I 111th CONGRESS 1st Session H. R. 1656 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.

1.

Short title

This Act may be cited as the Assisted Institution Bonus Repayment Act of 2009.

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. .