CHICAGO - A new law sponsored by State Senator Emil Jones III (D-Chicago) will help increase the diversity of Illinois’ business community.

“Diversity is an important aspect of the business community,” Jones said. “All historically discriminated against communities deserve representation in the business world.”

Senate Bill 1730 requires publicly held domestic or foreign corporations in Illinois to report the self-identified sexual orientation and gender identity of each member of the company board in their annual report to the secretary of state.

Previously, companies were only required to include the race, ethnicity, and gender of its board members.

“Members of the LGBTQ community should be represented in every facet of life,” Jones said. “These reporting requirements will help corporate boards be more representative of the people in Illinois.”

The new law takes effect Jan. 1, 2022.