Shareholder Protection Act of 2019
Latest action. ASSUMING FIRST SPONSORSHIP - Mr. Steil asked unanimous consentDoing business by universal agreement instead of votes. Most Senate floor action happens this way, which is why a single objecting senator has real power.Read the full definition (opens a new tab) that he may hereafter be considered as the first sponsor of H.R. 3088, a bill originally introduced by Representative Duffy, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
Shareholder Protection Act of 2019
This bill directs the Securities and Exchange Commission to increase specified resubmission thresholds for shareholder proposals. (Current regulations allow the resubmission of a shareholder proposal that has been previously included in an issuer's proxy materials if, when the proposal was last included, it received a specified percentage of the vote; this percentage, which varies depending upon the number of times a proposal has been previously submitted, represents the minimum threshold at which resubmission is permissible.)
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on June 4, 2019. It describes the bill, it is not the legal text.
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 September 27, 2019: ASSUMING FIRST SPONSORSHIP - Mr. Steil asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 3088, a bill originally introduced by Representative Duffy, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- 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 116th Congress (2019-20), 344 of the 14,345 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?
Sean Duffy (R-WI) introduced it on June 4, 2019. No cosponsors are recorded.
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 June 4, 2019, 2655 days ago. The most recent recorded action was 2540 days ago, on September 27, 2019.
Measures do not carry over. Anything the 116th Congress has not finished by January 3, 2021 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
- HouseIntroduced, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers