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H.R. 4657 118th Congress House

To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a…

Official title: To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to wheth… Show full official titleShow less

Official title: To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue.

Introduced: July 14, 2023 Introduced by: John W. Rose Republican · Tennessee See on congress.gov
Finance and Financial Sector
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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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 Latest action July 14, 2023

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

This bill allows an issuer of securities to exclude a shareholder proposal from proxy statements despite the proposal relating to a significant social policy issue. Currently, an issuer may exclude a proposal if it deals with a matter relating to its ordinary business operations unless the proposal raises a significant social policy issue. 

 Related & companion bills 1
  • HR 4767 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. 4657: To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue.. 118th Congress. Open America. https://openamerica.io/bill/118-HR-4657/
MLA
"H.R. 4657: To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue.." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-4657/.
Bluebook (legal)
H.R. 4657, 118th Cong. (2026), https://openamerica.io/bill/118-HR-4657/.
Markdown link
[H.R. 4657: To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue.](https://openamerica.io/bill/118-HR-4657/)
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