To amend the Securities Exchange Act of 1934 to provide for duties of certain investment advisors, asset managers, and pension funds with respect to voting on shareholder proposals, and for other purposes.

Cost and committee reports

Official records Congress.gov attaches to H.R. 4648.

• Constitutional authority statementThe sponsor’s statement of where the Constitution gives Congress the power to pass this bill. Statement by Mr. LOUDERMILK, as printed in the Congressional Record (Vol. 169, No. 121, July 14, 2023, Page H3613):
  Article 1, Section 8, Clause 18. To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof The single subject of this legislation is: To require certain investment advisors, asset managers, and pension funds to disclose certain information related to voting on shareholder proposals.
  Source: Congress.gov, Congressional Record July 14, 2023 ↗

  Evidence

  Field in the Congress.gov record

  constitutionalAuthorityStatementText

  Statement length

  457 characters

  Congress.gov bill record

  H.R. 4648, 118th Congress

  Congress.gov API record

  https://api.congress.gov/v3/bill/118/hr/4648

  Record last updated by Congress.gov

  May 27, 2025

  PORKER copy retrieved

  September 14, 2026

  Stored copy, SHA-256 of the file

  86c9a8b10107fa7e51f9794959c85e2092f9a252d9a36245e74d70c5f34943b7

  PORKER shows the statement exactly as printed, with the page markup removed. It is the sponsor’s claim; it is not a legal finding.

Congress.gov’s record for this bill does not list a CBO cost estimate or a committee report (as of May 27, 2025). Not every bill gets one.

From the Congress.gov bill record for H.R. 4648, last updated May 27, 2025. PORKER’s copy was retrieved September 14, 2026 and is refreshed nightly. Open “Evidence” on any line for the record, field and file fingerprint.