I 118th CONGRESS 1st Session H. R. 4640 IN THE HOUSE OF REPRESENTATIVES July 14, 2023 Mr. Donalds introduced the following bill; which was referred to the Committee on Financial Services A BILL To authorize the exclusion of shareholder proposals from proxy or consent solicitation material if the subject matter of the shareholder proposal is environmental, social, or political.

1. Exclusion of certain ESG shareholder proposals A shareholder proposal submitted to an issuer pursuant to section 240.14a–8 of title 17, Code of Federal Regulations, may be excluded by an issuer from its proxy or consent solicitation material for a meeting of the shareholders of such issuer if the subject matter of the shareholder proposal is environmental, social, or political (or a similar subject matter).