S. 2546 · 114th Congress
No Windfalls for Bailed Out Executives Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WhitehouseSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to deny deferred compensation to, or to require repayment of deferred compensation received by, key employees, members of the board of directors or other officers of a corporation, or any other employee having annual compensation of more than $1 million during any 36-month period in which their employer receives…
What it does: CRS summary · Introduced in Senate · Feb 11, 2016
No Windfalls for Bailed Out Executives Act
This bill amends the Internal Revenue Code to deny deferred compensation to, or to require repayment of deferred compensation received by, key employees, members of the board of directors or other officers of a corporation, or any other employee having annual compensation of more than $1 million during any 36-month period in which their employer receives extraordinary assistance from the federal government. The bill defines "extraordinary governmental assistance" as grants, loans, loan guarantees, or other assistance to an employer that is intended to prevent such employer from becoming imminently insolvent or to cure such insolvency.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: No Windfalls for Bailed Out Executives Act
Latest action (Feb 11, 2016): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 11, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.