Massachusetts Clean Energy Center Employee Bond

MassachusettsOn 08/12/2008, a new law was enacted in the state of Massachusetts which implemented a clean energy center. The new law, HB 5018, produces the Massachusetts Clean Energy Technology Center for the promotion and support of clean energy technologies and the expansion of jobs in this region. HB 5018 requires the officers and employees of the Clean Energy Center to post a surety bond if such individuals have access to the cash or securities. The surety bond amount and the surety company who writes the bond will be determined by the center’s board. Blanket or schedule bonds will also be accepted. HB 5018 was acknowledged as an emergency measure, which resulted in the bill becoming effective upon enactment.