SENATE DOCKET, NO. 2190        FILED ON: 2/19/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 268

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Eric P. Lesser

_________________

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 to provide startup capital for minority entrepreneurs.

_______________

PETITION OF:

 

Name:

District/Address:

 

Eric P. Lesser

First Hampden and Hampshire

 

Rebecca L. Rausch

Norfolk, Bristol and Middlesex

3/5/2021


SENATE DOCKET, NO. 2190        FILED ON: 2/19/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 268

By Mr. Lesser, a petition (accompanied by bill, Senate, No. 268) of Eric P. Lesser and Rebecca L. Rausch for legislation to provide startup capital for minority entrepreneurs.  Economic Development and Emerging Technologies.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Second General Court
(2021-2022)

_______________

 

An Act to provide startup capital for minority entrepreneurs.

 

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. Chapter 40G, as so appearing in the 2018 general laws, is amended by adding at the end thereof the following new section:-

Section 12. The Massachusetts Technology Development Corporation established in section 2 of chapter 40G of the General Laws, and doing business as MassVentures, shall establish a competitive grant program to invest in minority-owned or minority-led start-up companies in Massachusetts. The program will provide technical and financial support to said start-up companies and educate and enable said start-up companies to acquire access to additional capital.

SECTION 2. 7002-1501  For a competitive grant program administered by Massachusetts Technology Development Corporation established in section 2 of chapter 40G of the General Laws, and doing business as MassVentures, pursuant to section 12 of chapter 40G........................................... $10,000,000