An Act relative to the development of the Massachusetts office of micro and minority-owned businesses

This bill establishes a new Micro and Minority Business Strategy Department within the Massachusetts Executive Office of Housing and Economic Development to specifically support small and minority-owned enterprises. The department will be funded using 50% of the annual community empowerment reinvestment grant program and will develop a unique economic strategy for gateway communities. A nine-member board will oversee the department, with six members appointed by the governor to represent micro business owners, minority business owners, and residents of gateway communities. The legislation defines micro-businesses as entities with 10 or fewer employees and annual gross income under $250,000, while minority-owned businesses are those beneficially owned by minority individuals.