WASHINGTON — The Republican chairman of the House Financial Services Committee outlined on Tuesday a legislative proposal that aims to dismantle significant portions of the Dodd-Frank financial regulatory overhaul.

The plan, whose details will be released in full later this month, has little chance of passing Congress this year. But the proposal by Representative Jeb Hensarling, Republican of Texas, may influence the presidential debate and help shape the Republican agenda in the next term.

The conservative lawmaker has been a longtime critic of the financial reform law. The Financial Choice Act, which stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs, builds on longstanding efforts by House Republicans to roll back or repeal major elements of the law, and would strip financial regulators of significant authority to oversee some of the country’s largest financial institutions. The plan is an outgrowth of a call by House Speaker Paul Ryan for Republican lawmakers to offer affirmative policy proposals that go beyond criticisms of Democratic policies.

Donald J. Trump, the presumptive Republican presidential nominee, has said that he will dismantle Dodd-Frank, though he has not provided detail about how he would replace or rewrite the law.