H.R. 1673

To amend the Emergency Economic Stabilization Act of 2008 with respect to bonus payments.

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I

111th CONGRESS

1st Session

H. R. 1673

IN THE HOUSE OF REPRESENTATIVES

March 23, 2009

Mr. Daniel E. Lungren of California introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Emergency Economic Stabilization Act of 2008 with respect to bonus payments.

1.

Repeal of provision

Section 111(b)(3)(D) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5221(b)(3)(D)) is amended by striking (iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary..