Amendment #60 to H4400

Minority Owned Economy of Scale Business initiative

Representatives Williams of Springfield, González of Springfield, Tyler of Boston, Rushing of Boston, Tosado of Springfield, Carvalho of Boston, Vega of Holyoke and Moran of Lawrence move to amend the bill,  by  adding a new section, Section X:"Section 74-A- Provided , that notwithstanding  any  general  or special law to the contrary,  Chapter 204. Chapter 255-E and Chapter 255-F of the General Laws, and whatever other General Laws shall be required,  shall be amended for the  purpose  maximizing the intent  of this section, the Division of Banks and  Division of Professional Licensure  shall,  beginning  in  fiscal year 2019 and with a planned  completion  by  the  end  of fiscal year 2024: plan, develop and implement strategies to achieve 'A Minority Owned Economy of Scale Business Initiative' to maximized the participation of  minority owned  real estate and financial services  professions into the Commonwealth of Massachusetts  Real  Estate and Financial Services Market,  Among  the goals of such strategies shall be to realize:  fifteen (15) Mortgage Lender and  Mortgage Broker Licensees, eight (8) State Bank Charters, and ten (10) Insurance /Carrier License approvals.  To aide in carrying out the intention  of this section both, the Division of Banks and the Division of Professional Licensure are herein authorized  to establish and development  working relationships and/or coordination with the Region 1, National Association of Real  Estate Brokers (NAREB), or other Appropriately  qualified organization.".