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119-s-2359119th CongressWALLET

SAFE HIRE Act

Sponsored By: Senator Moreno, Bernie [R-OH]

Introduced

Summary

This bill would require annual employment-eligibility certifications by corporate CEOs and chief HR officers for public companies. It creates a new securities reporting certification focused on I-9 and E-Verify controls, disclosure of hiring compliance problems, and rulemaking by regulators.

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  • Public companies and other issuers would have to certify that they maintain internal controls to ensure compliance with federal employment-eligibility rules, identify fraudulent hiring documents, and detect and fix violations. They must evaluate those controls at least 90 days before filing and list any significant deficiencies and known violations in their annual report.
  • The principal executive officer and the principal human resources officer would sign the certification and face criminal penalties for false or missing certifications. Penalties include fines up to $1.0 million and up to 10 years in prison, with enhanced penalties up to $5.0 million and 20 years for violations involving unauthorized workers.
  • The Securities and Exchange Commission would have one year to write rules to put the certification on Form 10-K, set public availability rules, and issue any regulations needed to implement the program. Companies must also disclose significant control failures and known material violations to the Department of Homeland Security and the Department of Justice.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

New hiring certifications for public companies

If enacted, this bill would require public companies to include a yearly certification about hiring and employment eligibility in their annual report (for example, Form 10-K). The CEO and the top human resources officer would need to confirm they reviewed the report, evaluated internal hiring controls at least 90 days before filing, and that the report fairly presents hiring and employees' legal work status. They would also have to disclose and submit a separate list of any significant I-9 or E-Verify control failures or known violations to DHS and DOJ. Knowingly filing a false certification or willfully failing to file the certification or list would be a federal crime with penalties up to $1,000,000 and/or up to 10 years in prison. If the violation involves hiring unauthorized workers in violation of 8 U.S.C. 1324a(a)(1), penalties could be up to $5,000,000 and/or up to 20 years. The SEC would have to adopt rules, public-availability requirements, and any needed regulations within one year after enactment.

Sponsors & CoSponsors

Sponsor

Moreno, Bernie [R-OH]

OH • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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