H.R. 3088 – Shareholder Protection Act of 2019

AI-Generated Summary

Updated April 14, 2026 at 5:59 AM UTC

The Shareholder Protection Act of 2019 directs the Securities and Exchange Commission to raise the percentage of a company's stock that shareholders must own in order to resubmit proposals. By increasing these thresholds, the bill makes it harder for smaller shareholders to repeatedly bring the same proposals to a company's agenda. The changes affect all publicly traded companies that receive shareholder proposals and the shareholders who wish to submit them.

Key Provisions

The SEC must change the rule that sets how many shares are needed to resubmit a shareholder proposal.
The required share ownership for a resubmission will be increased from 3% to 6%.
The required share ownership for a second‑level resubmission will be increased from 6% to 15%.
The required share ownership for a third‑level resubmission will be increased from 10% to 30%.

Legislative Activity

Stay on top of the latest movement without scrolling through every action

2 earlier actions

HouseFloor Latest Action

ASSUMING FIRST SPONSORSHIP - Mr. Steil asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 3088, a bill originally introduced by Representative Duffy, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

September 27, 2019 • 11:29 AM

View full timeline

HouseIntro Referral

Introduced in House

June 4, 2019

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

June 4, 2019

HouseFloor

ASSUMING FIRST SPONSORSHIP - Mr. Steil asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 3088, a bill originally introduced by Representative Duffy, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

September 27, 2019 • 11:29 AM

Bill Text

Latest available legislative text

Reading Mode

Raw Text PDF XML

Introduced in HouseIssued June 4, 2019

I

116th CONGRESS

1st Session

H. R. 3088

IN THE HOUSE OF REPRESENTATIVES

June 4, 2019

Mr. Duffy introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To require the Securities and Exchange Commission to adjust certain resubmission thresholds for shareholder proposals.

1.

Short title

This Act may be cited as the Shareholder Protection Act of 2019.

2.

Resubmission thresholds for shareholder proposals

The Securities and Exchange Commission shall revise section 240.14a–8(i)(12) of title 17, Code of Federal Regulations to—

(1)

in paragraph (i), adjust the 3 percent threshold to 6 percent;

(2)

in paragraph (ii), adjust the 6 percent threshold to 15 percent; and

(3)

in paragraph (iii), adjust the 10 percent threshold to 30 percent.