IL SB1730

Amends the Illinois Business Corporation Act to expand demographic reporting requirements for publicly held corporations with principal executive offices in Illinois to include sexual orientation and gender identity of board members, in addition to existing gender and race/ethnicity reporting.

Requires corporations to report by January 1, 2021 (updated annually): self-identified gender of board members, minority status and race/ethnicity, sexual orientation, and gender identity of each director.

Mandates corporations report on their board nomination and executive appointment processes, including whether and how demographic diversity is considered in these processes.

Directs the University of Illinois System to publish annual reports beginning March 1, 2021 with aggregate demographic data on corporate boards and executives, individualized ratings for each corporation, and strategies for promoting diversity and inclusion.

Establishes a rating system assessing representation of women, minorities, and LGBTQ people on corporate boards based on compliance with reporting requirements, diversity policies and practices, and actual demographic diversity of board and executive positions.