S 2546
114th Congress
Senate
Taxation
Corporate finance and management
Employee benefits and pensions
Government lending and loan guarantees
Income tax deferral
Wages and earnings
No Windfalls for Bailed Out Executives Act
Introduced: February 11, 2016
Introduced by:
Whitehouse, Sheldon
Democratic
· Rhode Island
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 11, 2016
Read twice and referred to the Committee on Finance.
Feb 11, 2016
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1