No Bonuses for Executives Act of 2022

Hozzl · 2022-12-29T13:34:08Z

Explore the details of House Bill 9155 No Bonuses for Executives Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/29/2022, 1:34 PM

Summary of Bill HR 9155

Bill 117 HR 9155, also known as the No Bonuses for Executives Act of 2022, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to prohibit the payment of bonuses to executives of companies that receive federal assistance during times of economic crisis or emergency.

The bill aims to address concerns about the misuse of taxpayer funds by companies that receive government assistance, particularly during times of financial instability. By prohibiting bonuses for executives of these companies, the bill seeks to ensure that federal funds are used responsibly and in the best interest of the public.

Under the provisions of the No Bonuses for Executives Act of 2022, companies that receive federal assistance would be prohibited from paying bonuses to their executives for a specified period of time. This would apply to both cash bonuses and stock-based compensation, and would help to prevent executives from profiting personally from government assistance. Overall, the No Bonuses for Executives Act of 2022 is aimed at promoting transparency and accountability in the use of federal funds, particularly during times of economic crisis. By prohibiting bonuses for executives of companies that receive government assistance, the bill seeks to ensure that taxpayer dollars are used effectively and responsibly.

Congressional Summary of HR 9155

No Bonuses for Executives Act of 2022

This bill imposes the alternative minimum tax on state regulated electric utilities that are in bankruptcy proceedings and that make incentive-based payments, other than salary, to any of their 13 highest compensated employees, and that own or lease infrastructure other than climate-resilient infrastructure (i.e., infrastructure capable of reducing the impact of major weather events and natural disasters).

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Current Status of Bill HR 9155

Bill HR 9155 is currently in the status of Bill Introduced since October 7, 2022. Bill HR 9155 was introduced during Congress 117 and was introduced to the House on October 7, 2022. Bill HR 9155's most recent activity was Referred to the House Committee on Ways and Means. as of October 7, 2022

Bipartisan Support of Bill HR 9155

Total Number of Sponsors

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 9155

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 9155

No Bonuses for Executives Act of 2022

To amend the Internal Revenue Code of 1986 to impose the alternative minimum tax on certain State regulated electric utilities that have not fully adopted climate-resilient infrastructure.