US HB4491 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on September 25 2019 - 25% progression, died in committee
Action: 2019-09-25 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 25 2019 - 25% progression, died in committee
Action: 2019-09-25 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requires shareholder authorization of certain political expenditures by an issuer. A violation of this requirement shall be considered a breach of fiduciary duty, and the officers and directors who authorized the expenditure shall be subject to joint and several liability. An issuer must require a board vote with respect to political expenditures in excess of $50,000 and, within 48 hours, make publicly available the individual votes of each board member.
Title
Shareholder Protection Act
Sponsors
| Rep. Tom Malinowski [D-NJ] | Rep. Emanuel Cleaver [D-MO] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-09-25 | House | Referred to the House Committee on Financial Services. |
| 2019-09-25 | House | Introduced in House |
Same As/Similar To
SB1630 (Related) 2019-05-23 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB5929 (Related) 2020-12-08 - Placed on the Union Calendar, Calendar No. 517.
HB5929 (Related) 2020-12-08 - Placed on the Union Calendar, Calendar No. 517.
Subjects
Administrative law and regulatory procedures
Civil actions and liability
Congressional oversight
Corporate finance and management
Elections, voting, political campaign regulation
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
Civil actions and liability
Congressional oversight
Corporate finance and management
Elections, voting, political campaign regulation
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/4491/all-info |
| Text | https://www.congress.gov/116/bills/hr4491/BILLS-116hr4491ih.pdf |
