Sen. Lewis has filed the following bills to address economic development and shared prosperity issues:
- An Act Relative to Excessive Executive Compensation: This bill requires for-profit publicly traded corporations and financial institutions to pay a higher corporate excise tax if the compensation of the CEO/highest paid employee is greater than 100 times that of the median worker’s compensation.
- An Act to Require Corporate Social Responsibility Reporting: This bill requires for-profit and not-for-profit corporations with 50+ employees to create an annual report describing their efforts to be socially responsible. These reports would be submitted to the Secretary of State along with their financial statements. Public charities are not included in this bill.
- An Act to Protect Trade Secrets and Eliminate Non-Competition Agreements: This bill would ban non-competition agreements and adopt the Uniform Trade Secrets Act in Massachusetts in order to address trade secret misappropriation.
- An Act Relative to Promoting Local Economic Development: This bill would create a program to provide funding or other opportunities to municipalities or regions that maximize opportunities for economic development planning and growth.
- An Act Relative to Marketing Prioritized Development Sites: This bill would require the Office of Business Development to create and maintain a statewide database of developable lands and vacant sites.
- An Act to Pro-rate the Corporate Excise Tax: This bill would allow for business entities who incorporate in the last quarter of the year to pro-rate what they owe in excise tax. These new corporations would owe a quarter of the corporate excise tax that they would have been assessed for the year of incorporation otherwise.
You can see a full list of the legislation Senator Lewis has filed or co-sponsored here.