IIB 
116TH CONGRESS 
1ST SESSION H. R. 3624 
IN THE SENATE OF THE UNITED STATES 
OCTOBER 21, 2019 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To amend the Securities Exchange Act of 1934 to require 
the disclosure of the total number of domestic and for-
eign employees of certain public companies, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
VerDate Sep 11 2014 
23:05 Oct 21, 2019
Jkt 099200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3624.RFS
H3624
kjohnson on DSK79L0C42 with BILLS
HR 3624 RFS
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Outsourcing Account-
ability Act of 2019’’. 
SEC. 2. REQUIRED DISCLOSURE OF NUMBER OF DOMESTIC 
AND FOREIGN EMPLOYEES. 
Section 13 of the Securities Exchange Act of 1934 
(15 U.S.C. 78m) is amended by adding at the end the 
following: 
‘‘(s) DISCLOSURE OF NUMBER OF DOMESTIC AND 
FOREIGN EMPLOYEES.— 
‘‘(1) DEFINITION.—In this subsection, the term 
‘covered subsidiary’ means, with respect to an issuer, 
any subsidiary of such issuer that is— 
‘‘(A) a consolidated subsidiary; or 
‘‘(B) a subsidiary with respect to which the 
issuer accounts for the investment of the issuer 
in the subsidiary using the equity method of ac-
counting. 
‘‘(2) DISCLOSURE REQUIREMENT.—Except with 
respect to an emerging growth company, beginning 
in the first full fiscal year that begins after the date 
of the enactment of this subsection, each issuer that 
is required to file a report with the Commission pur-
suant to subsection (a) shall disclose in such re-
port— 
VerDate Sep 11 2014 
23:05 Oct 21, 2019
Jkt 099200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3624.RFS
H3624
kjohnson on DSK79L0C42 with BILLS
HR 3624 RFS
‘‘(A) the total number of employees of the 
issuer and any covered subsidiary of the issuer 
who are domiciled in the United States— 
‘‘(i) disaggregated by State, District 
of Columbia, commonwealth, territory, or 
possession of the United States; and 
‘‘(ii) compared using a percentage 
change calculation to any such total re-
ported by the issuer in the most recent an-
nual report of the issuer; 
‘‘(B) the total number of employees of the 
issuer who physically work in and are domiciled 
in any country other than the United States— 
‘‘(i) disaggregated by country; and 
‘‘(ii) compared using a percentage 
change calculation to any such total re-
ported by the issuer in the most recent an-
nual report of the issuer; and 
‘‘(C) the total number of employees of any 
covered subsidiary of the issuer who physically 
work in and are domiciled in any country other 
than the United States— 
‘‘(i) disaggregated by country; and 
‘‘(ii) compared using a percentage 
change calculation to any such total re-
VerDate Sep 11 2014 
23:05 Oct 21, 2019
Jkt 099200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H3624.RFS
H3624
kjohnson on DSK79L0C42 with BILLS
HR 3624 RFS
ported by the issuer in the most recent an-
nual report of the issuer. 
‘‘(3) RULEMAKING.—The Commission may 
issue such rules as the Commission considers nec-
essary to implement this subsection.’’. 
Passed the House of Representatives October 18, 
2019. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
VerDate Sep 11 2014 
23:05 Oct 21, 2019
Jkt 099200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H3624.RFS
H3624
kjohnson on DSK79L0C42 with BILLS