IL SB0076 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on January 23 2019 - 25% progression
Action: 2019-03-28 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Business Corporation Act of 1983. Requires a publicly held domestic or foreign corporation whose principal executive offices are located in Illinois to have: (i) no later than July 31, 2020, a minimum of one female director on its board; and (ii) no later than December 31, 2022, a minimum of 3 female directors if its number of directors is 6 or more, a minimum of 2 female directors if its number of directors is 5, or a minimum of one female director if its number of directors is 4 or fewer. Permits a corporation to increase the number of directors on its board to comply with the requirement. Requires the Secretary of State to publish reports on its Internet website that documents: (1) the number of domestic and foreign corporations whose principal executive offices are located in Illinois and who have at least one female director; and (2) the number of publicly held corporations that moved their United States headquarters to Illinois from another state or out of Illinois into another state during the preceding calendar year and other specified information. Permits the Secretary of State to adopt rules to administer the provisions and impose fines as specified. Provides that the provisions apply to a foreign corporation that is a publicly held corporation to the exclusion of the law of the jurisdiction in which the foreign corporation is incorporated. Effective immediately.

Tracking Information

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Title

BUS CORP-FEMALE DIRECTORS

Sponsors


History

DateChamberAction
2019-03-28SenateRule 3-9(a) / Re-referred to Assignments
2019-03-28SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2019-03-22SenateRule 2-10 Committee Deadline Established As March 28, 2019
2019-03-21SenatePostponed - Commerce and Economic Development
2019-03-21SenateSenate Committee Amendment No. 1 Postponed - Commerce and Economic Development
2019-03-14SenateSenate Committee Amendment No. 1 Assignments Refers to Commerce and Economic Development
2019-03-14SenatePostponed - Commerce and Economic Development
2019-03-13SenateSenate Committee Amendment No. 1 Referred to Assignments
2019-03-13SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
2019-03-05SenateAdded as Co-Sponsor Sen. Julie A. Morrison
2019-01-28SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
2019-01-23SenateAssigned to Commerce and Economic Development
2019-01-23SenateReferred to Assignments
2019-01-23SenateFirst Reading
2019-01-23SenateFiled with Secretary by Sen. Cristina Castro

Code Citations

ChapterArticleSectionCitation TypeStatute Text
80558.90New CodeSee Bill Text

Illinois State Sources


Bill Comments

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