Enhancing Multi-Class Share Disclosures Act

referredUnited States· United States Congress· EN

Introduced

13 May 2025

Last action

24 July 2025 · Introduced

Status

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

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.

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Timeline

13 May 2025
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
13 May 2025
Introduced
Introduced in House
Source: IntroReferral
13 May 2025
Introduced
Introduced in House
Source: IntroReferral
20 May 2025
Vote
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
Source: Committee
20 May 2025
Committee
Committee Consideration and Mark-up Session Held
Source: Committee
3 June 2025
Calendars
Placed on the Union Calendar, Calendar No. 90.
Source: Calendars
3 June 2025
Reported
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
Source: Committee
3 June 2025
Reported
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
Source: Committee
21 July 2025
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
21 July 2025
Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 3357.
Source: Floor
21 July 2025
Floor
Considered under suspension of the rules. (consideration: CR H3508)
Source: Floor
21 July 2025
Floor
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Source: Floor
23 July 2025
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
23 July 2025
Vote
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 381 - 31 (Roll no. 217). (text: 07/21/2025 CR H3508)
Source: Floor
23 July 2025
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): 381 - 31 (Roll no. 217). (text: 07/21/2025 CR H3508)
Source: Floor
23 July 2025
Floor
Considered as unfinished business. (consideration: CR H3621-3622)
Source: Floor
24 July 2025
Introduced
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral

Votes

23 July 2025 · passed · On Motion to Suspend the Rules and Pass, as Amended · Passed · Official source

Yes 381 · No 31 · Abstain — · Absent/not voting 18

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

Versions

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Documents

5 official files

Referred in Senate

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Referred in Senate
Referred in Senate · EN · 24 July 2025
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Engrossed in House
Engrossed in House · EN · 23 July 2025
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Reported in House
Reported in House · EN · 3 June 2025
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Introduced in House
Introduced in House · EN · 13 May 2025
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Introduced in House
summary · EN · 13 May 2025
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Related records

related to ← Enhancing Multi-Class Share Disclosures Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/119th-congress/house-bill/3357
Open data entity: https://api.congress.gov/v3/bill/119/hr/3357
us · 119-hr-3357 · source updated 18 July 2026