Sen. Cynthia M. Lummis

Maddy summarySRES 593 is a Senate resolution honoring former U.S. Senator Kaneaster Hodges, Jr. of Arkansas, who served from 1977 to 1978. The resolution expresses the Senate’s "profound sorrow" at his death and directs the Secretary of the Senate to transmit an enrolled copy to his family. It also calls for the Senate to adjourn as a mark of respect. This is a ceremonial resolution with no policy provisions or direct impact on legislation or constituents.

No Free TRIPS Act This bill prohibits the U.S. government from negotiating or concluding any withdrawal from or modification to the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) without explicit authorization from Congress. The TRIPS Agreement is one of several international agreements that led to the creation of the World Trade Organization (WTO). In October 2020, in response to the COVID-19 pandemic, several WTO members proposed a waiver of some TRIPS obligations, including obligations related to national patent laws.

Traveler's Gun Rights Act This bill allows an individual who does not have a physical residence in a state to use the address for a private mailbox or post office box maintained by that individual for purposes of obtaining a firearm from a federally licensed dealer.

This resolution designates April 16 through April 24, 2022, as National Park Week. The resolution also encourages the people of the United States and the world to responsibly visit, experience, recreate in, and support the treasured national parks of the United States.

Investments in Rural Transit Act of 2021 This bill increases the federal share of operating costs to 80% for projects in certain rural areas with high transit dependency that receive grants under the Formula Grants for Rural Areas program of the Federal Transit Administration. The program provides capital, planning, and operating assistance to states to support public transportation in rural areas with populations of less than 50,000. To qualify for the increased federal share, a project must serve an area that is an area of persistent poverty (a county in which at least 20% of the population has lived in poverty during the most recent 30-year period); a county in which at least 25% of residents are age 65 or older, a county designated as a health professional shortage area on the basis of a primary care or mental health care shortage, or a county with low population density of not more than 20 people per square mile of land area.

Real Emergencies Act This bill denies the President authority to declare a national emergency, an emergency or major disaster, or a public health emergency on the premise of climate change.

Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act This bill exempts certain financial institutions and transactions from the Consumer Financial Protection Bureau (CFPB) reporting requirements with respect to data about small business credit applications. Under the bill, the requirements apply only to financial institutions that originate at least 500 credit transactions to small businesses in each of the preceding two years. The bill further defines small businesses as those with annual revenue of $1 million or less. Currently, the CFPB has proposed a rule that the requirements apply only to financial institutions that originate at least 25 annual credit transactions to small businesses in each of the preceding two years. The rule further defines small businesses as those with annual revenue of $5 million or less.

Middle Market IPO Underwriting Cost Act This bill requires the Securities and Exchange Commission to study and report on the costs encountered by small- and medium-sized companies when undertaking initial public offerings and certain offerings exempt from securities registration requirements.

Restoring Shareholder Transparency Act of 2022 This bill limits corporate shareholder proposals and revises proxy voting protocols for shareholders. Current shareholder proposal rules address who is eligible to submit shareholder proposals for a vote and the dissemination of information to voters through a proxy statement. Under the bill, a company is not required to comply with these shareholder proposal rules. Instead, a company may opt-in to these rules. The bill also revises these rules to require a shareholder hold at least 1% of the market value of the company's securities in order to submit a shareholder proposal. Under current rules, a shareholder's ability to submit a proposal depends upon the dollar amount of shares held and the length of time the shares have been held. It also revises these rules to provide that a company's allowed bases for exclusion of a proposal apply without regard to whether the proposal relates to a significant social policy issue. Under current guidance, a shareholder proposal may overcome a company's exclusion if the proposal is of social policy significance. Finally, the bill generally prohibits proxy voting advice furnished by a person who provides such advice for a fee.

Gig Worker Equity Compensation Act This bill expands the existing Securities and Exchange Commission registration exemption for securities that are part of an employee-compensation package. Specifically, the bill applies this exemption to securities provided to independent contractors performing work for the issuer and to customers of the issuer. The bill also requires the corresponding aggregate sales amount to be indexed for inflation annually instead of every 5 years as under current law.