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HR 4645 118th Congress House Finance and Financial Sector

Empowering Shareholders Act of 2023

Introduced: July 14, 2023 Introduced by: Huizenga, Bill Republican · Michigan See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 2023
Referred to the House Committee on Financial Services.
Jul 14, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

Empowering Shareholders Act of 2023

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 must (1) vote shares according to instructions from the beneficial owner of the securities, (2) vote shares according to the voting instructions of the issuer, or (3) abstain from voting.

The bill establishes an exemption for routine matters, such as an election to the board of directors. Additionally, the bill establishes a safe harbor from liability for investment advisers for (1) not soliciting voting instructions from beneficial owners, (2) voting shares according to the voting instructions of the issuer, or (3) abstaining from voting.

What's happening now July 14, 2023

Referred to the House Committee on Financial Services.

 Related & companion bills 1
  • HR 4767 Related bill Protecting Americans’ Retirement Savings from Politics Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 4645: Empowering Shareholders Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-4645/
MLA
"H.R. 4645: Empowering Shareholders Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-4645/.
Bluebook (legal)
H.R. 4645, 118th Cong. (2026), https://openamerica.io/bill/118-HR-4645/.
Markdown link
[H.R. 4645: Empowering Shareholders Act of 2023](https://openamerica.io/bill/118-HR-4645/)
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