Bill
H 3442
The act requires annual public reporting of procurement activity by large entities to show how diverse vendors participate in state contracting.
Note: The materials provided also include text of an unrelated South Carolina bill that would exclude central bank digital currency (CBDC) from the statutory definition of “money.” Below are separate, concise summaries of each item and an explanation of the apparent discrepancy.
Title: An Act relative to transparency and accountability in procurement
Primary sponsor: Representative Christopher J. Worrell (5th Suffolk). Members B. Newton and Pedalino subsequently added as sponsors. Referred to committees (Judiciary and State Administration & Regulatory Oversight); hearing scheduled 07/15/2025.
Purpose and intent
- To improve understanding of how inclusive the Commonwealth’s procurement is by requiring standardized collection and public reporting of state contracting activity with diverse businesses.
- Aligns with existing supplier diversity policy under chapter 7, sections 57–61 (establishment and mission of the Supplier Diversity Office, SDO).
Key provisions (from available text)
- Establishes the “Transparency and Accountability in Procurement Act.”
- Directs the Supplier Diversity Office (SDO) to promulgate regulations for annual collection and reporting of procurement activity as it relates to:
- “Certified business enterprises” (Minority Business Enterprises (MBE) and Women Business Enterprises (WBE), certified under section 61 of chapter 7);
- “Non-certified businesses” identified in the bill (including Black‑owned, Western Hemisphere Hispanic‑owned, and women‑owned businesses that are not certified).
- Defines covered entities for reporting thresholds: the bill limits the reporting universe to organizations with annual revenue of $100 million or more. Defined entity types with that threshold include:
- Businesses (corporations, partnerships, LLCs, etc.)
- Nonprofit corporations
- State authorities (with specific exclusions)
- Hospitals (licensed with an emergency department, and the UMass Medical School teaching hospital)
- Institutions of higher education
- Museums
- Provides statutory definitions for terms used in the bill (Business, MBE, WBE, Black-owned business, Women-owned business, SDO, etc.).
What is missing / truncated
- The provided text truncates Section 3 (the detailed regulatory and reporting requirements are incomplete). The specific data elements to be collected, reporting format, timelines, enforcement mechanisms, and any public disclosure requirements are not visible in the excerpt and should be reviewed in the full text.
Who would be affected
- The Commonwealth’s Supplier Diversity Office and executive-branch agencies that procure goods/services.
- Large businesses, nonprofits, hospitals, higher-education institutions, museums, and state authorities with annual revenue ≥ $100 million that contract with the Commonwealth.
- Certified MBEs and WBEs and non-certified diversity-classified businesses (Black-owned, Western Hemisphere Hispanic-owned, women-owned) — increased visibility in procurement reporting.
Procedural timeline / status
- Prefiled 12/05/2024; introduced 01/14/2025; sponsors added 01/28/2025; referred to committee(s) 02/27/2025; hearing scheduled 07/15/2025.
Recommendation
- Review the full Section 3 and any implementing regulations for precise reporting obligations, data fields, confidentiality provisions, and effective dates before assessing compliance impacts.
This text appears to be from a South Carolina bill (not MA H.3442) that would amend S.C. Code §36‑1‑201(b)(24) to state expressly that “money” does not include a central bank digital currency (CBDC).
Key elements
- Amends the statutory definition of “money” to exclude a CBDC.
- Defines “central bank digital currency” as a digital medium of exchange or unit of account issued by the U.S. Federal Reserve, a federal agency, a foreign government, foreign central bank, or foreign reserve system that is made directly available to a consumer and processed/validated directly by the issuing entity.
- Effective upon the governor’s approval.
Potential effects (high-level)
- If enacted in South Carolina, would affect statutory interpretations where “money” is a defined term (e.g., Uniform Commercial Code provisions, money-transmission regimes, consumer-protection and remittance statutes) by excluding CBDC from those protections/definitions unless separately addressed.
- Could influence state-level licensing, consumer disclosure, and regulatory treatment of CBDC-related products or services.
If you want, I can:
- Locate and summarize the full text of H.3442 (complete Section 3) and any subsequent amendments; or
- Prepare a side‑by‑side comparison of how the MA procurement reporting requirements would differ from current SDO reporting; or
- Draft a plain-language explainer of how excluding CBDC from the legal definition of “money” might affect payments and financial services at state level.
Compiled from official sources — confirm details with the bill’s official record.
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