S 2700 118th Congress Senate Finance and Financial Sector

INDEX Act

Introduced: July 27, 2023 Introduced by: Sullivan, Dan Republican · Alaska See on congress.gov

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

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Plain-English summary Congressional Research Service

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 July 27, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill text 1 version