[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3272 Introduced in House (IH)]

  2d Session
                                H. R. 3272

   To amend the Securities Exchange Act of 1934 to require improved 
    disclosure of corporate charitable contributions, and for other 
                               purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 18, 1996

Mr. Gillmor (for himself, Mr. Fields of Texas, Mr. Boucher, Mr. Oxley, 
 Mr. Manton, and Mr. Stearns) introduced the following bill; which was 
                 referred to the Committee on Commerce

_______________________________________________________________________

                                 A BILL


 
   To amend the Securities Exchange Act of 1934 to require improved 
    disclosure of corporate charitable contributions, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CHARITABLE CONTRIBUTIONS.

    Section 14 of the Securities Exchange Act of 1934 (15 U.S.C. 78n) 
is amended by adding at the end thereof the following new subsection:
    ``(i) Disclosure of Charitable Contributions.--The statement or 
other disclosure documents accompanying any proxy, consent, or 
authorization solicited by or on behalf of the management of an issuer 
in respect of a security registered pursuant to section 12 of this 
title, or a security issued by an investment company registered under 
the Investment Company Act of 1940, prior to any annual or other 
meeting of the holders of such security, shall include a disclosure of 
the issuer's charitable contributions during the preceding fiscal year, 
including the identity of and the amount provided to each recipient of 
such contributions.''.
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