HOUSE DOCKET, NO. 2901        FILED ON: 1/16/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3520

The Commonwealth of Massachusetts

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PRESENTED BY:

Carlos Gonzalez

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to state grants targeting minority communities.

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PETITION OF:

HOUSE DOCKET, NO. 2901        FILED ON: 1/16/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3520

The Commonwealth of Massachusetts

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In the One Hundred and Eighty-Ninth General Court
(2015-2016)

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An Act relative to state grants targeting minority communities.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. The General Court finds and declares that:

(1) the commonwealth should invest in minorities businesses based on diverse national or ethnic, cultural, religious and linguistic identity to protect their existence and flourish;

(2) the commonwealth has one of the highest wealth gaps in the country by race and ethnicity; and

(3) inadequate access to financial capital continues to limit the growth of minority-owned businesses;

SECTION 2. The commonwealth shall endeavor to participate in state grants each year that provide, in the aggregate total not less than 15 per cent of the total state grant committed by the commonwealth in that year, to minority communities and minority businesses whose board has more than 50 per cent of its members as minorities.