployment compensation fund and to each applicable account of monies separately-accounted for by the comptroller as other than commonwealth monies, such amount of the said balance as the state treasurer shall advise the comptroller shall represent all unclaimed wages or salaries from monies of the said fund or such account, respectively, the payment of which shall have been outlawed under this section during the fiscal year ending on such date.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 34 - Deposit of Public Monies

Section 34. (a) State officers, departments, institutions and other agencies may, with the written consent of the state treasurer, deposit a portion of the public monies in their possession in national banks, federal savings banks and federal savings and loan associations, lawfully doing business within the commonwealth, and in trust companies, savings banks and 1 cooperative banks chartered under the laws of the commonwealth. The state treasurer shall publish a list of qualified banks and shall transmit that list at least once every 6 months to the governor. The state treasurer shall not include on the list a state-chartered bank having a descriptive rating as described in clauses (d) or (e) of the sixth paragraph under section 14 of chapter 167 or any federally insured depository institution having an assigned rating of (C) or (D) under section 807(b) (2) of the Community Reinvestment Act of 1977, 12 U.S.C. 2901 et seq.
(b) A state treasurer who knowingly makes a deposit in violation of subsection (a) shall be guilty of misconduct and maladministration in the treasurer's office within the meaning of the constitution, any other officer who knowingly makes a deposit in violation of subsection (a) shall be guilty of misconduct and maladministration in his office, and a depository institution knowingly receiving a deposit in violation of subsection (a) shall be disqualified from receiving such monies for 3 years from the date of the deposit.
(c) All interest received on any deposits under this section shall be paid to the commonwealth.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 35 - Bonds or Other Securities; Assignments, Etc.

Section 35. No bond or security belonging to the commonwealth shall be transferred except with the written approval of the governor. A note, bond, mortgage or other security which has been made to the state treasurer by name may be assigned, transferred or discharged by him or by any successor in office.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 36 - Mortgages Held by Commonwealth; Discharge; Assignments

Section 36. If the state treasurer is authorized to discharge a mortgage held by the commonwealth, the state treasurer may assign it instead of discharging it; but such assignment shall not impose upon the commonwealth any liability, express or implied.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 37 - Real Estate Acquired by Foreclosure; Sale by State

Section 37. Real estate acquired by the commonwealth by foreclosure may, with the approval of the governor and council, be conveyed by the state treasurer upon payment of the amount of the mortgage debt with the interest and expenses accrued thereon.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 38a - Investment Funds; Establishment; Sale of Participation Units

Section 38A. Notwithstanding any general or special law to the contrary, the state treasurer may establish 1 or more combined investment funds to invest funds of the commonwealth, trust funds, and funds under the custody of agencies, authorities, commissions, boards, political subdivisions and other 1 public units within the commonwealth; provided, that the state treasurer shall adopt appropriate accounting procedures from which the exact interest of such funds so combined for investment can be determined. The state treasurer may adopt such rules and regulations as may be necessary to administer this section. The management of any fund established under this paragraph shall be competitively procured not later than once every 7 years.
The state treasurer may sell to all agencies, authorities, commissions, boards, political subdivisions and other public units within the commonwealth, participation units in any such combined investment fund. Such participation units issued by the treasurer are made legal investments for all the funds under the custody of such agencies, authorities, commissions, boards, political subdivisions and other public units within the commonwealth. With the advice of the investment advisory council, the state treasurer shall adopt rules and regulations as may be necessary to administer this section.
The state treasurer may invest any funds established under this section in only those instruments permitted within this chapter or chapter 32.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 38b - Deferred Compensation Committee

Section 38B. There shall be in the office of the state treasurer a deferred compensation committee, consisting of 3 members; 1 of whom shall be appointed by the governor, shall represent the employees who contract with the state treasurer for a deferred compensation program under section 64 and shall be chairman; 1 of whom shall be appointed by the commissioner of insurance; and 1 of whom shall be appointed by the state treasurer. Said committee shall meet from time to time and shall oversee the day to day operation of the deferred compensation program. The members of said committee shall serve without compensation, but shall be reimbursed for expenses necessarily incurred in the performance of their duties.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 38c - Investments; Bonds or Notes; Contracts; Powers of State Treasurer; Payments to Constitute General Obligations

Section 38C. In connection with or incidental to the acquisition or carrying of any investment or program of investment or carrying of bonds or notes, the state treasurer, after consultation with the state finance and governance board established under section 97 of chapter 6, may enter into such contracts as the state treasurer may determine to be necessary or appropriate to place the investment or obligation of the commonwealth, as represented by the bonds or notes, investment or program of investment and the contract or contracts, in whole or in part, on such interest rate or cash flow basis as the treasurer may desire, including without limitation interest rate swap agreements, insurance agreements, forward payment conversion agreements, futures, contracts, contracts providing for payments based on levels of, or changes in, interest rates or stock or other indices, contracts to exchange cash flows or a series of payments and contracts to hedge payment, rate, spread or similar exposure, including without limitation interest rate floors or caps, options, puts and calls. Such contracts shall contain such payment, security, default, remedy and other terms and conditions as the state treasurer, after consultation with the finance advisory board, may deem appropriate and shall be entered into with such party or parties as the state treasurer, after consultation with the finance advisory board, may select, after giving due consideration, where applicable, for the creditworthiness of the counterparty or counterparties, including any rating by a nationally recognized rating agency or any other criteria as may be appropriate. Scheduled, periodic payments to be made by the commonwealth under any such contract in existence on August 1, 2008 or any such contract related to bonds or notes of the commonwealth which shall be entered into by the state treasurer after August 1, 2008 shall constitute general obligations of the commonwealth to which the full faith and credit of the commonwealth shall have been pledged. The state treasurer may expend amounts received under this section without further appropriation to make payments under this section or to pay debt service on debt obligations of the commonwealth, including, without limitation, by funding escrow accounts for the payment of such debt service.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 39 - Bonds, etc., Held by Commonwealth; Exchanges

Section 39. When the commonwealth holds any bond, note or certificate of indebtedness payable to bearer and issued by a county, city, town or district or any domestic corporation, such county, city, town, district or corporation shall, at the request of the state treasurer, issue in exchange therefor a bond, note or certificate of the same effect, payable to the commonwealth by name. The commonwealth shall pay the expense involved in making such exchange. Any county, city, town, district or corporation neglecting or refusing to comply with this section shall be punished by a fine of not more than $50.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 40 - Trust Deposits With State; Form; Investment

Section 40. No deposit required to be made by any corporation in trust with the state treasurer, or any part thereof, shall consist of a mortgage upon real estate or of a loan upon personal notes or of notes secured by collateral. The state treasurer may receive, as a part of such deposit, money or certificates of deposit, or certified checks on any approved state depositary, and may hold the same without interest until it may reasonably be invested in a proper legal security.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 41 - Bonds, etc., of Commonwealth; Custody

Section 41. The state treasurer shall have the custody and keep a separate account of all notes, bonds and mortgages belonging to the commonwealth, and shall receive all money accruing therefrom. All deeds and instruments conveying real estate to the commonwealth shall, when recorded, be deposited with and safely kept by the state treasurer. Such records shall not include those pertaining to real property acquired for the use of state agencies, under sections 32, 33 and 39 of chapter 7C.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 47 - Borrowing in Anticipation of Receipts; Use of Notes to Pay Taxes of Bearer

Section 47. The state treasurer may borrow at any time during the fiscal year, in anticipation of the receipts for that year, such sums of money as may be necessary for the payment of ordinary demands on the treasury, and other legal obligations, including guaranties, of the commonwealth, and may issue notes therefor. Money so borrowed and notes so issued may be at such rates of interest as shall be found necessary. The state treasurer shall repay any sums borrowed under this section as soon after said receipts are paid as is expedient, but in any event before the close of the fiscal year in which the same were borrowed.
Notes issued under this section may bear on their face a statement that if principal and interest thereon are not paid when due said notes will be accepted thereafter at face value plus accrued interest to the date of such acceptance as payment to that extent of taxes owed by the bearer to the commonwealth under chapters 62, 62B, 63, or 63B. Notes bearing such legend shall be accepted in payment of such taxes, including penalty and interest thereon, at face value plus accrued interest by all persons responsible for collecting taxes but shall otherwise be payable under their terms as provided in the first paragraph of this section.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 48 - Signatures on Bonds and Notes

Section 48. Bonds issued by the commonwealth shall be signed by the state treasurer or a deputy treasurer and approved by the governor. Notes issued by the commonwealth shall be signed by the state treasurer or a deputy treasurer, approved by the governor, and countersigned by the comptroller or a deputy comptroller or an assistant to the comptroller.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 48a - Facsimile Signatures, Bonds, Notes, Interest Coupons; Signatures of Former Officers

Section 48A. Facsimiles of the signature of the governor on original issues or transfers of bonds or notes of the commonwealth shall have the same validity and effect as the governor's written signature, and facsimiles of the seal of the commonwealth may be used on bonds and notes of the commonwealth and shall have the same validity and effect as though said seal were impressed thereon. Interest coupons, if any, attached to any bond or note of the commonwealth may bear the facsimile signature of the state treasurer. If any officer whose signature or a facsimile of whose signature appears on any notes, bonds or coupons shall cease to be such officer before the delivery of, and receipt of proceeds from the borrowing evidenced by, such notes or bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until such delivery and receipt of proceeds.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 48b - Bonds and Notes; Official Statements; Advertising; Collateral Tax Consequences to Social Security Recipients

Section 48B. Any official statement prepared in connection with the sale of any bonds or notes of the commonwealth and all advertising of such bonds and notes, the interest on which is excludable from gross income for federal income tax purposes under section 103 of the Internal Revenue Code (26 USC 103), shall include a reference to the collateral tax consequences which may result under section 86 of said Code (26 USC 86) to the holders of such bonds or notes who are recipients of social security benefits.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 49a - Minibonds; Issuance and Sale; Limitations; Regulations

Section 49A. Notwithstanding any other general or special law to the contrary, whenever the state treasurer is authorized to issue and sell bonds of the commonwealth and the state treasurer determines to issue and sell all or a portion of such bonds in denominations of less than $5,000 (minibonds), the state treasurer may issue and sell such minibonds at public or private sale, maturing in such amounts and upon such dates, at such interest rate or rates, payable at such time and in such manner, at par or at discount, in bearer or registered form, and upon such other terms and conditions, all as the state treasurer shall determine to be in the best interests of the commonwealth; provided that (1) not more than $50,000,000 principal amount of minibonds shall be sold by the state treasurer in any 1 fiscal year; (2) no minibond shall mature more than 5 years after its date; (3) no 1 sale to a purchaser of minibonds shall be in an aggregate principal amount equal to or greater than $5,000; and (4) each minibond. shall provide that it shall be redeemed by the commonwealth upon due presentation by an appropriate person on any business day after 1 year from its date of sale by the state treasurer at such price as the state treasurer shall determine according to a schedule established with respect to each issue of minibonds prior to the sale thereof. The state treasurer may adopt regulations with respect to the issuance and sale of minibonds. A facsimile of the signature of the state treasurer on minibonds shall have the same validity and effect as the state treasurer's written signature. Sections 45, 49, and 53 of this chapter shall not apply to the issuance of minibonds.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 49b - Insurance or Credit Line Security for Bonds and Notes; Agreements With Brokers

Section 49B. In addition to any other security provided by laws, bonds and notes of the commonwealth may, in the discretion of the state treasurer, be secured or supported, in whole or in part, by insurance or by lines or letters of credit or other credit or liquidity facilities provided by any bank, trust company or other financial institution.
The state treasurer may enter into agreements with brokers for the placement of any such commonwealth notes issued as commercial paper.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 50 - Serial and Sinking Fund Payments; Certification

Section 50. The state treasurer shall annually in December certify to the budget director the amount necessary to provide for serial and sinking fund payments with respect to any bonds or notes of the commonwealth for the fiscal year beginning on July 1 following.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 53 - Notes or Bonds Maturing Later Than Three Years After Issuance; Requirements for Inviting Purchase Proposals; Waiver

Section 53. Whenever there is to be an issue of bonds or notes of the commonwealth maturing at a time later than 3 years from their dates, excepting such bonds or notes as are to be issued for the investment of cash in any of the sinking or other established funds of the commonwealth, the state treasurer shall solicit bids for the purchase thereof, and shall provide reasonable notice to the public of such solicitations. The state treasurer may reserve the right to reject any or all bids. If no bid is accepted, the whole or any part of the loan may be awarded to any person. Compliance with this section may be waived with respect to an issue of bonds or notes upon the approval of the state finance and governance board established under section 97 of chapter 6.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 54 - Deposits or Other Security for Proposals by Bidders

Section 54. The state treasurer may require each bidder submitting a proposal under section 53, as a condition precedent to the consideration of such bidder's proposal, to submit a good faith deposit or otherwise secure such bidder's proposal, in such manner and amount as the state treasurer shall determine to be appropriate.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 55 - Sale of Bonds, etc.; Expenditures

Section 55. The state treasurer may annually expend such sums as the general court shall appropriate for the purpose of providing for and advertising sales of bonds for the direct debt of the commonwealth and for the purpose of preparing and paying for bond books necessary for such sales.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 56 - Transfers of Reverted Funds; Sales of Bonds or Other Securities

Section 56. Funds from a sale of specific bonds or other securities which have reverted at the close of a fiscal year, under the act authorizing the expenditures to be financed by the sale of said bonds or other securities, or under section 14 shall first be transferred in the succeeding fiscal year or years on the books of account of the commonwealth, without appropriation, to the fund which is liable for the maturities on said bonds or other securities but only in such amount as is necessary to meet the specific bonds or other securities matured and paid from said fund, if any, in a fiscal year. When such transfers are no longer required to meet such maturities any balance of said funds remaining, after setting aside a sufficient amount to cover any such bonds or other securities which have matured but have not been presented for payment, shall be transferred, without appropriation, on the books of account of the commonwealth to the fund from which said bonds or other securities were paid.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 58 - Registered Bonds Exchanged for Coupon Bonds or Defaced Bonds

Section 58. The state treasurer may, upon terms and regulations prescribed by the governor and council, issue, in denominations of not less than $1,000, registered bonds in exchange for any coupon bonds of the commonwealth, which, with the exception of the coupons, shall be in conformity with the laws authorizing the issue of such coupon bonds. The state treasurer shall mutilate and retain the bonds so received in exchange. The comptroller shall certify such registered bonds; and the comptroller and the state treasurer shall each keep a register of their dates, numbers and amounts, the names of the persons to whom they were issued, when they are payable and for what bonds they were issued in exchange. The state treasurer may also, upon the same terms and regulations, issue in substitution for mutilated, defaced or endorsed bonds presented to the state treasurer other bonds of like or equivalent issues.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 59 - Lost or Destroyed Interest-Bearing Bonds; Duplicates

Section 59. If it appears to the governor and council that any interest-bearing bond of the commonwealth identified by number and description has, without bad faith upon the part of the owner, been lost or destroyed, wholly or in part, they shall, under regulations and with restrictions as to time and retention for security or otherwise prescribed by them, order the state treasurer to issue a registered duplicate of such bond, payable at the same time, bearing the same rate of interest as the bond lost or destroyed, and so marked as to show the number and date of the original bond. If such bond was of a class or series which has been called in for redemption before the application for a reissue, it shall be paid, with such interest only as would have been paid if the bond had been presented under such call.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 60 - Lost or Destroyed Interest-Bearing Bonds; Owner's Indemnity Bonds

Section 60. The owner of such bond shall surrender so much thereof as may remain, if any, and shall give to the state treasurer a bond in double the amount of said lost or destroyed bond and of the interest which would accrue until the principal is due and payable, with a sufficient surety, a resident of the commonwealth, approved by the governor and council, conditioned to indemnify and save harmless the commonwealth from any claim on account of said lost or destroyed bond.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 60a - General Obligations of the Commonwealth, Full Faith and Credit; Negotiable Instruments; Direct Debt Limit

Section 60A. Unless otherwise specifically provided, provisions contained in any act heretofore or hereafter enacted by a vote, taken by the yeas and nays of 2/3 of each house of the general court present and voting thereon, and approved by the governor, authorizing the state treasurer to issue and sell bonds or notes of the commonwealth or authorizing the commonwealth to borrow money requiring that the principal of and interest on such bonds or notes shall be (i) paid by or from a particular fund or funds of the commonwealth now existing or hereafter created, (ii) part of the debt and expenses of a particular district, or (iii) assessed by particular methods, or other provisions or words of similar import, shall not affect the status of such bonds and notes as general obligations of the commonwealth to which the full faith and credit of the commonwealth is pledged for the payment of principal and interest when due. All bonds and notes executed under this chapter shall be deemed to be general obligations of the commonwealth to which its full faith and credit is pledged for the payment of principal and interest when due, unless specifically provided on the face of such bond or note to the contrary. All bonds or notes of the commonwealth executed under this chapter shall have all of the qualities and incidents of negotiable instruments under the Uniform Commercial Code.
There is hereby established a direct debt limit for the commonwealth which shall apply to any direct bonds issued whose issuance would cause the sum of the principal amounts of all direct bonds issued by the commonwealth and then outstanding to exceed the limit set in this section; provided, however, that bonds for the payment or redemption of which, either at or prior to maturity, refunding bonds shall have been issued, shall be excluded in the computation of outstanding bonds; and provided, further, that for purposes of this section, the principal amount of bonds issued and outstanding shall be used in the computation of outstanding bonds. For the fiscal year starting July 1, 2011, such limit shall be $17,070,000,000. For each subsequent fiscal year, the limit shall be the product of the limit established for the previous fiscal year and 1.05. The calculation described in this paragraph shall be announced by the treasurer not later than September 30 of any year. The preceding paragraph shall not apply to direct bonds in excess of the direct debt limit. The treasurer may issue regulations enforcing this paragraph. Under no circumstances shall this paragraph be interpreted to impair any bond covenants or other guarantees to bond holders relative to any such bonds or notes issued prior to July 1, 1990.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 61 - Claims for Materials or Labor Against Commonwealth; Oath of Claimants

Section 61. The comptroller or any other person authorized to approve claims for materials, supplies or other articles furnished to, or for service or labor performed for, the commonwealth, may, before approving any such claim, require the claimant to certify on oath that all the articles have been furnished, for which the claim has been made, or that the service or labor has been performed, and that no commission, discount, bonus, present or reward of any kind has been received or promised or is expected on account of the same.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title III - Laws Relating to State Officers › Chapter 29 - State Finance › Section 63 - Unlawful Exercise or Departments Abuse of Power; Commonwealth, Commissions, Officers, etc.; Court Restraint

Section 63. If a department, commission, board, officer, employee or agent of the commonwealth is about to expend money or incur obligations purporting to bind the commonwealth for any purpose or object or in any manner other than that for and in which such department, commission, board, officer, employee or agent has the legal and constitutional right and power to expend money or incur obligations, the supreme judicial or superior court may, upon the petition of not less than 24 taxable inhabitants of the commonwealth, not more than 6 of whom shall be from any 1 county, determine the same in equity, and may, before the final determination of the cause, restrain the unlawful exercise or abuse of such right and power.