Number of Women on Corporate Boards to be Counted

A new law in New York State requires the State Department of State and the Department of Taxation and Finance to do a study on the number of women who lead domestic and foreign corporations authorized to do business with the state.

The “Women on Corporate Boards Study”, signed by Governor Andrew Cuomo December 30 looks to help guide policies to make sure businesses that are headed by women are on a level playing field with other corporations authorized to enter into deals with New York government.

The legislation takes effect in July and requires the study be published no later than February 1 of 2022.

In addition to the number of women directors, the study will look at the total number of directors that make up boards and notes the change in the number of females in top positions over previous years.