I 

111TH CONGRESS 

1ST SESSION H. R. 807 

To amend the Emergency Economic Stabilization Act of 2008 to require 

a public database of the executive compensation of the institutions receiving assistance under the Troubled Assets Relief Program. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 3, 2009 

Mr. BILIRAKIS introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To amend the Emergency Economic Stabilization Act of 

2008 to require a public database of the executive compensation of the institutions receiving assistance under 

the Troubled Assets Relief Program. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. DATABASE OF EXECUTIVE COMPENSATION FOR 

4 TARP-ASSISTED INSTITUTIONS. 

5 Section 111 of the Emergency Economic Stabilization 

6 Act of 2008 (12 U.S.C. 5221) is amended by adding at 

7 the end the following: 

8 ‘‘(e) COMPENSATION DATABASE.— 


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1 ‘‘(1) DATABASE.—The Secretary shall establish 

2 and maintain an Internet website containing a 

3 searchable database of the information required to 

4 be disclosed under paragraph (2). Such database 

5 shall contain the compensation disclosures required 

6 under paragraph (2), accessible to the public in a 

7 clear, simple, and readily accessible format, and up8 dated not later than 10 days after receiving such in9 formation. The database shall not identify the execu10 tive, officer, or employee by name. 

11 ‘‘(2) REQUIRED COMPENSATION DISCLO12 SURES.—Any institution that receives any assistance 

13 under this title shall disclose to the Secretary the 

14 total compensation of each of the 100 most highly 

15 paid executives, officers, or employees of such as16 sisted institution, except that if an institution has 

17 fewer than 1,000 employees, such institution shall 

18 disclose to the Secretary the total compensation of 

19 each of the top 5 percent of the most highly paid ex20 ecutives, officers, or employees. Such disclosures 

21 shall be made on an annual basis for a period of 4 

22 years beginning— 

23 ‘‘(A) in the case of an institution that re24 ceived assistance under this title prior to the 


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1 date of enactment of this subsection, not later 

2 than 45 days after such date of enactment; and 

3 ‘‘(B) for all other assisted institutions, not 

4 later than 45 days after receiving assistance 

5 under this title. 

6 ‘‘(3) TOTAL COMPENSATION DEFINED.—For 

7 purposes of this subsection, the term ‘total com8 pensation’ means, for an applicable year, any type of 

9 compensation (whether present, deferred, or contin10 gent) paid or to be paid to an executive, officer, or 

11 employee including— 

12 ‘‘(A) any additions to the pension of such 

13 executive, officer, or employee; 

14 ‘‘(B) the estimated market value of any 

15 other benefits received by such executive, offi16 cer, or employee; and 

17 ‘‘(C) a description of any contractual or 

18 contingent obligation to the executive, officer, 

19 or employee not otherwise described in this 

20 paragraph.’’. 

Æ 


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