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Empowering Shareholders Act of 2023

H.R. 4645 Rep. Bill Huizenga (R-MI-4) In committee
Bill text PDF
  1. Introduced Jul 14
  2. Committee Jul 14
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Jul 14, 2023Next: House vote
1202d ago Jul 14, 2023: Referred to the House Committee on Financial Services.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
1company, 1 filing
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Summary

Empowering Shareholders Act of 2023

Full summary2 paragraphs

This bill establishes guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes. Under the bill, these funds must (1) vote shares according to instructions from the beneficial owner of the securities, (2) vote shares according to the voting instructions of the issuer, or (3) abstain from voting.

The bill establishes an exemption for routine matters, such as an election to the board of directors. Additionally, the bill establishes a safe harbor from liability for investment advisers for (1) not soliciting voting instructions from beneficial owners, (2) voting shares according to the voting instructions of the issuer, or (3) abstaining from voting.

Library of Congress summary, Jul 14, 2023

Summary versions
  • Introduced in HouseJul 14, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.