Bill > H3038

This bill establishes a Downtown Vitality Fund designed to strengthen local business districts and main streets by allocating 0.75% of the state's regular sales tax revenue. The fund will be administered by the Executive Office of Housing and Economic Development and will provide grants for various purposes, including establishing and supporting district management entities in commercial areas, offering technical assistance, and supporting economic development initiatives. The fund prioritizes support for small business districts in Gateway Cities and economically disadvantaged areas, aims to expand entrepreneurship opportunities for underrepresented communities, and seeks to strengthen cultural identity while preventing cultural displacement. A new Downtown Vitality Advisory Board, consisting of at least 15 members representing various stakeholders such as MassDevelopment, the Massachusetts Cultural Council, business improvement districts, cultural districts, municipal representatives, and small business leaders from diverse backgrounds, will provide guidance on grant requirements, selection criteria, and potential legislative improvements. The agency will be required to file annual reports detailing the grants dispersed, and the board will serve in an advisory capacity without compensation, with members appointed for terms of up to three years.

Budget and Finance

https://malegislature.gov/Bills/194/H3038