To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.
Encouraging Employee Ownership Act of 2017
(Sec. 2) This bill requires the Securities and Exchange Commission to increase, from $5 million to $10 million, the 12-month sales threshold beyond which an issuer is required to provide investors with additional disclosures related to compensatory benefit plans.
Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
Became Public Law No: 115-174.
Motion to reconsider laid on the table Agreed to without objection.
Message on House action received in Senate and at desk: House amendments to Senate bill.
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 48 - 11.
Reported by the Committee on Financial Services. H. Rept. 115-71.
Reported by the Committee on Financial Services. H. Rept. 115-71.
Placed on the Union Calendar, Calendar No. 42.
Rules Committee Resolution H. Res. 240 Reported to House. Rule provides for consideration of H.R. 1343 with 1 hour of general debate. Motion to recommit with or without instructions allowed.
Rule H. Res. 240 passed House.
Considered under the provisions of rule H. Res. 240. (consideration: CR H2667-2678)
Rule provides for consideration of H.R. 1343 with 1 hour of general debate. Motion to recommit with or without instructions allowed.
DEBATE - The House proceeded with one hour of debate on H.R. 1343.
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DEBATE - Pursuant to the provisions of H.Res. 240, the House proceeded with 10 minutes of debate on the Polis amendment.
Mr. Swalwell (CA) moved to recommit with instructions to the Committee on Financial Services. (text: CR H2675)
DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add a section to prohibit any exemption to an issuer if the issuer or affiliate of the issuer has withheld information from Congress relevant to its investigation of any collusion between persons associated with the Russian Government and persons associated with a presidential campaign.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by the Yeas and Nays: 185 - 228 (Roll no. 215).
Roll Call #215 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 331 - 87 (Roll no. 216).(text of amendment in the nature of a substitute: CR H2667)
Roll Call #216 (House)On passage Passed by the Yeas and Nays: 331 - 87 (Roll no. 216). (text of amendment in the nature of a substitute: CR H2667)
Roll Call #216 (House)Motion 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.