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HR 925 105th Congress House

Payoffs-for-Layoffs Corporate Welfare Elimination Act of 1997

Official title: To prohibit the Department of Defense from allowing defense contractors to recoup merger-related restructuring costs from the taxpayers.

Introduced: April 16, 1997 Introduced by: Smith, Christopher H. Republican · New Jersey See on congress.gov
Armed Forces and National Security AppropriationsCommerceCompetitionCongress
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Congressional investigationsCongressional reporting requirementsCorporate mergersCorporate reorganizationsCostsDefense budgetsDefense contractsDefense industriesEconomic impact statementsEconomics and Public FinanceFederal aid programsFederal budgetsFederal receipts and expendituresGovernment Operations and PoliticsGovernment contractorsLabor and EmploymentLayoffsOverhead costsPricesSocial WelfareTaxationUnemployment
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 1997
Unfavorable Executive Comment Received from DOD.
Apr 14, 1997
Executive Comment Requested from DOD.
Mar 5, 1997
Referred to the House Committee on National Security.
Mar 5, 1997
Sponsor introductory remarks on measure. (CR E376)
Mar 5, 1997
Introduced in House
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 Latest action April 15, 1997

Unfavorable Executive Comment Received from DOD.

 Plain-English summary Congressional Research Service

Payoffs-for-Layoffs Corporate Welfare Elimination Act of 1997 - Prohibits any funds appropriated or otherwise made available to the Department of Defense (DOD) from being obligated or expended for payment of any restructuring cost associated with a merger or acquisition incurred by a DOD contractor.

Provides for the handling of contractor claims for such costs with respect to a merger or acquisition occurring before the enactment of this Act.

Amends the National Defense Authorization Act for Fiscal Year 1995 to: (1) repeal a provision made inconsistent by this Act; (2) extend through FY 2000 a requirement of a report from the Secretary of Defense to the Congress concerning DOD savings achieved under a corporate restructuring; (3) require in such report certain additional information concerning DOD's past experience with contractors for which DOD agreed to allow such costs; and (4) require a current report from the Comptroller General to the Congress to include an estimate and description of the net effect on the Federal budget of reimbursing defense contractors for such costs.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 2 Independent 1
D
Davis, Danny K.
Illinois · Apr 16, 1997
LIPINSKI, WILLIAM
· Mar 5, 1997
 D
Norton, Eleanor Holmes
District of Columbia · Mar 5, 1997
 I
Sanders, Bernard
Vermont · Mar 5, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 925: Payoffs-for-Layoffs Corporate Welfare Elimination Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-925/
MLA
"H.R. 925: Payoffs-for-Layoffs Corporate Welfare Elimination Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-925/.
Bluebook (legal)
H.R. 925, 105th Cong. (2026), https://openamerica.io/bill/105-HR-925/.
Markdown link
[H.R. 925: Payoffs-for-Layoffs Corporate Welfare Elimination Act of 1997](https://openamerica.io/bill/105-HR-925/)
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