3.0.0 1664 2023-01-11T13:19:37Z 2023-01-11T13:19:37Z House H HR 2009-03-23 111 hsba00 Financial Services Committee House Standing Reported by 2009-03-30T22:53:37Z Markup by 2009-03-26T14:58:24Z Referred to 2009-03-23T16:32:48Z H. Rept. 111-64 Providing for consideration of the bill (H.R. 1664) to amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 111 306 HRES 2009-04-01 Motion to reconsider laid on the table Agreed to without objection. 14:17:28 Procedurally-related House 2009-04-23 Senate Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 50. Calendars 2009-04-22 Senate Read the first time. Placed on Senate Legislative Calendar under Read the First Time. Calendars 2009-04-02 Senate Received in the Senate. IntroReferral 2009-04-01 18:24:43 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2009-04-01 18:24:42 On passage Passed by recorded vote: 247 - 171, 1 Present (Roll no. 182). Floor H37100 2 House floor actions 182 https://clerk.house.gov/evs/2009/roll182.xml House 111 2009-04-01T22:24:42Z 1 2009-04-01 18:24:42 Passed/agreed to in House: On passage Passed by recorded vote: 247 - 171, 1 Present (Roll no. 182). Floor 8000 9 Library of Congress 182 https://clerk.house.gov/evs/2009/roll182.xml House 111 2009-04-01T22:24:42Z 1 2009-04-01 18:07:22 The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H4294-4295) Floor H34400 2 House floor actions 2009-04-01 18:06:47 The previous question was ordered pursuant to the rule. (consideration: CR H4309) Floor H35000 2 House floor actions 2009-04-01 18:06:46 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1664. Floor H32600 2 House floor actions 2009-04-01 17:26:09 UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed. Floor H8D000 2 House floor actions 2009-04-01 17:25:02 POSTPONED PROCEEDINGS - At the conclusion of debate on the Dahlkemper amendment the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Mr. Frank (MA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2009-04-01 17:10:59 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Dahlkemper amendment. Floor H8D000 2 House floor actions 2009-04-01 17:00:06 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the DeFazio amendment. Floor H8D000 2 House floor actions 2009-04-01 16:54:07 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Bilirakis amendment. Floor H8D000 2 House floor actions 2009-04-01 16:53:06 POSTPONED PROCEEDINGS - At the conclusion of debate on the Bean amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Ms. Bean demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2009-04-01 16:41:59 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Bean amendment. Floor H8D000 2 House floor actions 2009-04-01 16:23:28 DEBATE - Pursuant ot the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Meeks (NY) amendment. Floor H8D000 2 House floor actions 2009-04-01 16:12:49 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Cardoza amendment. Floor H8D000 2 House floor actions 2009-04-01 15:48:00 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 20 minutes of debate on the Frank amendment. Floor H8D000 2 House floor actions 2009-04-01 14:39:23 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1664. Floor H8D000 2 House floor actions 2009-04-01 14:39:22 The Speaker designated the Honorable Jesse L. Jackson Jr. to act as Chairman of the Committee. Floor H32400 2 House floor actions 2009-04-01 14:39:21 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 306 and Rule XVIII. Floor H32020 2 House floor actions 2009-04-01 14:38:32 Rule provides for consideration of H.R. 1664 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. Floor H8D000 2 House floor actions 2009-04-01 14:38:31 Considered under the provisions of rule H. Res. 306. (consideration: CR H4287-4310) Floor H30000 2 House floor actions 2009-04-01 14:17:27 Rule H. Res. 306 passed House. Floor H1L220 2 House floor actions 2009-03-31 18:48:39 Rules Committee Resolution H. Res. 306 Reported to House. Rule provides for consideration of H.R. 1664 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. Floor H1L210 2 House floor actions 2009-03-30 Placed on the Union Calendar, Calendar No. 28. Calendars H12410 2 House floor actions U00028 2009-03-30 Reported (Amended) by the Committee on Financial Services. H. Rept. 111-64. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2009-03-30 Reported (Amended) by the Committee on Financial Services. H. Rept. 111-64. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2009-03-26 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 38 - 22. Committee 2009-03-26 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2009-03-23 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-03-23 Sponsor introductory remarks on measure. (CR E742) IntroReferral B00100 9 Library of Congress 2009-03-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-03-23 Introduced in House IntroReferral 1000 9 Library of Congress G000556 Rep. Grayson, Alan [D-FL-8] Alan Grayson D FL 8 N H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2009-03-23 True L000551 Rep. Lee, Barbara [D-CA-9] BARBARA LEE D CA 9 2009-03-23 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2009-03-23 True E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2009-03-23 True O000107 Rep. Ortiz, Solomon P. [D-TX-27] SOLOMON ORTIZ D TX P. 27 2009-03-23 True P000600 Rep. Perriello, Thomas S.P. [D-VA-5] Thomas Perriello D VA S.P. 5 2009-03-23 True J000032 Rep. Jackson-Lee, Sheila [D-TX-18] SHEILA JACKSON-LEE D TX 18 2009-03-23 True C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2009-03-23 True F000455 Rep. Fudge, Marcia L. [D-OH-11] Marcia Fudge D OH L. 11 2009-03-30 False 2009-03-30T04:00:00Z H.R. 1664, A bill to amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards http://www.cbo.gov/publication/20548 <p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on March 26, 2009 </p> 2009-03-30T04:00:00Z H.R. 1664, A bill to amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards https://www.cbo.gov/publication/20548 Cost estimate for the bill as ordered reported by the House Committee on Financial Services on March 26, 2009 Finance and Financial Sector Advisory bodies Congressional oversight Corporate finance and management Financial crises and stabilization Financial services and investments Government corporations and government-sponsored enterprises Government information and archives Government lending and loan guarantees Securities Wages and earnings Finance and Financial Sector 00 2009-03-23 Introduced in House 2009-03-30T19:25:57Z Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit a financial institution that receives or has received a capital investment under the Act (or with respect to the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], or a federal home loan bank, under the Housing and Economic Recovery Act of 2008) from making a compensation payment to any executive or employee under any pre-existing compensation arrangement, or from entering into a new compensation payment arrangement, while that capital investment remains outstanding, if such compensation: (1) is unreasonable or excessive according to standards established by the Secretary of the Treasury; or (2) includes any bonus, retention payment, or other supplemental payment not directly based on performance-based measures prescribed in such standards.

Instructs the Secretary to establish standards governing: (1) unreasonable and excessive compensation; and (2) performance-based measures that a financial institution must apply when determining whether it may provide a bonus or retention payment.

]]> 17 2009-03-23 Reported to House with amendment(s) 2009-03-31T20:04:58Z Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit a financial institution that receives or has received a direct capital investment under the Troubled Asset Relief Program (TARP) (or with respect to the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], or a federal home loan bank, under the Housing and Economic Recovery Act of 2008) from making a compensation payment (other than a longevity bonus or a payment in the form of restricted stock) to an executive or employee under a pre-existing compensation arrangement, or from entering into a new compensation payment arrangement, while that capital investment remains outstanding, if such compensation: (1) is unreasonable or excessive according to standards established by the Secretary of the Treasury in consultation with the Chairperson of the Congressional Oversight Panel; or (2) includes any bonus or other supplemental payment not directly based upon such standards.

Declares such prohibition inapplicable to an institution that did business with a recipient of a direct capital investment under the TARP.

Instructs the Secretary, with the approval of the agencies that are members of the Federal Financial Institutions Examination Council, and in consultation with the Chairperson of the Congressional Oversight Panel, to establish standards governing: (1) unreasonable and excessive compensation; and (2) performance-based measures that a financial institution must apply when determining whether it may provide a bonus or retention payment.

Requires financial institutions subject to this Act to report annually to the Secretary how many officers, directors, and employees received or will receive total compensation over each of five specified thresholds in that fiscal year.

Requires such report to distinguish amounts an institution considers to be a bonus and the reason for such distinction.

Defines total compensation as all cash payments (including without limitation salary, bonus, and retention payments), all transfers of property, stock options, sales of stock, and all contributions by the company (or its affiliates) for a person's benefit.

States that the identity of persons receiving compensation in such amounts shall not be required in such reports.

Directs the Secretary to make such reports available on the Internet.

Requires a financial institution, while subject to this Act, to issue: (1) a retrospective annual report for 2008; and (2) both a prospective and retrospective annual report for each subsequent calendar year.

States that, for a financial institution that has received or receives a direct capital investment under TARP, while such investment remains outstanding, no otherwise prohibited bonus or other supplemental payment may be paid to employees or executives without regard to when the arrangement to pay such a bonus was entered into.

]]> 36 2009-04-01 Passed House amended 2009-04-08T21:27:04Z (Sec. 1) Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit a financial institution that receives or has received a direct capital investment under the Troubled Asset Relief Program (TARP) (or with respect to the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], or a federal home loan bank, under the Housing and Economic Recovery Act of 2008) from making a compensation payment (other than a longevity bonus or a payment in the form of restricted stock) to an executive or employee under a preexisting compensation arrangement, or from entering into a new compensation payment arrangement, while that capital investment remains outstanding, if such compensation: (1) is unreasonable or excessive according to standards established by the Secretary of the Treasury in consultation with the Chairperson of the Congressional Oversight Panel; or (2) includes any bonus or other supplemental payment, whether payable before employment, during employment, or after termination of employment, that is not directly based upon such standards.

Declares such prohibition inapplicable to an institution that did business with a recipient of a direct capital investment under the TARP, or under amendments made by the Housing and Economic Recovery Act of 2008.

Instructs the Secretary, with the approval of the agencies that are members of the Federal Financial Institutions Examination Council, and in consultation with the Chairperson of the Congressional Oversight Panel, to establish standards governing: (1) unreasonable and excessive compensation; and (2) performance-based measures that a financial institution must apply when determining whether it may provide a bonus or retention payment.

Excludes from the meaning of compensation payment under this Act any severance payment paid upon the employee's dismissal by an employer in the ordinary course of business to an employee who has been employed for a minimum of five years, unless such severance payment is greater than the employee's annual salary or $250,000.

States that the prohibition against certain compensation not based upon performance standards does not apply to a financial institution that has entered into an agreement with the Secretary to repay the United States all outstanding amounts of any direct capital investment or investments it has received under this Act. Declares, however, that if an institution defaults on such an agreement, the Secretary shall require the institution to surrender to the Treasury the compensation payments that would have been subject to such prohibition.

Requires financial institutions subject to this Act to report annually to the Secretary how many officers, directors, and employees received or will receive total compensation over each of five specified thresholds in that fiscal year.

Requires such report to distinguish amounts an institution considers to be a bonus and the reason for such distinction. Authorizes the Secretary to exempt community financial institutions from the requirements of this Act.

Defines total compensation as all cash payments (including without limitation salary, bonus, and retention payments), all transfers of property, stock options, sales of stock, and all contributions by the company (or its affiliates) for a person's benefit or for the benefit of that person's immediate family members.

States that the identity of persons receiving compensation in such amounts shall not be required in such reports.

Directs the Secretary to make such reports available on the Internet.

Requires a financial institution, while subject to this Act, to issue: (1) a retrospective annual report for 2008; and (2) both a prospective and retrospective annual report for each subsequent calendar year.

States that, for a financial institution that has received or receives a direct capital investment under TARP, while such investment remains outstanding, no otherwise prohibited bonus or other supplemental payment may be paid to employees or executives without regard to when the arrangement to pay such a bonus was entered into.

(Sec. 2) Establishes the Commission on Executive Compensation to study and report to the President and Congress on the executive compensation system for recipients of a direct capital investment under the TARP. Requires the report's recommendations for executive action and voluntary recipient actions to be accompanied by any separate minority view recommendations that members of the Commission wish to make, but that were not agreed upon by the Commission for the report.

Authorizes appropriations.

]]> To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. Display Title To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. Official Title as Introduced To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 69 111 HAMDT Amendment clarifies the definition of executive compensation to include payments made before, during and after employment, and makes explicit that the definition of compensation considered under the standards to be prepared by the Secretary includes payment of money, transfers of property or provision of services. An amendment numbered 7 printed in House Report 111-71 to clarify the definition of executive compensation to include payments made before, during and after employment, and would make explicit that the definition of compensation considered under the standards to be prepared by the Secretary to include payment of money, transfers of property or provision of services. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the Dahlkemper amendment (A007) Agreed to by recorded vote: 246 - 180, 1 Present (Roll no. 181). 18:05:55 Roll no. 181 https://clerk.house.gov/evs/2009/roll181.xml D000608 Rep. Dahlkemper, Kathleen A. [D-PA-3] Kathleen Dahlkemper D PA A. 3 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 8 2009-04-01 18:05:55 On agreeing to the Dahlkemper amendment (A007) Agreed to by recorded vote: 246 - 180, 1 Present (Roll no. 181). Floor H32111 2 House floor actions 181 House 111 2009-04-01T22:05:55Z 1 https://clerk.house.gov/evs/2009/roll181.xml 2009-04-01 17:10:58 Amendment (A007) offered by Mrs. Dahlkemper. (consideration: CR H4306-4308, H4309; text: CR H4306) Floor H3A100 2 House floor actions 2009-04-01 17:10:58 House amendment offered/reported by : Amendment (A007) offered by Mrs. Dahlkemper.(consideration: CR H4306-4308, H4309; text: CR H4306) NotUsed 71500 9 Library of Congress 2009-04-01 18:05:55 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 181 House 111 2009-04-01T22:05:55Z 1 https://clerk.house.gov/evs/2009/roll181.xml 2009-04-01 18:05:55 House amendment agreed to: On agreeing to the Dahlkemper amendment (A007) Agreed to by recorded vote: 246 - 180, 1 Present (Roll no. 181). Floor 72000 9 Library of Congress 181 House 111 2009-04-01T22:05:55Z 1 https://clerk.house.gov/evs/2009/roll181.xml 2009-04-01 18:05:55 Roll call votes on amendments in House Floor 75000 9 Library of Congress 181 House 111 2009-04-01T22:05:55Z 1 https://clerk.house.gov/evs/2009/roll181.xml 2009-04-01 House amendment offered Floor 71000 9 Library of Congress 68 111 HAMDT Amendment sought to amend the Emergency Economic Stabilization Act of 2008 to provide that the shareholder vote on executive compensation packages would be binding upon the board of directors. An amendment numbered 6 printed in House Report 111-71 to amend the Emergency Economic Stabilization Act of 2008 to make the shareholder vote on executive compensation packages binding upon the board of directors. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the DeFazio amendment (A006) Failed by voice vote. 17:09:57 D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 7 2009-04-01 17:09:57 On agreeing to the DeFazio amendment (A006) Failed by voice vote. Floor H32111 2 House floor actions 2009-04-01 17:00:05 Amendment (A006) offered by Mr. DeFazio. (consideration: CR H4305-4306; text: CR H4305) Floor H3A100 2 House floor actions 2009-04-01 17:09:57 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 2009-04-01 17:09:57 House amendment not agreed to: On agreeing to the DeFazio amendment (A006) Failed by voice vote. Floor 73000 9 Library of Congress 2009-04-01 17:00:05 House amendment offered/reported by : Amendment (A006) offered by Mr. DeFazio.(consideration: CR H4305-4306; text: CR H4305) NotUsed 71500 9 Library of Congress 2009-04-01 House amendment offered Floor 71000 9 Library of Congress 67 111 HAMDT Amendment clarifies that an institution which is not a TARP recipient will not be subject to the requirements of the bill as a result of doing business with a TARP recipient. An amendment numbered 5 printed in House Report 111-71 to clarify that an institution that is not a TARP recipient will not be subject to the requirements of the bill as a result of doing business with a TARP recipient. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the Bilirakis amendment (A005) Agreed to by voice vote. 16:59:15 B001257 Rep. Bilirakis, Gus M. [R-FL-9] Gus Bilirakis R FL M. 9 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 7 2009-04-01 16:59:15 On agreeing to the Bilirakis amendment (A005) Agreed to by voice vote. Floor H32111 2 House floor actions 2009-04-01 16:54:06 Amendment (A005) offered by Mr. Bilirakis. (consideration: CR H4304-4305; text: CR H4304) Floor H3A100 2 House floor actions 2009-04-01 16:54:06 House amendment offered/reported by : Amendment (A005) offered by Mr. Bilirakis.(consideration: CR H4304-4305; text: CR H4304) NotUsed 71500 9 Library of Congress 2009-04-01 16:59:15 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2009-04-01 16:59:15 House amendment agreed to: On agreeing to the Bilirakis amendment (A005) Agreed to by voice vote. Floor 72000 9 Library of Congress 2009-04-01 House amendment offered Floor 71000 9 Library of Congress 66 111 HAMDT Amendment allows institutions that enter into a payment schedule with Treasury on terms set by Treasury to no longer be subject to the bonus and compensation restrictions created by the Act. An amendment numbered 4 printed in House Report 111-71 to allow institutions that enter into a payment schedule with Treasury on terms set by Treasury to no longer be subject to the bonus and compensation restrictions created by the Act. If an institution defaults on its payment schedule, any bonuses and compensation that exceeds the regulations promulgated in accordance to the Act would be subject to clawback. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the Bean amendment (A004) Agreed to by recorded vote: 228 - 198, 1 Present (Roll no. 180). 17:58:15 Roll no. 180 https://clerk.house.gov/evs/2009/roll180.xml B001253 Rep. Bean, Melissa L. [D-IL-8] Melissa Bean D IL L. 8 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 8 2009-04-01 17:58:15 On agreeing to the Bean amendment (A004) Agreed to by recorded vote: 228 - 198, 1 Present (Roll no. 180). Floor H32111 2 House floor actions 180 House 111 2009-04-01T21:58:15Z 1 https://clerk.house.gov/evs/2009/roll180.xml 2009-04-01 16:41:58 Amendment (A004) offered by Ms. Bean. (consideration: CR H4302-4304, H4308-4309; text: CR H4302) Floor H3A100 2 House floor actions 2009-04-01 16:41:58 House amendment offered/reported by : Amendment (A004) offered by Ms. Bean.(consideration: CR H4302-4304, H4308-4309; text: CR H4302) NotUsed 71500 9 Library of Congress 2009-04-01 17:58:15 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 180 House 111 2009-04-01T21:58:15Z 1 https://clerk.house.gov/evs/2009/roll180.xml 2009-04-01 17:58:15 Roll call votes on amendments in House Floor 75000 9 Library of Congress 180 House 111 2009-04-01T21:58:15Z 1 https://clerk.house.gov/evs/2009/roll180.xml 2009-04-01 17:58:15 House amendment agreed to: On agreeing to the Bean amendment (A004) Agreed to by recorded vote: 228 - 198, 1 Present (Roll no. 180). Floor 72000 9 Library of Congress 180 House 111 2009-04-01T21:58:15Z 1 https://clerk.house.gov/evs/2009/roll180.xml 2009-04-01 House amendment offered Floor 71000 9 Library of Congress 65 111 HAMDT Amendment exempts from compensation standards any institutions that receive TARP funding or payment agreements entered into before the enactment of the bill. An amendment numbered 3 printed in House Report 111-71 to exempt from compensation standards any institutions that receive TARP funding or payment agreements entered into before the enactment of this bill. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the Meeks (NY) amendment Failed by voice vote. 16:40:22 M001137 Rep. Meeks, Gregory W. [D-NY-6] GREGORY MEEKS D NY W. 6 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 7 2009-04-01 16:40:22 On agreeing to the Meeks (NY) amendment Failed by voice vote. Floor H32111 2 House floor actions 2009-04-01 16:23:27 Amendment (A003) offered by Mr. Meeks (NY). (consideration: CR H4300-4302; text: CR H4300) Floor H3A100 2 House floor actions 2009-04-01 16:23:27 House amendment offered/reported by : Amendment (A003) offered by Mr. Meeks (NY).(consideration: CR H4300-4302; text: CR H4300) NotUsed 71500 9 Library of Congress 2009-04-01 16:40:22 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 2009-04-01 16:40:22 House amendment not agreed to: On agreeing to the Meeks (NY) amendment Failed by voice vote. Floor 73000 9 Library of Congress 2009-04-01 House amendment offered Floor 71000 9 Library of Congress 64 111 HAMDT Amendment allows the Treasury Secretary to exempt financial institutions receiving TARP funds under a specified threshold. An amendent numbered 2 printed in House Report 111-71 to allow the Treasury Secretary to exempt financial institutions receiving TARP funds under a certain threshold. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the Cardoza amendment (A002) Agreed to by voice vote. 16:22:40 C001050 Rep. Cardoza, Dennis A. [D-CA-18] Dennis Cardoza D CA A. 18 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 7 2009-04-01 16:22:40 On agreeing to the Cardoza amendment (A002) Agreed to by voice vote. Floor H32111 2 House floor actions 2009-04-01 16:12:47 Amendment (A002) offered by Mr. Cardoza. (consideration: CR H4298-4300; text: CR H4298-4299) Floor H3A100 2 House floor actions 2009-04-01 16:12:47 House amendment offered/reported by : Amendment (A002) offered by Mr. Cardoza.(consideration: CR H4298-4300; text: CR H4298-4299) NotUsed 71500 9 Library of Congress 2009-04-01 16:22:40 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2009-04-01 16:22:40 House amendment agreed to: On agreeing to the Cardoza amendment (A002) Agreed to by voice vote. Floor 72000 9 Library of Congress 2009-04-01 House amendment offered Floor 71000 9 Library of Congress 63 111 HAMDT Amendment clarifies that an institution does not become subject to the limitations on compensation in this bill as a result of doing business with an institution that has received a direct capital investment under either the TARP or HERA; exempts severance pay from coverage if the payment is made in the ordinary course to an employee who has been with the institution at least 5 years prior to dismissal, as long as that payment is not greater than the employees annual salary or $250,000; requires that the compensation data which an institution must report annually to the Treasury must include contributions made for the benefit of an employees immediate family members; and creates a Commission on Executive Compensation to study the executive compensation system for recipients of direct capital investments under the TARP and make recommendations for legislative and regulatory action. An amendment numbered 1 printed in House Report 111-71 to further clarifiy that an institution does not become subject to the limitations on compensation in this bill as a result of doing business with an institution that has received a direct capital investment under either the TARP or HERA. Would exempt severance pay from coverage if the payment is made in the ordinary course to an employee who has been with the institution at least 5 years prior to dismissal, as long as that payment is not greater than the employees annual salary or $250,000. Would require the compensation data that an institution must report annually to the Treasury to include contributions made for the benefit of an employees immediate family members. Would create a Commission on Executive Compensation to study the executive compensation system for recipients of direct capital investments under the TARP and make recommendations for legislative and regulatory action. 2022-02-03T06:10:17Z 2009-04-01 On agreeing to the Frank (MA) amendment (A001) Agreed to by voice vote. 16:11:58 F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2009-04-01T04:00:00Z House of Representatives 111 HR House H 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. 2023-01-11T13:19:37Z House Report 111-71 https://www.congress.gov/congressional-report/111th-congress/house-report/71 7 2009-04-01 16:11:58 On agreeing to the Frank (MA) amendment (A001) Agreed to by voice vote. Floor H32111 2 House floor actions 2009-04-01 15:47:41 Amendment (A001) offered by Mr. Frank (MA). (consideration: CR H4295-4298; text: CR H4295-4296; text as modified: CR H4296) Floor H3A100 2 House floor actions 2009-04-01 16:11:58 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2009-04-01 16:11:58 House amendment agreed to: On agreeing to the Frank (MA) amendment (A001) Agreed to by voice vote. Floor 72000 9 Library of Congress 2009-04-01 15:47:41 House amendment offered/reported by : Amendment (A001) offered by Mr. Frank (MA).(consideration: CR H4295-4298; text: CR H4295-4296; text as modified: CR H4296) NotUsed 71500 9 Library of Congress 2009-04-01 House amendment offered Floor 71000 9 Library of Congress Placed on Calendar Senate 2009-04-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1664pcs/xml/BILLS-111hr1664pcs.xml Engrossed in House 2009-04-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1664eh/xml/BILLS-111hr1664eh.xml Reported in House 2009-03-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1664rh/xml/BILLS-111hr1664rh.xml Introduced in House 2009-03-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1664ih/xml/BILLS-111hr1664ih.xml 2009-04-23 Read the second time. Placed on Senate Legislative Calendar under General Orders. 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