This bill directs the Department of Commerce to conduct an independent assessment that plans out how the state will capture emerging green industries and support minority- and women-owned firms. It also requires the state to appoint an industrial policy advisor to help it reach its carbon emissions and manufacturing goals. CPAC opposes central planning initiatives and opposed this bill. The Senate passed this bill on April 14, 2023 by a vote of 28-14 and the bill later became law.