S 1476
113th Congress
Senate
Taxation
Administrative law and regulatory procedures
Corporate finance and management
Department of the Treasury
Income tax deductions
Wages and earnings
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 1, 2013
Read twice and referred to the Committee on Finance.
Aug 1, 2013
Sponsor introductory remarks on measure. (CR S6235-6236)
Aug 1, 2013
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1