This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.
Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.
117th CONGRESS
  2d Session
H. J. RES. 104

  Providing for congressional disapproval under chapter 8 of title 5, 
 United States Code, of the rule submitted by the Department of Labor 
 relating to ``Prudence and Loyalty in Selecting Plan Investments and 
                    Exercising Shareholder Rights''.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 20, 2022

    Mr. Finstad submitted the following joint resolution; which was 
            referred to the Committee on Education and Labor

_______________________________________________________________________

                            JOINT RESOLUTION


 
  Providing for congressional disapproval under chapter 8 of title 5, 
 United States Code, of the rule submitted by the Department of Labor 
 relating to ``Prudence and Loyalty in Selecting Plan Investments and 
                    Exercising Shareholder Rights''.

    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled, That Congress disapproves the 
rule submitted by the Department of Labor relating to ``Prudence and 
Loyalty in Selecting Plan Investments and Exercising Shareholder 
Rights'' (87 Fed. Reg. 73822 (December 1, 2022)), and such rule shall 
have no force or effect.
                                 <all>
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".
Official Titles - House of Representatives
Official Title as Introduced
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".
Rep. Finstad, Brad