California is top of the table when it comes to progressivism and diversity, equity, and inclusion (DEI) initiatives. But let’s give Maryland some credit (or blame) for trying to out-woke the Golden State. Three years ago, California governor Gavin Newsom signed into law AB 979, which required public companies headquartered in California to have at least one board director who is LGBT or from a minority community. In 2021, Maryland imposed its own DEI mandates on firms, which cast a much wider net than even California legislators were comfortable doing.
Maryland’s corporate diversity legislation, HB 1210, requires businesses in the state to demonstrate diversity in their board or executive leadership or support for “underrepresented communities” in their mission to qualify for state grants, tax credits, or contracts worth more than $1 million. While only an estimated 700 public companies in California had to comply with AB 979, as many as 430,000 Maryland businesses may have to comply with HB 1210’s reporting requirements or risk forfeiture of their company charters. Though the law went into effect last July, the state just sent out the first required reporting documents on February 8. They are due April 15.
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