Accountable Capitalism Act
Latest action · Aug 15, 2018 Read twice and referred to the Committee on Commerce, Science, and Transportation.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 15, 2018
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Accountable Capitalism Act
This bill imposes various duties and limitations on companies and entities that qualify as large entities, including by: (1) imposing on such an entity a duty to create a general public benefit as articulated in its charter, (2) requiring a director of a large entity to balance the pecuniary interests of shareholders with the interests of persons materially affected by the entity, (3) restricting when officers and directors may sell certain securities related to the entity, and (4) requiring shareholder and director approval of the entity's political expenditures. The bill also establishes the Office of U.S. Corporations, which shall have various duties such as reviewing and granting charters for large entities.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Aug 15, 2018Introduced in Senate
- Aug 15, 2018Read twice and referred to the Committee on Commerce, Science, and Transportation.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7294 | Accountable Capitalism Act | Identical bill | Dec 13, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Administrative law and regulatory procedures
- Business ethics
- Civil actions and liability
- Commerce
- Corporate finance and management
- Department of Commerce
- Elections, voting, political campaign regulation
- Executive agency funding and structure
- Federal officials
- Political advertising
- Securities and Exchange Commission (SEC)
- State and local government operations
- Tax administration and collection, taxpayers
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Aug 15, 2018Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.