[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 181 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                 S. 181

To require a review of accounting treatment of stock option plans, and 
 the establishment of an appropriate stock option accounting principle 
                             within 1 year.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 16, 2003

 Mr. Levin (for himself and Mr. McCain) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require a review of accounting treatment of stock option plans, and 
 the establishment of an appropriate stock option accounting principle 
                             within 1 year.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stock Option Accounting Review 
Act''.

SEC. 2. REVIEW OF STOCK OPTION ACCOUNTING TREATMENT.

    Section 108 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7218, 116 
Stat. 768) is amended by adding at the end the following:
    ``(e) Stock Option Accounting Treatment.--The standard setting body 
described in section 19(b)(1) of the Securities Act of 1933 shall, for 
purposes of establishing generally accepted accounting principles--
            ``(1) review the accounting treatment of employee stock 
        options; and
            ``(2) not later than 1 year after the date of enactment of 
        this subsection, adopt an appropriate generally accepted 
        accounting principle for the treatment of employee stock 
        options.''.
                                 <all>