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| 2 | 2 | | SENATE DOCKET, NO. 479 FILED ON: 1/16/2023 |
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| 3 | 3 | | SENATE . . . . . . . . . . . . . . No. 237 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Patrick M. O'Connor |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act to invest in Massachusetts citizens. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :Patrick M. O'ConnorFirst Plymouth and Norfolk 1 of 2 |
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| 16 | 16 | | SENATE DOCKET, NO. 479 FILED ON: 1/16/2023 |
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| 17 | 17 | | SENATE . . . . . . . . . . . . . . No. 237 |
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| 18 | 18 | | By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 237) of Patrick M. O'Connor for |
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| 19 | 19 | | legislation to invest in Massachusetts citizens. Economic Development and Emerging |
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| 20 | 20 | | Technologies. |
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| 21 | 21 | | [SIMILAR MATTER FILED IN PREVIOUS SESSION |
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| 22 | 22 | | SEE SENATE, NO. 277 OF 2021-2022.] |
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| 23 | 23 | | The Commonwealth of Massachusetts |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | In the One Hundred and Ninety-Third General Court |
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| 26 | 26 | | (2023-2024) |
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| 27 | 27 | | _______________ |
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| 28 | 28 | | An Act to invest in Massachusetts citizens. |
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| 29 | 29 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 30 | 30 | | of the same, as follows: |
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| 31 | 31 | | 1 The Commonwealth, through the Executive Office of Housing and Economic |
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| 32 | 32 | | 2Development, shall institute a pilot program to offer a competitive grant program for startup |
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| 33 | 33 | | 3companies owned by Massachusetts residents and business owners. For the purposes of this |
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| 34 | 34 | | 4section, “startup company” shall be defined as a newly emerged business venture that aims to |
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| 35 | 35 | | 5develop a viable business model to meet a marketplace need. The pilot program shall aim to |
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| 36 | 36 | | 6provide ten grants totaling $500,000 to eligible startup companies who apply for the grant. The |
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| 37 | 37 | | 7Executive Office of Housing Economic Development shall promulgate parameters of eligibility |
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| 38 | 38 | | 8and guidelines for application to the grant program, provided that the program be open for |
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| 39 | 39 | | 9application no later than December 1, 2024, and the funding be awarded to selected winners no |
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| 40 | 40 | | 10later than July 1, 2025. The Executive Office of Housing an Economic Development shall submit 2 of 2 |
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| 41 | 41 | | 11a report to the Clerks of the House and Senate detailing the progress of the pilot program as well |
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| 42 | 42 | | 12as the economic consequences of the grants on the recipient startup companies no later than July |
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| 43 | 43 | | 131, 2026. |
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