SB 3805

Abstract

Amends the Department of Commerce and Economic Opportunity Law. Creates the Office of Economic Equity and Empowerment. Provides that the Office shall assist minority-owned businesses, women-owned businesses, veteran-owned businesses, businesses owned by persons with disabilities, and other underserved communities and constituencies through targeted programs, resources, and outreach and promotional activities. Provides that the Office may engage in or conduct promoting and conducting outreach efforts to ensure access to State and federal funding opportunities, and assisting minority-owned businesses, women-owned businesses, veteran-owned businesses, and businesses owned by persons with disabilities and other underserved communities and constituencies in applying for and receiving loan funds in the State. Provides that the Office may engage in other specified workshops, public forums, and other functions that assist minority-owned businesses, women-owned businesses, veteran-owned businesses, businesses owned by persons with disabilities, and other underserved communities and constituencies. Senate Floor Amendment No. 1 Provides that the Office of Economic Equity and Empowerment shall also assist not-for-profit corporations.