Economic Equity First Act of 2021

Economic Equity First Act of 2021 (AB 915)

On February 18, 2021, Assemblymember David Chiu introduced the Economic Equity First Act of 2021 (AB 915). The California Asian Pacific Chamber of Commerce worked closely with the Assemblymember's office to develop this legislation, which increases access to procurement opportunities for small, minority and women-owned, and disabled veteran-owned businesses. The CalAsian Chamber is joined by the California Hispanic Chambers of Commerce and the California African American Chamber of Commerce in co-sponsoring and supporting this landmark legislation.

BILL SUMMARY

AB 915 will require all state agencies, departments, boards, and commissions to achieve a minimum goal of 25% for minority, small business, and disabled veteran business participation in state procurement and contracts. This is based on a recognition that small businesses make up 99.8% of all California businesses and contribute significantly to the economy, accounting for 7 million employees across the State. Of California’s 4.1 million small businesses, 1.2 million, or 29%, are minority owned.

Press Release

Read the Full Bill (Coming Soon)

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Why this is needed:

Of the state’s 231 agencies, only 12 have adopted a small business or disabled veterans business enterprise policy
California collectively purchases between $8 billion to $10 billion in goods and services annually. A 25% were set aside for small businesses, it would be a crucial revenue stream

SF Chronicle: New bill would require California agencies to award 25% of state contracts to small business

Representatives from the CalAsian Chamber of Commerce, California Hispanic Chambers of Commerce, and the California African American Chamber of Commerce are available to answer questions and provide comment. If you’re interested in scheduling an interview, please contact Taylor Bickford at 907-227-9718 or taylorb@strategies360.com.

CALASIAN

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