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United States · Bill · HR

H.R. 2795 (118th)

Enhancing Multi-Class Share Disclosures Act

referredUnited States· United States Congress· EN

Introduced

24 April 2023

Last action

31 May 2023 · Introduced

Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Rep. Meeks, Gregory W. [D-NY-5]

Subjects

Discovery layer

Source updated

27 May 2025

Official sourceDownload fileView documentsShare

Summary

Enhancing Multi-Class Share Disclosures Act This bill requires issuers of securities with multi-class share structures to disclose certain information in any proxy solicitation or consent solicitation material. A multi-class share structure occurs when a company issues two or more classes of shares that have different voting rights. For example, a company may issue one class of shares with no or few voting rights for the public, and another class with more voting rights for company founders and executives. Under the bill, the issuer must disclose certain information about each director, director nominee, named executive officer, and each beneficial owner of securities with 5% or more of the total combined voting power of all classes of securities entitled to vote in the election of directors. Specifically, the issuer must disclose (1) the number of shares of all classes of securities entitled to vote in the election of directors beneficially owned by such person, and (2) the amount of voting power held by such person.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 24 April 2023

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 24 April 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 24 April 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 26 April 2023

    Vote

    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 48 - 1.

    Source: Committee

  5. 26 April 2023

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 30 May 2023

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  7. 30 May 2023

    Vote

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 347 - 30 (Roll no. 239). (text: CR H2653)

    Source: Floor

  8. 30 May 2023

    Vote

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 347 - 30 (Roll no. 239). (text: CR H2653)

    Source: Floor

  9. 30 May 2023

    Floor

    Considered under suspension of the rules. (consideration: CR H2653-2654)

    Source: Floor

  10. 30 May 2023

    Vote

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

    Source: Floor

  11. 30 May 2023

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 2795.

    Source: Floor

  12. 30 May 2023

    Floor

    Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

    Source: Floor

  13. 30 May 2023

    Calendars

    Placed on the Union Calendar, Calendar No. 58.

    Source: Calendars

  14. 30 May 2023

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-79.

    Source: Committee

  15. 30 May 2023

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-79.

    Source: Committee

  16. 31 May 2023

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

Votes

30 May 2023 · passed · On Motion to Suspend the Rules and Pass, as Amended · Passed · Official source

Yes 347 · No 30 · Abstain — · Absent/not voting 58

Showing the first 4 recorded positions. Vote totals above are complete.

Versions

Documents

10 official files

Referred in Senate (text)

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  • Referred in Senate (text)

    Referred in Senate · EN · 31 May 2023

    ViewDownloadOpen at official source

  • Referred in Senate (PDF)

    Referred in Senate · EN · 31 May 2023

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  • Reported in House (text)

    Reported in House · EN · 30 May 2023

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  • Reported in House (PDF)

    Reported in House · EN · 30 May 2023

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  • Engrossed in House (text)

    Engrossed in House · EN · 30 May 2023

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 30 May 2023

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  • Passed House

    summary · EN · 30 May 2023

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  • Introduced in House (text)

    Introduced in House · EN · 24 April 2023

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  • Introduced in House (PDF)

    Introduced in House · EN · 24 April 2023

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  • Introduced in House

    summary · EN · 24 April 2023

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Sponsors

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Sources

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