119th Congress Finance and Financial Sector
S. 1670: INDEX Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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 generally must vote shares on a proportional basis according to instructions from fund investors.
The bill establishes an exemption for routine matters and matters requiring approval of a majority of outstanding securities. Additionally, the bill establishes a safe harbor from these requirements for investment advisers.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- John Cornyn R-TXOriginal
- Bill Cassidy R-LAOriginal
- Steve Daines R-MTOriginal
- Charles Grassley R-IAOriginal
- Bill Hagerty R-TNOriginal
- John Kennedy R-LAOriginal
- Rick Scott R-FLOriginal
- Thom Tillis R-NCOriginal
- Kevin Cramer R-ND
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Other bills by Dan Sullivan
History
- Introduced in the Senate by Dan Sullivan.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.