Bill > S1050

This bill proposes to create reparations for the descendants of American slavery and pilot a universal basic income program. The key provisions include: 1. The Commonwealth of Massachusetts acknowledges and apologizes for its role in the institution of slavery and subsequent discriminatory practices against African Americans and Indigenous people, which have resulted in debilitating economic, educational, and health disparities. 2. An excise tax of 3% is imposed on the assets of specified applicable educational institutions (those with assets over $1.5 billion) to fund the Reparations for Descendants of American Slavery Fund. 3. The Reparations for Descendants of American Slavery Fund is established, and the monies from the excise tax will be used to provide monthly, direct monetary reparations to the descendants of African and Indigenous slaves, as well as other individuals at the discretion of the Reparations for Descendants of American Slavery Fund Board. 4. The Reparations for Descendants of American Slavery Fund Board is created, composed entirely of descendants of American slavery, to administer the fund and coordinate with state agencies to create processes for distributing the reparations and collecting data to inform efforts to establish a universal basic income program.

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https://malegislature.gov/Bills/193/S1050