An Act to promote inclusive entrepreneurship and economic justice

This bill requires state agencies to report how much economic funding, such as loans and grants, goes to minority-owned businesses. It also mandates that major hospitals and universities with significant operating expenses submit annual reports detailing their efforts to purchase goods and services from these certified minority-owned businesses. Additionally, the bill directs the state to create a comprehensive economic development plan that specifically addresses racial and ethnic disparities in employment and business ownership. These changes aim to increase transparency and ensure that public funds and institutional purchasing power support diverse entrepreneurs across Massachusetts.