# 119-hr-8265: Empowering Shareholders Act of 2026

119-hr-8265, Empowering Shareholders Act of 2026, is a 119th Congress bill sponsored by Rep. Huizenga, Bill [R-MI-4] (R-MI); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-8265
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-8265
- Congress: 119
- Title: Empowering Shareholders Act of 2026
- Status: introduced
- Introduced: 2026-04-14
- Sponsor: Rep. Huizenga, Bill [R-MI-4] (R-MI)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**New rules for how passively managed funds cast proxy votes** would require advisers to use one of four specific voting methods when they control a fund's proxy. The bill also creates a liability safe harbor, a foreign issuer exemption, and disclosure and delivery rules, and it would take effect one year after enactment. - Investment advisers would have to vote covered securities held by passively managed funds by following one of four options: follow the beneficial owner's instructions, follow the issuer board's recommendations, abstain while trying to be present for a quorum, or use Commission rules to mirror other shareholders' elections. Routine matters are excluded from this requirement. - Beneficial owners would get a form to pick a published voting policy and at least 5 business days to return it. Advisers may deliver these materials electronically via website or mobile app. - Advisers would be shielded from federal and state liability if they follow the listed voting methods. Foreign private issuers could be exempt if the adviser's voting policy for them is fully disclosed to investors.

## Provisions PRIA read

- New proxy rules for passive funds: mixed, medium. This bill would change how proxies are voted for passively managed funds. If enacted, an adviser with voting authority for a covered security would have to use one of four options for each non‑routine vote: follow the beneficial owner's instructions (including a selected published voting policy), f…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-4669: FEMA Act of 2025
- 119-hr-3633: Digital Asset Market Clarity Act
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-2570: Maximum Pressure Act
- 119-hr-6955: Main Street Capital Access Act

## Sources
- [119-hr-8265 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8265)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-3633: Digital Asset Market Clarity Act](https://policyrisk.com/legislation/119-hr-3633)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-2570: Maximum Pressure Act](https://policyrisk.com/legislation/119-hr-2570)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-8265 (as of 2026-09-21).