Bill Status of SB 76   101st General Assembly

Short Description:  BUS CORP-FEMALE DIRECTORS

Senate Sponsors
Sen. Cristina Castro-Iris Y. Martinez and Julie A. Morrison

Last Action  View All Actions

DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
805 ILCS 5/8.90 new

Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/23/2019SenateFiled with Secretary by Sen. Cristina Castro
  1/23/2019SenateFirst Reading
  1/23/2019SenateReferred to Assignments
  1/23/2019SenateAssigned to Commerce and Economic Development
  1/28/2019SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  3/5/2019SenateAdded as Co-Sponsor Sen. Julie A. Morrison
  3/13/2019SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
  3/13/2019SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/14/2019SenatePostponed - Commerce and Economic Development
  3/14/2019SenateSenate Committee Amendment No. 1 Assignments Refers to Commerce and Economic Development
  3/21/2019SenateSenate Committee Amendment No. 1 Postponed - Commerce and Economic Development
  3/21/2019SenatePostponed - Commerce and Economic Development
  3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019
  3/28/2019SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  3/28/2019SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2021SenateSession Sine Die

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