MA S736

Creates a Massachusetts Public Bank wholly owned by the commonwealth to hold public funds and provide affordable financing to municipalities, small businesses, nonprofits, cooperatives, affordable housing developers, and community development organizations

Requires $200 million in initial state equity investment ($50 million annually from FY2026-2029) and mandates the state treasurer maintain a minimum $1.4 billion average annual deposit balance funded from the Massachusetts Municipal Deposit Trust

Establishes a 9-member board of directors (including the state treasurer) appointed by the governor and treasurer, plus an 18-member advisory board representing stakeholders including labor, small business, environmental, and community development organizations

Prioritizes lending to underserved neighborhoods, minority- and women-owned enterprises, rural businesses, climate change mitigation projects, worker cooperatives, and sustainable agriculture operations

Guarantees all bank deposits and liabilities with the full faith and credit of the commonwealth, with oversight by the Commissioner of Banks through annual examinations