To repeal a restriction on the use of funds by the Securities and Exchange Commission to ensure shareholders of corporations have knowledge of corporate political activity.

This bill repeals the prohibition on the use of certain funds by the Securities and Exchange Commission to implement a rule, regulation, or order to require the disclosure of political contributions, contributions to tax exempt organizations, or dues paid to trade associations.

Bill 117 HR 403, also known as the Corporate Political Disclosure Act of 2021, aims to repeal a restriction that currently limits the Securities and Exchange Commission (SEC) from using funds to require corporations to disclose their political activities to shareholders. This restriction has been in place for several years and has prevented the SEC from implementing rules that would ensure shareholders are informed about how corporations are engaging in political activities.

The bill seeks to remove this restriction in order to promote transparency and accountability in corporate political spending. By allowing the SEC to require corporations to disclose their political activities to shareholders, the bill aims to empower investors to make more informed decisions about the companies they are investing in. This increased transparency could also help to prevent potential conflicts of interest and ensure that corporations are acting in the best interests of their shareholders.

Overall, Bill 117 HR 403 is focused on promoting transparency and accountability in corporate political spending by repealing a restriction that has limited the SEC's ability to ensure shareholders have knowledge of corporate political activity. If passed, this bill could have significant implications for how corporations disclose their political activities and how shareholders are able to hold them accountable.