Prioritizing Economic Growth Over Woke Policies Act

[AI summary unavailable — showing source text] Guiding Uniform and Responsible Disclosure Requirements and Information Limits Act of 2023 or the GUARDRAIL Act of 2023 This bill limits the disclosures required by issuers of securities as a result of a rulemaking and establishes the Public Company Advisory Committee. First, the bill requires the Securities and Exchange Commission (SEC) to limit issuer disclosure requirements made in a rulemaking. Specifically, the SEC must provide that an issuer of securities is only required to disclose information in response to a rulemaking if the issuer determines that this information is material with respect to a voting or investment decision regarding the issuer’s securities. The bill also requires the SEC to report on its website each required disclosure of nonmaterial information under current federal securities laws and regulations and a justification for the disclosure. The SEC must report this information to Congress every five years. The bill also establishes that a person's failure to disclose such nonmaterial information is not a liability in a private action. Further, the bill establishes the Public Company Advisory Committee within the SEC. The committee must advise the SEC on re…