ABCDEFGHIJKLMNOPQRSTUVWXYZ
1
Results
2
Total In CA Business Database (joint 253/261)599
3
Total Headquartered in CA (joint 253/261)128
4
Total Potentially Covered by SB 253/261727
5
Total Companies Potentially Covered by SB 253751*includes 2 insurance firms HQ in California and 22 insurance firms registered with the SOS
6
% of Fortune 1000 Potentially Covered by SB 253/26172.70%
7
% of Fortune 1000 Potentially Covered by SB 25375.10%
8
9
10
11
12
Data
13
Fortune 1000 dataset https://www.kaggle.com/datasets/winston56/fortune-500-data-2021
14
California Secretary of State Business Searchhttps://bizfileonline.sos.ca.gov/search/business
15
16
Method:
17
We determined if a company was potentially covered by SB 253 and 261 in the following manner: (1) We identified and excluded two types of companies. First, those that focus on insurance (we identified insurance companies through names and web searches of financial and health-sector firms present in the Fortune 1000), because they are outside the scope of SB 261. Second, we exclude firms that do not have stock tickers, since we seek to identify the overlap between the California laws and the publicly-traded Fortune 1000 companies that are most likely subject to the SEC rule. (2) From this sample, we then identified what companies were headquartered in California using the "state" column in the Fortune 1000 dataset. (3) The remaining company names in the Fortune 1000 were cross-checked with active entities in the CA business search, which includes LLCs, LPs, and Corporations, but does not include GPs, LLPs, and other entities. In most cases, when company names appear in the CA registry they fall into the entity type "Stock Corporations-Out of State-Stock" or "Limited Liability Company-Out of State". In some cases, judgment was required in determining what to accept. If there were multiple entities with a similar name, or if entity names were unclear, we undertook a web search and checked the company headquarters location. If an entity address in the CA registry matched with the listed business headquarters, we accept it. If we were unable to cleanly confirm that an entity matched with the listed company headquarters, we do not accept it. We determined if a company was potentially covered by only SB 253 by separately cataloging and searching previously identified insurance companies following the same process and criteria. We then added the included insurance firms to the total tally. The companies we identify as insurance companies here include companies that may have other business lines or subsidiaries besides insurance. We performed our search from Sept 29th - Oct 9th, 2023.
18
19
Notes
20
(1) A few companies (<10) have recently been taken private, and are no longer listed as of Q3 2023. To be consistent with the underlying data, we still include them in our search. Exclusion of these companies would not substantially change the result.
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100