The Outsourcing Accountability Act of 2012 was introduced on February 1, 2012 and proposes to amend §13 of the Securities Exchange Act of 1934. It will require that each issuer file annual reports with the Securities and Exchange Commission disclosing to the Commission and shareholders the total number of employees in the United States, the total number in each state, and the total number physically working in any country other than the United States. New public companies will be exempted for the first five years. Companies with annual gross revenue of less than $1,000,000,000 (one billion dollars) will not need to report.
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