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No Bonuses Ahead of Bankruptcy Filing Act of 2020

2/8/2022, 11:16 PM

Congressional Summary of HR 7279

No Bonuses Ahead of Bankruptcy Filing Act of 2020

This bill prohibits debtors in bankruptcy proceedings from paying bonuses to certain individuals for two years, including insiders (such as relatives) and highly compensated employees.

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Current Status of Bill HR 7279

Bill HR 7279 is currently in the status of Bill Introduced since June 18, 2020. Bill HR 7279 was introduced during Congress 116 and was introduced to the House on June 18, 2020.  Bill HR 7279's most recent activity was Referred to the House Committee on the Judiciary. as of June 18, 2020

Bipartisan Support of Bill HR 7279

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7279

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Bankruptcy
- Corporate finance and management
- Wages and earnings

Alternate Title(s) of Bill HR 7279

No Bonuses Ahead of Bankruptcy Filing Act of 2020
To amend title 11 of the United States Code to prohibit the payment of bonuses to highly compensated individuals employed by the debtor and insiders of the debtor to perform services during the bankruptcy case, and for other purposes.
No Bonuses Ahead of Bankruptcy Filing Act of 2020

Comments

Sponsors and Cosponsors of HR 7279

W. Gregory Steube
W. Gregory Steube
FloridaRepublican

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