Accountable Capitalism Act
Sponsored By: Representative Luján, Ben Ray [D-NM]
Unknown
Summary
Accountable Capitalism Act This bill imposes various duties and limitations on companies and entities that qualify as large entities, including by: (1) imposing on such an entity a duty to create a general public benefit as articulated in its charter, (2) requiring a director of a large entity to balance the pecuniary interests of shareholders with the interests of persons materially affected by the entity, (3) restricting when officers and directors may sell certain securities related to the entity, and (4) requiring shareholder and director approval of the entity's political expenditures. The bill also establishes the Office of U.S. Corporations, which shall have various duties such as reviewing and granting charters for large entities.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Luján, Ben Ray [D-NM]
NM • D
Cosponsors
Rep. Boyle, Brendan F. [D-PA-2]
PA • D
Sponsored 12/13/2018
Rep. Lynch, Stephen F. [D-MA-8]
MA • D
Sponsored 12/13/2018
Rep. Pocan, Mark [D-WI-2]
WI • D
Sponsored 12/13/2018
Rep. Schakowsky, Janice D. [D-IL-9]
IL • D
Sponsored 12/13/2018
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov