The Senate passed a four-year, $1.7 billion Environmental Bond Bill that will benefit the state and the town of Milton.

The bill contains several initiatives by Senator Brian A. Joyce. These include:

• $7.5 million for the creation of a new Neponset River park and canoe launch near Truman Parkway in Milton
• $10 million for design, signalization, safety improvements, sidewalks and aesthetic improvements on Brush Hill Road and Truman Parkway

• $2.5 million for improvements and repairs at the Trailside Museum
• $1.25 million for improvements to the Blue Hills Ski Area
• $2.5 million for the preservation and restoration of the Blue Hills Observatory
• At least $1 million for aesthetic, pedestrian and vehicular traffic improvements at the intersection of Neponset Valley Parkway and Brush Hill Road
• $1 million for landscape and aesthetic improvements along the Neponset River Greenway
• Funds to create a signature park at John L. Kelly Field.

“The environmental bond bill offers us an opportunity to continue our state’s leadership in energy efficiency, to promote clean and alternative forms of energy and, by funding a water innovation trust fund, to allow us to partner with our fine universities and the private sector to develop leading edge clean water technology that will create jobs,” said Joyce.

Massachusetts is the first in the nation to offer Green Bonds. These bonds have attracted bids from 154 retail investors. The program, administered by the Treasury, goes toward clean drinking water projects, energy efficiency and conservation in state buildings, river revitalization and habitat restoration projects, and more.

In addition, support for a water infrastructure innovation trust fund outlined in the bill will help foster new innovation and drive economic development and job growth in Massachusetts water industry. Massachusetts is home to nearly 300 water industry companies, organizations and institutions that create local jobs in a global market estimated to generate nearly $4 billion in annual revenues.

All spending authorizations will need to be included in the final version of the bill and then approved and released by the administration in the future.

The Senate Committee on Bonding, chaired by Joyce, again reduced the terms of the bonds which will save taxpayers millions of dollars. This year, the Senate’s reduction of bond terms authored by Joyce over the multiple bills before the Legislature will save Massachusetts taxpayers over one billion dollars.