[1] The MSBA, upon the initiative of applicant municipal and regional school districts, partially funds school facility construction and develops financially sound plans for constructing educationally appropriate buildings that are long-lived, safe, and economically and environmentally sustainable.
The source of MSBA revenue funds is one cent of the 6.25-percent sales tax of the Commonwealth of Massachusetts.
[3] In 2004, the Massachusetts legislature placed a moratorium on state assistance to the funding of public school capital expenditure projects.
[2] In July 2004, the legislature enacted the bill creating the MSBA, and on July 26, the then Governor, Mitt Romney, signed the bill into law as Chapter 208 of the Acts of 2004, establishing the new public authority, which assumed responsibility for the School Building Assistance Program, its debt obligations and other previous commitments.
[2] To fulfill its mission of developing fiscally responsible and educationally appropriate capital improvements, the MSBA has:[2]