118th Congress · HOUSE BILLBILL

H.R. 4655Businesses Over Activists Act

To amend the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission from compelling the inclusion or discussion of shareholder proposals or proxy or consent solicitation materials, and for other purposes.

Finance and financial sector
Introduced Jul 14, 2023
Last action Dec 19, 2023
Pipeline · Bill → Law
Step 1
Introduced
Jul 14, 2023
Step 2
Referred
Jul 14, 2023
Financial Services
Step 3
Committee
Jul 27, 2023
Reported out
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill prohibits the Securities and Exchange Commission (SEC) from compelling a publicly traded company to include a shareholder proposal or a discussion of a proposal in a proxy statement. Under current SEC rules, certain qualifying shareholder proposals must be included on a company's proxy statement. Proxy statements are provided to shareholders before shareholder meetings and contain disclosures required by the SEC.

Provisions · 2 sectionsReported to House
Timeline · 6 actions
Dec 19, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-326.
Dec 19, 2023
Placed on the Union Calendar, Calendar No. 265.
Jul 27, 2023
Committee Consideration and Mark-up Session Held
Jul 27, 2023
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 21.
Jul 14, 2023
Introduced in House
Jul 14, 2023
Referred to the House Committee on Financial Services.