By Bob Katzen

The House 149-3, Senate 33-5, approved a package that would authorize $462 million in bonds for the Massachusetts Life Sciences Investment Fund with an emphasis on capital grants to increase diversity and opportunity in the Bay State life sciences and biotech industries.

Other provisions require that half of the consolidated net surplus in budgetary funds, up to $10 million, be directed to the Massachusetts Life Sciences Investment Fund; raise the annual ceiling on the Life Sciences Tax Incentive Program from $25 million to $30 million; require that funding and internship consideration be given to support minority populations in the life sciences industry; and extend the Life Sciences Tax Incentive Program through 2028. The incentive was due to expire at the end of 2018.