Establishes a downtown vitality fund to support local business districts and main streets.

The bill establishes a downtown vitality fund to strengthen local business districts and main streets. The fund will be financed by 0.75% of regular sales tax receipts. The Executive Office of Housing and Economic Development will manage the fund, which will provide grants for district management entities, operating grants, technical assistance, and multi-year grants for communities in the Transformative Development Initiative program. The fund will also support local economic development plans and small business plans. The Massachusetts Downtown Initiative will administer the fund.

Establishes a downtown vitality fund to support local business districts and main streets.

The bill establishes a downtown vitality fund to strengthen local business districts and main streets. The fund will be financed by 0.75% of regular sales tax receipts. The Executive Office of Housing and Economic Development will manage the fund, which will provide grants for district management entities, operating grants, technical assistance, and multi-year grants for communities in the Transformative Development Initiative program. The fund will also support local economic development plans and small business plans. The Massachusetts Downtown Initiative will administer the fund.