This paper is the fourth revision of the Academic Senate for California Community Colleges (ASCCC) paper on equivalency adopted by the delegates to the plenary session in Fall 1989. Previous revisions were adopted in 1999, 2006, and 2016. The original paper was intended to help local academic senates develop policies and procedures in response to Education Code §87359, which requires that each district's governing board and academic senate jointly develop an equivalency policy. In 2019, the CTE Minimum Qualifications Workgroup released the "Career Technical Education Faculty Minimum Qualifications Toolkit," which furnishes specific tools for determining and documenting equivalency, particularly to specific general education areas. The toolkit reports that a survey, primarily of California community colleges CTE faculty, revealed that "the equivalency process is underused and varies greatly in application across districts and local campuses." This current update to the paper clarifies and reiterates not only that granting equivalency is legally permissible, but that all districts are required to have an equivalency process. This version of the paper has been updated to reflect the "Career Technical Education Faculty Minimum Qualifications Toolkit" and to promote the use of equivalency procedures as a means of broadening faculty applicant pools in order to support system-wide faculty diversification efforts. The new version casts the equivalency process as a critical component of hiring processes as they relate to equity, inclusion, and diversity by applying institutionally-focused, systemically aware, equity-advancing practices. The concepts discussed in the first four equivalency papers remain substantively unchanged in this paper; however, this update includes practical suggestions and considerations inserted to help local academic senates in refining their policies and procedures regarding this important academic and professional matter. [For the 2016 report, see ED613475.]