Bill > H365

This bill aims to promote capital investment in targeted employment areas (TEAs) in Massachusetts. The key provisions are: 1) The Secretary of the Executive Office of Housing and Economic Development can designate TEA districts, which are defined as areas with high unemployment rates as per federal regulations. 2) The Secretary must certify all TEA district designations, in accordance with federal requirements and based on the recommendation of the Secretary of the Executive Office of Labor and Workforce Development. The Secretary is required to prioritize certifying TEA districts located within "gateway municipalities" - economically distressed cities and towns. 3) The Secretary is authorized to establish a regional center, as defined in federal regulations, and charge administrative fees to fund the personnel and operating expenses of the regional center. The overall aim is to promote economic development and job creation in underserved areas of Massachusetts by attracting foreign investment through the federal EB-5 immigrant investor program.

Business and Industry

https://malegislature.gov/Bills/191/H365