1. Short title This Act may be cited as the Shareholders United Act of 2019 . 2. Assessment of shareholder preferences for disbursements for political purposes (a) Assessment required The Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) is amended by inserting after section 10D the following: 10E. Assessment of shareholder preferences for disbursements for political purposes (a) Assessment required before making a disbursement for a political purpose (1) Requirement An issuer with an equity security listed on a national securities exchange may not make a disbursement for a political purpose unless— (A) the issuer has in place procedures to assess the preferences of the shareholders of the issuer with respect to making such disbursements; and (B) such an assessment has been made within the 1-year period ending on the date of such disbursement. (2) Treatment of issuers whose shareholders are prohibited from expressing preferences Notwithstanding paragraph (1), an issuer described under such paragraph with procedures in place to assess the preferences of its shareholders with respect to making disbursements for political purposes shall not be considered to meet the requirements of such paragraph if a majority of the number of the outstanding equity securities of the issuer are held by persons who are prohibited from expressing partisan or political preferences by law, contract, or the requirement to meet a fiduciary duty. (b) Assessment requirements The assessment described under subsection (a) shall assess— (1) which types of disbursements for a political purpose the shareholder believes the issuer should make; (2) whether the shareholder believes that such disbursements should be made in support of, or in opposition to, Republican, Democratic, Independent, or other political party candidates and political committees; (3) whether the shareholder believes that such disbursements should be made with respect to elections for Federal, State, or local office