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S 1890 108th Congress Senate Taxation Commerce Corporation taxes Cost accounting Economic growth Economic impact statements Employee ownership Employee stock options Executive compensation Finance and Financial Sector Financial statements Foreign Trade and International Finance Government Operations and Politics Income tax Industrial research Information disclosure (Securities law) International competitiveness Labor and Employment New products Recruiting of employees

Stock Option Accounting Reform Act

Introduced: November 19, 2003 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 19, 2003
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 19, 2003
Sponsor introductory remarks on measure. (CR S15188-15190)
Nov 19, 2003
Introduced in Senate
 Plain-English summary Congressional Research Service

Stock Option Accounting Reform Act - Amends the Securities Exchange Act of 1934 to require an issuer of registered securities to show as an expense in its mandatory annual report the fair value of all stock purchase options granted to certain of its senior executive officers after December 31, 2004.

Exempts small business issuers from such requirement.

Amends the Securities Act of 1933 to require reporting of: (1) stock option expenses as a reduction of the total expense in the fiscal year in which they expire or are forfeited; and (2) as income any excess by which such reduction exceeds total option expenses for any fiscal year.

Requires any accounting principle recognized as "generally accepted" by the Securities and Exchange Commission (SEC) regarding the expensing of stock purchase options to comply with this Act. Denies recognition to any such accounting principle until the Secretaries of Commerce and of Labor complete a joint study on the economic impact of mandatory expensing of all employee stock options.

What's happening now November 19, 2003

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 2 Republican 2