To establish requirements on accelerated filers receiving Federal aid related to COVID-19, to establish requirements on all corporations until Federal aid related to COVID-19 is repaid, and for other purposes.

2/9/2022, 3:56 AM

Congressional Summary of HR 6360

This bill establishes requirements for issuers of securities receiving aid in response to the COVID-19 (i.e., coronavirus disease 2019) emergency.

Issuers receiving aid must comply with specified requirements regarding paid leave, minimum wage, and limits on executive compensation. Until the end of the emergency period, issuers receiving aid must maintain preemergency workforce and compensation levels. Additionally, an issuer receiving aid may not provide executive bonuses, purchase its own company's stocks, pay out dividends to stockholders, or engage in lobbying until the issuer repays the aid.

Certain issuers receiving aid must (1) have one-third of their board of directors be elected by employees; and (2) provide additional disclosures including those regarding political expenditures, workforce composition, employee benefits, environmental impacts, federal aid, and financial performance.

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Current Status of Bill HR 6360

Bill HR 6360 is currently in the status of Bill Introduced since March 23, 2020. Bill HR 6360 was introduced during Congress 116 and was introduced to the House on March 23, 2020. Bill HR 6360's most recent activity was Referred to the House Committee on Financial Services. as of March 23, 2020

Bipartisan Support of Bill HR 6360

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6360

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Business records

- Cardiovascular and respiratory health

- Corporate finance and management

- Economic performance and conditions

- Elections, voting, political campaign regulation

- Emergency medical services and trauma care

- Employee benefits and pensions

- Employee hiring

- Employee leave

- Foreign and international corporations

- Government information and archives

- Health promotion and preventive care

- Infectious and parasitic diseases

- Interest, dividends, interest rates

- Labor standards

- Labor-management relations

- Minority employment

- Personnel records

- Public participation and lobbying

- Securities

- Temporary and part-time employment

- Unemployment

- Wages and earnings

- Women's employment

- Worker safety and health

Alternate Title(s) of Bill HR 6360

To establish requirements on accelerated filers receiving Federal aid related to COVID-19, to establish requirements on all corporations until Federal aid related to COVID-19 is repaid, and for other purposes.