Bill Summary
This legislation proposes to amend the Securities Exchange Act of 1934 by repealing specific disclosure requirements concerning conflict minerals. These requirements were originally established to ensure that companies disclose the sourcing of minerals like tin, tungsten, tantalum, and gold, which may contribute to human rights abuses and armed conflict, particularly in the Democratic Republic of Congo. The bill specifically targets the repeal of subsection (p) of section 13 of the Securities Exchange Act and also removes related provisions from the Dodd-Frank Wall Street Reform and Consumer Protection Act. By eliminating these requirements, the bill aims to reduce regulatory burdens on companies, particularly in the context of their reporting obligations.
Possible Impacts
The repeal of certain disclosure requirements related to conflict minerals, as outlined in the proposed legislation, could have several effects on different stakeholders. Here are three examples:
1. **Impact on Human Rights and Labor Conditions:**
- The repeal of conflict mineral disclosure requirements could lead to a decrease in transparency regarding the sourcing of minerals such as tin, tungsten, tantalum, and gold. Companies may no longer be obligated to disclose whether their sourcing practices contribute to human rights abuses or conflict financing in regions like the Democratic Republic of the Congo. This could result in continued exploitation of vulnerable populations and perpetuate cycles of violence and instability in these areas.
2. **Effects on Investors and Shareholders:**
- Investors and shareholders who prioritize ethical investing may find it more challenging to assess the social and ethical implications of their investments. Without the requirement for companies to disclose their sourcing practices related to conflict minerals, investors may inadvertently support companies that engage in unethical practices. This lack of transparency could lead to reputational risks for companies and may affect the long-term sustainability of their business models, ultimately impacting shareholder value.
3. **Changes in Corporate Accountability and Compliance Costs:**
- Corporations that previously invested in compliance measures to meet conflict mineral disclosure requirements may reduce their efforts to ensure ethical sourcing practices. The repeal may lower the compliance costs for these companies in the short term, but it could also diminish their accountability to stakeholders, including consumers, advocacy groups, and regulatory bodies. This shift may lead to increased scrutiny from consumers and NGOs advocating for ethical business practices, potentially resulting in public backlash or boycotts against companies perceived to be unethical.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7085 Reported in House (RH)]
<DOC>
Union Calendar No. 481
119th CONGRESS
2d Session
H. R. 7085
[Report No. 119-560]
To amend the Securities Exchange Act of 1934 to repeal certain
disclosure requirements related to conflict minerals, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 15, 2026
Mr. Huizenga introduced the following bill; which was referred to the
Committee on Financial Services
March 19, 2026
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
[For text of introduced bill, see copy of bill as introduced on January
15, 2026]
_______________________________________________________________________
A BILL
To amend the Securities Exchange Act of 1934 to repeal certain
disclosure requirements related to conflict minerals, 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. REPEAL OF CONFLICT MINERAL DISCLOSURE REQUIREMENTS.
(a) In General.--Subsection (p) of section 13 of the Securities
Exchange Act of 1934 (15 U.S.C. 78m) is hereby repealed.
(b) Conforming Amendments.--The Dodd-Frank Wall Street Reform and
Consumer Protection Act (12 U.S.C. 5301 et seq.) is amended--
(1) by striking section 1502; and
(2) in the table of contents in section 1(b) of such Act,
by striking the item relating to section 1502.
Union Calendar No. 481
119th CONGRESS
2d Session
H. R. 7085
[Report No. 119-560]
_______________________________________________________________________
A BILL
To amend the Securities Exchange Act of 1934 to repeal certain
disclosure requirements related to conflict minerals, and for other
purposes.
_______________________________________________________________________
March 19, 2026
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed