Sec. 3101. Exclusion of certain substantially similar shareholder proposals
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/bill/118/hr/4790/eh/section-3101·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Securities and Exchange Commission shall revise the resubmission requirements in section 240.14a-8(i)(12) of title 17, Code of Federal Regulations, to provide that a shareholder proposal may be excluded by an issuer from its proxy or consent solicitation material for a meeting of the shareholders of such issuer if the shareholder proposal addresses substantially the same subject matter as a proposal, or proposals, previously included in the proxy or consent solicitation material for a meeting of the shareholders of such issuer— for a meeting of the shareholders conducted in the preceding 5 calendar years; and if the most recent vote— occurred in the preceding 3 calendar years; and if voted on once during such 5-year period, received less than 10 percent of the votes cast; if voted on twice during such 5-year period, received less than 20 percent of the votes cast; or if voted on three or more times during such 5-year period, received less than 40 percent of the votes cast.