Bill Text: IL SB1501 | 2023-2024 | 103rd General Assembly | Introduced

---

Bill Title: Amends the General Not For Profit Corporation Act of 1986. Provides that in its annual report filed with the Secretary of State, a domestic or foreign corporation shall include the aggregated demographic information of its directors and officers, including race, ethnicity, gender, disability status, veteran status, sexual orientation, and gender identity. Provides that no later than 30 calendar days after filing the annual report with the Secretary of State, a corporation shall post to the corporation's publicly available website, if one exists, the aggregated demographic information of the corporation's directors and officers. Effective January 1, 2024.

Spectrum: Partisan Bill (Democrat 14-0)

Status: (Introduced) 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments [SB1501 Detail]

Download: Illinois-2023-SB1501-Introduced.html

---

103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB1501 Introduced 2/7/2023, by Sen. Adriane Johnson SYNOPSIS AS INTRODUCED:
805 ILCS 105/114.05 from Ch. 32, par. 114.05
805 ILCS 105/114.15 new
Amends the General Not For Profit Corporation Act of 1986. Provides that in its annual report filed with the Secretary of State, a domestic or foreign corporation shall include the aggregated demographic information of its directors and officers, including race, ethnicity, gender, disability status, veteran status, sexual orientation, and gender identity. Provides that no later than 30 calendar days after filing the annual report with the Secretary of State, a corporation shall post to the corporation's publicly available website, if one exists, the aggregated demographic information of the corporation's directors and officers. Effective January 1, 2024.
LRB103 28340 SPS 54719 b
A BILL FOR
SB1501 LRB103 28340 SPS 54719 b
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The General Not For Profit Corporation Act of
1986 is amended by changing Section 114.05 and by adding
Section 114.15 as follows:
(805 ILCS 105/114.05) (from Ch. 32, par. 114.05)
Sec. 114.05. Annual report of domestic or foreign
corporation. Each domestic corporation organized under this
Act, and each foreign corporation authorized to conduct
affairs in this State, shall file, within the time prescribed
by this Act, an annual report setting forth:
(a) The name of the corporation.
(b) The address, including street and number, or rural
route number, of its registered office in this State, and
the name of its registered agent at such address.
(c) The address, including street and number, or rural
route number, of its principal office.
(d) The names and respective addresses, including
street and number, or rural route number, of its directors
and officers.
(e) A brief statement of the character of the affairs
which the corporation is actually conducting from among

SB1501 - 2 - LRB103 28340 SPS 54719 b
the purposes authorized in Section 103.05 of this Act.
(f) Whether the corporation is a Condominium
Association as established under the Condominium Property
Act, a Cooperative Housing Corporation defined in Section
216 of the Internal Revenue Code of 1954 or a Homeowner
Association which administers a common-interest community
as defined in subsection (c) of Section 9-102 of the Code
of Civil Procedure.
(g) Such additional information as may be necessary or
appropriate in order to enable the Secretary of State to
administer this Act and to verify the proper amount of
fees payable by the corporation.
(h) The aggregated demographic information of the
corporation's directors and officers, including race,
ethnicity, gender, disability status, veteran status,
sexual orientation, and gender identity.
Such annual report shall be made on forms prescribed and
furnished by the Secretary of State, and the information
therein required by subsections (a) to (d), both inclusive,
and subsection (h) of this Section, shall be given as of the
date of the execution of the annual report. It shall be
executed by the corporation by any authorized officer and
verified by him or her, or, if the corporation is in the hands
of a receiver or trustee, it shall be executed on behalf of the
corporation and verified by such receiver or trustee.
(Source: P.A. 101-578, eff. 8-26-19.)

SB1501 - 3 - LRB103 28340 SPS 54719 b
(805 ILCS 105/114.15 new)
Sec. 114.15. Posting demographic information. No later
than 30 calendar days after filing the annual report with the
Secretary of State, a corporation shall post to the
corporation's publicly available website, if one exists, the
aggregated demographic information of the corporation's
directors and officers as described in subsection (h) of
Section 114.05. The aggregated demographic information shall
be accessible on the corporation's publicly available website
for at least 5 years after it is posted. A corporation that
posts the full annual report on its website fulfills this
posting requirement.
Section 99. Effective date. This Act takes effect January
1, 2024.