H.R. 1577 · 111th Congress
To require the Secretary of the Treasury to pursue every legal means to stay or recoup certain incentive…
Full title
To require the Secretary of the Treasury to pursue every legal means to stay or recoup certain incentive bonus payments and retention payments made by American International Group, Inc. to its executives and employees, and to require the Secretary's approval of such payments by any financial institution who receives.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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PaulsenSponsor49 cosponsors · 5 D, 44 R
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Austria
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Cassidy
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Chaffetz
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Coffman
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Connolly
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Cao
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Fleming
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Guthrie
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Harper
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Lee
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Lummis
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Olson
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Roe
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Rooney
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Schock
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Bono Mack
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Biggert
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Gresham Barrett
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Burgess
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Coble
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Fallin
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Graves
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Gingrey
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Kingston
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McKeon
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McCaul
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Minnick
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Putnam
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Pence
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Rogers
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Smith
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Mitchell
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Simpson
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Wamp
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Nye22 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Directs the Secretary of the Treasury to: (1) pursue every legal means to stay or recoup incentive bonuses and retention payments paid by American International Group, Inc.
What it does: CRS summary · Introduced in House · Mar 18, 2009
Directs the Secretary of the Treasury to: (1) pursue every legal means to stay or recoup incentive bonuses and retention payments paid by American International Group, Inc. (AIG) to its executives and employees after September 16, 2008; (2) prohibit payments or other federal assistance to AIG unless current AIG executives and employees return to the Treasury any incentive bonuses and retention payments paid to them after September 16, 2008; and (3) require any financial institution that has received any assistance under the Troubled Asset Relief Program (TARP) and that has not repaid such assistance in full within two weeks after the enactment of this Act to submit to the Secretary for approval plans for making any incentive bonuses or retention payments to its executives or employees and any contracts that require such payments.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To require the Secretary of the Treasury to pursue every legal means to stay or recoup certain incentive bonus payments and retention payments made by American International Group, Inc. to its executives and employees, and to require the Secretary's approval of such payments by any financial institution who receives.
Latest action (Mar 18, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 18, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.