H.R. 5088 (107th): Executive Accountability Act of 2002

Introduced:
Jul 10, 2002 (107th Congress, 2001–2002)
Status:
Died (Referred to Committee)
Sponsor
Robert Matsui
Representative for California's 5th congressional district
Party
Democrat
Text
Read Text »
Last Updated
Jul 10, 2002
Length
13 pages
 
Status

This bill was introduced on July 10, 2002, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 10, 2002
Referred to Committee Jul 10, 2002
 
Full Title

To amend the Internal Revenue Code of 1986 to encourage more responsible corporate governance.

Summary

No summaries available.

Cosponsors
17 cosponsors (17D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


7/10/2002--Introduced.
Executive Accountability Act of 2002 - Amends the Internal Revenue Code to negate, in specified cases, the performance-based compensation exception to the $1,000,000 limitation on deductible compensation paid by publicly held corporations.Includes in gross income funded deferred compensation of a corporate insider if the insider's corporation funds its defined contribution plan with employer stock, with specified exceptions.Includes in gross income the net unrealized built-in gain on options held by a corporate insider to acquire stock in an expatriate corporation or in any member of an expanded affiliated group which includes such corporation.Applies the golden parachute excise tax to certain cases of deferred compensation paid by a corporation to a corporate insider after such individual has left the firm if the stock value of the corporation has recently suffered a major decline or the corporation has recently declared bankruptcy.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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