Massachusetts legislation · 194th General Court
Massachusetts S3249: An Act authorizing the city of Newton to issue pension obligation bonds or notes
Status: In committee, August 10, 2026
What the bill says
From the introduced text, August 6, 2026:
SECTION 1. The city of Newton may issue, 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. 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: (i) paid by the city to the retirement board of the city allocated solely to reduce the unfunded pension liability to which the bonds or notes relate; (ii) invested in any investments permitted under chapter 32 of the General Laws; and (iii) held and expended by the retirement board of the city 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 shall submit the vote and a plan demonstrating how the city will finance and allocate the debt service associated with the bonds or notes to the executive office for administration and finance and no bonds or notes authorized …
Sponsors
- Cynthia Creem (D) · primary sponsor
- Gregory Schwartz (D)
- Amy Sangiolo (D)
Latest actions
- : Read; and referred to the committee on House Ways and Means
- : Passed to be engrossed
- : New draft (Creem) of S3094
Common questions
- What is S3249?
- S3249 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 S3249?
- In committee as of August 10, 2026. Latest action: Read; and referred to the committee on House Ways and Means (August 10, 2026).
- Who sponsored S3249?
- Cynthia Creem (D), with 2 co-sponsors.
- Where is the official record for S3249?
- On the Massachusetts Legislature website: https://malegislature.gov/Bills/194/S3249
Source: official Massachusetts record. Tracked by Delilah, AI for legislation across all 50 states and Congress.