[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1188 Reported in House (RH)]

<DOC>





                                                  Union Calendar No. 38
117th CONGRESS
  1st Session
                                H. R. 1188

                          [Report No. 117-55]

  To amend the Securities Exchange Act of 1934 to require issuers to 
disclose information on pay raises made to executives and non-executive 
                   employees, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 18, 2021

Ms. Velazquez introduced the following bill; which was referred to the 
                    Committee on Financial Services

                              June 8, 2021

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
    [For text of introduced bill, see copy of bill as introduced on 
                           February 18, 2021]


_______________________________________________________________________

                                 A BILL


 
  To amend the Securities Exchange Act of 1934 to require issuers to 
disclose information on pay raises made to executives and non-executive 
                   employees, and for other purposes.


 


    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 ``Greater Accountability in Pay Act of 
2021''.

SEC. 2. PAY RAISE DISCLOSURES.

    Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) 
is amended by adding at the end the following:
    ``(s) Pay Raise Disclosures.--An issuer required to file an annual 
report under this section or section 15(d), that is not an emerging 
growth company, shall include in such report--
            ``(1) the percentage increase in the median of the annual 
        total compensation of all executive officers (as such term is 
        defined in section 240.3b-7 of title 17, Code of Federal 
        Regulations) of the issuer over the last completed fiscal year;
            ``(2) the percentage increase in the median of the annual 
        total compensation of all employees of the issuer, excluding 
        executive officers, over the last completed fiscal year;
            ``(3) the ratio of the percentage described in paragraph 
        (1) to the percentage described in paragraph (2);
            ``(4) a comparison of the percentage described in paragraph 
        (1) to the percentage change over the same period in the 
        Consumer Price Index for All Urban Consumers published by the 
        Bureau of Labor Statistics of the Department of Labor; and
            ``(5) a comparison of the percentage described in paragraph 
        (2) to the percentage change over the same period in the 
        Consumer Price Index for All Urban Consumers published by the 
        Bureau of Labor Statistics of the Department of Labor.''.
                                                  Union Calendar No. 38

117th CONGRESS

  1st Session

                               H. R. 1188

                          [Report No. 117-55]

_______________________________________________________________________

                                 A BILL

  To amend the Securities Exchange Act of 1934 to require issuers to 
disclose information on pay raises made to executives and non-executive 
                   employees, and for other purposes.

_______________________________________________________________________

                              June 8, 2021

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed