HB 3720

Abstract

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. Amends the Business Corporation Act of 1983. Requires a corporation that is a publicly held domestic or foreign corporation with its principal executive office located in Illinois to provide in its 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. House Floor Amendment No. 1 Deletes reference to: 30 ILCS 575/4 Adds reference to: 805 ILCS 5/8.12 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Provides that a corporation that is a publicly held domestic or foreign corporation with its principal executive office located in Illinois to provide in its annual report the percentage of minority suppliers (rather than 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. Removes provisions concerning the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.