S.Amdt. 139

SA 139. Mr. DORGAN submitted an amendment intended to be proposed to
amendment 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:

At the appropriate place, insert the following:

SEC. __. REPORTING BONUSES TO PROTECT TAXPAYERS.

(a) Reports Required.--Any person that receives emergency
economic assistance from any Federal financial entity shall
report to such Federal financial agency, all bonuses paid to
any officer, director, or other employee of that person,
including the name of such officer, director, or employee and
the amount of the bonus paid.
(b) Timing.--The reports required under subsection (a)
shall be submitted to the Federal financial entity--
(1) not later than 30 days after the date of enactment of
this Act, in the case of any person receiving emergency
economic assistance from the Federal financial entity before
the date of enactment of this Act, with respect to all
bonuses paid during 2008;
(2) not later than 30 days after the date on which a person
applies for emergency economic assistance from the Federal
financial entity on and after the date of enactment of this
Act, with respect to all bonuses paid during 2008 and the
calendar year during which the application is made; and
(3) monthly in updated form while any obligation arising
from such assistance remains outstanding.
(c) Transmission to Congress; Public Availability.--Each
Federal financial entity that provides emergency economic
assistance shall promptly compile and transmit all reports
received under this section to Congress, and shall make such
reports publicly available via the Internet.
(d) Definition.--As used in this section, the term
``Federal financial entity'' means--
(1) the Secretary of the Treasury;
(2) each member of the Financial Institutions Examination
Council established under section 1004 of the Federal
Financial Institutions Examination Council Act of 1978 (12
U.S.C. 3303); and
(3) the Federal Housing Finance Agency.
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