H.R. 5432 (107th): To amend the Internal Revenue Code of 1986 to require the same holding period for company stock acquired upon exercise of options as is applicable to company stock in its 401(k) plan, to require disclosure to shareholders of the amount of corporate perks provided to retired executives, and to provide parity for secured retirement benefits between the rank and file and executives.

Sep 24, 2002 (107th Congress, 2001–2002)
Died (Referred to Committee)
Robert Matsui
Representative for California's 5th congressional district
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Last Updated
Sep 24, 2002
13 pages

This bill was introduced on September 24, 2002, in a previous session of Congress, but was not enacted.

Introduced Sep 24, 2002
Referred to Committee Sep 24, 2002

No summaries available.

Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

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

Amends the Internal Revenue Code to:
(1) increase, for a corporate insider, the applicable tax by 50 percent of the amount realized by such insider from the disqualified disposition of stock (a sale violating specified restrictions) acquired by such corporate insider upon the exercise of a stock option granted by the corporation;
(2) increase, for a publicly traded corporation, the applicable tax by 50 percent of the net cost to the corporation of personal perks provided to a retired executive of the corporation; and
(3) include in the gross income of a corporate insider funded deferred compensation.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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