S. 2700 · 118th Congress
INDEX Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SullivanSponsor14 cosponsors · 14 R
R
Crapo
JC
R
Cornyn
KC
R
Cramer
SD
R
Daines
CG
R
Grassley
CL
R
Lummis
MR
R
Rubio
RS
R
Scott
TT
R
Tillis
BH
R
Hagerty
BC
R
Cassidy
RM
R
Marshall
ML
R
Lee
JK
R
Kennedy9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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 generally must vote shares on a proportional basis according to instructions from fund investors.
What it does: CRS summary · Introduced in Senate · Jul 27, 2023
INvestor Democracy is EXpected Act or the INDEX Act
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 generally must vote shares on a proportional basis according to instructions from fund investors.
The bill establishes an exemption for routine matters and matters requiring approval of a majority of outstanding securities. Additionally, the bill establishes a safe harbor from these requirements for investment advisers.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: INDEX Act
Also known as: INvestor Democracy is EXpected Act
Latest action (Jul 27, 2023): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 27, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.