Just in time for the arrival of Veterans Day, the Healey Administration announced a new plan to significantly expand benefits for Massachusetts residents who served in the armed forces and study if psychedelics could be useful in their medical treatment.

During a press conference in Braintree on Thursday, Gov. Maura Healey announced the filing of An Act Honoring, Empowering and Recognizing Our Servicemembers and Veterans, or the HERO Act, which according to her administration is the first “comprehensive and expansive” veterans-centric piece of legislation introduced by a Bay State governor in two decades.

“Our veterans have sacrificed so much for our country, and this transformative legislation marks an important step toward ensuring that Massachusetts supports them in return,” Healey said. “From day one, our administration has been committed to revitalizing veterans’ services in Massachusetts and ensuring that every one of these heroes receives the benefits, resources and support that they deserve.”

The HERO act includes 17 different spending and policy initiatives covering benefits expansion, modernization of services, and commitments to “inclusivity and greater representation,” according to Healey’s office.

Among the provisions, Healey’s bill  would establish a working group to study the “health benefits of psychedelics as treatment for veterans suffering from physical or mental health disorders related to their service,” according to the governor’s office.

The act would also up the annuity provided to disabled Massachusetts veterans from $2,000 to $2,500, provide reimbursement for veterans receiving state services who seek behavioral health treatment, proposes a $2,500 tax credit for businesses who hire disabled or low-income veterans, and waives the RMV fee for veterans license plates.

It would also up the state employee service buyback plan from 180 days maximum to 10 years, allowing retroactive application for state workers who would benefit. The act would help protect veterans receiving state benefits — also known as Chapter 115 benefits — from losing those benefits when their federal benefits change.

The plan would expand who qualifies as a veteran to better align with the Department of Veterans Affairs’ definition, according to the governor’s office, and broaden who qualifies as a veteran’s dependent.

Healey’s announcement came along with the praise of more than half a dozen veterans organization, each of which thanked the governor for her commitment to the hundreds of thousands of veterans living in Massachusetts.

“The HERO Act goes a long way in helping veterans of all backgrounds, including reimbursing outpatient mental-health visits and giving veterans up to 10 years to buy back their active-duty service. As an Executive Director for an organization that serves military families of all backgrounds, and as a clinical social worker, I see firsthand how the resources enabled by the HERO act provide the crucial support our veterans and their families need to thrive,” Jeff Chin, of the New England chapter of Blue Star Families, said in a statement.