Requires certain companies and corporations to report certain data regarding the gender, race and ethnicity of their employees.
Summary
Bill A01975 amends the business corporation law and the limited liability company law to require certain corporations and limited liability companies to report data regarding the gender, race, and ethnicity of their employees. Specifically, corporations and limited liability companies that are required to file an employer information report (EEO-1) with the Equal Employment Opportunity Commission (EEOC) must also submit a copy of this report to the Secretary of State. The Secretary of State is then tasked with publishing this data on their official website within ninety days of receipt.
Impact
The bill will enhance transparency regarding workforce diversity in New York by mandating that specific corporations and limited liability companies disclose demographic data about their employees. This change is expected to influence state laws related to employment equity and diversity reporting, potentially leading to increased scrutiny of hiring practices and workforce composition in the private sector.
Sentiment
The general sentiment around Bill A01975 appears to be supportive among advocates for diversity and inclusion, as it aims to promote transparency in employment practices. However, there may be concerns from some business groups regarding the administrative burden of compliance and the implications of publicizing such data.
Contention
Notable points of contention may arise from businesses that feel this requirement imposes additional regulatory burdens and could lead to potential backlash or misinterpretation of the data published. Advocates for civil rights and workforce diversity may argue that this transparency is necessary for accountability and progress in addressing systemic inequities in the workplace.
Corporations; require corporations and limited liability companies and their subsidiaries to provide certain information to the Secretary of State if they own a certain number of multifamily residences