I 
108TH CONGRESS 
1ST SESSION 
H. R. 275 
To amend the Securities and Exchange Act of 1934 to require improved 
disclosure of corporate charitable contributions, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 8, 2003 
Mr. GILLMOR (for himself and Mr. TIBERI) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To amend the Securities and Exchange Act of 1934 to re-
quire improved disclosure of corporate charitable con-
tributions, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘ Corporate Charitable 
Disclosure Act of 2003’’. 
SEC. 2. DISCLOSURE OF CHARITABLE CONTRIBUTIONS. 
Section 14 of the Securities and Exchange Act of 
1934 (15 U.S.C. 78n) is amended by adding at the end 
thereof the following new subsection:
‘‘(i) DISCLOSURE OF CHARITABLE CONTRIBU-
TIONS.— 
‘‘(1) DISCLOSURES REQUIRED.— 
‘‘(A) SUBSTANTIAL CONTRIBUTIONS TO IN-
SIDER-AFFILIATED
CHARITIES.—The 
state-
ments or documents described in subparagraph 
(B) shall include— 
‘‘(i) a disclosure of contributions 
whose value exceeds the designated amount 
that were made by the issuer during the 
issuer’s previous year to any nonprofit or-
ganization of which a director, officer, or 
controlling person of the issuer, or a 
spouse thereof, was a director or trustee; 
and 
‘‘(ii) the name of such nonprofit orga-
nization and the value of the contribution. 
‘‘(B) STATEMENTS AND DOCUMENTS COV-
ERED.—The requirements of subparagraph (A) 
apply to— 
‘‘(i) the proxy statement or other doc-
uments accompanying any proxy, consent, 
or authorization solicited by or on behalf of 
the management of an issuer in respect of 
a security registered pursuant to section
12 of this title, or a security issued by an 
investment company registered under the 
Investment Company Act of 1940, prior to 
any annual meeting of the holders of such 
security; or 
‘‘(ii) if proxies, consents, or authoriza-
tions are not solicited by the management 
in respect of the annual meeting, the writ-
ten information statement distributed in 
connection therewith. 
‘‘(2) ANNUAL STATEMENTS REQUIRED.—Every 
issuer with a security registered pursuant to section 
12 of this title, or a security issued by an investment 
company registered under the Investment Company 
Act of 1940, shall annually make available, in a for-
mat designated by the Commission, the total value 
of contributions made by the issuer to nonprofit or-
ganizations during its previous fiscal year, and, if 
the value of contributions to any organization ex-
ceeds the designated amount, the name of that orga-
nization and the value of contributions. 
‘‘(3) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) the term ‘designated amount’ means 
such amount as may be designated by the Com-
mission by rule, consistent with the public in-
terest and the protection of investors for pur-
poses of this subsection; and 
‘‘(B) the Commission may, by such rules 
as it deems necessary or appropriate in the 
public interest, define the terms executive offi-
cer and controlling person.’’. 
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