NY State Senate Bill 2021-S8435

Senate Bill S8435

2021-2022 Legislative Session

Requires certain companies and corporations to report certain data regarding the gender, race and ethnicity of their employees

download bill text pdf

Archive: Last Bill Status Via A8449 - Passed Senate

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 25, 2022	returned to assembly passed senate 3rd reading cal.1191 substituted for s8435
May 25, 2022	substituted by a8449
May 16, 2022	advanced to third reading
May 11, 2022	2nd report cal.
May 10, 2022	1st report cal.1191
Mar 01, 2022	referred to corporations, authorities and commissions

Votes

- May 25, 2022 - Floor Vote
  A8449
  
  42
  
  Aye
  
  19
  
  Nay
  
  0
  
  Absent
  
  2
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: May 25, 2022
      
      aye (42)
      
      Addabbo Jr.
      
      Bailey
      
      Biaggi
      
      Boyle
      
      Brisport
      
      Brooks
      
      Cleare
      
      Comrie
      
      Cooney
      
      Felder
      
      Gaughran
      
      Gianaris
      
      Gounardes
      
      Harckham
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Kaminsky
      
      Kaplan
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      Liu
      
      Mannion
      
      May
      
      Mayer
      
      Myrie
      
      Parker
      
      Persaud
      
      Ramos
      
      Reichlin-Melnick
      
      Rivera
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serrano
      
      Skoufis
      
      Stavisky
      
      Stewart-Cousins
      
      Thomas
      
      nay (19)
      
      Akshar
      
      Borrello
      
      Gallivan
      
      Griffo
      
      Helming
      
      Jordan
      
      Lanza
      
      Martucci
      
      Mattera
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Palumbo
      
      Rath III
      
      Ritchie
      
      Serino
      
      Stec
      
      Tedisco
      
      Weik
      
      excused (2)
      
      Breslin
      
      Brouk
  May 10, 2022 - Corporations, Authorities And Commissions Committee Vote
  S8435
  
  6
  
  Aye
  
  1
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Corporations, Authorities And Commissions Committee Vote: May 10, 2022
      
      aye (6)
      
      Comrie
      
      Gaughran
      
      Mattera
      
      Mayer
      
      Ramos
      
      Skoufis
      
      nay (1)
      
      Martucci

2021-S8435 (ACTIVE) - Details

See Assembly Version of this Bill:: A8449
Law Section:: Business Corporation Law
Laws Affected:: Amd §408, BC L; amd §301, Lim Lil L
Versions Introduced in 2023-2024 Legislative Session:: S636, S8496, A5981, A8555

2021-S8435 (ACTIVE) - Summary

Requires certain companies and corporations to report certain data regarding the gender, race and ethnicity of their employees.

2021-S8435 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S8435

SPONSOR: COMRIE
 
TITLE OF BILL:

An act to amend the business corporation law and the limited liability
company law, in relation to requiring certain companies and corporations
to report certain data regarding the gender, race and ethnicity of their
employees

 
PURPOSE:

To provide data to the public about the gender, ethnicity, and race of
companies' employees.

 
SUMMARY OF PROVISIONS:

  Section  one  adds a new paragraph (e) to the business corporation law
to require corporations which are required to file an Employer  Informa-
tion  report EE0-1 with the federal Equal Employment Opportunity Commis-
sion (EEOC) to file substantially similar information with the New  York
Secretary of State. The Secretary of State shall publish the data on its

official  website  within  90  days  of receipt or as soon thereafter as
practicable.

Section two amends paragraph 1 of subdivision (e) of section 30  of  the
limited  liability  company  law  to require limited liability comp;iWes
which are required to file an Employer Information report EEO-1 with the
federal Equal Employment Opportunity Commission (EEOC) to file  substan-
tially  similar  information  with  the New York Secretary of Stale. The
Secretary of State shall publish the data on its official website within
90 days of receipt or as soon thereafter as practicable.

Section three provides the effective date.

 
JUSTIFICATION:

In recent years, consumers have become  more  interested  in  supporting
companies  that  share  their.  values.  Investors are also increasingly
concerned with companies' environmental, social,  and  governance  (ESC)
standards  when  they  make investment decisions. In response, companies
often tout their commitment to  diversity,  equity  &  inclusion  (DEI),
environmental goals, or other causes, but there is little data available
to the public to verify these claims.

In addition, current and prospective employees have an interest in eval-
uating  the  DEI  practices  of employers, but do not have access to the
company-wide employee demographic data needed to make  such  an  assess-
ment.

This  bill  would  require those companies which are required to file an
Employer Information report EEO-1  with  the  federal  Equal  Employment
Opportunity Commission (EEOC)file substantially similar information with
the  New  York  Secretary  of  State. The EEO-1 form is required for all
private sector employers with 100 or more employees and federal contrac-
tors with 50 or pore employees, and contains demographic workforce data,
including data by race/ethnicity, sex and job categories. The  Secretary
of  State  would  post this information on its website, making it easily
available to the public.
Having this data publicly available  will  help  create  an  environment
where we hold our companies accountable, provide consumers and employees
with  the  data  t  make  good decisions, and provide investors with the
information to deploy capital in a manner in keeping with their values.

 
LEGISLATIVE HISTORY:

New

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2021-S8435 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8435
 
                             I N  S E N A T E
 
                               March 1, 2022
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to amend the business corporation law and the limited liability
   company law, in relation to requiring  certain  companies  and  corpo-
   rations to report certain data regarding the gender, race and ethnici-
   ty of their employees

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 1 of section 408 of the business corporation  law
 is amended by adding a new subparagraph (e) to read as follows:
   (E)  FOR  THOSE  CORPORATIONS REQUIRED TO FILE AN EMPLOYER INFORMATION
 REPORT EEO-1 WITH THE EQUAL EMPLOYMENT OPPORTUNITY COMMISSION,  INFORMA-
 TION THAT IS SUBSTANTIALLY SIMILAR TO THE EMPLOYMENT DATA REPORTED UNDER
 SECTION  D  OF  SUCH CORPORATION'S MOST RECENTLY FILED EEO-1 IN A FORMAT
 APPROVED BY THE SECRETARY OF STATE. FOR EACH  CORPORATION  THAT  SUBMITS
 DATA  PURSUANT  TO  THIS PARAGRAPH, THE SECRETARY OF STATE SHALL PUBLISH
 THE DATA ON THE  GENDER,  RACE,  AND  ETHNICITY  OF  EACH  CORPORATION'S
 EMPLOYEES ON THE SECRETARY OF STATE'S OFFICIAL WEBSITE. THE SECRETARY OF
 STATE  SHALL PUBLISH SUCH INFORMATION WITHIN NINETY DAYS OF RECEIPT OF A
 PROPERLY FILED STATEMENT OR AS SOON THEREAFTER AS PRACTICABLE.
   § 2. Paragraph 1 of subdivision (e) of  section  301  of  the  limited
 liability  company  law, as amended by section 5 of part S of chapter 59
 of the laws of 2015, is amended to read as follows:
   (1) Except as otherwise provided in this  subdivision,  every  limited
 liability company to which this chapter applies, shall biennially in the
 calendar  month during which its articles of organization or application
 for authority were filed, or effective date thereof if stated,  file  on
 forms  prescribed  by  the secretary of state, a statement setting forth
 the post office address within or without this state to which the secre-
 tary of state shall mail a copy  of  any  process  accepted  against  it
 served  upon  him  or  her.  Such  address  shall supersede any previous
 address on file with the department of state  for  this  purpose.  ADDI-
 TIONALLY,  FOR  THOSE  LIMITED  LIABILITY  COMPANIES REQUIRED TO FILE AN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD13078-01-1
 S. 8435                             2
 
 EMPLOYER INFORMATION REPORT EEO-1 WITH THE EQUAL EMPLOYMENT  OPPORTUNITY
 COMMISSION,  SUCH  COMPANIES TO WHICH THIS CHAPTER APPLIES SHALL INCLUDE
 ON THE STATEMENT  REQUIRED  BY  THIS  SUBDIVISION  INFORMATION  THAT  IS
 SUBSTANTIALLY SIMILAR TO THE EMPLOYMENT DATA REPORTED UNDER SECTION D OF
 SUCH  COMPANY'S  MOST  RECENTLY  FILED EEO-1 IN A FORMAT APPROVED BY THE
 SECRETARY OF STATE. FOR EACH LIMITED LIABILITY COMPANY THAT SUBMITS DATA
 PURSUANT TO THIS SUBDIVISION, THE SECRETARY OF STATE SHALL  PUBLISH  THE
 DATA  ON  THE GENDER, RACE, AND ETHNICITY OF EACH COMPANY'S EMPLOYEES ON
 THE SECRETARY OF STATE'S OFFICIAL WEBSITE. THE SECRETARY OF STATE  SHALL
 PUBLISH  SUCH  INFORMATION  WITHIN  NINETY DAYS OF RECEIPT OF A PROPERLY
 FILED STATEMENT OR AS SOON THEREAFTER AS PRACTICABLE.
   § 3. This act shall take effect two years after it shall have become a
 law.

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