Establishes a public bank of Massachusetts to support economic development.
The bill establishes a public bank of Massachusetts to support economic development by providing capital access to underbanked populations, industries, and local governments. The bank will focus on public benefits in areas such as climate, equity, health, clean water, and education. It will avoid commercial and investment banking activities, and will not support projects with histories of human rights abuse or malfeasance. The bank will be governed by a Board of Directors, with the Massachusetts State Treasurer serving as chair.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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