Corporate Governance Improvement and Investor Protection Act
USA117th CongressHR-1187| House
| Updated: 6/17/2021
Juan Vargas
Democratic Representative
California
Cosponsors (1)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Corporate Governance Improvement and Investor Protection Act This bill requires publicly traded companies to periodically disclose information related to environmental, social, and governance performance metrics; expenditures for certain political activities; compensation information regarding executive officers and employees; climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets; tax jurisdiction, income, and assets of constituent entities on a country-by-country basis; workforce management policies, practices, and performance; incidents of workplace harassment and retaliation; cybersecurity; the demographic composition of the board of directors and executive officers; and manufacturing activity in China's Xinjiang Uyghur Autonomous Region. The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments. The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues. The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 22.
Placed on the Union Calendar, Calendar No. 37.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-54.
Rules Committee Resolution H. Res. 473 Reported to House. Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.
Rule H. Res. 473 passed House.
Considered under the provisions of rule H. Res. 473. (consideration: CR H2830-2855; text: CR H2830-2834)
Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.
DEBATE - The House proceeded with one hour of debate on H.R. 1187.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Burgess amendment No. 1.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Burgess amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Burgess demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 20 minutes of debate on the Waters amendment en bloc No. 1.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment en bloc, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Hill amendment No. 4.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Hill amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hill demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Schrier amendment No. 8.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Schrier amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Plaskett amendment No. 10.
POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX further proceedings on H.R. 1187 were postponed.
Pursuant to clause 1(c) of rule XIX, the House resumed consideration of H.R. 1187.
Considered as unfinished business. (consideration: CR H2859-2863)
UNFINISHED BUSINESS - The Chair announced that the unfinished business was on agreeing to amendments which were debated earlier and on which previous questions were postponed.
Motion to reconsider laid on the table. Agreed to without objection.
The previous question was ordered pursuant to the rule.
Mr. Barr moved to recommit to the Committee on Financial Services. (text: CR H2862)
The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
On motion to recommit Failed by the Yeas and Nays: 207 - 218 (Roll no. 168).
View VoteOn passage Passed by the Yeas and Nays: 215 - 214 (Roll no. 169).
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Administrative law and regulatory proceduresAdministrative remediesAdvisory bodiesAir qualityAlternative and renewable resourcesAsiaAssault and harassment offensesAtmospheric science and weatherBusiness ethicsBusiness investment and capitalBusiness recordsChinaClimate change and greenhouse gasesCoalComputer security and identity theftCongressional oversightContracts and agencyCorporate finance and managementDetention of personsElections, voting, political campaign regulationEmployee benefits and pensionsEmployee hiringEmployment and training programsEmployment discrimination and employee rightsEnvironmental assessment, monitoring, researchFinancial services and investmentsFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsHuman rightsLabor-management relationsLabor marketLabor standardsManufacturingMinority employmentOil and gasRacial and ethnic relationsReligionSecuritiesSecurities and Exchange Commission (SEC)Self-employedSex offensesSmall businessTax administration and collection, taxpayersTaxation of foreign incomeTemporary and part-time employmentUnemploymentWages and earningsWomen's employmentWorker safety and health
Corporate Governance Improvement and Investor Protection Act
USA117th CongressHR-1187| House
| Updated: 6/17/2021
Corporate Governance Improvement and Investor Protection Act This bill requires publicly traded companies to periodically disclose information related to environmental, social, and governance performance metrics; expenditures for certain political activities; compensation information regarding executive officers and employees; climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets; tax jurisdiction, income, and assets of constituent entities on a country-by-country basis; workforce management policies, practices, and performance; incidents of workplace harassment and retaliation; cybersecurity; the demographic composition of the board of directors and executive officers; and manufacturing activity in China's Xinjiang Uyghur Autonomous Region. The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments. The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues. The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 22.
Placed on the Union Calendar, Calendar No. 37.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-54.
Rules Committee Resolution H. Res. 473 Reported to House. Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.
Rule H. Res. 473 passed House.
Considered under the provisions of rule H. Res. 473. (consideration: CR H2830-2855; text: CR H2830-2834)
Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.
DEBATE - The House proceeded with one hour of debate on H.R. 1187.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Burgess amendment No. 1.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Burgess amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Burgess demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 20 minutes of debate on the Waters amendment en bloc No. 1.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment en bloc, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Hill amendment No. 4.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Hill amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hill demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Schrier amendment No. 8.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Schrier amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Plaskett amendment No. 10.
POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX further proceedings on H.R. 1187 were postponed.
Pursuant to clause 1(c) of rule XIX, the House resumed consideration of H.R. 1187.
Considered as unfinished business. (consideration: CR H2859-2863)
UNFINISHED BUSINESS - The Chair announced that the unfinished business was on agreeing to amendments which were debated earlier and on which previous questions were postponed.
Motion to reconsider laid on the table. Agreed to without objection.
The previous question was ordered pursuant to the rule.
Mr. Barr moved to recommit to the Committee on Financial Services. (text: CR H2862)
The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
On motion to recommit Failed by the Yeas and Nays: 207 - 218 (Roll no. 168).
View VoteOn passage Passed by the Yeas and Nays: 215 - 214 (Roll no. 169).
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Juan Vargas
Democratic Representative
California
Cosponsors (1)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
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- HR 117-2570: Climate Risk Disclosure Act of 2021
- HR 117-2072: Uyghur Forced Labor Disclosure Act
- S 117-1815: Workforce Investment Disclosure Act of 2021
- HRES 117-473: Providing for consideration of the bill (H.R. 256) to repeal the Authorization for Use of Military Force Against Iraq Resolution of 2002; providing for consideration of the bill (H.R. 1187) to provide for disclosure of additional material information about public companies and establish a Sustainable Finance Advisory Committee, and for other purposes; and for other purposes.
- S 117-374: Improving Corporate Governance Through Diversity Act of 2021
- HR 117-1277: Improving Corporate Governance Through Diversity Act of 2021
- HR 117-1087: Shareholder Political Transparency Act of 2021
- HR 117-1188: Greater Accountability in Pay Act of 2021
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresAdministrative remediesAdvisory bodiesAir qualityAlternative and renewable resourcesAsiaAssault and harassment offensesAtmospheric science and weatherBusiness ethicsBusiness investment and capitalBusiness recordsChinaClimate change and greenhouse gasesCoalComputer security and identity theftCongressional oversightContracts and agencyCorporate finance and managementDetention of personsElections, voting, political campaign regulationEmployee benefits and pensionsEmployee hiringEmployment and training programsEmployment discrimination and employee rightsEnvironmental assessment, monitoring, researchFinancial services and investmentsFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsHuman rightsLabor-management relationsLabor marketLabor standardsManufacturingMinority employmentOil and gasRacial and ethnic relationsReligionSecuritiesSecurities and Exchange Commission (SEC)Self-employedSex offensesSmall businessTax administration and collection, taxpayersTaxation of foreign incomeTemporary and part-time employmentUnemploymentWages and earningsWomen's employmentWorker safety and health