Massachusetts legislation · 194th General Court
Massachusetts S3092: An Act authorizing the city of Newton to issue pension obligation bonds or notes
Status: In committee, August 6, 2026
What the bill says
From the introduced text, May 21, 2026:
SECTION 1. The city of Newton may issue, at 1 time or from time to time, bonds or notes for the purpose of funding all or a portion of the unfunded pension liability of the retirement system of the city of Newton. The proceeds of any such bonds or notes, other than amounts to be applied to issuance costs, establishment of a pension system stabilization fund and expenses, shall be paid by the city of Newton to the retirement board of the city of Newton, shall be allocated solely to reduce the unfunded pension liability to which the bonds or notes relate, shall be invested in any investments which are permitted under chapter 32 of the General Laws and shall otherwise be held and expended by the retirement board of the city of Newton in accordance with law. The terms of any such bonds or notes shall not exceed 30 years from the date of issuance and the amount of any such bonds or notes shall be outside the limit of indebtedness prescribed in section 10 of chapter 44 of the General Laws. Upon the authorization of the issuance of pension obligation bonds by the city of Newton, the city of Newton shall submit the vote and a plan demonstrating how the city of Newton will finance and allocate the …
Sponsors
- Cynthia Creem (D) · primary sponsor
- Gregory Schwartz (D)
- Amy Sangiolo (D)
Latest actions
- : New draft substituted (Creem), see S3249
- : Read third
- : Taken out of the Orders of the Day
- : Committee reported that the matter be placed in the Orders of the Day for the next session
- : Bill reported favorably by committee and referred to the committee on Senate Rules
- : Hearing scheduled for 06/23/2026 from 01:00 PM-03:00 PM in A-1
- : House concurred
- : Referred to the committee on Municipalities and Regional Government
- : Rules suspended
- : Referred to the committee on Rules of the two branches, acting concurrently
Votes
- Committee Vote - Senate Committee on Rules (July 28, 2026): 6 yea, 0 nay, passed
- Committee Vote - Joint Committee on Municipalities and Regional Government (July 9, 2026): 6 yea, 0 nay, passed
Common questions
- What is S3092?
- S3092 is a bill in the Massachusetts Legislature (194th General Court): An Act authorizing the city of Newton to issue pension obligation bonds or notes.
- What is the status of S3092?
- In committee as of August 6, 2026. Latest action: New draft substituted (Creem), see S3249 (August 6, 2026).
- Who sponsored S3092?
- Cynthia Creem (D), with 2 co-sponsors.
- Where is the official record for S3092?
- On the Massachusetts Legislature website: https://malegislature.gov/Bills/194/S3092
Source: official Massachusetts record. Tracked by Delilah, AI for legislation across all 50 states and Congress.