<?xml version="1.0" encoding="UTF-8"?><BillSummaries>
<item congress="115" measure-type="hr" measure-number="7294" measure-id="id115hr7294" originChamber="HOUSE" orig-publish-date="2018-12-13" update-date="2019-08-16">
<title>Accountable Capitalism Act</title>
<summary summary-id="id115hr7294v00" currentChamber="HOUSE" update-date="2019-08-16">
<action-date>2018-12-13</action-date>
<action-desc>Introduced in House</action-desc>
<summary-text><![CDATA[<p><b>Accountable Capitalism Act</b></p> <p>This bill imposes various duties and limitations on companies and entities that qualify as large entities, including by: (1) imposing on&nbsp;such an entity a duty to create a general public benefit as articulated in&nbsp;its charter, (2) requiring a director of a large entity&nbsp;to balance the pecuniary interests of shareholders with the interests of persons materially affected by the entity, (3) restricting when officers and directors may sell certain securities related to the entity, and (4) requiring shareholder and director approval of&nbsp;the entity's political expenditures. The bill also establishes the Office of U.S. Corporations, which shall have various duties such as reviewing and granting charters for large entities. </p>]]></summary-text>
</summary>
</item>
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<dc:language>EN</dc:language>
<dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
<dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
<dc:description>This file contains bill summaries for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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</BillSummaries>
