Stop TSP ESG Act

Stop TSP ESG Act

This bill prohibits a qualified professional asset manager from exercising voting rights associated with the ownership of securities by the Thrift Savings Fund. Under current law, the term qualified professional asset manager includes certain banks, savings and loan associations, insurance companies, and investment advisers.

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3406 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 3406

      To amend title 5, United States Code, to prohibit qualified 
 professional asset managers from exercising voting rights associated 
      with the ownership of securities by the Thrift Savings Fund.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 17, 2023

 Mr. Buck (for himself, Mr. Norman, Mrs. Bice, Mr. Weber of Texas, Mr. 
  Biggs, Mrs. Boebert, Mr. Mooney, Mr. Bishop of North Carolina, Mrs. 
 Miller of Illinois, Mr. Sessions, Mr. Nehls, Mr. Burlison, Mr. Cline, 
    Mr. Gosar, Ms. Mace, Mr. Grothman, Mr. Westerman, and Mr. Self) 
 introduced the following bill; which was referred to the Committee on 
                      Oversight and Accountability

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                                 A BILL


 
      To amend title 5, United States Code, to prohibit qualified 
 professional asset managers from exercising voting rights associated 
      with the ownership of securities by the Thrift Savings Fund.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stop TSP ESG Act''.

SEC. 2. PROHIBITION ON EXERCISING VOTING RIGHTS ASSOCIATED WITH THE 
              OWNERSHIP OF SECURITIES BY THE THRIFT SAVINGS FUND.

    Section 8438(f) of title 5, United States Code, is amended by 
inserting ``a qualified professional asset manager,'' after ``The 
Board,''.
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