To limit compensation to officers and directors of entities receiving emergency economic assistance from the Government.

SA 125. Mrs. McCASKILL (for herself, Mr. Sanders, Mrs. Hogan, Mr.
Harkin, Ms. Mikulski, Ms. Klobuchar, Mr. Nelson of Florida, Mr. Begich,
and Mrs. Boxer) submitted an amendment intended to be proposed to
amendment

[[Page S1447]]

SA 98 proposed by Mr. Inouye (for himself and Mr. Baucus) to the bill
H.R. 1, making supplemental appropriations for job preservation and
creation, infrastructure investment, energy efficiency and science,
assistance to the unemployed, and State and local fiscal stabilization,
for fiscal year ending September 30, 2009, and for other purposes;
which was ordered to lie on the table; as follows:

On page 428, between lines 11 and 12, insert the following:

Subtitle D--Limits on Executive Compensation

SEC. 1551. SHORT TITLE.

This subtitle may be cited as the ``Cap Executive Officer
Pay Act of 2009''.

SEC. 1552. LIMIT ON EXECUTIVE COMPENSATION.

(a) In General.--Notwithstanding any other provision of law
or agreement to the contrary, no person who is an officer,
director, executive, or other employee of a financial
institution or other entity that receives or has received
funds under the Troubled Asset Relief Program (or ``TARP''),
established under section 101 of the Emergency Economic
Stabilization Act of 2008, may receive annual compensation in
excess of the amount of compensation paid to the President of
the United States.
(b) Duration.--The limitation in subsection (a) shall be a
condition of the receipt of assistance under the TARP, and of
any modification to such assistance that was received on or
before the date of enactment of this Act, and shall remain in
effect with respect to each financial institution or other
entity that receives such assistance or modification for the
duration of the assistance or obligation provided under the
TARP.

SEC. 1553. RULEMAKING AUTHORITY.

The Secretary shall expeditiously issue such rules as are
necessary to carry out this subtitle, including with respect
to reimbursement of compensation amounts, as appropriate.

SEC. 1554. COMPENSATION.

As used in this subtitle, the term ``compensation''
includes wages, salary, deferred compensation, retirement
contributions, options, bonuses, property, and any other form
of compensation or bonus that the Secretary of the Treasury
determines is appropriate.
______