[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1656 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1656

 To require TARP payments to be conditioned on the top 10 highest wage 
  earners at a company having repaid any bonuses received during the 
                        previous 5 fiscal years.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 19, 2009

 Mr. Rohrabacher (for himself, Mr. Gohmert, and Mr. Duncan) introduced 
 the following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To require TARP payments to be conditioned on the top 10 highest wage 
  earners at a company having repaid any bonuses received during the 
                        previous 5 fiscal years.

    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 ``Assisted Institution Bonus Repayment 
Act of 2009''.

SEC. 2. BONUS REPAYMENT REQUIRED FOR TARP ASSISTANCE.

    Section 111 of the Emergency Economic Stabilization Act of 2008 (12 
U.S.C. 5221) is amended by adding at the end the following new 
subsection:
    ``(e) Bonus Repayment Requirement.--Effective as of the date of the 
enactment of the Assisted Institution Bonus Repayment Act of 2009, a 
financial institution shall, prior to receiving assistance under this 
title, certify to the Secretary that the 10 most highly paid executives 
or employees of the institution have repaid to the institution any 
bonuses (as such term is defined by the Secretary) received from the 
institution by such executives or employees during the previous 5 
fiscal years.''.
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