Stanley, Lawn Pass Much Needed Borrowing Bill With Historic Vote

May 12, 2020 – BOSTON – During its historic first remote voting formal session, Rep. Tom Stanley and Rep. John Lawn, along with their colleagues in the House of Representatives, passed legislation to authorize necessary state borrowing during the COVID-19 public health emergency.

“During these unprecedented times, we remain focused on securing public health for all residents as well as the financial health of our state,” said Rep. Stanley. “Passage of this important legislation will ensure that the fiscal health of the Commonwealth remains strong and that we are able to maintain critical services that our constituents rely upon.”

"In the aftermath of the COVID-19 outbreak, the Legislature, working closely with the Baker Administration, passed legislation that moved the income tax filing deadline for residents. While this step helped thousands of people have more time to prepare their tax returns, it created a serious cash flow problem for the State,” said Rep. Lawn. “

The legislation, An Act to Facilitate the Delay of the Income Tax Filing Deadline, authorizes the State Treasurer to borrow in anticipation of tax receipts by the end of Fiscal Year 2020 and to repay those sums by June 30, 2021. This action is necessary due to the delay in tax revenue as a result of the extended deadlines of income tax filings and payments to July 15, 2020, which were extended because of the COVID-19 public health emergency.

The session, which included remote voting, was the first held following the passage of Emergency Rules enabling Members to vote and debate safely in the midst of the COVID-19 pandemic.

The bill will now go to the Senate.