#2023-17, August 4, 2023

MA Legislature Sends $56.2 Billion Fiscal Year 2024 (FY2024) Budget to Governor Healey

Earlier this week, the MA Legislature enacted a $56.2 billion FY2024 budget on Monday, which is now before Governor Maura Healey (D – Arlington). The Governor has until next Thursday, August 10 to offer amendments, veto certain sections and sign the budget. In the interim, Governor Healey signed a $6 billion temporary budget last week that will fund state government until the FY2024 budget is signed into law.

The Association is pleased to see Association- supported language aimed at further tackling the mounting so-called “crumbling foundation” issue in the central and southern part of the state be included in the final FY’24 bill. The language, offered by former Senator Anne Gobi (D- Spencer), seeks implementation of testing for the troublesome element, pyrrhotite, at quarries throughout Massachusetts. Other language, which aims to add Prudent Investor Standards as an additional option for trust funds managed by municipalities, which was carefully vetted and redrafted - with the Association’s input – is also included in the final budget bill.

Of note, Legislators left roughly $580 million aside for possible tax relief legislation that remains in conference and may be considered after the Legislature’s August break.

For more information on the FY2024 budget, click the links below:

• Fiscal Year 2024 Budget Final Compromise Bill
• Massachusetts Taxpayers Foundation – FY2024 Conference Committee Report Summary

We will keep you posted on any developments.

Update: Beacon Hill Report

August is typically a slow month at the State House as legislators conduct business in their districts and with few formal legislative sessions scheduled. As such, there may not be a Beacon Hill Report each week. We look forward to being back in your email inbox on a weekly basis after Labor Day!

As always, don’t hesitate to reach out to us directly with any questions.