IL
Illinois House Bill HB3720

Illinois 2023-2024 Regular Session

Illinois House Bill HB3720 Compare Versions

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1+103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3720 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED: 30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12 Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Commission on Equity and Inclusion shall establish goals based on the types of communities served by businesses. Requires corporations that are publicly held domestic or foreign corporation with their principal executive office located in Illinois to provide in their annual report the percentage of professional services procurements from business enterprises owned by minority persons, women, or persons with disabilities as those terms are defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Secretary of State shall establish a publicly accessible and searchable database of the information in each annual report. LRB103 29497 DTM 55892 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3720 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED: 30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12 30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12 Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Commission on Equity and Inclusion shall establish goals based on the types of communities served by businesses. Requires corporations that are publicly held domestic or foreign corporation with their principal executive office located in Illinois to provide in their annual report the percentage of professional services procurements from business enterprises owned by minority persons, women, or persons with disabilities as those terms are defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Secretary of State shall establish a publicly accessible and searchable database of the information in each annual report. LRB103 29497 DTM 55892 b LRB103 29497 DTM 55892 b A BILL FOR
2+103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3720 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
3+30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12 30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12
4+30 ILCS 575/4 from Ch. 127, par. 132.604
5+805 ILCS 5/8.12
6+Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Commission on Equity and Inclusion shall establish goals based on the types of communities served by businesses. Requires corporations that are publicly held domestic or foreign corporation with their principal executive office located in Illinois to provide in their annual report the percentage of professional services procurements from business enterprises owned by minority persons, women, or persons with disabilities as those terms are defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Secretary of State shall establish a publicly accessible and searchable database of the information in each annual report.
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312 1 AN ACT concerning State government.
413 2 Be it enacted by the People of the State of Illinois,
514 3 represented in the General Assembly:
6-4 Section 5. The Business Corporation Act of 1983 is amended
7-5 by changing Section 8.12 as follows:
8-6 (805 ILCS 5/8.12)
9-7 Sec. 8.12. Female, minority, and LGBTQ directors.
10-8 (a) Findings and purpose. The General Assembly finds that
11-9 women, minorities, and LGBTQ people are still largely
12-10 underrepresented nationally in positions of corporate
13-11 authority, such as serving as a director on a corporation's
14-12 board of directors. This low representation could be
15-13 contributing to the disparity seen in wages made by females
16-14 and minorities versus their white male counterparts. Increased
17-15 representation of these individuals as directors on boards of
18-16 directors for corporations may boost the Illinois economy,
19-17 improve opportunities for women, minorities, and LGBTQ people
20-18 in the workplace, and foster an environment in Illinois where
21-19 the business community is representative of our residents.
22-20 Therefore, it is the intent of the General Assembly to gather
23-21 more data and study this issue within the State so that
24-22 effective policy changes may be implemented to eliminate this
25-23 disparity.
15+4 Section 5. The Business Enterprise for Minorities, Women,
16+5 and Persons with Disabilities Act is amended by changing
17+6 Section 4 as follows:
18+7 (30 ILCS 575/4) (from Ch. 127, par. 132.604)
19+8 (Section scheduled to be repealed on June 30, 2024)
20+9 Sec. 4. Award of State contracts.
21+10 (a) Except as provided in subsection (b), not less than
22+11 30% of the total dollar amount of State contracts, as defined
23+12 by the Secretary of the Council and approved by the Council,
24+13 shall be established as an aspirational goal to be awarded to
25+14 businesses owned by minorities, women, and persons with
26+15 disabilities; provided, however, that of the total amount of
27+16 all State contracts awarded to businesses owned by minorities,
28+17 women, and persons with disabilities pursuant to this Section,
29+18 contracts representing at least 16% shall be awarded to
30+19 businesses owned by minorities, contracts representing at
31+20 least 10% shall be awarded to women-owned businesses, and
32+21 contracts representing at least 4% shall be awarded to
33+22 businesses owned by persons with disabilities.
34+23 (a-5) In addition to the aspirational goals in awarding
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34-1 (b) As used in this Section:
35-2 "Annual report" means the report submitted annually to the
36-3 Secretary of State pursuant to this Act.
37-4 "Female" means a person who is a citizen or lawful
38-5 permanent resident of the United States and who
39-6 self-identifies as a woman, without regard to the individual's
40-7 designated sex at birth.
41-8 "Minority person" means a person who is a citizen or
42-9 lawful permanent resident of the United States and who is any
43-10 of the following races or ethnicities:
44-11 (1) American Indian or Alaska Native (a person having
45-12 origins in any of the original peoples of North and South
46-13 America, including Central America, and who maintains
47-14 tribal affiliation or community attachment).
48-15 (2) Asian (a person having origins in any of the
49-16 original peoples of the Far East, Southeast Asia, or the
50-17 Indian subcontinent, including, but not limited to,
51-18 Cambodia, China, India, Japan, Korea, Malaysia, Pakistan,
52-19 the Philippine Islands, Thailand, and Vietnam).
53-20 (3) Black or African American (a person having origins
54-21 in any of the black racial groups of Africa). Terms such as
55-22 "Haitian" or "Negro" can be used in addition to "Black" or
56-23 "African American".
57-24 (4) Hispanic or Latino (a person of Cuban, Mexican,
58-25 Puerto Rican, South or Central American, or other Spanish
59-26 culture or origin, regardless of race).
38+103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3720 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
39+30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12 30 ILCS 575/4 from Ch. 127, par. 132.604 805 ILCS 5/8.12
40+30 ILCS 575/4 from Ch. 127, par. 132.604
41+805 ILCS 5/8.12
42+Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Commission on Equity and Inclusion shall establish goals based on the types of communities served by businesses. Requires corporations that are publicly held domestic or foreign corporation with their principal executive office located in Illinois to provide in their annual report the percentage of professional services procurements from business enterprises owned by minority persons, women, or persons with disabilities as those terms are defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that the Secretary of State shall establish a publicly accessible and searchable database of the information in each annual report.
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70-1 (5) Native Hawaiian or Other Pacific Islander (a
71-2 person having origins in any of the original peoples of
72-3 Hawaii, Guam, Samoa, or other Pacific Islands).
73-4 (6) "Publicly held domestic or foreign corporation"
74-5 means a corporation with outstanding shares listed on a
75-6 major United States stock exchange.
76-7 (c) Reporting to the Secretary of State. As soon as
77-8 practical after August 27, 2019 (the effective date of Public
78-9 Act 101-589), but no later than January 1, 2021, the following
79-10 information shall be provided in a corporation's annual report
80-11 submitted to the Secretary of State under this Act and made
81-12 available by the Secretary of State to the public online as it
82-13 is received:
83-14 (1) Whether the corporation is a publicly held
84-15 domestic or foreign corporation with its principal
85-16 executive office located in Illinois.
86-17 (2) Where the corporation is a publicly held domestic
87-18 or foreign corporation with its principal executive office
88-19 located in Illinois, data on specific qualifications,
89-20 skills, and experience that the corporation considers for
90-21 its board of directors, nominees for the board of
91-22 directors, and executive officers.
92-23 (3) Where the corporation is a publicly held domestic
93-24 or foreign corporation with its principal executive office
94-25 located in Illinois, the self-identified gender of each
95-26 member of its board of directors.
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106-1 (4) Where the corporation is a publicly held domestic
107-2 or foreign corporation with its principal executive office
108-3 located in Illinois, whether each member of its board of
109-4 directors self-identifies as a minority person and, if so,
110-5 which race or ethnicity to which the member belongs.
111-6 (5) Where the corporation is a publicly held domestic
112-7 or foreign corporation with its principal executive office
113-8 located in Illinois, the self-identified sexual
114-9 orientation of each member of its board of directors.
115-10 (6) Where the corporation is a publicly held domestic
116-11 or foreign corporation with its principal executive office
117-12 located in Illinois, the self-identified gender identity
118-13 of each member of its board of directors.
119-14 (7) Where the corporation is a publicly held domestic
120-15 or foreign corporation with its principal executive office
121-16 located in Illinois, a description of the corporation's
122-17 process for identifying and evaluating nominees for the
123-18 board of directors, including whether and, if so, how
124-19 demographic diversity is considered.
125-20 (8) Where the corporation is a publicly held domestic
126-21 or foreign corporation with its principal executive office
127-22 located in Illinois, a description of the corporation's
128-23 process for identifying and appointing executive officers,
129-24 including whether and, if so, how demographic diversity is
130-25 considered.
131-26 (9) Where the corporation is a publicly held domestic
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71+1 State contracts set under subsection (a), the Commission shall
72+2 by rule further establish targeted efforts to encourage the
73+3 participation of businesses owned by minorities, women, and
74+4 persons with disabilities on State contracts and shall
75+5 establish goals based on the types of communities served by
76+6 businesses. Such efforts shall include, but not be limited to,
77+7 further concerted outreach efforts to businesses owned by
78+8 minorities, women, and persons with disabilities.
79+9 The above percentage relates to the total dollar amount of
80+10 State contracts during each State fiscal year, calculated by
81+11 examining independently each type of contract for each agency
82+12 or public institutions of higher education which lets such
83+13 contracts. Only that percentage of arrangements which
84+14 represents the participation of businesses owned by
85+15 minorities, women, and persons with disabilities on such
86+16 contracts shall be included. State contracts subject to the
87+17 requirements of this Act shall include the requirement that
88+18 only expenditures to businesses owned by minorities, women,
89+19 and persons with disabilities that perform a commercially
90+20 useful function may be counted toward the goals set forth by
91+21 this Act. Contracts shall include a definition of
92+22 "commercially useful function" that is consistent with 49 CFR
93+23 26.55(c).
94+24 (b) Not less than 20% of the total dollar amount of State
95+25 construction contracts is established as an aspirational goal
96+26 to be awarded to businesses owned by minorities, women, and
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142-1 or foreign corporation with its principal executive office
143-2 located in Illinois, a description of the corporation's
144-3 policies and practices for promoting diversity, equity,
145-4 and inclusion among its board of directors and executive
146-5 officers.
147-6 (10) Where the corporation is a publicly held domestic
148-7 or foreign corporation with its principal executive office
149-8 located in Illinois, the percentage of minority supplier
150-9 procurements from business enterprises owned by minority
151-10 persons, women, or persons with disabilities as those
152-11 terms are defined in Section 2 of the Business Enterprise
153-12 for Minorities, Women, and Persons with Disabilities Act.
154-13 Information reported under this subsection shall be
155-14 updated in each annual report filed with the Secretary of
156-15 State thereafter. The Secretary of State shall establish a
157-16 publicly accessible and searchable database of the information
158-17 in each annual report.
159-18 (d) Beginning no later than March 1, 2021, and every March
160-19 1 thereafter, the University of Illinois Systems shall review
161-20 the information reported and published under subsection (c)
162-21 and shall publish on its website a report that provides
163-22 aggregate data on the demographic characteristics of the
164-23 boards of directors and executive officers of corporations
165-24 filing an annual report for the preceding year along with an
166-25 individualized rating for each corporation. The report shall
167-26 also identify strategies for promoting diversity and inclusion
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107+1 persons with disabilities; provided that, contracts
108+2 representing at least 11% of the total dollar amount of State
109+3 construction contracts shall be awarded to businesses owned by
110+4 minorities; contracts representing at least 7% of the total
111+5 dollar amount of State construction contracts shall be awarded
112+6 to women-owned businesses; and contracts representing at least
113+7 2% of the total dollar amount of State construction contracts
114+8 shall be awarded to businesses owned by persons with
115+9 disabilities.
116+10 (c) (Blank).
117+11 (c-5) All goals established under this Section shall be
118+12 contingent upon the results of the most recent disparity study
119+13 conducted by the State.
120+14 (d) Within one year after April 28, 2009 (the effective
121+15 date of Public Act 96-8), the Department of Central Management
122+16 Services shall conduct a social scientific study that measures
123+17 the impact of discrimination on minority and women business
124+18 development in Illinois. Within 18 months after April 28, 2009
125+19 (the effective date of Public Act 96-8), the Department shall
126+20 issue a report of its findings and any recommendations on
127+21 whether to adjust the goals for minority and women
128+22 participation established in this Act. Copies of this report
129+23 and the social scientific study shall be filed with the
130+24 Governor and the General Assembly.
131+25 By December 1, 2020, the Department of Central Management
132+26 Services shall conduct a new social scientific study that
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178-1 among boards of directors and corporate executive officers.
179-2 (e) The University of Illinois System shall establish a
180-3 rating system assessing the representation of women,
181-4 minorities, and LGBTQ people on corporate boards of directors
182-5 of those corporations that are publicly held domestic or
183-6 foreign corporations with their principal executive office
184-7 located in Illinois based on the information gathered under
185-8 this Section. The rating system shall consider, among other
186-9 things: compliance with the demographic reporting obligations
187-10 in subsection (c); the corporation's policies and practices
188-11 for encouraging diversity in recruitment, board membership,
189-12 and executive appointments; and the demographic diversity of
190-13 board seats and executive positions.
191-14 (Source: P.A. 101-589, eff. 8-27-19; 102-223, eff. 1-1-22;
192-15 102-813, eff. 5-13-22.)
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143+1 measures the impact of discrimination on minority and women
144+2 business development in Illinois. By June 1, 2022, the
145+3 Department shall issue a report of its findings and any
146+4 recommendations on whether to adjust the goals for minority
147+5 and women participation established in this Act. Copies of
148+6 this report and the social scientific study shall be filed
149+7 with the Governor and the General Assembly. By December 1,
150+8 2022, the Commission on Equity and Inclusion Business
151+9 Enterprise Program shall develop a model for social scientific
152+10 disparity study sourcing for local governmental units to adapt
153+11 and implement to address regional disparities in public
154+12 procurement.
155+13 (e) All State contract solicitations that include Business
156+14 Enterprise Program participation goals shall require bidders
157+15 or offerors to include utilization plans. Utilization plans
158+16 are due at the time of bid or offer submission. Failure to
159+17 complete and include a utilization plan, including
160+18 documentation demonstrating good faith efforts when requesting
161+19 a waiver, shall render the bid or offer non-responsive.
162+20 Except as permitted under this Act or as otherwise
163+21 mandated by federal regulation, a bidder or offeror whose bid
164+22 or offer is accepted and who included in that bid a completed
165+23 utilization plan but who fails to meet the goals set forth in
166+24 the plan shall be notified of the deficiency by the
167+25 contracting agency or public institution of higher education
168+26 and shall be given a period of 10 calendar days to cure the
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179+1 deficiency by contracting with additional subcontractors who
180+2 are certified by the Business Enterprise Program or by
181+3 increasing the work to be performed by previously identified
182+4 vendors certified by the Business Enterprise Program.
183+5 Deficiencies that may be cured include: (i) scrivener's
184+6 errors, such as transposed numbers; (ii) information submitted
185+7 in an incorrect form or format; (iii) mistakes resulting from
186+8 failure to follow instructions or to identify and adequately
187+9 document good faith efforts taken to comply with the
188+10 utilization plan; or (iv) a proposal to use a firm whose
189+11 Business Enterprise Program certification has lapsed or is not
190+12 yet recognized. Cure is not authorized if the bidder or
191+13 offeror submits a blank utilization plan, a utilization plan
192+14 that shows lack of reasonable effort to complete the form on
193+15 time, or a utilization plan that states the contract will be
194+16 self-performed, by a non-certified vendor, without showing
195+17 good faith efforts or a request for a waiver. All cure activity
196+18 shall address the deficiencies identified by the purchasing
197+19 agency and shall require clear documentation, including that
198+20 of good faith efforts, to address those deficiencies. Any
199+21 increase in cost to a contract for the addition of a
200+22 subcontractor to cure a bid's deficiency shall not affect the
201+23 bid price and shall not be used in the request for an exemption
202+24 under this Act, and, in no case, shall an identified
203+25 subcontractor with a Business Enterprise Program certification
204+26 made under this Act be terminated from a contract without the
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215+1 written consent of the State agency or public institution of
216+2 higher education entering into the contract. The purchasing
217+3 agency or public institution of higher education shall make
218+4 the determination whether the cure is adequate.
219+5 Vendors certified with the Business Enterprise Program at
220+6 the time and date submittals are due and who do not submit a
221+7 utilization plan or have utilization plan deficiencies shall
222+8 have 10 business days to submit a utilization plan or to
223+9 correct the utilization plan deficiencies.
224+10 (f) (Blank).
225+11 (g) (Blank).
226+12 (h) State agencies and public institutions of higher
227+13 education shall notify the Commission on Equity and Inclusion
228+14 of all non-responsive bids or proposals for State contracts.
229+15 (Source: P.A. 101-170, eff. 1-1-20; 101-601, eff. 1-1-20;
230+16 101-657, Article 1, Section 1-5, eff. 1-1-22; 101-657, Article
231+17 40, Section 40-130, eff. 1-1-22; 102-29, eff. 6-25-21;
232+18 102-558, eff. 8-20-21; 102-1119, eff. 1-23-23.)
233+19 Section 10. The Business Corporation Act of 1983 is
234+20 amended by changing Section 8.12 as follows:
235+21 (805 ILCS 5/8.12)
236+22 Sec. 8.12. Female, minority, and LGBTQ directors.
237+23 (a) Findings and purpose. The General Assembly finds that
238+24 women, minorities, and LGBTQ people are still largely
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249+1 underrepresented nationally in positions of corporate
250+2 authority, such as serving as a director on a corporation's
251+3 board of directors. This low representation could be
252+4 contributing to the disparity seen in wages made by females
253+5 and minorities versus their white male counterparts. Increased
254+6 representation of these individuals as directors on boards of
255+7 directors for corporations may boost the Illinois economy,
256+8 improve opportunities for women, minorities, and LGBTQ people
257+9 in the workplace, and foster an environment in Illinois where
258+10 the business community is representative of our residents.
259+11 Therefore, it is the intent of the General Assembly to gather
260+12 more data and study this issue within the State so that
261+13 effective policy changes may be implemented to eliminate this
262+14 disparity.
263+15 (b) As used in this Section:
264+16 "Annual report" means the report submitted annually to the
265+17 Secretary of State pursuant to this Act.
266+18 "Female" means a person who is a citizen or lawful
267+19 permanent resident of the United States and who
268+20 self-identifies as a woman, without regard to the individual's
269+21 designated sex at birth.
270+22 "Minority person" means a person who is a citizen or
271+23 lawful permanent resident of the United States and who is any
272+24 of the following races or ethnicities:
273+25 (1) American Indian or Alaska Native (a person having
274+26 origins in any of the original peoples of North and South
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285+1 America, including Central America, and who maintains
286+2 tribal affiliation or community attachment).
287+3 (2) Asian (a person having origins in any of the
288+4 original peoples of the Far East, Southeast Asia, or the
289+5 Indian subcontinent, including, but not limited to,
290+6 Cambodia, China, India, Japan, Korea, Malaysia, Pakistan,
291+7 the Philippine Islands, Thailand, and Vietnam).
292+8 (3) Black or African American (a person having origins
293+9 in any of the black racial groups of Africa). Terms such as
294+10 "Haitian" or "Negro" can be used in addition to "Black" or
295+11 "African American".
296+12 (4) Hispanic or Latino (a person of Cuban, Mexican,
297+13 Puerto Rican, South or Central American, or other Spanish
298+14 culture or origin, regardless of race).
299+15 (5) Native Hawaiian or Other Pacific Islander (a
300+16 person having origins in any of the original peoples of
301+17 Hawaii, Guam, Samoa, or other Pacific Islands).
302+18 (6) "Publicly held domestic or foreign corporation"
303+19 means a corporation with outstanding shares listed on a
304+20 major United States stock exchange.
305+21 (c) Reporting to the Secretary of State. As soon as
306+22 practical after August 27, 2019 (the effective date of Public
307+23 Act 101-589), but no later than January 1, 2021, the following
308+24 information shall be provided in a corporation's annual report
309+25 submitted to the Secretary of State under this Act and made
310+26 available by the Secretary of State to the public online as it
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321+1 is received:
322+2 (1) Whether the corporation is a publicly held
323+3 domestic or foreign corporation with its principal
324+4 executive office located in Illinois.
325+5 (2) Where the corporation is a publicly held domestic
326+6 or foreign corporation with its principal executive office
327+7 located in Illinois, data on specific qualifications,
328+8 skills, and experience that the corporation considers for
329+9 its board of directors, nominees for the board of
330+10 directors, and executive officers.
331+11 (3) Where the corporation is a publicly held domestic
332+12 or foreign corporation with its principal executive office
333+13 located in Illinois, the self-identified gender of each
334+14 member of its board of directors.
335+15 (4) Where the corporation is a publicly held domestic
336+16 or foreign corporation with its principal executive office
337+17 located in Illinois, whether each member of its board of
338+18 directors self-identifies as a minority person and, if so,
339+19 which race or ethnicity to which the member belongs.
340+20 (5) Where the corporation is a publicly held domestic
341+21 or foreign corporation with its principal executive office
342+22 located in Illinois, the self-identified sexual
343+23 orientation of each member of its board of directors.
344+24 (6) Where the corporation is a publicly held domestic
345+25 or foreign corporation with its principal executive office
346+26 located in Illinois, the self-identified gender identity
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357+1 of each member of its board of directors.
358+2 (7) Where the corporation is a publicly held domestic
359+3 or foreign corporation with its principal executive office
360+4 located in Illinois, a description of the corporation's
361+5 process for identifying and evaluating nominees for the
362+6 board of directors, including whether and, if so, how
363+7 demographic diversity is considered.
364+8 (8) Where the corporation is a publicly held domestic
365+9 or foreign corporation with its principal executive office
366+10 located in Illinois, a description of the corporation's
367+11 process for identifying and appointing executive officers,
368+12 including whether and, if so, how demographic diversity is
369+13 considered.
370+14 (9) Where the corporation is a publicly held domestic
371+15 or foreign corporation with its principal executive office
372+16 located in Illinois, a description of the corporation's
373+17 policies and practices for promoting diversity, equity,
374+18 and inclusion among its board of directors and executive
375+19 officers.
376+20 (10) Where the corporation is a publicly held domestic
377+21 or foreign corporation with its principal executive office
378+22 located in Illinois, the percentage of professional
379+23 services procurements from business enterprises owned by
380+24 minority persons, women, or persons with disabilities as
381+25 those terms are defined in Section 2 of the Business
382+26 Enterprise for Minorities, Women, and Persons with
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393+1 Disabilities Act.
394+2 Information reported under this subsection shall be
395+3 updated in each annual report filed with the Secretary of
396+4 State thereafter. The Secretary of State shall establish a
397+5 publicly accessible and searchable database of the information
398+6 in each annual report.
399+7 (d) Beginning no later than March 1, 2021, and every March
400+8 1 thereafter, the University of Illinois Systems shall review
401+9 the information reported and published under subsection (c)
402+10 and shall publish on its website a report that provides
403+11 aggregate data on the demographic characteristics of the
404+12 boards of directors and executive officers of corporations
405+13 filing an annual report for the preceding year along with an
406+14 individualized rating for each corporation. The report shall
407+15 also identify strategies for promoting diversity and inclusion
408+16 among boards of directors and corporate executive officers.
409+17 (e) The University of Illinois System shall establish a
410+18 rating system assessing the representation of women,
411+19 minorities, and LGBTQ people on corporate boards of directors
412+20 of those corporations that are publicly held domestic or
413+21 foreign corporations with their principal executive office
414+22 located in Illinois based on the information gathered under
415+23 this Section. The rating system shall consider, among other
416+24 things: compliance with the demographic reporting obligations
417+25 in subsection (c); the corporation's policies and practices
418+26 for encouraging diversity in recruitment, board membership,
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429+1 and executive appointments; and the demographic diversity of
430+2 board seats and executive positions.
431+3 (Source: P.A. 101-589, eff. 8-27-19; 102-223, eff. 1-1-22;
432+4 102-813, eff. 5-13-22.)
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