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H.R. 403House117th Congress (2021-2023)In Committee

To repeal a restriction on the use of funds by the Securities and Exchange Commission to ensure shareholders of corporations have knowledge of corporate political activity.

Sponsored by Rep. Andy Levin (D-MI)
Introduced January 21, 2021

AI-Generated Summary

Updated February 7, 2026 at 9:27 PM UTC

The bill removes a limitation that prevents the Securities and Exchange Commission (SEC) from using its budget to give shareholders information about a corporation’s political activities. By repealing that restriction, the SEC would be able to spend funds on programs that increase shareholder awareness of corporate political spending. The change mainly affects the SEC’s budgeting authority and corporate investors who want more transparency about political involvement.

Key Provisions

  • Repeals Section 631 of the Financial Services and General Government Appropriations Act, 2021, which restricted the SEC’s use of funds for informing shareholders about corporate political activity.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

Financial Services Committee

January 21, 2021

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HouseIntro Referral

Introduced in House

January 21, 2021

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

January 21, 2021

Bill Text

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Introduced in HouseIssued January 21, 2021

I

117th CONGRESS

1st Session

H. R. 403

IN THE HOUSE OF REPRESENTATIVES

January 21, 2021

Mr. Levin of Michigan (for himself, Mr. Case, Mr. Deutch, Mr. Gallego, Mrs. Hayes, Mr. Kim of New Jersey, Mr. Lieu, Mr. McGovern, Ms. Norton, Mr. Sarbanes, Ms. Scanlon, Ms. Schakowsky, Ms. Spanberger, Mr. Suozzi, Mr. Tonko, Mr. Trone, and Ms. Velázquez) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To repeal a restriction on the use of funds by the Securities and Exchange Commission to ensure shareholders of corporations have knowledge of corporate political activity.

1.

Repeal

Section 631 of the Financial Services and General Government Appropriations Act, 2021 (division E of Public Law 116–260) is hereby repealed.