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Accountable Capitalism Act

Introduced: December 13, 2018 Introduced by: Luján, Ben Ray Democratic · New Mexico See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
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.
Dec 13, 2018
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now December 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.

 Committees of jurisdiction 5
 Cosponsors 4
All 4 Democratic 4