H.R. 3970 · 113th Congress
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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DoggettSponsor25 cosponsors · 25 D
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Rangel0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act - Amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from…
What it does: CRS summary · Introduced in House · Jan 29, 2014
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act - Amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from such limitation for compensation payable on a commission basis or upon the attainment of a performance goal; and (3) make such limitation applicable to all publicly-held corporations that are required by the Securities and Exchange Commission (SEC) to register securities and provide periodic reports to their investors.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Latest action (Jan 29, 2014): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 29, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.