An Act establishing the micro business fund
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates a new fund called the Micro Business Fund. The fund’s purpose is to provide financial assistance to small businesses, particularly those that may not qualify for traditional loans. It aims to support entrepreneurship and economic growth within Massachusetts by offering grants or other financial resources to micro businesses. The fund will be managed by the state’s Revenue Department.
Key provisions
- Establishes the Micro Business Fund.
- Designates the Revenue Department as the managing agency.
- The fund will provide financial assistance to micro businesses.
- Specific eligibility criteria for micro businesses will be determined.
- The bill outlines the process for applying for and receiving funds from the Micro Business Fund.
Who is affected
- Micro businesses
- Small business owners
- Massachusetts entrepreneurs
- The Revenue Department
- Economic development sector
Bill text
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Sponsors
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3 on record
Primary sponsor
Cosponsors
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