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2024 SESSION

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HB 212 MEI Project Approval Commission; board-level gender and diversity requirements.

Introduced by: Vivian E. Watts | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

MEI Project Approval Commission; board-level gender and diversity requirements. Requires the MEI Project Approval Commission to consider, prior to recommending approval of any major employment and investment (MEI) project, a board diversity disclosure statement submitted by the business seeking incentives. The Commission is required to consider (i) whether such statement specifies the number and percentage of diverse directors who identify as female or as representing a national, racial, ethnic, indigenous, or cultural minority in the country of the business's principal executive offices and (ii) whether the business commits to annually updating and submitting such statement. This bill is identical to SB 393.

SUMMARY AS PASSED HOUSE:

MEI Project Approval Commission; board-level gender and diversity requirements. Requires that the MEI Project Approval Commission considers, prior to recommending approval of any major employment and investment (MEI) project, a board diversity disclosure statement submitted by the business seeking incentives. The statement shall include the number and percentage of diverse directors who identify as female or as representing a national, racial, ethnic, indigenous, or cultural minority in the country of the business's principal executive offices.

SUMMARY AS INTRODUCED:

MEI Project Approval Commission; board-level gender and diversity requirements. Requires that the MEI Project Approval Commission considers, prior to recommending approval of any major employment and investment (MEI) project, (i) whether a business has and commits to maintaining a balanced board of directors based upon gender and racial diversity, such that at least 30 percent of such board of directors consists of women and historically underrepresented groups, and (ii) whether a business seeking approval of a project submits a board diversity disclosure and commits to updating such disclosure annually, specifying the number and percentage of diverse directors on the board of such business who self-identify as female or represent a national, racial, ethnic, indigenous, or cultural minority in the country of the business's principal executive offices.