Improving Corporate Governance Through Diversity Act of 2017
- Last Action
- 2/7/2017
Actions
- 2017-02-07Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2017-02-07Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2017-02-07Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2017-02-07Introduced in House
- 2017-02-07Introduced in House
CRS Summary
As of 2017-02-07 (00)
Improving Corporate Governance Through Diversity Act of 2017
This bill directs executive agencies to require any covered contractor (a for-profit business with gross receipts exceeding $1 billion for the previous year) awarded a contract of $5 million or more to submit, within 60 days:
- data on the racial, ethnic, and gender composition of such contractor's board of directors and senior executives;
- data on the affiliation of any such board member or executive to a historically underrepresented group, including veterans and individuals with disabilities; and
- any plan or strategy to improve the diversity of such board members or executives.
Each agency shall submit quarterly reports on such data to the General Services Administration, which shall report to Congress annually on the diversity of such contractor boards and executives.
The Securities Exchange Act of 1934 is amended to require each issuer of a registered security to disclose such data, plan, and strategy in its required annual report.
The Securities and Exchange Commission must revise corporate governance regulations to require that when the description is presented in a proxy or information statement relating to the election of directors, the nominee's qualities and skills, along with the nominee's gender, race, ethnicity, and affiliation with a historically underrepresented group, are presented in a chart or matrix form.
Cosponsors (19)
- CAROLYN MALONEY (D-NY)
- Debbie Dingell (D-MI)
- Nanette Barragan (D-CA)
- SHEILA JACKSON LEE (D-TX)
- BARBARA LEE (D-CA)
- Joyce Beatty (D-OH)
- EDDIE JOHNSON (D-TX)
- Marcia Fudge (D-OH)
- NYDIA VELAZQUEZ (D-NY)
- Keith Ellison (D-MN)
- Yvette Clarke (D-NY)
- JOHN CONYERS (D-MI)
- Dwight Evans (D-PA)
- BOBBY RUSH (D-IL)
- BENNIE THOMPSON (D-MS)
- Gwen Moore (D-WI)
- WM. CLAY (D-MO)
- ELEANOR NORTON (D-DC)
- JOSE SERRANO (D-NY)
Subjects
- Administrative law and regulatory procedures
- Business records
- Congressional oversight
- Corporate finance and management
- Disability and paralysis
- Employment discrimination and employee rights
- Government information and archives
- Minority employment
- Public contracts and procurement
- Racial and ethnic relations
- Securities
- Securities and Exchange Commission (SEC)
- Sex, gender, sexual orientation discrimination
- Veterans' education, employment, rehabilitation
- Women's employment
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.