SB393 requires the Major Employment and Investment (MEI) Project Approval Commission to consider a business’ commitment to board diversity before approving major employment and investment projects. Companies must have at least 30% of their board composed of women and historically “underrepresented” groups and must submit and update annual diversity disclosures.
The Virginia State Senate passed SB393 on March 8, 2024 by a vote of 21 to 19. We have assigned pluses to the nays because this bill imposes government-mandated diversity quotas on private businesses, forcing them to prioritize identity over merit—an actual racist practice. It advances the Marxist DEI agenda, a tool used to erode free-market principles and individual liberties through bureaucratic control. The Declaration of Independence affirms that “all men are created equal” and are endowed with “certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” This bill directly violates that principle.