H.R. 2795Enhancing Multi-Class Share Disclosures Act

1 recorded action296 of these members are on the 2026 ballotWhat the measure does Read on Congress.gov

Sponsor: Gregory W. Meeks [D-NY-05]
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Latest action: May 31, 2023 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

IntroducedApr 24, 2023
Passed the HouseMay 30, 2023
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

Enhancing Multi-Class Share Disclosures Act

This bill requires issuers of securities with multi-class share structures to disclose certain information in any proxy solicitation or consent solicitation material. A multi-class share structure occurs when a company issues two or more classes of shares that have different voting rights. For example, a company may issue one class of shares with no or few voting rights for the public, and another class with more voting rights for company founders and executives.

Under the bill, the issuer must disclose certain information about each director, director nominee, named executive officer, and each beneficial owner of securities with 5% or more of the total combined voting power of all classes of securities entitled to vote in the election of directors. Specifically, the issuer must disclose (1) the number of shares of all classes of securities entitled to vote in the election of directors beneficially owned by such person, and (2) the amount of voting power held by such person.

Written by the nonpartisan Congressional Research Service, describing H.R. 2795 as passed House on May 30, 2023. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 239

House May 30, 2023

On Motion to Suspend the Rules and Pass, as Amended

Enhancing Multi-Class Share Disclosures Act

Passed · Two-thirds required

347 Yea 30 Nay 58 not voting

Crossed both parties 30 of 377 voting members broke with their own party: 30 Republicans.

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How the chamber split

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DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present

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All members435 members

Democratic213 members

Republican222 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

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H.R. 2795Enhancing Multi-Class Share Disclosures Act

What the measure doesCRS summary

How every member votedHouse roll call 239

On Motion to Suspend the Rules and Pass, as Amended

How the chamber split

H.R. 2795Enhancing Multi-Class Share Disclosures Act

What the measure doesCRS summary

How every member votedHouse roll call 239

On Motion to Suspend the Rules and Pass, as Amended

How the chamber split

Who lobbied on H.R. 27951 organization

Who lobbied on H.R. 27951 organization