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The Accountable Capitalism Act establishes a federal Office of United States Corporations within the Department of Commerce to charter and oversee large business entities (those with over $1 billion in annual gross receipts). Large corporations would be required to obtain federal charters within specified timeframes and must operate for the purpose of creating a general public benefit in addition to shareholder returns. The bill grants the Office authority to monitor compliance, revoke charters for violations, and enforce obligations including employee representation on corporate boards and stakeholder consideration in business decisions.
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