Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

Bill: 118-hjres-30
Sponsor: full_name: Rep. Barr, Andy [R-KY-6]
Introduced: 2023-02-07
Policy area: Labor and Employment
Subjects: Administrative law and regulatory procedures

Business ethics

Climate change and greenhouse gases

Congressional oversight

Department of Labor

Employee benefits and pensions

Financial services and investments
Latest action: action_date: 2023-03-23
text: The Chair directed the Clerk to notify the Senate of the action of the House.

Summaries:
action_date: 2023-02-07
action_desc: Introduced in House
text: <p>This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.</p> <p>Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.</p>

action_date: 2023-02-28
action_desc: Passed House
text: <p>This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.</p> <p>Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.</p>

action_date: 2023-03-01
action_desc: Passed Senate
text: <p>This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.</p> <p>Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.</p>

tv_txt: IIA 118th CONGRESS 1st Session H. J. RES. 30 IN THE SENATE OF THE UNITED STATES March 1, 2023 Received JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights .

That Congress disapproves the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (87 Fed. Reg. 73822 (December 1, 2022)), and such rule shall have no force or effect.

Passed the House of Representatives February 28, 2023. Cheryl L. Johnson, Clerk.

tv_txt: IA One Hundred Eighteenth Congress of the United States of America At the First Session Begun and held at the City of Washington on Tuesday, the third day of January, two thousand and twenty-three H. J. RES. 30 JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights .

That Congress disapproves the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (87 Fed. Reg. 73822 (December 1, 2022)), and such rule shall have no force or effect.

Speaker of the House of Representatives. Vice President of the United States and President of the Senate.

tv_txt: IA 118th CONGRESS 1st Session H. J. RES. 30 IN THE HOUSE OF REPRESENTATIVES JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights .

That Congress disapproves the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (87 Fed. Reg. 73822 (December 1, 2022)), and such rule shall have no force or effect.

Passed the House of Representatives February 28, 2023. Cheryl L. Johnson, Clerk.

tv_txt: IA 118th CONGRESS 1st Session H. J. RES. 30 IN THE HOUSE OF REPRESENTATIVES February 7, 2023 Mr. Barr (for himself, Mr. Newhouse , Mr. Finstad , Mr. Biggs , Mr. Steil , Mr. Posey , Mr. Duncan , Mr. Reschenthaler , Mr. Allen , Mr. Hill , Mr. Murphy , Mr. Huizenga , Mr. Meuser , Mrs. Rodgers of Washington , Mr. Luetkemeyer , Mr. Rose , Mr. Wenstrup , Ms. Foxx , Mr. LaTurner , Mr. Mooney , Mr. Bishop of North Carolina , Mr. Roy , Mr. Emmer , Mr. Ogles , Mr. Sessions , Mr. Davidson , Mr. Owens , Mr. Fitzgerald , Mr. Loudermilk , Ms. Van Duyne , Mr. Crawford , Mr. Weber of Texas , Mr. Tiffany , Mr. Stewart , Mr. Williams of Texas , Mr. Rutherford , Mr. Baird , Mr. Guest , Mr. Gooden of Texas , Mr. Arrington , Mr. Donalds , Mr. Nunn of Iowa , Mrs. Houchin , Mr. Zinke , Mr. Norman , Mrs. Wagner , Mr. Flood , Mrs. Cammack , Mr. Perry , Mr. Mann , Mr. Austin Scott of Georgia , Mr. Burchett , Mrs. Miller of West Virginia , Mr. Pfluger , Mr. Crenshaw , Mr. Lawler , Mr. McClintock , Mr. Ezell , Mr. Balderson , Mrs. Miller of Illinois , Mr. Moolenaar , Mr. DesJarlais , Mr. Scalise , Mr. Kustoff , Mr. Johnson of Louisiana , Mrs. Miller-Meeks , Mr. Good of Virginia , Mr. Joyce of Ohio , Mr. Armstrong , Mr. Moore of Utah , Mr. Aderholt , Mr. Carter of Georgia , Mr. Johnson of South Dakota , Ms. Stefanik , and Mr. Palmer ) submitted the following joint resolution; which was referred to the Committee on Education and the Workforce JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights .

That Congress disapproves the rule submitted by the Department of Labor relating to Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (87 Fed. Reg. 73822 (December 1, 2022)), and such rule shall have no force or effect.