Massachusetts bonding authorities could receive additional oversight on borrowing if Gov. Deval Patrick signs legislation granting the state's Finance Advisory Board increased supervisory powers, an initiative that also includes extending its state appropriation pledge to $800 million of Massachusetts Turnpike Authority debt.

If the legislation becomes law, all state authorities and agencies that issue debt, including the MassPike, would be required to submit biannual reports detailing their borrowing practices to the FAB, a five-member committee within the state's Office of Administration and Finance. Treasurer Timothy Cahill sits on the panel along with four members appointed by the governor.

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