Community wealth building action plan 15 5 Community wealth building action plan (1) Each local authority, working jointly with the relevant public bodies relating to it, must prepare a community wealth building action plan for the area of the local authority in question within the period of 3 years beginning with the day on which this section comes into force. 20 (2) Each local authority must publish the community wealth building action plan prepared in accordance with subsection (1) as soon as reasonably practicable following its preparation. (2A) The Scottish Ministers may by regulations specify further details about the format of the plan to be published under subsection (2) or the revised plan to be published under 25 section 7(3). (2B) Regulations under subsection (2A) are subject to the affirmative procedure. (3) In relation to the functions conferred on them by this Act— (a) a local authority and the relevant public bodies relating to it are collectively referred to in this Act as a “community wealth building partnership”, 30 (b) a local authority and each relevant public body relating to it are individually referred to in this Act as a “community wealth building partner”. (4) A community wealth building action plan must set out the measures the community wealth building partnership is taking, or intends to take, to facilitate and support the generation, circulation and retention of wealth in the local economy. 35 (5) The measures referred to in subsection (4) may include— (a) using public procurement and commissioning to facilitate or support such generation, circulation and retention, (b) supporting local economic operators to access public sector contracts, (c) promoting— 40 (i) employment opportunity, (ii) workforce development, 5 Community Wealth Building (Scotland) Bill (iii) equality in the workplace, (d) diversifying ownership of land, energy or other assets by facilitating or supporting community ownership, (da) utilising common good property to provide financial, social or environmental 5 benefit to the community, including the transfer of ownership to community organisations, (e) bringing vacant and derelict land back into use in a way that provides financial, social or environmental benefit to the community, (f) encouraging local business start-ups or entrepreneurship, 10 (g) promoting or supporting the development of— 1 (i) employee-owned businesses, (ii) co-operatives, including co-operative financial institutions, (iii) social enterprises, (iv) supported businesses, as defined by section 11(3) of the Procurement Reform 15 (Scotland) Act 2014, (ga) promoting access to investment opportunities that provide a benefit to the community and to local businesses, (gb) measures to support local climate resilience and mitigation of the effects of climate change, 20 (h) such other measures as the community wealth building partnership considers appropriate. (5A) A community wealth building action plan must set an indicative target for the percentage of the total expenditure incurred pursuant to public contracts entered into by the community wealth building partners which is to go to local economic operators. 25 (5AA) A community wealth building action plan— (a) must set out indicators by reference to which the community wealth building partnership intends to assess progress made in relation to the implementation of the measures set out in the action plan, (b) may set targets in relation to the implementation of the measures set out in the 30 action plan. (5AB) The indicators mentioned in subsection (5AA)(a) may include— (a) the performance of businesses, including— (i) the number of new businesses established, (ii) the total number of businesses, 35 (iii) the total business output, (b) employment outcomes, including— (i) average wage, (ii) availability of skills development programmes, (c) the diversity of ownership models, including the number of businesses that are— 40 (i) employee-owned, (ii) co-operatives, 6 Community Wealth Building (Scotland) Bill (d) the variety of land use, including— (i) use of the community right to buy...