H.R. 7085, as ordered reported by the House Committee on Financial Services on January 22, 2026, proposes to repeal specific disclosure requirements related to conflict minerals mandated by the Securities Exchange Act of 1934. The Congressional Budget Office (CBO) has estimated the cost savings associated with this repeal, indicating a reduction in compliance burdens for affected entities.

Public companies that were previously subject to these conflict minerals disclosure rules will no longer be required to comply with them if this bill becomes law. This change will eliminate the associated reporting obligations and associated costs. Compliance officers should monitor the legislative progress of H.R. 7085, as its enactment would remove a significant regulatory requirement.