3.0.0 6851 2023-01-11T13:42:55Z 2023-01-11T13:42:55Z House HR 2020-05-13 116 [Congressional Record Volume 166, Number 90 (Wednesday, May 13, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. OCASIO-CORTEZ:H.R. 6851.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H1999]]]> hsba00 Financial Services Committee House Standing Referred to 2020-05-13T13:32:30Z 2020-05-13 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-05-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-05-13 Introduced in House IntroReferral 1000 9 Library of Congress O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 N Commerce Cardiovascular and respiratory health Corporate finance and management Emergency medical services and trauma care Employee benefits and pensions Government lending and loan guarantees Infectious and parasitic diseases Securities Wages and earnings Commerce 00 2020-05-13 Introduced in House 2020-06-11T17:10:50Z This bill requires a major corporation that receives federal aid related to COVID-19 (i.e., coronavirus disease 2019) to make an annual grant of equity to its employees until all such federal aid is repaid.

A major corporation is a corporation that, among other things, has its securities traded on a national securities exchange, has to register its securities with the Securities and Exchange Commission, and has an aggregate market value of $75 million.

The number of shares of stock such a corporation must grant to its employees shall be determined according to a specified formula. Such grant (1) shall be a grant of whole shares of stock; (2) may not be conditioned on the purchase of company stock or any employee performance evaluations; and (3) shall be equal, in terms of voting and dividend rights, to the class of securities otherwise issued by the corporation that carries the highest such rights.

]]> To require major corporations receiving Federal aid related to COVID-19 to make annual payments of equity to employees of the corporation while such aid is outstanding, and for other purposes. Display Title To require major corporations receiving Federal aid related to COVID-19 to make annual payments of equity to employees of the corporation while such aid is outstanding, and for other purposes. Official Title as Introduced To require major corporations receiving Federal aid related to COVID-19 to make annual payments of equity to employees of the corporation while such aid is outstanding, and for other purposes. Introduced in House IH Introduced in House 2020-05-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6851ih/xml/BILLS-116hr6851ih.xml 2020-05-13 Referred to the House Committee on Financial Services. 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.