S 2700
118th Congress
Senate
Finance and Financial Sector
INDEX Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2023
Introduced in Senate
Plain-English summary
INvestor Democracy is EXpected Act or the INDEX Act
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 generally must vote shares on a proportional basis according to instructions from fund investors.
The bill establishes an exemption for routine matters and matters requiring approval of a majority of outstanding securities. Additionally, the bill establishes a safe harbor from these requirements for investment advisers.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1