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Rules for excluding shareholder proposals on social policy

This bill clarifies 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. The Act is also cited as the 'RESPITE for Businesses Act,' referring to the rejection of shareholder proposals deemed extremist.
Key points
Issuers may exclude shareholder proposals regardless of whether they relate to a significant social policy issue.
The bill clarifies the application of regulations under section 240.14a-8(i) of the Code of Federal Regulations.
The full title of the Act indicates an intent to reject shareholder proposals that inhibit enterprise.
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Expired
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Additional Information
Print number: 118_S_3703
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2024-01-31
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OFFICIAL LEGAL TITLE

RESPITE for Businesses Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3703.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-01-31.

What are the main provisions?

Key points include:

  • Issuers may exclude shareholder proposals regardless of whether they relate to a significant social policy issue.
  • The bill clarifies the application of regulations under section 240.14a-8(i) of the Code of Federal Regulations.
  • The full title of the Act indicates an intent to reject shareholder proposals that inhibit enterprise.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy