Bill > S179

This bill aims to prioritize underserved businesses across multiple state agencies by mandating a focus on socially or economically disadvantaged businesses that have historically struggled to access capital. Specifically, the legislation requires the secretary of economic development, various divisions within the executive office of economic development, and the Massachusetts office of business development to prioritize businesses owned by minorities, women, veterans, workers, and immigrants when awarding grants, loans, and other forms of financial assistance. The bill modifies several chapters of Massachusetts General Laws to ensure that whenever possible, these agencies shall give preference to microbusinesses and small businesses that have faced systemic barriers to obtaining financial support. By changing language from permissive (using words like "may") to mandatory (using words like "shall"), the bill strengthens the commitment to supporting underrepresented business owners and creating more equitable economic opportunities. This approach recognizes the ongoing challenges faced by certain business owners in accessing capital and seeks to provide more targeted support to help these entrepreneurs succeed.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/194/S179