Amendment #1489 to H4700

Small Business Technical Assistance (SBTA)

Mr. Mark of Peru moves to amend the bill in section 2, in item 7002-0040 by inserting after “employee stock ownership plans;”  the following: “provided further that not less than $500,000 be appropriated to the Small Business Technical Assistance (SBTA) program administered by the Massachusetts Growth Capital Corporation (MGCC).  Such funds shall be used within the SBTA program in a pilot initiative for technical assistance providers to provide assistance to new start-up entities organizing as worker owned cooperatives under MGL Ch. 157(a) or as businesses cooperatively owned and governed by their employees, or to traditional businesses converting to worker owned cooperatives under MGL Ch. 157(a) or businesses cooperatively owned and governed by their employees.  Eligibility criteria shall be defined by the Massachusetts Growth Capital Corporation, or the grant-making entity otherwise designated.  The funding shall be used for (1) training new worker-owners in best practices for successful start-up of their cooperative or democratic workplace, and (2) training existing worker-owners in essential skills needed to maintain their business enterprise.  This pilot initiative shall be developed over a duration of two years, and may be extended by MGCC under its regular SBTA programming via fiscal year budget line items upon its determination that the pilot initiative has been successfully implemented.”; and in said item by striking out the figures “$30,000,000” and inserting in place thereof the figures “$30,500,000”.

Additional co-sponsor(s) added to Amendment #1489 to H4700

Small Business Technical Assistance (SBTA)