Update on the Unemployment Insurance Trust Fund Sale

The Massachusetts House of Representatives (the “House”) introduced legislation earlier this week that proposes allocating $300 million to the Unemployment Insurance Trust Fund. As of this date, the House has not yet acted on this proposed legislation. This legislation must be agreed to by both the House and the Senate by the end of the Legislature’s session on July 31, 2022, and subsequently signed into law by the Governor. Passage of this legislation may affect the size and structure of the bonds. Accordingly, the Commonwealth has postponed the above-referenced sale until August*.

*Preliminary, subject to change.