SECTION 1. Chapter 23A of the General Laws, is hereby amended by adding the following section:-

Section 70: Establishing Microbusiness and Small Business Banking Access Working Group

Section 70. (a) There shall be a microbusiness and small business banking access advisory board, hereinafter referred to as the advisory board, to identify opportunities to improve access to banking for microbusinesses and small businesses, including but not limited to socially and economically disadvantaged enterprises and businesses and nonprofit organizations that partner with or receive assistance from the executive office of economic development or the Massachusetts development finance agency

(b)  The advisory board shall consist of: the secretary of economic development or their designee, who shall serve as chair; the executive director of the Massachusetts development finance agency or their designee who shall serve as vice chair; the commissioner of banks or their designee; the house and senate chairs of the joint committee on community development and small business or their designees; the house and senate chairs of the joint committee on financial services of their designees; the chair and vice chair of the black and latino legislative caucus; the house and senate chairs of the caucus of women legislators; 1 member of the house who shall be appointed by the minority leader; 1 member of the senate who shall be appointed by the minority leader; the executive director of the commission on the status of women established under section 66 of chapter 3 of the General Laws; the executive director of Coalition for an Equitable Economy of their designee; the executive director of the Black Economic Council of Massachusetts or their designee; the executive director of the Massachusetts Association of Community Development Corporations or their designee; 1 person appointed by the governor who shall own a small business and have experience or expertise related to reducing gender, racial and economic disparities in economic development; 1 person appointed by the governor who shall own a microbusiness business and have experience or expertise related to reducing gender, racial and economic disparities in economic development; 1 person appointed by the governor who should currently serve as executive director of a community development corporation; 1 person appointed by the governor who should currently serve as executive director of a community development financial institutions; 1 person appointed by the governor with experience or expertise in nonprofit or other nontraditional lending; 1 person appointed by the treasurer with experience or expertise leading the massachusetts small business banking partnership; 1 person appointed by the treasurer with experience or expertise leading a business support organization; and 1 person to be appointed by the commission on the status of women.

(c)  The advisory board shall: (i) review and evaluate state and federal programs and regulations related commercial banking access for microbusinesses and small businesses, including but not limited to those that connect underserved small businesses with banking access through business support organizations; (ii) analyze laws, regulations, and programs in other states that encourage banking access for microbusinesses and small businesses, particularly socially or economically disadvantaged enterprises, including data by race and other relevant demographics; (iii) examine opportunities available within existing programs offered by the executive office of economic development and the massachusetts development finance agency to encourage recipients of capital or technical assistance to make connections with banks and other financial institutions through business support organizations and state agencies; and (iv) recommend policies to the executive office of economic development, the massachusetts development finance agency, and the legislature to further encourage access to banking by underserved microbusinesses and small businesses.

(d)  The commission shall submit its report together with recommendations, if any, to the clerks of the house of representatives and the senate not later than June 1, 2026.

SECTION 2. Chapter 23A of the General Laws, is hereby amended by adding the following section:-

Section 71: Establishing Microbusiness and Small Business Commercial Insurance Special Legislative Commission

Section 71. (a) There shall be a special legislative commission pursuant to section 2A of chapter 4 of the General Laws to identify opportunities to improve access to commercial insurance for microbusinesses and small businesses, including but not limited to socially and economically disadvantaged enterprises and businesses and nonprofit organizations that partner with or receive assistance from the executive office of economic development or the massachusetts development finance agency.

(b)  The special legislative commission shall consist of: the house and senate chairs of the joint committee on community development and small business, who shall serve as co-chairs; the house and senate chairs of the joint committee on financial services; the chair and vice chair of the massachusetts caucus of black and latino legislators; the house and senate chairs of the caucus of women legislators; 1 member of the house who shall be appointed by the minority leader; 1 member of the senate who shall be appointed by the minority leader; the secretary of economic development or their designee; the executive director of the massachusetts development finance agency or their designee; the commissioner of insurance or their designee; the commissioner of banks or their designee; the executive director of the commission on the status of women established under section 66 of chapter 3 of the General Laws; the executive director of Coalition for an Equitable Economy of their designee; the executive director of the Black Economic Council of Massachusetts or their designee; the executive director of the Massachusetts Association of Community Development Corporations or their designee; 1 person appointed by the governor who shall own a small business and have experience or expertise related to reducing gender, racial and economic disparities in economic development; 1 person appointed by the governor who shall own a microbusiness business and have experience or expertise related to reducing gender, racial and economic disparities in economic development; 1 person appointed by the governor who should currently serve as executive director of a community development corporation; 1 person appointed by the governor who should currently serve as executive director of a community development financial institutions; 1 person appointed by the governor with experience or expertise in nonprofit or other nontraditional lending; 1 person appointed by the treasurer with experience or expertise leading the massachusetts small business banking partnership; 1 person appointed by the treasurer with experience or expertise leading a business support organization; and 1 person to be appointed by the commission on the status of women.

(c)  The special legislative commission shall: (i) review and evaluate state and federal programs and regulations related commercial insurance access for microbusinesses and small businesses; (ii) analyze laws, regulations, and programs in other states that encourage commercial insurance access for microbusinesses and small businesses, particularly socially or economically disadvantaged enterprises, including data by race and other relevant demographics; (iii) examine opportunities available within existing programs offered by the executive office of economic development and the massachusetts development finance agency to encourage recipients of capital or technical assistance to make connections with commercial insurance through business support organizations and state agencies; and (iv) recommend policies to the executive office of economic development, the massachusetts development finance agency, and the legislature, to further encourage access to commercial insurance by underserved microbusinesses and small businesses.

(d)  The commission shall submit its report together with recommendations for legislation, if any, to the clerks of the house of representatives and the senate not later than June 1, 2026.