Bill Status of HB3335 100th General Assembly
Short Description: COMPENSATION EQUITY FEE
Rep. Jaime M. Andrade, Jr.
|Economic Justice & Equity Committee Hearing Mar 29 2017 2:00PM Stratton Building Room D-1 Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Business Compensation Equity Fee Act. Provides that, beginning on January 1, 2018, an annual fee is imposed on each publicly traded company doing business in the State if the company reports a pay ratio between its chief executive officer's compensation and its employees' median pay of at least 100:1 on a disclosure filed with the United States Securities and Exchange Commission during the taxable year. Provides that, if the company reports a pay ratio of at least 100:1 but less than 250:1, then the amount of the fee shall be $1,500 annually, and if the company reports a pay ratio of 250:1 or greater, then the fee shall be $2,500 annually. Contains provisions concerning the administration of the Act. Effective immediately.