On Oct. 13, the U.S. Department of Labor’s Office of Labor-Management Standards issued a proposed rule to provide additional information to labor organization members and the public about the financial activities of labor organizations under the Labor-Management Reporting and Disclosure Act of 1959.
According to a DOL news release, the proposal, officially titled Labor Organization Annual Financial Reports: LM Form Revisions, would revise Form LM-2, which labor organizations use to report their financial conditions and operations. Additionally, the proposal would introduce a new enhanced LM-2 Long Form for labor organizations with annual receipts of $8,000,000 or more.
Additional information on Form LM-2 and the LMRDA can be found on the DOL website.
The public can submit written comments on this proposed rule on or before Dec. 14, 2020. The ABC-led Coalition for a Democratic Workplace plans to submit comments on the DOL proposal.
ABC will continue to provide updates on this rulemaking in Newsline.