MUST SHOW DIVERSITY FOR TAX CREDITS

By Bob Katzen

Sen. Nick Collins (D-Boston) told Beacon Hill Roll Call he intends in 2021 to refile his bill that would require any person, group or business applying for any tax credits from the state to submit a plan for diversity and inclusion, including representation of women, veterans, and persons of color in their ownership, financing, development, administration and contracting. The plan would be submitted to the Supplier Diversity Office and the Office of Access and Opportunity and must be considered in determining eligibility if the tax credits are given.

“This bill is an important step toward helping promote economic justice in the commonwealth and usher in an equitable economic recovery,” Collins told Beacon Hill Roll Call. “We are committed to these principles and plan to refile this bill or something similar next session.”

Collins explains that the state allocates hundreds of millions of dollars in commercial tax credits annually to attract new business, create local jobs and grow our economy. “While I fully support those efforts, my understanding is that there is no formal requirement for businesses receiving those tax credits to meet certain minimum standards of civil rights, employee rights or discrimination. This [bill] will ensure that those tax subsidies are reaching every community in the commonwealth, rather than simply increasing profitability for well-financed businesses who often come from out of state. I firmly believe that Massachusetts tax credits should benefit all residents … regardless of background, race, gender, creed or color.”

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