This bill mandates the Securities and Exchange Commission to amend its rule 240.14a-8, concerning shareholder proposals, within 180 days of enactment. A key provision redefines "material" when qualifying financial risk or return, specifying that it must involve a substantial likelihood of importance to a reasonable investor for evaluating financial aspects. This definition explicitly excludes furthering nonpecuniary, environmental, social, political, or ideological goals , as well as highly uncertain, systemic, or non-investment-specific events. Under the proposed amendments, companies would be required to include a limited number of shareholder proposals on their proxy cards, with the maximum varying by filer status: two for non-accelerated filers, four for accelerated filers, and seven for large accelerated filers. A fundamental condition for inclusion is that a proposal must have a material effect on the financial performance of the company. Companies retain discretion in selecting which eligible proposals to include, and the order of submission does not influence this decision.