SECTION 1. Chapter 10, as appearing in the 2020 Official Edition, is hereby amended by inserting after section 78 the following section:-

Section 79. (a) There shall be within the office of the state treasurer an office of economic empowerment. The office of economic empowerment shall perform such functions as the treasurer may determine in relation to the provision of equitable access to opportunities and resources through equity-centered programs, policies, and partnerships to promote economic mobility and financial independence to residents across the commonwealth. 

(b) The office shall be under the supervision and control of the executive director. The executive director shall be the executive and administrative head of the office and shall be responsible for administering and enforcing the laws and regulations relative to the office and to any administrative unit of the office thereof. The duties given to the executive director in this act shall be exercised and discharged subject to the direction, control, and supervision of the state treasurer. 

(c) The executive director may, subject to appropriation, appoint and remove such employees as they deem necessary to perform the duties of their office, and may determine their salaries and duties; provided, however, that the total amount of all such salaries shall not exceed the sum appropriated by the general court.