H.R. 7294 · 115th Congress
Accountable Capitalism Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LujánSponsor4 cosponsors · 4 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill imposes various duties and limitations on companies and entities that qualify as large entities, including by: (1) imposing on such an entity a duty to create a general public benefit as articulated in its charter, (2) requiring a director of a large entity to balance the pecuniary interests of shareholders with the interests of persons materially…
What it does: CRS summary · Introduced in House · Dec 13, 2018
Accountable Capitalism Act
This bill imposes various duties and limitations on companies and entities that qualify as large entities, including by: (1) imposing on such an entity a duty to create a general public benefit as articulated in its charter, (2) requiring a director of a large entity to balance the pecuniary interests of shareholders with the interests of persons materially affected by the entity, (3) restricting when officers and directors may sell certain securities related to the entity, and (4) requiring shareholder and director approval of the entity's political expenditures. The bill also establishes the Office of U.S. Corporations, which shall have various duties such as reviewing and granting charters for large entities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Accountable Capitalism Act
Latest action (Dec 13, 2018): Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Financial Services, House Administration, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Commerce · Origin: House · Introduced: Dec 13, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.