3.0.0 2546 2023-01-11T13:32:00Z 2023-01-11T13:32:00Z Senate S 2016-02-11 114 ssfi00 Finance Committee Senate Standing Referred to 2016-02-11T20:45:00Z 2016-02-11 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2016-02-11 Introduced in Senate IntroReferral 10000 9 Library of Congress W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2016-02-11 True M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2016-02-11 True Taxation Corporate finance and management Employee benefits and pensions Government lending and loan guarantees Income tax deferral Wages and earnings Taxation 00 2016-02-11 Introduced in Senate 2016-03-23T19:17:31Z 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.

]]> No Windfalls for Bailed Out Executives Act Display Title No Windfalls for Bailed Out Executives Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to require certain plans providing for nonqualified deferred compensation to require repayment of benefits to the employer in the event of extraordinary governmental assistance, and for other purposes. Introduced in Senate IS Short Titles as Introduced No Windfalls for Bailed Out Executives Act Introduced in Senate 2016-02-11T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2546is/xml/BILLS-114s2546is.xml 2016-02-11 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.