U.S. Congress - H.R.1664 Grayson-Himes Pay For Performance Act of 2009
H.R.1664 - Grayson-Himes Pay For Performance Act of 2009
To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. view all titles (2)
All Bill Titles
- Official: To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards. as introduced.
- Popular: Grayson-Himes Pay For Performance Act of 2009 as introduced.
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| Latest Amendment | Status | Purpose View All Amendments [7] |
|---|---|---|
| H.Amdt63 | Pass | An amendment numbered 1 printed in House Report 111-71 to further clarifiy that an institution does not become subject to the limitations on compensation in this bill as a result of doing business with an institution that has received a direct capital investment under either the TARP or HERA. Would exempt severance pay from coverage if the payment is made in the ordinary course to an employee who has been with the institution at least 5 years prior to dismissal, as long as that payment is not greater than the employees annual salary or $250,000. Would require the compensation data that an institution must report annually to the Treasury to include contributions made for the benefit of an employees immediate family members. Would create a Commission on Executive Compensation to study the executive compensation system for recipients of direct capital investments under the TARP and make recommendations for legislative and regulatory action. |
| H.Amdt64 | Pass | An amendent numbered 2 printed in House Report 111-71 to allow the Treasury Secretary to exempt financial institutions receiving TARP funds under a certain threshold. |
| H.Amdt65 | Fail | An amendment numbered 3 printed in House Report 111-71 to exempt from compensation standards any institutions that receive TARP funding or payment agreements entered into before the enactment of this bill. |
| Latest Actions View All Actions [62] | |
|---|---|
| Mar 22nd | Sponsor introductory remarks on measure. (CR E742) |
| Mar 23rd | |
| Mar 23rd | Referred to the House Committee on Financial Services. |
Latest Vote
Result: Passed - April 01, 2009
Roll call number 182 in the House
Question: On Passage: H R 1664 To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards
Required percentage of 'Aye' votes: 1/2 (50%)
Percentage of 'aye' votes:
57%
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