No Windfalls for Bailed Out Executives Act

Summary

No Windfalls for Bailed Out Executives Act This bill amends the Internal Revenue Code to deny deferred compensation to, or to require repayment of deferred compensation received by, key employees, members of the board of directors or other officers of a corporation, or any other employee having annual compensation of more than $1 million during any 36-month period in which their employer receives extraordinary assistance from the federal government. The bill defines "extraordinary governmental assistance" as grants, loans, loan guarantees, or other assistance to an employer that is intended to prevent such employer from becoming imminently insolvent or to cure such insolvency.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 11 February 2016

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 11 February 2016

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• Introduced in Senate

  summary · EN · 11 February 2016

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