US Federal 2023-2024 Regular Session

US Federal House Bill HB2497

Introduced
4/6/23  

Caption

To permit an issuer, when determining the market capitalization of the issuer for purposes of testing the significance of an acquisition or disposition, to include the value of all shares of the issuer.

Impact

If enacted, HB 2497 would lead to changes in financial reporting practices for issuers, providing a more inclusive assessment of market value. By allowing the integration of various classes of stocks in the overall valuation, the bill could affect how companies approach acquisitions and disposals. This could also align with modern market practices, where the distinction between different types of shares is less rigid in reflecting a company's worth. The implications may extend to overall market dynamics and investors' confidence as they understand the full extent of a company’s financial health at a glance.

Summary

House Bill 2497 aims to modify the regulations under the Securities and Exchange Commission (SEC) regarding how issuers are to determine their market capitalization when assessing the significance of acquisitions or disposals. The bill specifically seeks to allow issuers to include the value of all classes of shares, including non-voting common shares and preferred stocks, rather than limiting the calculation to just the voting and non-voting common equity. This potential change is intended to provide a more comprehensive view of an issuer's financial standing.

Contention

However, the bill may also face scrutiny due to concerns about transparency and potential manipulation of market perceptions. Critics might argue that including non-tradable shares could obscure the true economic picture of an issuer's capital. Furthermore, regulatory bodies may need to assess the ramifications of such an inclusion on market integrity and investor decision-making processes. Discussions surrounding the bill are expected to highlight these potential trade-offs between greater flexibility and maintaining clear and standardized financial disclosures.

Companion Bills

US HB2799

Related Expanding Access to Capital Act of 2023

Previously Filed As

US HB77

This bill establishes which state law governs health insurers offering coverage in multiple states. Specifically, the bill provides that the laws of a state designated by a health insurer (primary state) apply to individual health insurance coverage offered by that insurer in any other state (secondary state) if the coverage, states, and insurer comply with the conditions of this bill. Insurers are exempted from any secondary state's laws that would prohibit or regulate the operation of the insurer in that state. The primary state is given sole jurisdiction to enforce its covered laws in any secondary state. The Government Accountability Office must study the effect of this bill on specified health insurance issues.

US HB127

Protection from Obamacare Mandates and Congressional Equity Act This bill alters provisions relating to the requirement to maintain minimum essential health care coverage (i.e., the individual mandate), as well as provisions relating to health care coverage for certain executive branch and congressional employees. Specifically, the bill exempts individuals from the requirement to maintain minimum essential health care coverage if they reside in a county where fewer than two health insurers offer insurance on the health insurance exchange. Under current law, there is no penalty for failing to maintain minimum essential health care coverage. The bill also requires certain executive branch and congressional employees to participate in health insurance exchanges. Under current law, Members of Congress and their designated staff are required to obtain coverage through health insurance exchanges, rather than the Federal Employee Health Benefits (FEHB) Program. Current regulations authorize government contributions toward such coverage and require Members of Congress to designate which members of their staff are required to obtain coverage through an exchange. The bill requires all congressional staff, including employees of congressional committees and leadership offices, to obtain coverage through an exchange. The bill also prohibits Members of Congress from having the discretion to determine which of their employees are eligible to enroll through an exchange. Further, the President, Vice President, and executive branch political appointees must also obtain coverage through exchanges, rather than FEHB. The government is prohibited from contributing to or subsidizing the health insurance coverage of the officials and employees subject to this requirement, including Members of Congress and their staff.

US HB7

No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of 2023 This bill modifies provisions relating to federal funding for, and health insurance coverage of, abortions. Specifically, the bill prohibits the use of federal funds for abortions or for health coverage that includes abortions. Such restrictions extend to the use of funds in the budget of the District of Columbia. Additionally, abortions may not be provided in a federal health care facility or by a federal employee. Historically, language has been included in annual appropriations bills for the Department of Health and Human Services (HHS) that prohibits the use of federal funds for abortions—such language is commonly referred to as the Hyde Amendment. Similar language is also frequently included in appropriations bills for other federal agencies and the District of Columbia. The bill makes these restrictions permanent and extends the restrictions to all federal funds (rather than specific agencies). The bill's restrictions regarding the use of federal funds do not apply in cases of rape, incest, or where a physical disorder, injury, or illness endangers a woman's life unless an abortion is performed. The Hyde Amendment provides the same exceptions. The bill also prohibits qualified health plans from including coverage for abortions. Currently, qualified health plans may cover abortion, but the portion of the premium attributable to abortion coverage is not eligible for subsidies.

US HB134

This bill permanently allows any site to serve as an originating site (i.e., the location of the beneficiary) for purposes of Medicare telehealth services, including a beneficiary's home.

US HB172

Acre In, Acre Out Act This bill prescribes a new requirement for any acquisition of land by the Department of the Interior or the Department of Agriculture that would result in a net increase of total land acreage under the jurisdiction of the National Park Service, the U.S. Fish and Wildlife Service, the Bureau of Land Management, or the Forest Service. The department concerned must offer for sale an equal number of acres of federal land that is under the same jurisdictional status. The bill exempts from this requirement any easements acquired to facilitate management of federal lands. Land sold pursuant to this bill shall be offered for sale at fair market value (based on local comparable sales), with monthly price reductions if the land is not sold in six months. All net proceeds from the sale of federal lands pursuant to this bill shall be deposited directly into the Treasury for reduction of the public debt.

US HB209

Permitting for Mining Needs Act of 2023 This bill expedites the review of mining projects on federal lands and limits judicial review of mining projects. For example, the bill expands the federal permitting and review processes under the Infrastructure Investment and Jobs Act for critical minerals. Under the act, the Bureau of Land Management (BLM) and the U.S. Forest Service, to the maximum extent practicable, must complete the federal permitting and review processes related to critical mineral mines on federal lands with maximum efficiency and effectiveness. This bill expands this process to include all minerals as defined by the bill, not only critical minerals. The bill also establishes deadlines for completing the review of mining projects under the National Environmental Policy Act of 1969. In addition, the bill also expands the meaning of covered projects under the Fixing America's Surface Transportation (FAST) Act to include (1) certain mineral production projects, and (2) certain actions taken by the Department of Defense. Such projects qualify for expedited environmental review. It also establishes requirements to expedite the review or authorization of certain mineral projects, such as (1) mineral exploration activities with a surface disturbance of no more than five acres of public lands, (2) ancillary mining activities, and (3) uranium projects. Finally, the bill limits judicial review of a permit, license, or approval issued by a lead agency for a mining project by requiring the filing of claims within a certain time period.

US HB142

End Dark Money Act This bill repeals in FY2023 the restriction on the use of funds by the Internal Revenue Service to issue any regulation or guidance relating to the standard for determining whether certain nonprofit civic organizations are being operated exclusively for the promotion of social welfare.

US HB25

FairTax Act of 2023 This bill imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2025, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions. Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines. The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury. Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund. No funding is authorized for the operations of the Internal Revenue Service after FY2027. Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.

US HB262

All Economic Regulations are Transparent Act of 2023 or the ALERT Act of 2023 This bill establishes various reporting requirements with respect to federal agency rulemaking. Specifically, each agency must submit a monthly report to the Office of Information and Regulatory Affairs (OIRA) for each rule the agency expects to propose or finalize during the following year, including information about the objectives and legal basis for the rule as well as whether the rule is subject to periodic review based on its significant economic impact. Additionally, each agency must submit a monthly report for any rule expected to be finalized during the following year for which the agency has issued a general notice of proposed rulemaking, including an approximate schedule for completing action on the rule and an estimate of its cost and economic effects. OIRA must publish this information online and, subject to certain exceptions, a rule may not take effect until the information has been published for at least six months. The bill also requires OIRA to annually publish in the Federal Register specified information it receives from agencies under this bill, including a list of each rule an agency has proposed and the total cost of all rules proposed or finalized. OIRA must further publish online (1) any analysis of the costs or benefits of rules that were proposed or finalized during the previous year, and (2) a list of rules that were subjected to various forms of review during the previous year.

US HB179

This bill requires the President to provide Congress and the public with certain information at least 30 days before issuing an executive order related to agriculture, food, and the livelihood of farmers, ranchers, and producers in the United States. Before issuing such an order, the President shall provide Congress and the public with (1) the executive order text, (2) a list of the federal laws affected, (3) information about how the President is working within the parameters of federal law and the Constitution, (4) information about how the executive order will be accomplished, and (5) a list of all the individuals and entities that the President engaged with before issuing the order.

Similar Bills

No similar bills found.