S.3215: Accountable Capitalism Act

Overview

The Accountable Capitalism Act (S. 3215) would create new regulations for companies that have revenue of over $1 billion annually, including:
1) Obtaining a federal charter of corporate citizenship from the Department of Labor to require the corporation to take into account the interest of customers, employees, and the communities in which the company operates.
2) Require the Board of Directors to have 40 percent of its seats reserved for elected employee representatives.
3) Restrict when officers and directors may sell certain securities related to the entity.
4) Requite shareholder and director approval of any political expenditures.

Source

Our Stance

Watching

Priority

Medium

Bill Number

S.3215

Date Introduced

January 16, 2020

Committee

Senate Commerce, Science, and Transportation Committee

Bill Status

Introduced or Prefiled