Summary of Bill HR 4491
The SOLVE Act, also known as Bill 118 hr 4491, aims to address a loophole in the voting process for executives in the United States. The bill was introduced in the House of Representatives with the goal of ensuring that all votes for executives, such as CEOs and board members, are accurately counted and represented.
The main focus of the SOLVE Act is to require companies to disclose any discrepancies in the voting process for executives. This includes providing information on the number of votes cast, the number of votes counted, and any reasons for discrepancies between the two. By increasing transparency in the voting process, the bill aims to prevent any potential fraud or manipulation in executive elections.
Additionally, the SOLVE Act seeks to establish penalties for companies that fail to comply with the new disclosure requirements. This includes fines and other enforcement measures to hold companies accountable for ensuring fair and accurate executive elections.
Overall, the SOLVE Act is a bipartisan effort to close a loophole in the voting process for executives and promote transparency and integrity in corporate governance. It is an important step towards ensuring that all votes are accurately counted and represented in executive elections.
Congressional Summary of HR 4491
Solving an Overlooked Loophole in Votes for Executives (SOLVE) Act
This bill establishes the Twentieth Amendment Section Four Panel, which must recommend to Congress model legislation to resolve any vacancy created by the death of a candidate in a contingent presidential or vice-presidential election. Such panel terminates 90 days after submitting its final report.
(The Twelfth Amendment to the Constitution requires that presidential and vice-presidential candidates gain a majority of electoral votes to win an election. In the event that no candidate wins a majority of electoral votes, the Twelfth Amendment requires the House of Representatives to elect the President and the Senate to elect the Vice President, which is known as a contingent election. The Twentieth Amendment to the Constitution allows Congress to establish a process in the case of the death of a candidate in a contingent presidential or vice-presidential election.)