MI HCR0019

Urges Congress to repeal section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires publicly traded companies to report on "conflict minerals" (gold, tin, tantalum, and tungsten) sourced from the Democratic Republic of Congo and surrounding Central African nations.

Identifies compliance costs as excessive, with the SEC estimating initial costs between $3 billion and $4 billion and annual costs between $207 million and $609 million, though the National Association of Manufacturers estimates total costs at $16 billion.

Claims the regulation creates burdensome reporting requirements that force manufacturers to trace conflict minerals through their entire supply chains back to smelters, disproportionately affecting American small businesses.

States the rule threatens Michigan's economic recovery and job creation efforts in manufacturing, particularly given the state's 9 percent unemployment rate as of October 2013 (1.7 percent above the national average).

Requires copies of the resolution be sent to the President, Congressional leadership, the SEC Chairman, and Michigan's congressional delegation.