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- S.1006
S.1006: Excessive Pay Shareholder Approval Act
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about finance and financial sector
- Introduced May 7, 2009
- Latest Major Action May 7, 2009
Bill Sponsor
Bill Summary
Excessive Pay Shareholder Approval Act - Amends the Securities Exchange Act of 1934 to prohibit the compensation for an employee of an issuer of securities in any single taxable year from exceeding 100 times the average compensation for services performed by all the issuer's employees during such taxable year. Allows higher compensation only if at least 60% of the shareholders have voted to approve it (through a proxy or consent or...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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| May 7, 2009 |
Introduced in the Senate by Richard J. Durbin (D-Ill.) |