The "Racial Impact Assessment Act" proposes the establishment of a new legislative tool called a racial impact assessment, which will assess the potential impact of legislation on historically disadvantaged racial populations. It establishes a committee to oversee the racial impact statement reports and requires that these statements be made available to the public when bills are posted for hearings in committees. The bill also requires annual reports on the use and effectiveness of racial impact statements.

This bill adds a new chapter to the General Laws, which includes provisions that define key terms, outline the parameters for requesting and preparing racial impact statements, and require annual reports on their use and effectiveness. The bill will take effect upon passage.