An Act improving micro business and small business representation
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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 amends the governance of a state agency focused on supporting micro and small businesses. It establishes a new board of directors with specific expertise requirements, including representation from diverse communities, labor, banking, and small business ownership. The governor will appoint the board members, with a focus on ensuring diverse perspectives and experience within the small business sector.
Key provisions
- Creates a new board of directors to oversee the agency's operations.
- Requires board members to have specific experience in areas such as real estate development, credit, and small business financing.
- Mandates representation from diverse communities, organized labor, and community banks.
- Requires the governor to appoint 16 board members, including a microbusiness owner.
- Designates the Secretary of Economic Development as chairperson of the board.
- Establishes term lengths and appointment procedures for board members.
- Requires the governor to appoint two additional board members within 30 days of the bill's effective date, one with experience in supporting businesses owned by diverse communities and one who owns a microbusiness.
- Allows for the removal of board members for cause by the governor.
Who is affected
- Micro businesses
- Small businesses
- Massachusetts residents
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Joint Committee on Community Development and Small Businesses
Cosponsors
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