US HR6339

Bill

To temporarily ban stock buybacks until the impact of COVID-19 on the American financial system has ended.

Introduced
03/23/2020

In Committee
03/23/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To temporarily ban stock buybacks until the impact of COVID-19 on the American financial system has ended. This bill prohibits an issuer of securities from purchasing their own securities during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days thereafter. The Securities and Exchange Commission (SEC) may terminate the ban before the end of this period if the SEC (1) determines doing so is in the public interest, and (2) provides notice.

AI Summary

This bill temporarily bans stock buybacks (the practice of a company repurchasing its own shares) until the end of the COVID-19 emergency period and for 120 days thereafter. The Securities and Exchange Commission (SEC) may terminate the ban before the end of this period if it determines that doing so is in the public interest. The bill grants the SEC the authority to enforce the ban and issue necessary rules.

Committee Categories

Business and Industry

Sponsors (2)

Sean Casten (D)*, Maxine Waters (D),

Last Action

Referred to the House Committee on Financial Services. (on 03/23/2020)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/6339/all-info

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/6339/all-info
BillText	https://www.congress.gov/116/bills/hr6339/BILLS-116hr6339ih.pdf
Bill	https://www.congress.gov/116/bills/hr6339/BILLS-116hr6339ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR6321	Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act	Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Small Business, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR6379	Take Responsibility for Workers and Families Act Workforce Emergency Response Act of 2020	Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related

Bill > HR6339

US HR6339

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary