HB3335 - Business Compensation Equity Fee Act

• Imposes an annual fee on publicly traded companies doing business in Illinois beginning January 1, 2018 if they report a CEO-to-median employee pay ratio of at least 100:1 on SEC filings.

• Companies with pay ratios of 100:1 to less than 250:1 pay $1,500 annually; companies with ratios of 250:1 or greater pay $2,500 annually.

• Department of Revenue collects fees starting April 15, 2019, with companies required to file annual returns containing business name, principal address, SEC-reported pay ratio, and other requested information.

• Companies must maintain books and records in English subject to Department inspection; violations including fraudulent returns result in fines of $1,000 to $7,500.

• Fee proceeds are deposited into the General Revenue Fund; provisions of the Retailers' Occupation Tax Act and Uniform Penalty and Interest Act apply to administration and enforcement.