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HI SB193

Bill

Status

Engrossed

3/5/2021

Primary Sponsor

Karl Rhoads

Click for details

Origin

Senate

2021 Regular Session

AI Summary

  • Requires publicly held domestic corporations with principal executive offices in Hawaii to have a gender-diverse board of directors by December 31, 2021

  • Mandates minimum board composition by December 31, 2023: at least three male or non-binary directors and three female or non-binary directors, with scaled requirements for smaller boards (minimum one of each gender for boards with four or fewer directors)

  • Establishes Department of Commerce and Consumer Affairs oversight including compliance reporting, publication of compliance data by July 1, 2024, and annual reports beginning March 1, 2025

  • Imposes administrative fines for non-compliance: $500 for first failure to file required information and $1,000 for subsequent violations; $1,000 for first failure to meet gender representation requirements and $5,000 for subsequent violations within ten years

  • Takes effect July 1, 2021

Legislative Description

Relating To Equitable Gender Representation On Corporate Boards.

Reports

Last Action

Referred to ECD, CPC, FIN, referral sheet 21

3/9/2021

Committee Referrals

Economic Development3/9/2021
Judiciary2/17/2021
Commerce and Consumer Protection1/25/2021

Full Bill Text

No bill text available