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4/1/2009--Passed House amended. (Sec. 1) Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit a financial institution that receives or has received a direct capital investment under the Troubled Asset Relief Program (TARP) (or with respect to the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], or a federal home loan bank, under the Housing and Economic Recovery Act of 2008) from making a compensation payment (other than a longevity bonus or a payment in the form of restricted stock) to an executive or employee under a preexisting compensation arrangement, or from entering into a new compensation payment arrangement, while that capital investment remains outstanding, if such compensation: (1) is unreasonable or excessive according to standards established by the Secretary of the Treasury in consultation with the Chairperson of the Congressional Oversight Panel; or (2) includes any bonus or other supplemental payment, whether payable before employment, during employment, or after termination of employment, that is not directly based upon such standards. Declares such prohibition inapplicable to an institution that did business with a recipient of a direct capital investment under the TARP, or under amendments made by the Housing and Economic Recovery Act of 2008.Instructs the Secretary, with the approval of the agencies that are members of the Federal Financial Institutions Examination Council, and in consultation with the Chairperson of the Congressional Oversight Panel, to establish standards governing: (1) unreasonable and excessive compensation; and (2) performance-based measures that a financial institution must apply when determining whether it may provide a bonus or retention payment. Excludes from the meaning of compensation payment under this Act any severance payment paid upon the employee's dismissal by an employer in the ordinary course of business to an employee who has been employed for a minimum of five years, unless such severance payment is greater than the employee's annual salary or $250,000. States that the prohibition against certain compensation not based upon performance standards does not apply to a financial institution that has entered into an agreement with the Secretary to repay the United States all outstanding amounts of any direct capital investment or investments it has received under this Act. Declares, however, that if an institution defaults on such an agreement, the Secretary shall require the institution to surrender to the Treasury the compensation payments that would have been subject to such prohibition. Requires financial institutions subject to this Act to report annually to the Secretary how many officers, directors, and employees received or will receive total compensation over each of five specified thresholds in that fiscal year. Requires such report to distinguish amounts an institution considers to be a bonus and the reason for such distinction. Authorizes the Secretary to exempt community financial institutions from the requirements of this Act. Defines total compensation as all cash payments (including without limitation salary, bonus, and retention payments), all transfers of property, stock options, sales of stock, and all contributions by the company (or its affiliates) for a person's benefit or for the benefit of that person's immediate family members. States that the identity of persons receiving compensation in such amounts shall not be required in such reports. Directs the Secretary to make such reports available on the Internet. Requires a financial institution, while subject to this Act, to issue: (1) a retrospective annual report for 2008; and (2) both a prospective and retrospective annual report for each subsequent calendar year.States that, for a financial institution that has received or receives a direct capital investment under TARP, while such investment remains outstanding, no otherwise prohibited bonus or other supplemental payment may be paid to employees or executives without regard to when the arrangement to pay such a bonus was entered into. (Sec. 2) Establishes the Commission on Executive Compensation to study and report to the President and Congress on the executive compensation system for recipients of a direct capital investment under the TARP. Requires the report's recommendations for executive action and voluntary recipient actions to be accompanied by any separate minority view recommendations that members of the Commission wish to make, but that were not agreed upon by the Commission for the report. Authorizes appropriations.

1240459200 2009-04-23 Fri Nov 13 16:58:08 -0600 2009 introduced 56139 'act':7 'pay':4 '2009':9 'hime':3 'grayson':2 'perform':6 'grayson-him':1 70987 true popular introduced 56139 'act':12 '2008':14 'base':24 'amend':2 'emerg':9 'econom':10 'excess':19 'execut':4 'provis':6 'stabil':11 'compens':5,20,22 'perform':26 'prohibit':16 'standard':27 'unreason':17 70632 false official calendar 56139 1240459200 Thu Apr 23 00:00:00 -0500 2009 202675 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 50. G000556 1958-03-13 3091 1605 Longworth House Office Building https://forms.house.gov/grayson/contact-form.shtml 8 202-225-0999 Alan 'd':4 '-8':6 'fl':5 'rep':1 'alan':2,7,9 'grayson':3,8,10 M 412276 Grayson Rep. Alan Grayson [D, FL-8] 1053 N00028418 5820 Democrat 202-225-2176 FL Alan Grayson 4.65384615384615 http://grayson.house.gov/ C001078 1950-03-30 1291 327 Cannon House Office Building https://forms.house.gov/connolly/contact-form.shtml 11 202-225-3071 Gerald 'd':4 'va':5 '-11':6 'rep':1 'gerald':2,7,9 'connolli':3,8,10 M 412272 Connolly E. Rep. Gerald Connolly [D, VA-11] 490 N00029891 3339 Democrat 202-0225-1492 VA Gerry Gerald Connolly 1.2 http://connolly.house.gov/ E000288 1963-08-04 7050 1130 Longworth House Office Building http://ellison.house.gov/index.php?option=com_content&task=view&id=87 5 202-225-4886 Keith 'd':4 '-5':6 'mn':5 'rep':1 'keith':2,7,9 'ellison':3,8,10 M 412215 Ellison Keith_Ellison Rep. Keith Ellison [D, MN-5] 2078 N00028257 8978 Democrat 202-225-4755 MN Keith Ellison 6.05882352941176 http://ww3.house.leg.state.mn.us/members/members.asp?district=58B RepKeithEllison F000455 928 1009 Longworth House Office Building https://forms.house.gov/fudge/contact-form.shtml 11 202-225-1339 Marcia 'd':4 'oh':5 '-11':6 'rep':1 'fudg':3,8,10 'marcia':2,7,9 F 412327 Fudge Rep. Marcia Fudge [D, OH-11] 222 N00030490 2485 Democrat 202-225-7032 OH Marcia Fudge 5.0 http://fudge.house.gov/ H001047 1966-07-05 273 214 Cannon House Office Building https://forms.house.gov/himes/contact-form.shtml 4 202-225-9629 James 'd':4 '-4':6 'ct':5 'rep':1 'hime':3,8,10 'jame':2,7,9 M 412282 Himes A. Rep. James Himes [D, CT-4] 13 N00029070 2987 Democrat 202-225-5541 CT James Himes 5.0 http://himes.house.gov/ J000032 1950-01-12 4369 2435 Rayburn House Office Building http://www.jacksonlee.house.gov/contact-form.shtml 18 202-225-3317 Sheila 'd':6 'tx':7 '-18':8 'lee':5,12,16 'rep':1 'sheila':2,9,13 'jackson':4,11,15 'jackson-le':3,10,14 F 400199 Jackson-Lee Sheila_Jackson-Lee Rep. Sheila Jackson-Lee [D, TX-18] 1872 N00005818 12536 Democrat 202-225-3816 Seventh Day Adventist TX Sheila Jackson-Lee 1.86046511627907 http://www.jacksonlee.house.gov/ L000551 1946-07-16 6596 2444 Rayburn House Office Building http://lee.house.gov/?sectionid=44&sectiontree=18,44 9 202-225-9817 Barbara 'd':4 '-9':6 'ca':5 'lee':3,8,10 'rep':1 'barbara':2,7,9 F 400237 Lee Barbara_Lee Rep. Barbara Lee [D, CA-9] 2655 N00008046 8768 Democrat 202-225-2661 Baptist CA Barbara Lee 4.36363636363636 http://lee.house.gov/ RepLee O000107 1938-06-03 1781 2110 Rayburn House Office Building http://www.house.gov/formortiz/issue.htm 27 202-226-1134 Solomon 'd':4 'tx':5 '-27':6 'rep':1 'ortiz':3,8,10 'solomon':2,7,9 M 400302 Ortiz Solomon_P._Ortiz P. Rep. Solomon Ortiz [D, TX-27] 725 N00005998 6052 Democrat 202-225-7742 Methodist TX Solomon Ortiz http://ortiz.house.gov/ P000600 1974-10-09 503 1520 Longworth House Building https://forms.house.gov/perriello/contact-form.shtml 5 202-225-5681 Thomas 'd':4 '-5':6 'va':5 'rep':1 'thoma':2,7,9 'perriello':3,8,10 M 412304 Perriello S. P. Rep. Thomas Perriello [D, VA-5] 48 N00029339 2984 Democrat 202-225-4711 VA Thomas Perriello 2.8 http://perriello.house.gov/ W000800 4342 1404 Longworth House Office Building http://www.house.gov/formwelch/issue_subscribe.htm 0 202-225-6790 Peter 'd':4 '-0':6 'vt':5 'rep':1 'peter':2,7,9 'welch':3,8,10 M 412239 Welch Peter_Welch Rep. Peter Welch [D, VT-0] 2461 N00000515 8136 Democrat 202-225-4115 VT Peter Welch 5.5 http://welch.house.gov/ calendar 56139 1240459200 Thu Apr 23 00:00:00 -0500 2009 202675 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 50. action 56139 1240372800 Wed Apr 22 00:00:00 -0500 2009 202674 Read the first time. Placed on Senate Legislative Calendar under Read the First Time. action 56139 1238644800 Thu Apr 02 00:00:00 -0500 2009 191050 Received in the Senate. vote 56139 1238621040 Wed Apr 01 18:24:00 -0500 2009 roll 190181 pass 5416 182 On passage Passed by recorded vote: 247 - 171, 1 Present (Roll no. 182). vote h action 56139 1238620020 Wed Apr 01 18:07:00 -0500 2009 190180 The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. action 56139 1238619960 Wed Apr 01 18:06:00 -0500 2009 190179 The previous question was ordered pursuant to the rule. action 56139 1238619960 Wed Apr 01 18:06:00 -0500 2009 190178 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1664. action 56139 1238617560 Wed Apr 01 17:26:00 -0500 2009 190177 UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed. action 56139 1238617500 Wed Apr 01 17:25:00 -0500 2009 190176 POSTPONED PROCEEDINGS - At the conclusion of debate on the Dahlkemper amendment the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Mr. Frank (MA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. action 56139 1238616600 Wed Apr 01 17:10:00 -0500 2009 190175 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Dahlkemper amendment. action 56139 1238616000 Wed Apr 01 17:00:00 -0500 2009 190174 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the DeFazio amendment. action 56139 1238615640 Wed Apr 01 16:54:00 -0500 2009 190173 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Bilirakis amendment. action 56139 1238615580 Wed Apr 01 16:53:00 -0500 2009 190172 POSTPONED PROCEEDINGS - At the conclusion of debate on the Bean amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Ms. Bean demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. action 56139 1238614860 Wed Apr 01 16:41:00 -0500 2009 190171 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Bean amendment. action 56139 1238613780 Wed Apr 01 16:23:00 -0500 2009 190170 DEBATE - Pursuant ot the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Meeks (NY) amendment. action 56139 1238613120 Wed Apr 01 16:12:00 -0500 2009 190169 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Cardoza amendment. action 56139 1238611680 Wed Apr 01 15:48:00 -0500 2009 190168 DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 20 minutes of debate on the Frank amendment. action 56139 1238607540 Wed Apr 01 14:39:00 -0500 2009 190165 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 306 and Rule XVIII. action 56139 1238607540 Wed Apr 01 14:39:00 -0500 2009 190167 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1664. action 56139 1238607540 Wed Apr 01 14:39:00 -0500 2009 190166 The Speaker designated the Honorable Jesse L. Jackson Jr. to act as Chairman of the Committee. action 56139 1238607480 Wed Apr 01 14:38:00 -0500 2009 190164 Rule provides for consideration of H.R. 1664 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. action 56139 1238607480 Wed Apr 01 14:38:00 -0500 2009 190163 Considered under the provisions of rule H. Res. 306. action 56139 1238606220 Wed Apr 01 14:17:00 -0500 2009 190162 Rule H. Res. 306 passed House. action 56139 1238536080 Tue Mar 31 18:48:00 -0500 2009 189899 Rules Committee Resolution H. Res. 306 Reported to House. Rule provides for consideration of H.R. 1664 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. calendar 56139 1238450040 Mon Mar 30 18:54:00 -0500 2009 189644 Placed on the Union Calendar, Calendar No. 28. action 56139 1238449980 Mon Mar 30 18:53:00 -0500 2009 189643 Reported (Amended) by the Committee on Financial Services. H. Rept. 111-64. calendar 56139 1238040000 Thu Mar 26 00:00:00 -0500 2009 189379 Ordered to be Reported (Amended) by the Yeas and Nays: 38 - 22. action 56139 1238040000 Thu Mar 26 00:00:00 -0500 2009 189378 Committee Consideration and Mark-up Session Held. action 56139 1237780800 Mon Mar 23 00:00:00 -0500 2009 188711 Referred to the House Committee on Financial Services. action 56139 1237780800 Mon Mar 23 00:00:00 -0500 2009 188710 Sponsor introductory remarks on measure. (CR E742) introduced 56139 1237780800 Mon Mar 23 00:00:00 -0500 2009 188709 12 247 56139 Wed Apr 01 17:23:00 -0500 2009 true 5416 false 171 182 82 1 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 false 1/2 Passed On Passage Wed Apr 01 18:06:32 -0500 2009 house 10 246 56139 Wed Apr 01 17:05:00 -0500 2009 true 5412 false 180 181 22 1 On Agreeing to the Amendment: Amendment 7 to H R 1664 false 1/2 Agreed to On Agreeing to the Amendment Wed Apr 01 18:05:56 -0500 2009 house 10 228 56139 Wed Apr 01 16:58:00 -0500 2009 false 5409 false 198 180 50 1 On Agreeing to the Amendment: Amendment 4 to H R 1664 true 1/2 Agreed to On Agreeing to the Amendment Wed Apr 01 18:05:07 -0500 2009 house