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Accountable Capitalism Act

Introduced: August 15, 2018 Introduced by: Warren, Elizabeth Democratic · Massachusetts 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
Aug 15, 2018
Read twice and referred to the Committee on Commerce, Science, and Transportation.
Aug 15, 2018
Introduced in Senate
 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 August 15, 2018

Read twice and referred to the Committee on Commerce, Science, and Transportation.

 Committees of jurisdiction 1