Massachusetts General Laws ch. 40G sec. 6 – Annual report of activities
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Section 6. The MTDC shall annually submit a complete and detailed report of the corporation‘s activities within ninety days after the end of the fiscal year to the clerk of the house of representatives and to the clerk of the senate. The report shall contain the number of additional jobs created and the number of persons hired as a result of the activities of the corporation who were recipients of programs provided for in chapter 115, 117A, or 118. The report shall detail the corporation’s experience over the previous year in meeting the requirements of clause (2) of the fifth paragraph of section 4.
Terms Used In Massachusetts General Laws ch. 40G sec. 6
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.