SECTION 1. Section 20 of Chapter 268A of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting at the end thereof the following:-

"This section shall not prohibit an employee of a regional public educational agency such as an educational collaborative as authorized under Section 4E of Chapter 40 of the General Laws, or an educational collaborative’s member school districts, from having a direct or indirect financial interest in a contract or agreement made by the educational collaborative to provide educational and related services to such collaborative, or the member school districts of the same, provided that the employee provides a written disclosure of these contracts to both agencies with whom the employee is contracting.

The proposed arrangement must be approved by the employee's appointing authority and before the employee provides educational services.

For purposes of this section, educational services shall mean any service related to the education of students, youth, and families or to the professional development and training of educators, administrators, and paraprofessionals, and community-based personnel working on behalf of public education that is provided by a public agency of a single or multiple municipalities.”