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Bills
House Bill 4790
118th Congress(2023-2024)
Prioritizing Economic Growth Over Woke Policies Act
Active
Amendments
Active
Passed House on Sep 19, 2024
Overview
Text
Introduced
Jul 20, 2023
Latest Action
Sep 23, 2024
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
4790
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
Republican
Frank Lucas
Oklahoma
Republican
Dan Meuser
Pennsylvania
Republican
Alex Mooney
West Virginia
House Votes (2)
Senate Votes (0)
Question
On Passage
Status
Passed
Type
Roll Call Vote
Roll Call Vote
A vote that records the individual position of each Member who voted. Such votes occurring on the House floor (by the "yeas and nays" or by "recorded vote") are taken by electronic device. The Senate has no electronic voting system; in such votes, Senators answer "yea" or "nay" as the clerk calls each name aloud. Each vote is compiled by clerks and receives a roll call number (referenced in Congress.gov as a "Record Vote" [Senate] or "Roll no." [House]).
Roll Call Type
Yea-And-Nay
Roll Number
435
House Roll Call Votes
Summary

Guiding Uniform and Responsible Disclosure Requirements and Information Limits Act of 2023 or the GUARDRAIL Act of 2023

This bill limits the disclosures required by issuers of securities as a result of a rulemaking and establishes the Public Company Advisory Committee.

First, the bill requires the Securities and Exchange Commission (SEC) to limit issuer disclosure requirements made in a rulemaking. Specifically, the SEC must provide that an issuer of securities is only required to disclose information in response to a rulemaking if the issuer determines that this information is material with respect to a voting or investment decision regarding the issuer’s securities.

The bill also requires the SEC to report on its website each required disclosure of nonmaterial information under current federal securities laws and regulations and a justification for the disclosure. The SEC must report this information to Congress every five years. The bill also establishes that a person's failure to disclose such nonmaterial information is not a liability in a private action.

Further, the bill establishes the Public Company Advisory Committee within the SEC. The committee must advise the SEC on regulatory priorities, public reporting and corporate governance of public companies, shareholder meetings and the proxy process, and other topics. The committee must be comprised of individuals who are officials of public companies, have senior managerial responsibility in associations that represent the interests of public companies, or provide professional advice and services to public companies.  

Finally, the bill requires the SEC to report on the effects of the European Union's directives on corporate sustainability, particularly on U.S. companies, consumers, and investors.  

Text (4)
Referred in Senate
September 23, 2024
Engrossed in House
September 19, 2024
Reported in House
December 22, 2023
Introduced in House
July 20, 2023
Amendments (1)
Displaying only amendments with a detailed public record (0)
Related Bills (9)
Sep 19, 2024
Passed House
4
Sponsorship
House Bill 4790
Prioritizing Economic Growth Over Woke Policies Act
Active
Amendments
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
Sep 18, 2024
Passed House
1
Sponsorship
House Simple Resolution 1455
Providing for consideration of the bill (H.R. 3724) to amend the Higher Education Act of 1965 to prohibit recognized accrediting agencies and associations from requiring, encouraging, or coercing institutions of higher education to meet any political litmus test or violate any right protected by the Constitution as a condition of accreditation; providing for consideration of the bill (H.R. 4790) to amend the Federal securities laws with respect to the materiality of disclosure requirements, to establish the Public Company Advisory Committee, and for other purposes; providing for consideration of the bill (H.R. 5179) to require the maintenance of the country of origin markings for imported goods produced in the West Bank or Gaza, and for other purposes; providing for consideration of the bill (H.R. 5339) to amend the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes; providing for consideration of the bill (H.R. 5717) to provide that sanctuary jurisdictions that provide benefits to aliens who are present in the United States without lawful status under the immigration laws are ineligible for Federal funds intended to benefit such aliens; providing for consideration of the bill (H.R. 7909) to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed sex offenses or domestic violence are inadmissible and deportable; and providing for consideration of the joint resolution (H.J. Res. 136) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles".
Active
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
House
Type
Procedurally-Related Measure
Procedurally-Related Measure
Legislation that affects consideration of other legislation (e.g., a rule for consideration, a bill ordered to be reported or passed in lieu of another measure). Identical bills, companion measures, and legislation with text similarities are other related bill types.
Identified By
House
Jul 24, 2023
Introduced in House
4
Sponsorship
House Bill 4823
American FIRST Act of 2023
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
Jul 14, 2023
Introduced in House
1
Sponsorship
House Bill 4652
Public Company Advisory Committee Act of 2023
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
Jul 14, 2023
Introduced in House
2
Sponsorship
House Bill 4653
Protecting U.S. Business Sovereignty 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
Jul 13, 2023
Introduced in House
1
Sponsorship
House Bill 4628
To amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to disclose and report on non-material disclosure mandates, and for other purposes.
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
Jul 13, 2023
Introduced in House
1
Sponsorship
House Bill 4625
Protecting U.S. Business Sovereignty 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
Jul 13, 2023
Introduced in House
1
Sponsorship
House Bill 4600
Protecting Retail Investors’ Savings 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
Jul 12, 2023
Introduced in House
1
Sponsorship
House Bill 4589
To amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms, and for other purposes.
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 (20)
09/23/2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
09/19/2024
Motion to reconsider laid on the table Agreed to without objection.
09/19/2024
On passage Passed by the Yeas and Nays: 215 - 203, 1 Present (Roll no. 435). (text of amendment in the nature of a substitute: CR H5477-5486)
09/19/2024
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 215 - 203, 1 Present (Roll no. 435). (text of amendment in the nature of a substitute: CR H5477-5486)
09/19/2024
On motion to recommit Failed by the Yeas and Nays: 206 - 211 (Roll no. 434).
09/19/2024
Considered as unfinished business. (consideration: CR H5496-5498)
09/19/2024
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 4790, the Chair put the question on the motion to recommit and by voice vote, announced that the ayes had prevailed. Mr. Huizenga demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
09/19/2024
The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
09/19/2024
Mr. Casten moved to recommit to the Committee on Financial Services. (text: CR H5494)
09/19/2024
The previous question was ordered pursuant to the rule.
09/19/2024
DEBATE - The House proceeded with one hour of debate on H.R. 4790.
09/19/2024
Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
09/19/2024
Considered under the provisions of rule H. Res. 1455. (consideration: CR H5477-5494)
09/17/2024
Rules Committee Resolution H. Res. 1455 Reported to House. Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
12/22/2023
Placed on the Union Calendar, Calendar No. 275.
12/22/2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-336.
07/27/2023
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 21.
07/27/2023
Committee Consideration and Mark-up Session Held
07/20/2023
Referred to the House Committee on Financial Services.
07/20/2023
Introduced in House
Public Record
Record Updated
Sep 25, 2024 4:52:20 PM
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