119-s2359

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2359 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 2359

To require certification of employment eligibility compliance in annual 
 reporting of certain securities issuers, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 July 21, 2025

 Mr. Moreno introduced the following bill; which was read twice and 
 referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

 A BILL

To require certification of employment eligibility compliance in annual 
 reporting of certain securities issuers, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Strengthening Accountability for 
Employers Hiring Individuals and Reforming Enforcement Act'' or the 
``SAFE HIRE Act''.

SEC. 2. EXECUTIVE CERTIFICATION OF EMPLOYMENT ELIGIBILITY COMPLIANCE.

 

Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) 
is amended by adding at the end the following:
 ``

    (t) Certification Requirements.--
 ``

    (1) === Definitions. ===
-In this subsection:
 ``
        (A) Covered employer.--The term `covered 
 employer' means any issuer of a security registered 
 under 

section 12 or person required to file a report 
 under 

section 15
            (d) .
 ``
        (B) Internal controls.--The term `internal 
 controls' means policies, procedures, and systems 
 reasonably designed to--
 ``
            (i) ensure compliance with employment 
 eligibility verification requirements under 
 Federal law, including 

section 274A of the 
 Immigration and Nationality Act (8 U.S.C. 
 1324a);
 ``
            (ii) identify and prevent the use of 
 fraudulent or unauthorized documentation in the 
 hiring process; and
 ``
            (iii) promptly detect, report, and 
 remediate any known violations of such 
 requirements.
 ``
            (C) Principal executive officer.--The term 
 `principal executive officer' has the meaning given in 
 

section 229.402

    (a)

    (3) of title 17, Code of Federal 
 Regulations, or any successor regulation.
 ``
            (D) Principal human resources officer.--The term 
 `principal human resources officer' means the most 
 senior officer of a covered employer with 
 responsibility for human capital management, including 
 employment eligibility policies and compliance.
 ``

    (2) Certification.--The principal executive officer and 
 the principal human resources officer (or officers performing 
 similar functions) of each covered employer shall submit with 
 each annual report filed under subsection

    (a) or 

section 15
            (d) the following:
 ``
        (A) A certification that--
 ``
            (i) the certifying officers have reviewed 
 the report;
 ``
            (ii) based on the knowledge of the 
 certifying officers, the report does not 
 contain any untrue statement of a material fact 
 or omit to state a material fact necessary to 
 make the statements made, in light of the 
 circumstances, not misleading;
 ``
            (iii) based on the knowledge of the 
 certifying officers, the report fairly 
 presents, in all material respects, the 
 employment practices of the issuer, including 
 the number and legal work status of persons 
 employed;
 ``
            (iv) the certifying officers--
 ``
            (I) are responsible for 
 establishing and maintaining internal 
 controls with respect to employment 
 eligibility verification (including 
 Form I-9 compliance and E-Verify);
 ``
            (II) have designed such internal 
 controls to ensure that material 
 information relating to compliance with 
 

section 274A of the Immigration and 
 Nationality Act (8 U.S.C. 1324a) is 
 made known to such officers by others 
 within the company;
 ``
            (III) have evaluated the 
 effectiveness of the internal controls 
 described in subclause
            (II) not less 
 than 90 days prior to the submission of 
 the report; and
 ``
            (IV) have presented in the report 
 their conclusions about the 
 effectiveness of such internal controls 
 based on their evaluation; and
 ``
            (v) the certifying officers have 
 disclosed to the Department of Homeland 
 Security and the Department of Justice--
 ``
            (I) all significant deficiencies 
 in the internal controls of the covered 
 employer which could adversely affect 
 the ability of the covered employer to 
 ensure compliance with Federal 
 employment eligibility requirements; 
 and
 ``
            (II) any known material violation 
 of 

section 274A of the Immigration and 
 Nationality Act (8 U.S.C. 1324a), 
 including the employment of 
 unauthorized aliens, as defined in 
 subsection

    (h) of that section.
 ``
        (B) A list of all disclosed significant 
 deficiencies and known material violations described in 
 subparagraph
        (A)
            (v) .
 ``

    (3) Criminal penalties for false certification.--
 ``
        (A) In general.--It shall be unlawful for a 
 principal executive officer or principal human 
 resources officer (or other officer performing similar 
 functions) of a covered employer to--
 ``
            (i) certify any statement described in 
 paragraph

    (2)
        (A) knowing that the report does 
 not comply with the requirements therein; or
 ``
            (ii) willfully fail to make the 
 certification under paragraph

    (2)
        (A) or submit 
 the list of disclosed significant deficiencies 
 and known material violations pursuant to 
 paragraph

    (2)
        (B) .
 ``
        (B) Penalties.--
 ``
            (i) In general.--Any individual who 
 violates subparagraph
        (A) shall be fined not 
 more than $1,000,000, imprisoned not more than 
 10 years, or both.
 ``
            (ii) Enhanced penalty.--Any individual 
 who violates subparagraph
        (A) with respect to 
 the employment of unauthorized aliens in 
 violation of 

section 274A

    (a)

    (1) of the 
 Immigration and Nationality Act (8 U.S.C. 
 1324a

    (a)

    (1) ) shall be fined not more than 
 $5,000,000, imprisoned not more than 20 years, 
 or both.''.

SEC. 3. IMPLEMENTATION AND RULEMAKING.

 Not later than 1 year after the date of enactment of this Act, the 
Chair of the Securities and Exchange Commission, in consultation with 
the Secretary of Homeland Security and the Attorney General, shall--

    (1) prescribe rules requiring the inclusion of the 
 certification described in 

section 13

    (t) of the Securities and 
 Exchange Act of 1934, as added by 

section 2, within the annual 
 reports filed on Form 10-K or any successor form;

    (2) establish requirements for public availability of such 
 certifications; and

    (3) promulgate any regulations necessary to carry out the 
 purposes of this Act and the amendments made by this Act.
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