Bill > S1814

This bill aims to promote corporate board diversity in Massachusetts. It establishes the Massachusetts Power Sharing Trust Fund, which will be funded by assessments from publicly-held corporations and certain state entities whose governing boards have fewer than 15% members of color (or fewer than 2 members of color for boards with fewer than 11 members). The funds collected will be transferred annually to the Commission on the Status of African Americans, the Commission on the Status of Latinos and Latinas, and the Commission on the Status of Citizens of Asian Descent, in proportion to the fraction of the state's non-white population that each commission represents. The Department of Revenue will also publish an annual report listing the contributing corporations and entities and the total fees collected.

Budget and Finance

https://malegislature.gov/Bills/192/S1814