Bill Sponsor
BILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 4645
118th Congress(2023-2024)
Empowering Shareholders Act of 2023
Introduced
Introduced
Introduced in House on Jul 14, 2023
Overview
Text
Introduced
Jul 14, 2023
Latest Action
Jul 14, 2023
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4645
Congress
118
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Bill Huizenga
Michigan
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Empowering Shareholders Act of 2023

This bill establishes guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes. Under the bill, these funds must (1) vote shares according to instructions from the beneficial owner of the securities, (2) vote shares according to the voting instructions of the issuer, or (3) abstain from voting.

The bill establishes an exemption for routine matters, such as an election to the board of directors. Additionally, the bill establishes a safe harbor from liability for investment advisers for (1) not soliciting voting instructions from beneficial owners, (2) voting shares according to the voting instructions of the issuer, or (3) abstaining from voting.

Text (1)
Introduced in House
July 14, 2023
Related Bills (1)
Jul 20, 2023
Introduced in House
1
Sponsorship
House Bill 4767
Protecting Americans’ Retirement Savings from Politics Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
07/14/2023
Referred to the House Committee on Financial Services.
07/14/2023
Introduced in House
Public Record
Record Updated
Apr 23, 2024 11:56:26 PM
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