Bill Text: MI HR0076 | 2021-2022 | 101st Legislature | Introduced


Bill Title: A resolution to memorialize the Congress of the United States to enact legislation to require corporations to disclose their corporate leadership data.

Spectrum: Partisan Bill (Democrat 27-0)

Status: (Introduced - Dead) 2021-03-25 - Referred To Committee On Workforce, Trades, And Talent [HR0076 Detail]

Download: Michigan-2021-HR0076-Introduced.html

 

 

house Resolution No.76

Reps. Kuppa, Cavanagh, Clemente, Young, Pohutsky, O'Neal, Thanedar, Tyrone Carter, Hope, Brabec, Brenda Carter, Neeley, Weiss, Koleszar, Bolden, Garza, Scott, Ellison, Lasinski and Jones offered the following resolution:

A resolution to memorialize the Congress of the United States to enact legislation to require corporations to disclose their corporate leadership data.

Whereas, Equitable and diverse gender representation in leadership positions in Michigan is essential to enhance the competitive position of this state in the global economy; and

Whereas, Publicly held companies with women serving on their boards of directors are more competitive. Numerous independent studies have concluded that these companies have higher reported earnings per share, higher return on equity, stronger governance structures and transparency, improved stock performance, and higher net income growth; and

Whereas, The presence of women in the boardroom creates a more positive work environment for women. Studies have found that women serving on a corporate board can substantially change the dynamics of the boardroom, enhance the likelihood that women’s voices are heard, and reduce the perception of women as outsiders in positions of leadership; and

Whereas, Women are currently underrepresented on corporate boards of directors and other leadership positions in Michigan. Women comprise only 21 percent of directors and 19 percent of executive officers at Michigan public companies. Women comprise only 12 percent of named executive officers, with nearly 60 percent of Michigan public companies having none at all; and

Whereas, Women of color are even further underrepresented in corporate leadership spots. At Michigan public companies, they hold only 2 percent of board seats and 2 percent of executive officer and named executive officer positions; and

Whereas, Women continue to face significant barriers to reaching leadership positions throughout their careers. Studies show that women are less likely to receive the critical first promotion to manager, are less likely to be hired into more senior positions, and have less access to opportunities that accelerate their career. If women’s ascension to leadership positions continues at the current rate in Michigan, it will take another 34 years to reach equity with men; and

Whereas, Requiring corporations to publicly disclose leadership gender diversity data will lead to increased opportunities for women in the corporate arena. Requiring disclosures can impact how companies address gender diversity. It can also lead to external pressure from investors and the public to address the issue; now, therefore, be it

Resolved by the House of Representatives, That we memorialize the Congress of the United States to enact legislation to require corporations to disclose their corporate leadership data; and be it further

Resolved, That copies of this resolution be transmitted to the Speaker of the United States House of Representatives, the President of the United States Senate, and the members of the Michigan congressional delegation.

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