Latest Action: 05/20/2008 - Sponsor introductory remarks on measure. (CR S4488-4489)

Bill Text
A bill to amend the National and Community Service Act of 1990 to improve the educational awards provided for national service, and for other purposes. 5/20/2008--Introduced. AmeriCorps: Together Improving Our Nation Act or the ACTION Act - Amends the National and Community Service Act of 1990 to alter the formula for determining the amount of the national service educational award to base the award on the average cost of attending a four-year institution of higher education, rather than a portion of a veteran's basic educational assistance allowance. Excludes the national service educational award from an individual's gross income for tax purposes. Permits the Corporation for National and Community Service to support a national service program that is carried out by another federal agency and implements the priorities of such agency. Makes Chief Executive Officer of the Corporation a Cabinet position. Raises the Officer's compensation to Level I of the [...]

show full description
Latest Action: 04/15/2008 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to require greater disclosure of senior corporate officer compensation, to empower shareholders and investors to protect themselves from fraud, to limit conflicts of interest in determining senior corporate officer compensation, to ensure integrity in Federal contracting, to close corporate tax loopholes utilized to subsidize senior corporate officer compensation, and for other purposes. 4/15/2008--Introduced. Corporate Executive Compensation Accountability and Transparency Act - Amends the Internal Revenue Code to the limit annual aggregate amounts which may be deferred under nonqualified deferred compensation arrangements. Amends the Sarbanes-Oxley Act of 2002 to extend from 12 to 36 months the look-back period for any bonuses, incentive-based or equity-based compensation, or profits realized from the sale of securities which must be reimbursed to a securities issuer by its chief executive officer and chief financial officer if the issuer is required to prepare [...]

show full description
Latest Action: 08/01/2008 - Measure laid before Senate by unanimous consent. (consideration: CR S8070-8073; text of measure as reported in Senate: CR S8071-8073)

Bill Text
To make certain reforms with respect to the Government Accountability Office, and for other purposes. 8/1/2008--Passed Senate amended.    (There are 2 other summaries) Government Accountability Office Act of 2008 - (Sec. 2) Requires: (1) the Comptroller General to provide for a pay increase to covered Government Accountability Office (GAO) officers and employees if the increase that would otherwise take effect would be less than the required minimum percentage (equal to the total annual pay adjustment for General Schedule positions within a pay locality); and (2) nonpermanent merit pay to a such an officer or employee to be decreased by an amount equal to the portion of such person's basic pay that is attributable to the increase provided by this Act.Defines a "covered officer or employee" to mean a Government Accountability Office (GAO) officer or employee whose performance is at least at a satisfactory level and who is not a member of [...]

show full description
Latest Action: 11/01/2007 - Sponsor introductory remarks on measure. (CR S13689)

Bill Text
A bill to establish portfolio quality standards, improve lender oversight by the Small Business Administration, create economic outcome and performance measurements, strengthen the loan programs under section 7(a) of the Small Business Act and title V of the Small Business Investment Act of 1958, and for other purposes. 11/1/2007--Introduced. Small Business Lending Oversight and Program Performance Improvement Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to develop and publish portfolio quality evaluation standards to evaluate the loan portfolios of lenders participating in the section 7(a) (SBA-guaranteed loans to small businesses) and 504 (financing to small businesses funded by SBA-guaranteed debentures) programs of the Small Business Act. Requires the standards to measure the rates of loan liquidation, currency, recovery, and delinquency, and to be used by the Administrator to determine lender portfolio quality and to conduct lender [...]

show full description
Latest Action: 01/15/2008 - Referred to the Subcommittee on Workforce Protections.

Bill Text
To establish a United States Boxing Commission to administer the Act, and for other purposes. 10/31/2007--Introduced. Professional Boxing Amendments Act of 2007 - Amends the Professional Boxing Safety Act of 1996 to: (1) authorize a tribal organization to establish a boxing commission; (2) prohibit arranging, promoting, or fighting in a match unless the match is approved by the United States Boxing Commission (USBC) and held in a State or on tribal land that regulates matches in accordance with USBC standards; (3) require specified pre-fight boxer physical examinations and to require the continuous presence during any match of an ambulance and emergency medical personnel; (4) provide for boxing registration with the appropriate boxing commission of an Indian tribe; (5) require a health and safety disclosure to a boxer when issuing an identification card and to establish procedures for review of a summary suspension; (6) require the USBC to develop guidelines for boxing contracting [...]

show full description
Latest Action: 04/24/2008 - Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Bill Text
To amend the Federal Funding Accountability and Transparency Act of 2006 to require certain recipients of Federal funds to disclose the names and total compensation of their most highly compensated officers, and for other purpose. 4/23/2008--Passed House amended.    (There are 2 other summaries) Government Funding Transparency Act of 2008 - Amends the Federal Funding Accountability and Transparency Act to require the Office of Management and Budget (OMB) to ensure that the federal awards website includes for each federal award of assistance or expenditures of $25,000 or more the names and total compensation of the five most highly compensated officers of the receiving entity if: (1) the entity in the preceding fiscal year received 80% or more of its annual gross revenues and $25 million or more in annual gross revenues from federal awards; and (2) the public does not have access to information about the compensation of the entity's senior executives through [...]

show full description
Latest Action: 10/17/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to limit the deductibility of excessive rates of executive compensation.

10/17/2007--Introduced.

Income Equity Act of 2007 - Amends the Internal Revenue Code to: (1) deny employers a tax deduction for payments of excessive compensation to any employee (i.e., more than 25 times the lowest compensation paid any other employee); and (2) require such employers to file a report on compensation paid to their employees with the Secretary of the Treasury.

Latest Action: 09/25/2007 - Sponsor introductory remarks on measure. (CR S12063)

Bill Text
A bill to amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies. 9/25/2007--Introduced. Protecting Employees and Retirees in Business Bankruptcies Act of 2007 - Amends federal bankruptcy law to increase the maximum amount per individual or corporation of unsecured claims ranked in the fourth (wages, salaries, or commissions) and fifth (employee benefit plan contributions) order of priority. Includes within the scope of a claim in bankruptcy certain equity securities held in a defined contribution plan for the benefit of certain individuals. Ranks in sixth order of priority the diminished value of debtor's equity securities held in a defined contribution plan if the employer or plan sponsor committed fraud regarding the plan. Permits within administrative expenses certain severance pay for termination or layoffs. Prohibits certain senior executive compensation from being disproportionate in [...]

show full description
Latest Action: 10/12/2007 - Referred to the Subcommittee on Commercial and Administrative Law.

Bill Text
To amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies. 9/25/2007--Introduced. Protecting Employees and Retirees in Business Bankruptcies Act of 2007 - Amends federal bankruptcy law to increase the maximum amount per individual or corporationof unsecured claims ranked in the fourth (wages, salaries, or commissions) and fifth (employee benefit plan contributions) order of priority. Includes within the scope of a claim in bankruptcy certain equity securities held in a defined contribution plan for the benefit of certain individuals.Ranks in sixth order of priority the diminished value of debtor's equity securities held in a defined contribution plan if the employer or plan sponsor committed fraud regarding the plan.Permits within administrative expenses certain severance pay for termination or layoffs.Prohibits certain senior executive compensation from being disproportionate in light of economic [...]

show full description
Latest Action: 08/02/2007 - Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction

Bill Text
To provide Federal contracting preferences for, and a reduction in the rate of income tax imposed on, Patriot corporations, and for other purposes. 8/2/2007--Introduced. Patriot Corporations of America Act of 2007 - Grants after 2007 a preference to Patriot corporations in the evaluation of bids or proposals for federal contracts. Defines " Patriot corporation" as a corporation which: (1) produces at least 90% of its goods and services in the United States; (2) does not pay its its management-level employees at a rate more than 10,000% of the compensation of its lowest paid employee; (3) conducts at least 50% of its research and development in the United States; (4) contributes at least 5% of its payroll to a portable pension fund for its employees; (5) pays at least 70% of its employees' health insurance costs; (6) maintains a policy of neutrality in employee organizing drives; (7) provides full differential salary and insurance benefits for all National Guard and [...]

show full description
Latest Action: 06/28/2007 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Bill Text
A bill to amend the Employee Retirement Income Security Act of 1974, the Internal Revenue Code of 1986, and title 5, United States Code, to improve the protection of pension benefits, and for other purposes. 6/28/2007--Introduced. Restoring Pension Promises to Workers Act - Amends the Internal Revenue Code to require the inclusion in gross income of all income previously deferred under a nonqualified deferred compensation plan if an employer maintaining such a plan fails to meet certain participation, vesting, and minimum benefit requirements. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) deny ERISA pension plan administrators the right to recover overpayments made to plan participants and beneficiaries in cases of hardship or insignificant amounts; (2) impose a three-year limitation period for bringing any action to recover an overpayment; (3) prohibit the elimination of accrued pension plan benefits during corporate mergers and acquisitions;[...]

show full description
Latest Action: 06/06/2007 - Referred to the House Committee on Financial Services.

Bill Text
To amend the Securities Exchange Act of 1934 to require the disclosure of proxy votes relating to executive and director compensation by beneficial owners of more than 5 percent of a company's shares. 6/6/2007--Introduced. Amends the Securities Exchange Act of 1943 to require certain persons acquiring more than 5% of certain classes of securities to report to the security issuer and to the exchange where the security is traded: (1) how the votes for such shares were cast on any proxy or consent or authorization in respect of any such security relating to executive and director compensation proposals, including a description of the matter voted on; and (2) a description of any relationship between the person filing the statement and the security issuer, or between the person filing the statement and any other person required to file a statement regarding such securities. Directs the Securities and Exchanges Commission (SEC) to promulgate a requirement that such information [...]

show full description
Latest Action: 04/20/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
A bill to amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation. 4/20/2007--Introduced. Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009, to permit a separate shareholder vote to approve executive compensation. States that such shareholder vote shall not be binding on the board of directors, nor construed: (1) as overruling a board decision; (2) to create or imply additional fiduciary duty by such board; and (3) to restrict or limit shareholder ability to make proposals for inclusion in proxy materials related to executive compensation. Requires proxy solicitation material for a shareholder meeting occurring on or after January 1, 2009, concerning disposition of substantially all of an issuer's assets, to disclose compensation agreements or understandings [...]

show full description
Latest Action: 03/29/2007 - Sponsor introductory remarks on measure. (CR S4174)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use.

3/29/2007--Introduced.

Workforce Health Improvement Program Act of 2007 - Amends the Internal Revenue Code to exclude from the gross income of employees: (1) the value of any on-premises employer-provided athletic facility; and (2) fees, dues, or membership expenses paid to an athletic or fitness facility by an employer for its employees, but not exceeding $900 per employee per year.

Allows employers a tax deduction for fees, dues, or membership expenses paid to an athletic or fitness facility. Limits the amount of such deduction to $900 per employee per year.

Latest Action: 03/29/2007 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to repeal the current Internal Revenue Code and replace it with a flat tax, thereby guaranteeing economic growth and greater fairness for all Americans. 3/29/2007--Introduced. Tax Simplification Act of 2007 - Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 19 percent (17 percent after December 31, 2009) on individual taxable income. Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 19 percent (17 percent after December 31, 2009) of the business taxable income of such person. Makes the person engaged in the business activity [...]

show full description
Latest Action: 03/28/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use.

3/28/2007--Introduced.

Workforce Health Improvement Program Act of 2007 - Amends the Internal Revenue Code to exclude from the gross income of employees: (1) the value of any on-premises employer-provided athletic facility; and (2) fees, dues, or membership expenses paid to an athletic or fitness facility by an employer for its employees, but not exceeding $900 per employee per year.

Allows employers a tax deduction for fees, dues, or membership expenses paid to an athletic or fitness facility. Limits the amount of such deduction to $900 per employee per year.

Latest Action: 05/24/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To reform the regulation of certain housing-related Government-sponsored enterprises, and for other purposes. 5/22/2007--Passed House amended.    (There are 2 other summaries) Federal Housing Finance Reform Act of 2007 - Title I: Reform of Regulation of Enterprises and Federal Home Loan Banks - Subtitle A: Improvement of Safety and Soundness - (Sec. 101) Amends the Housing and Community Development Act of 1992 (Act) to establish, in place of the present Office of Federal Housing Enterprise Oversight, a Federal Housing Finance Agency (FHFA), headed by a Director (Director) possessing general supervisory and regulatory authority over the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the federal home loan banks ("the regulated entities"). (Sec. 102) Requires the Director to establish standards for each regulated entity, especially standards relating to: (1) [...]

show full description
Latest Action: 04/23/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation. 4/20/2007--Passed House amended.    (There are 2 other summaries) Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009, to permit a separate shareholder vote to approve executive compensation. States that such shareholder vote shall not be binding on the corporation or board of directors, nor construed: (1) as overruling a board decision; (2) to create or imply additional fiduciary duty by such board; (3) to restrict or limit shareholder ability to make proposals for inclusion in proxy materials related to executive compensation. Requires proxy solicitation material for a shareholder meeting occurring on or after January 1, 2009, concerning disposition of substantially all of [...]

show full description
Latest Action: 10/02/2007 - Sponsor introductory remarks on measure. (CR H11153)

Bill Text
To amend titles XI and XVIII of the Social Security Act to modernize the quality improvement organization (QIO) program. 2/14/2007--Introduced. Medicare Quality Improvement Organization Modernization Act of 2007 - Amends title XI of the Social Security Act (SSA) to require utilization and quality control peer review organizations to offer quality improvement assistance to providers, practitioners, Medicare Advantage organizations under part C (Medicare+Choice) of title XVIII (Medicare), and prescription drug sponsors under part D (Voluntary Prescription Drug Benefit Program) of such title. Requires the organization to establish a Medicare quality accountability program. Revises requirements for the quality improvement program (QIO), including program administration, data disclosure, use of evaluation and competition, quality improvement funding, and qualifications for QIOs under part B (Peer Review) of SSA title XI. Amends SSA title XIX (Medicaid) [...]

show full description
Latest Action: 01/22/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-1. Additional views filed.

Bill Text
An original bill to amend the Internal Revenue Code of 1986 to provide additional tax incentives to employers and employees of small businesses, and for other purposes. 1/22/2007--Reported to Senate without amendment, 1st committee reporting.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Small Business and Work Opportunity Act of 2007 - Title I: Small Business Tax Relief Provisions - Subtitle A: General Provisions - (Sec. 101) Amends the Internal Revenue Code to extend through 2010 the increased expensing allowance for small business assets. (Sec. 102) Extends through March 2008 accelerated depreciation of qualified leasehold and restaurant improvement property. Revises the definition of "qualified restaurant property" to eliminate the requirement that improvements to restaurant property must be [...]

show full description
Latest Action: 03/01/2007 - Committee on Commerce, Science, and Transportation. Reported by Senator Inouye without amendment. With written report No. 110-28.

Bill Text
A bill to establish a United States Boxing Commission to administer the Act, and for other purposes. 3/1/2007--Reported to Senate without amendment.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Professional Boxing Amendments Act of 2007 - (Sec. 3) Amends the Professional Boxing Safety Act of 1996 to: (1) authorize a tribal organization to establish a boxing commission to regulate professional boxing matches held on Indian land; and (2) provide that its provisions shall apply to professional boxing matches held on tribal lands to the same extent and in the same way as they apply to such matches held in any state. Requires health and safety standards and licensing requirements for matches to be at least as restrictive as: (1) standards and requirements in the state in which the Indian land is located; or (2) the guidelines established [...]

show full description