[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5519 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 5519

  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.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 14, 2023

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

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                                 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''.

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:
    ``(t) 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.''.
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