Purpose and Authority

(1) Authority. 946 CMR 3.00 et seq. is promulgated pursuant to the authority of Massachusetts Development Finance Agency under St. 1998, c. 463 and St. 1998, c. 289, § 24, and M.G.L. c. 23G, § 29A. (2) Purpose. The purpose of 946 CMR 3.00 is to establish the terms, procedures and standards which the MassDevelopment shall employ to: (a) process Applications, (b) make lending decisions; (c) safeguard the Fund; and (d) accomplish the purposes of the Fund.