Private, no accountPrivacy details: browsing privately, no account needed
You're browsing privately, no account needed. Your region stays in this session and your precise location is never stored.What we store
H.R. 1187 · 117th CongressIn committee

Corporate Governance Improvement and Investor Protection Act

Latest action. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · June 17, 2021

Live record from Congress.gov, updated as the official record changes.
What this bill would do
Official summary · Congressional Research Service

Corporate Governance Improvement and Investor Protection Act

This bill requires publicly traded companies to periodically disclose information related to

environmental, social, and governance performance metrics;

expenditures for certain political activities;

compensation information regarding executive officers and employees;

climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets;

tax jurisdiction, income, and assets of constituent entities on a country-by-country basis;

workforce management policies, practices, and performance;

incidents of workplace harassment and retaliation;

cybersecurity;

the demographic composition of the board of directors and executive officers; and

manufacturing activity in China's Xinjiang Uyghur Autonomous Region.

The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments.

The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues.

The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics.

Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Passed House" stage on June 16, 2021. It describes the bill, it is not the legal text.

Status
Introduced
February 18, 2021
In committee
June 17, 2021
Passed a chamber
Cleared Congress
Enacted
Where this sits in the process
Common questions
Composed from the official record
Where is it in the process, and what happens next?

4 steps remain before this bill could become law.

The record's latest action, on June 17, 2021: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  1. Clearing the committees it was referred to, and being scheduled for a floor vote
  2. Passage by the House
  3. Passage by the Senate
  4. The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?

Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.

In the 117th Congress (2021-22), 362 of the 15,242 bills and joint resolutions introduced became law, about 2.4 percent. That count covers every measure at every stage, including the many that never left committee.

This one is not there yet: 4 steps are still outstanding, listed above.

Has anyone actually voted on it?

No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.

A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.

Who is behind it?

Juan Vargas (D-CA) introduced it on February 18, 2021, and 1 member has since signed on as a cosponsor.

They are 1 Democrat.

Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.

How long has it been in play?

It was introduced on February 18, 2021, 2030 days ago. The most recent recorded action was 1911 days ago, on June 17, 2021.

Measures do not carry over. Anything the 117th Congress has not finished by January 3, 2023 dies when the term ends, and has to be introduced again from the start in the next Congress.

Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.

Vote history

  1. House
    In committee, no floor vote yet
  2. Senate
    Awaits House passage
  3. President
    Awaits both chambers
No recorded votes yet
No roll call in this Congress cites this bill. Most bills die in committee without ever reaching a recorded floor vote.