This bill mandates that both domestic and foreign corporations authorized to operate in New Jersey include demographic information in their annual reports submitted to the Department of the Treasury. Specifically, corporations must report statistics regarding the race, ethnicity, sexual orientation, gender identity or expression, disability status, and veteran status of their directors and officers. The bill amends existing legal language to add this requirement, while also removing certain outdated provisions related to the addresses of corporate officers.

Additionally, the bill requires the State Treasurer to compile and publish a report every four years, starting February 1, 2026, detailing the demographic information of corporate officers and board members for publicly held corporations based in New Jersey. This report will include data on the demographics of these individuals, changes over time, and aggregate statistics across all corporations. The intent of the bill is to enhance transparency and promote diversity within corporate leadership in the state.