H.R. 3624House116th Congress (2019-2021)Passed House

Outsourcing Accountability Act of 2019

AI-Generated Summary

Updated April 14, 2026 at 6:59 AM UTC

The Outsourcing Accountability Act of 2019 amends the Securities Exchange Act of 1934 to make certain public companies disclose how many people they employ both in the United States and abroad. The rule applies to the company itself and to any subsidiary that is consolidated or accounted for using the equity method, but it does not apply to emerging growth companies. The disclosures must be included in the company’s regular SEC filings and must show the numbers broken down by state or by foreign country, along with the percentage change from the most recent annual report.

Key Provisions

Defines a “covered subsidiary” as any consolidated subsidiary or any subsidiary accounted for using the equity method.
Requires issuers (except emerging growth companies) to report the total number of domestic employees, broken down by each state, district, territory, or possession, and to show the percentage change from the prior annual report.
Requires issuers to report the total number of foreign employees, broken down by country, and to show the percentage change from the prior annual report.
Requires the same foreign‑employee breakdown for each covered subsidiary and the corresponding percentage change.
Allows the SEC to issue implementing rules as needed.

Legislative Activity

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23 earlier actions

SenateIntro Referral Latest Action

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

Banking, Housing, and Urban Affairs Committee

October 21, 2019

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HouseIntro Referral

Introduced in House

July 5, 2019

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

July 5, 2019

HouseCommittee

Committee Consideration and Mark-up Session Held.

Financial Services Committee

July 16, 2019

HouseCommittee

Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 25.

Financial Services Committee

July 16, 2019

HouseCommittee

Reported (Amended) by the Committee on Financial Services. H. Rept. 116-220.

Financial Services Committee

October 4, 2019

HouseCalendars

Placed on the Union Calendar, Calendar No. 173.

October 4, 2019

HouseFloor

Rules Committee Resolution H. Res. 629 Reported to House. Rule provides for consideration of H.R. 1815 and H.R. 3624 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.

October 15, 2019 • 6:42 PM

HouseFloor

Rule H. Res. 629 passed House.

October 16, 2019 • 2:36 PM

HouseFloor

Considered under the provisions of rule H. Res. 629. (consideration: CR H8233-8242)

October 18, 2019 • 9:19 AM

HouseFloor

Rule provides for consideration of H.R. 1815 and H.R. 3624 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.

October 18, 2019 • 9:19 AM

HouseFloor

House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 629 and Rule XVIII.

October 18, 2019 • 9:19 AM

HouseFloor

The Speaker designated the Honorable Joe Neguse to act as Chairman of the Committee.

October 18, 2019 • 9:19 AM

HouseFloor

GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3624.

October 18, 2019 • 9:20 AM

HouseFloor

DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Huizenga amendment No. 1.

October 18, 2019 • 10:00 AM

HouseFloor

POSTPONED PROCEEDINGS - At the conclusion of debate on the Huizenga amendment, the Chair put the question on the amendment and by voice vote, announced that the noes had prevailed. Mr. Huizenga demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.

October 18, 2019 • 10:10 AM

HouseFloor

DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Hill (AR) amendment No. 2.

October 18, 2019 • 10:11 AM

HouseFloor

POSTPONED PROCEEDINGS - At the conclusion of debate on the Hill (AR) amendment, the Chair put the question on the amendment and by voice vote, announced that the noes had prevailed. Mr. Hill (AR) demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.

October 18, 2019 • 10:22 AM

HouseFloor

The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3624.

October 18, 2019 • 11:01 AM

HouseFloor

The previous question was ordered pursuant to the rule.

October 18, 2019 • 11:02 AM

HouseFloor

The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.

October 18, 2019 • 11:02 AM

HouseFloor

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 226 - 184 (Roll no. 567).(text: CR H8237-8238)

View vote Passed

October 18, 2019 • 11:10 AM

HouseFloor

On passage Passed by the Yeas and Nays: 226 - 184 (Roll no. 567). (text: CR H8237-8238)

View vote Passed

October 18, 2019 • 11:10 AM

HouseFloor

Motion to reconsider laid on the table Agreed to without objection.

October 18, 2019 • 11:10 AM

SenateIntro Referral

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

Banking, Housing, and Urban Affairs Committee

October 21, 2019

Voting History

3 votes recorded • Roll call available

HOUSE

Roll Call Available

October 18, 2019 at 11:08 AM

On Passage

Majority required: 1/2 (50%)

Passed

226 - 184

HOUSE

Roll Call Available

October 18, 2019 at 10:59 AM

On Agreeing to the Amendment

Majority required: 1/2 (50%)

Failed

187 - 224

HOUSE

Roll Call Available

October 18, 2019 at 10:53 AM

On Agreeing to the Amendment

Majority required: 1/2 (50%)

Failed

184 - 229

Amendments

2 amendments

Offered to this bill

H.Amdt. 632Oct 18, 2019

Amendment sought to require disclosure of the information under the bill only if that information is material information for investors.

On agreeing to the Hill (AR) amendment (A002) Failed by recorded vote: 187 - 224 (Roll no. 566). · Sponsored by J. French Hill

H.Amdt. 631Oct 18, 2019

Amendment sought to exempt issuers from making additional disclosures if they are required to make a CEO pay ratio disclosure or disclosures relating to conflict minerals.

On agreeing to the Huizenga amendment (A001) Failed by recorded vote: 184 - 229 (Roll no. 565). · Sponsored by Bill Huizenga

Bill Text

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Referred in SenateIssued October 21, 2019

IIB

116th CONGRESS

1st Session

H. R. 3624

IN THE SENATE OF THE UNITED STATES

October 21, 2019

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To amend the Securities Exchange Act of 1934 to require the disclosure of the total number of domestic and foreign employees of certain public companies, and for other purposes.

Short title

This Act may be cited as the Outsourcing Accountability Act of 2019.

Required disclosure of number of domestic and foreign employees

Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) is amended by adding at the end the following:

(s)

Disclosure of number of domestic and foreign employees

(1)

Definition

In this subsection, the term covered subsidiary means, with respect to an issuer, any subsidiary of such issuer that is—

(A)

a consolidated subsidiary; or

(B)

a subsidiary with respect to which the issuer accounts for the investment of the issuer in the subsidiary using the equity method of accounting.

(2)

Disclosure Requirement

Except with respect to an emerging growth company, beginning in the first full fiscal year that begins after the date of the enactment of this subsection, each issuer that is required to file a report with the Commission pursuant to subsection (a) shall disclose in such report—

(A)

the total number of employees of the issuer and any covered subsidiary of the issuer who are domiciled in the United States—

(i)

disaggregated by State, District of Columbia, commonwealth, territory, or possession of the United States; and

(ii)

compared using a percentage change calculation to any such total reported by the issuer in the most recent annual report of the issuer;

(B)

the total number of employees of the issuer who physically work in and are domiciled in any country other than the United States—

(i)

disaggregated by country; and

(ii)

compared using a percentage change calculation to any such total reported by the issuer in the most recent annual report of the issuer; and

(C)

the total number of employees of any covered subsidiary of the issuer who physically work in and are domiciled in any country other than the United States—

(i)

disaggregated by country; and

(ii)

compared using a percentage change calculation to any such total reported by the issuer in the most recent annual report of the issuer.

(3)

Rulemaking

The Commission may issue such rules as the Commission considers necessary to implement this subsection.

Passed the House of Representatives October 18, 2019.

Cheryl L. Johnson,

Clerk.