HB 1210: Maryland Requires Corporate Diversity for State Benefits Over $1 Million
Summary
HB 1210 was enacted in May 2021 and requires certain business entities to either demonstrate membership of underrepresented communities in its board or executive leadership or demonstrate support for underrepresented communities in its mission in order to qualify for a “state benefit” greater than or equal to $1 million. The law further requires businesses to file a state equity report containing diversity data developed by the Department of Commerce and the Governor's Office of Small, Minority, and Women Business Affairs.
The law defines "underrepresented community" as "a community whose members self-identify as Black, African American, Hispanic, Latino, Asian, pacific islander, native American, native Hawaiian, or Alaska Native." The law exempts privately held companies with at least 75% shareholders as family members or entities with annual operating budgets or sales less than $5 million.
Impacted Sectors
Additional Information
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