SP0355, LD 1015, item 1, An Act To Require Large Employers To Report Compensation Information

An Act To Require Large Employers To Report Compensation Information

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 26 MRSA §54 is enacted to read:

§ 54. Compensation reports

1. Employer compensation report. An employer that employs more than 100 employees in the State shall disclose annually to the bureau the total compensation for the previous year of the chief executive officer of the employer and the total compensation of the full-time employee of the employer with the lowest rate of pay.

2. Bureau compensation report. The bureau annually shall issue a report that includes for each employer that employs more than 100 employees in the State:

A. The name and address of the employer;

B. The total compensation of the chief executive officer of the employer and the total compensation of the full-time employee of the employer with the lowest rate of pay; and

C. The ratio of the total compensation of the chief executive officer of the employer to the total compensation of the full-time employee of the employer with the lowest rate of pay.

3. Submission of report. By February 2nd of each year, the bureau shall submit the report in subsection 2 to the joint standing committee of the Legislature having jurisdiction over labor matters, the President of the Senate, the Speaker of the House of Representatives and the minority leaders in the Senate and the House of Representatives and post the report on the Department of Labor's publicly accessible website.

4. Outside funding. The Department of Labor may seek and accept funding contributions to fully fund the costs of the report in subsection 2.

5. Rules. The bureau may adopt routine technical rules pursuant to Title 5, chapter 375, subchapter 2-A to carry out the purposes of this section.

summary

This bill requires employers who employ over 100 workers in the State to report annually to the Bureau of Labor Standards within the Department of Labor the total compensation of the chief executive officer of the employer and the total compensation of the full-time employee of the employer with the lowest rate of pay. The bill requires the bureau to submit an annual report including, for each employer required to report under this bill, the employers' information and the ratio of the total compensation of the chief executive officer of the employer to the total compensation of the full-time employee of the employer with the lowest rate of pay to the Legislature and post the report on the department's website.

SP0355 LD 1015	Session - 127th Maine Legislature		LR 1006 Item 1
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