October 2, 2020
This Week in Illinois
California Governor Signs Corporate Boardroom Diversity Law
week California Governor Gavin Newsom signed a bill requiring more than 660
public corporations with California headquarters to have at least one board
member from an unrepresented community or face stiff civil penalties.
The measure requires at least two directors on boards with at least four
members that identify as Black, Latino, Asian, Pacific Islander, Native
American, Native Hawaiian or Alaska Native or as gay, lesbian, bisexual or
transgender. Firms that have more than nine directors must have at least
three board members that meet the above criteria. Firms that do not comply
face $100,000 fines for the first violation and $300,000 for subsequent
We expect similar legislation to be introduced in Illinois this spring with the new legislative session. The Illinois Chamber has great concerns about this type of legislation and has opposed similar bills introduced in the past. We will keep you informed as further action is warranted.
Also from the California Files
Governor Gavin Newsome signed an executive order last week which will ban the
sale of gasoline and diesel-powered passenger cars in that state by
2035. California often serves as the harbinger of things to come in
Illinois. For now, Governor Pritzker's electric ambitions remain merely
you missed the Chamber's virtual annual meeting last week, you can view
President and CEO of the Federal Reserve Bank of Chicago Charles Evans'
keynote speech on Economic Development in
Distressed Communities below.
week, we will be sending out more photos and videos from the event, including
the opening remarks from Illinois Market at Commerce Bank CEO and Chamber
Board Chair Brent Eichelberger and the panel discussion with Chairman of the
Chicago Cubs Tom Ricketts and Wintrust President Timothy S. Crane, moderated
by Wintrust Vice President of Community Affairs and Chamber
International Business Council Co-Chair Susana Meza.
Progressive Income Tax
Now is the time to come together and say NO to the progressive income tax amendment that will close businesses and raise taxes on working Illinois families.
Goodwill of Central Illinois will hold the 5th Annual Recycle Your Style Contest. High school students within Goodwill’s territory are encouraged to donate their used clothing. The high school that donates the most pounds of clothing will win a SMART Board donated by Bradfield’s Computer Supply. The contest runs from October 1st through October 31st. “This has been a very successful campaign for us,” said Bob Parkhurst, Goodwill Vice President. “We are grateful for Bradfield’s Computer Supply’s donation of a SMART Board each year. That prize really heats up the competition among the high schools.” Donations of items other than clothing are encouraged, but only clothing will count toward the contest. Only high schools are eligible, but others can participate including teachers, family and school supporters. Donors need to tell the Goodwill donation attendant which high school they are supporting for their donation to be counted. Donations can be made at any of Goodwill’s nine stores o