0
Eyes on the Board Act of 2023
1/31/2024, 5:15 AM
Summary of Bill S 3074
Under the Eyes on the Board Act, independent directors are defined as individuals who do not have any financial or personal ties to the company they are overseeing. This is intended to prevent conflicts of interest and ensure that the board is able to make decisions in the best interest of shareholders and the company as a whole.
In addition to the requirement for independent directors, the bill also mandates that companies disclose the reasons for any board member departures and provide more detailed information about the qualifications and experience of their directors. This is aimed at providing shareholders and the public with more insight into the decision-making processes of corporate boards. Overall, the Eyes on the Board Act of 2023 seeks to promote greater transparency and accountability in corporate governance, with the ultimate goal of protecting the interests of shareholders and ensuring that companies are being run in a responsible and ethical manner.
Congressional Summary of S 3074
Eyes on the Board Act of 2023
This bill requires schools receiving specified federal funding for internet connectivity to limit students’ screen time and access to social media platforms on subsidized devices and networks.
Specifically, schools receiving funding through the Schools and Libraries Universal Service Support (E-Rate) program or the Emergency Connectivity Fund may not allow students to access social media platforms on subsidized devices or networks. Such schools must also implement policies that specify permitted device usage and screen time by grade. Schools must submit copies of their internet safety and screen time policies to the Federal Communications Commission, and the commission must make those policies publicly available in a database.
Under the bill, social media platforms are defined as online platforms that primarily provide a forum for users to generate and share content.
