RESPITE for Businesses Act

Bill: 118-s-3703
Sponsor: full_name: Sen. Hagerty, Bill [R-TN]
Introduced: 2024-01-31
Policy area: Finance and Financial Sector
Latest action: action_date: 2024-01-31
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2024-01-31
action_desc: Introduced in Senate
text: <p><strong>Rejecting Extremist Shareholder Proposals that Inhibit and Thwart Enterprise for Businesses Act or the RESPITE for Businesses Act</strong></p><p>This bill allows an issuer of securities to exclude a shareholder proposal from proxy statements despite whether the proposal relates to a significant social policy issue. Currently, an issuer may exclude a proposal if it deals with a matter relating to its ordinary business operations unless the proposal raises a significant social policy issue.&nbsp;</p>

tv_txt: II 118th CONGRESS 2d Session S. 3703 IN THE SENATE OF THE UNITED STATES January 31, 2024 Mr. Hagerty introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a–8(i) of title 17, Code of Federal Regulations, without regard to whether that proposal relates to a significant social policy issue.

1. Short title This Act may be cited as the Rejecting Extremist Shareholder Proposals that Inhibit and Thwart Enterprise for Businesses Act or the RESPITE for Businesses Act . 2. Exclusions available regardless of significant social policy issue An issuer may exclude a shareholder proposal pursuant to section 240.14a–8(i) of title 17, Code of Federal Regulations, or any successor regulation, without regard to whether that shareholder proposal relates to a significant social policy issue.