To amend the Securities Act of 1933 to require covered issuers to carry out a racial equity audit every 2 years, to require atonement for the descendants of enslaved persons, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Securities Act of 1933 to require covered issuers to carry out a racial equity audit every 2 years, to require atonement for the descendants of enslaved persons, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H799EA393CFB24FB3A8E52FFB4BC8116C: 1. Short title This Act may be cited as the Original Securities and Exchange Atonement Act of 2024 .
- Section H408085FF27E043638EC909C6F2A1968B: 2. Racial equity audit The Securities Act of 1933 is amended by inserting after section 4A (15 U.S.C. 77d–1) the following: 4B.Racial equity audit(a)In...
- Section HA315F9C68EB241548788A55FDF34FC89: 4B. Racial equity audit Not later than the end of the 6-month period beginning on the date of enactment of this section, and every 2 years thereafter, each...
- Section H9976E248A38348B990CBF34EDF742F80: 317. Office of Minority Low to Moderate Income Programs There is established, within the Department of the Treasury, an Office of Minority Low to Moderate...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Securities Act of 1933 to require covered issuers to carry out a racial equity audit every 2 years, to require atonement for the descendants of enslaved persons, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Housing, Government Operations
Primary Purpose
This bill, To amend the Securities Act of 1933 to require covered issuers to carry out a racial equity audit every 2 years, to require atonement for the descendants of enslaved persons, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Green of Texas (for himself, Mrs. Beatty, Ms. Clarke …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
- "secretary_of_treasury"
- → Secretary of the Treasury
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
Key Definitions
Terms defined in this bill
a census tract in which 51 percent or more of the households located in the census tract earn less than 80 percent of the area median income
an issuer that— makes use of the mails or any means or instrumentality of interstate commerce
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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