,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #eb  ,,in ,,the ,,house ,,of    
,,representatives  ,january #c1         
#bjbe,mr4 ,biggs of ,arizona 7for       
himself1 ,mr4 ,ogles1 and ,mr4 ,crane7  
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,a ,,bill  ,to    
require the ,securities and ,exchange   
,commission to amend a rule of the      
,commission relating to shareholder     
proposals1 and for other purposes4  #a4 
,short title ,this ,act may be cited as 
the ,stop ,woke ,investing ,act4  #b4   
,shareholder proposals  7a7 ,definitions
 ,in this section3 7#a7 ,accelerated    
filer2 large accelerated filer ,the     
terms accelerated filer and large       
accelerated filer have the meanings     
given the terms in section #bdj4ab;b-#b 
of title #ag1 ,code of ,federal         
,regulations1 or any successor          
regulation4  7#b7 ,commission ,the term 
,commission means the ,securities and   
,exchange ,commission4  7#c7 ,material  

,the term material1 when used to qualify
 a financial risk or financial return-- 
7,a7 means a financial risk or financial
 return in which there is a substantial 
likelihood that a reasonable investor   
would attach importance when-- 7i7      
evaluating the potential financial risks
 or returns of an existing or           
prospective investment2 or  7ii7        
exercising1 or declining to exercise1   
any rights with respect to securities2  
and  7,b7 does not include-- 7i7        
furthering nonpecuniary1 environmental1 
social1 political1 ideological1 or other
 goals or objectives2 or  7ii7 any      
portion of a financial risk or financial
 return that primarily relates to events
 that-- 7,i7 involve a high degree of   
uncertainty regarding what may occur in 
the long-term future2 and  7,,ii7 are   
systemic1 general1 or not               
investment-specific in nature4  7#d7    
,non-accelerated filer ,the term        
non-accelerated filer means an issuer   
that is not an accelerated filer or a   

large accelerated filer4  7b7           
,amendments required ,not later than    
#ahj days after the date of enactment of
 this ,act1 the ,commission shall amend 
section #bdj4ad;a-#h of title #ag1 ,code
 of ,federal ,regulations1 or any       
successor regulation1 to provide that   
the shareholder proposals that a company
 includes on the proxy card of the      
company1 and includes along with any    
supporting statement in the proxy       
statement of the company1 shall be      
determined in accordance with the       
following3 7#a7 ,a company shall        
determine the proposals to include with 
respect to any #a annual or special     
meeting of shareholders as follows3 7,a7
 ,subject to paragraph 7#b71 if the     
company is a non-accelerated filer1 the 
company shall not be required to include
 more than #b proposals submitted by    
shareholders4  7,b7 ,subject to         
paragraph 7#b71 if the company is an    
accelerated filer1 the company shall not
 be required to include more than #d    

proposals submitted by shareholders4    
7,c7 ,subject to paragraph 7#b71 if the 
company is a large accelerated filer1   
the company shall not be required to    
include more than #g proposals submitted
 by shareholders4  7#b7 ,a proposal may 
not be included under paragraph 7#a7    
unless the proposal has a material      
effect on the financial performance of  
the applicable company4  7#c7 ,the      
method for determining which proposals  
to include under subparagraphs 7,a71    
7,b71 and 7,c7 of paragraph 7#a7 shall  
be-- 7,a7 determined by the company2 and
  7,b7 disclosed to the ,commission4    
7#d7 ,the order in which the company    
receives the proposals shall have no    
bearing in determining whether a        
proposal is so included4  7#e7 ,if any  
#b or more proposals submitted are      
substantially similar1 all such         
proposals shall be considered to be a   
single proposal for the purposes of this
 subsection4  7#f7 ,no proposal         
submitted by a member of the board of   

directors of the company may be so      
included4  7c7 ,rules of construction   
,nothing in this section may be         
construed-- 7#a7 to require a company to
 include a shareholder proposal in the  
proxy statement of the company if1 under
 rules prescribed by the ,commission1   
the proposal otherwise is not required  
to be included in the proxy statement2  
7#b7 to authorize or approve any        
,commission rule or claim of authority  
to require a company to include the     
proposal of a shareholder in the proxy  
statement of the company2 or  7#c7 to   
restrict the ability of the ,commission 
to repeal any rule requiring a company  
to include the proposal of a shareholder
 in the proxy statement of the company4