S 530
117th Congress
Senate
Finance and Financial Sector
Administrative law and regulatory procedures
Corporate finance and management
Elections, voting, political campaign regulation
Political advertising
Securities
Securities and Exchange Commission (SEC)
Shareholder Protection Act of 2021
Introduced: March 2, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 2, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 2, 2021
Introduced in Senate
Plain-English summary
Shareholder Protection Act of 2021
This bill requires shareholder authorization of certain political expenditures by a publicly traded company. A violation of this requirement is considered a breach of fiduciary duty, and the officers and directors who authorized the expenditure are subject to joint and several liability. A publicly traded company must require a board vote with respect to political expenditures in excess of $50,000 and, within 48 hours, make publicly available the individual votes of each board member.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1