[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8566 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 8566

To require the Board of Governors of the Federal Reserve System and the 
 Securities and Exchange Commission to carry out a study on the racial 
            gap in stock ownership, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            October 9, 2020

    Mr. Meeks (for himself, Mr. Lawson of Florida, and Mr. Cleaver) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

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                                 A BILL


 
To require the Board of Governors of the Federal Reserve System and the 
 Securities and Exchange Commission to carry out a study on the racial 
            gap in stock ownership, and for other purposes.

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

SECTION 1. STUDY ON THE RACIAL GAP IN STOCK OWNERSHIP.

    (a) Study.--The Board of Governors of the Federal Reserve System 
and the Securities and Exchange Commission shall, jointly, carry out a 
study on the racial gap in stock ownership.
    (b) Report.--Not later than the end of the 180-day period beginning 
on the date of enactment of this Act, the Board of Governors and the 
Commission shall, jointly, issue a report to the Congress containing--
            (1) all findings and determinations made in carrying out 
        the study required under subsection (a);
            (2) estimates of--
                    (A) the percentage of stock ownership among the 
                different races;
                    (B) the aggregate amount of equity holdings held by 
                the different races; and
                    (C) the per capita equity holdings among the 
                different races; and
            (3) any recommendations of the Board of Governors or the 
        Commission for administrative or legislative changes that could 
        raise stock ownership among African Americans and any other 
        group less likely to own stocks.
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