The budget document shall include: (1) The recommendations of the Governor concerning the economy, including, but not limited to, an analysis of the impact of both proposed spending and proposed revenue programs on the employment, production and purchasing power of the people and industries within the state; and (2) an explanation of the manner in which provisions of the budget further the Governor’s efforts to ensure equity in the state. For purposes of this section, “equity” means efforts, regulations, policies, programs, standards, processes and any other functions of government or principles of law and governance intended to: (A) Identify and remedy past and present patterns of discrimination or inequality against and disparities in outcome for any class protected in chapter 814c; (B) ensure that such patterns of discrimination, inequality and disparities in outcome, whether intentional or unintentional, are neither reinforced nor perpetuated; and (C) prevent the emergence and persistence of foreseeable future patterns of discrimination against or disparities in outcome for any class protected in chapter 814c.