This paper is the third revision of the Academic Senate for California Community Colleges' (ASCCC) paper on equivalency adopted by the delegates to the plenary session in 1989. 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. Like the 2006 revision, this revision provides a more thorough discussion of equivalency than the original paper and the 1999 revision. It also includes the legal opinion from the General Counsel of the California Community Colleges Chancellor's Office distributed December 23, 2003, which upholds the prohibition on single-course equivalencies. In addition, it includes results of the Academic Senate's 2015 survey on equivalency practices in California community colleges. The concepts discussed in the first three equivalency papers remain substantively unchanged in this paper; however, this update includes practical suggestions and considerations inserted to help local senates in refining their policies and procedures regarding this important academic and professional matter. This paper concludes with recommendations for the determination of equivalencies, including who determines equivalency, that equivalency is granted for a discipline, that policies and procedures must be consistent, objective, evidence based, and mindful of general education and specialization, and that local governing boards include action on the equivalency as part of their subsequent hiring action. Following the recommendations, this paper provides a proposed equivalency model as well as a legal opinion stating that local districts are not authorized to establish a single course equivalency. [For the 2006 report, see ED510572.]