Hybrid Markup Part 2 - FY2022 Budget Views & Estimates; H.R. 1087; H.R. 1187; H.... (EventID=112484)

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Connect with the House Financial Services Committee Get the latest news: https://financialservices.house.gov/ Follow us on Facebook: https://www.facebook.com/HouseFinancialCmte/ Follow us on Twitter: https://twitter.com/FSCDems ___________________________________ The full Committee will reconvene to mark up the following measures, in an order to be determined by the Chairwoman at 12:30 pm E.T. on Wednesday, April 21, 2021, and subsequent days if necessary, in a hybrid format in room 2128 of the Rayburn House Office Building as well as on the WebEx platform. - - - - - - - - 1. Views and Estimates for the Fiscal Year 2022 Budget Resolution Clause 4(f) of Rule X of the Rules of the House of Representatives and section 301(d) of the Congressional Budget Act of 1974 require each standing committee to submit to the Committee on the Budget their views and estimates on programs within their jurisdiction. These views and estimates are required to include a detailed list of planned legislative initiatives and their financing. The views and estimates are submitted to the Committee on the Budget for its consideration to formulate a budget resolution. Under section 4(f) of Rule X, the views and estimates must be submitted within six weeks of the submission of the President’s budget, or at such time as the Committee on Budget may request. Chairman Yarmuth has requested that Committees provide their views and estimates of the Fiscal Year 2022 budget by May 7, 2021. The committee print circulated with this memo constitutes the Committee’s proposed views and estimates. 2. Resolution to establish the Task Force on Artificial Intelligence (Rep. Waters) Summary: This resolution will establish the House Committee on Financial Services, Task Force on Artificial Intelligence to build on its work to review the use of artificial intelligence by financial institutions and other market participants from the 116th Congress. 3. Resolution to establish the Task Force on Financial Technology (Rep. Waters) Summary: This resolution will establish the House Committee on Financial Services, Task Force on Financial Technology to build on its work to review issues at the intersection of finance and emerging technologies from the 116th Congress. 4. Amendment in the Nature of a Substitute to H.R. 1087, “Shareholder Political Transparency Act” (Rep. Foster) Summary: This bill would require public companies to submit quarterly reports to both the SEC and investors detailing the amount, date, and nature of the company’s expenditures for political activities. If the political expenditure was made in support of (or opposition to) a particular candidate, or was made to a trade association, then the company must disclose the candidate and/or trade association. The bill also requires public companies to disclose in their annual reports any political expenditures over $10,000 in the previous year as well as the nature and amount of any political expenditures the company plans to make in the upcoming year. 5. Amendment in the Nature of a Substitute to H.R. 1187, “ESG Disclosure Simplification Act” (Rep. Vargas) Summary: The ESG Disclosure Simplification Act would require issuers to disclose certain environmental, social and governance (ESG) metrics to shareholders, the connection between those metrics and the issuer’s long term business strategy, and the method by which the issuer determines how ESG metrics impact its long term strategy. The bill would also require the U.S. Securities and Exchange Commission (SEC) to adopt rules requiring issuers to disclose ESG metrics in filings that require audited financial statements. Additionally, the bill would establish a Sustainable Financial Advisory Committee (SFAC) to provide the U.S. Securities and Exchange Commission (SEC) with a report identifying policy changes that could facilitate sustainable investments. 6. Amendment in the Nature of a Substitute to H.R. 1277, “Improving Corporate Governance Through Diversity Act” (Rep. Meeks) Summary: This bill would require public companies to annually disclose the voluntarily, self-identified gender, race, ethnicity and veteran status of their board directors. 7. Amendment in the Nature of a Substitute to H.R. 2123, “Diversity and Inclusion Data Accountability and Transparency Act” (Rep. Beatty) 8. Amendment in the Nature of a Substitute to H.R. 2516, “Promoting Diversity and Inclusion in Banking Act” (Rep. Green) 9. Amendment in the Nature of a Substitute to H.R. 2543, “Federal Reserve Racial and Economic Equity Act” (Rep. Waters) 10. Amendment in the Nature of a Substitute to H.R. 2547, the “Comprehensive Debt Collection Improvement Act” (Rep. Waters) 11. Amendment in the Nature of a Substitute to H.R. 2553, “Real Estate Valuation Fairness and Improvement Act” (Rep. Cleaver) Markup page: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=407639