I 
116TH CONGRESS 
2D SESSION 
H. R. 6360 
To establish requirements on accelerated filers receiving Federal aid related 
to COVID–19, to establish requirements on all corporations until Federal 
aid related to COVID–19 is repaid, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 23, 2020 
Ms. OCASIO-CORTEZ (for herself, Ms. TLAIB, and Ms. PRESSLEY) introduced 
the following bill; which was referred to the Committee on Financial Services 
A BILL 
To establish requirements on accelerated filers receiving Fed-
eral aid related to COVID–19, to establish requirements 
on all corporations until Federal aid related to COVID– 
19 is repaid, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. REQUIREMENTS ON ALL CORPORATIONS UNTIL 
FEDERAL AID RELATED TO COVID–19 IS RE-
PAID. 
Any corporation that receives Federal aid related to 
COVID–19 shall, until the date on which all such Federal 
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aid is repaid by the corporation to the Federal Govern-
ment, comply with the following: 
(1) RESTRICTIONS ON EXECUTIVE BONUSES.— 
The corporation may not pay a bonus to any execu-
tive of the corporation. 
(2) BAN
ON
EXECUTIVE
GOLDEN
PARA-
CHUTES.—The corporation may not pay any type of 
compensation (whether present, deferred, or contin-
gent) to an executive of the corporation, if such com-
pensation is in connection with the termination of 
employment of the executive. 
(3) BAN ON STOCK BUYBACKS.—The corpora-
tion may not purchase securities of the corporation. 
(4) BAN ON DIVIDENDS.—The corporation may 
not pay dividends on securities of the corporation. 
(5) BAN
ON
FEDERAL
LOBBYING.—The cor-
poration may not carry out any Federal lobbying ac-
tivities. 
SEC. 2. PERMANENT REQUIREMENTS ON ACCELERATED 
FILERS RECEIVING FEDERAL AID RELATED 
TO COVID–19. 
(a) IN GENERAL.—An accelerated filer that receives 
Federal aid related to COVID–19 shall permanently com-
ply with the following: 
(1) WORKER BOARD REPRESENTATION.— 
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(A) IN GENERAL.—At least 1⁄3 of the mem-
bers of the accelerated filer’s directors are cho-
sen by the employees of the accelerated filer in 
a one-employee-one-vote election process. 
(B) COMPLIANCE
DATE.—An accelerated 
filer shall comply with the requirements under 
subparagraph (A) not later than the end of the 
2-year period beginning on the date of enact-
ment of this Act. 
(C) DEFINITIONS.—In this paragraph— 
(i) the term ‘‘director’’ has the mean-
ing given the term in section 3 of the Se-
curities Exchange Act of 1934 (15 U.S.C. 
78c); and 
(ii) the term ‘‘employee’’ has the 
meaning given the term in section 2 of the 
National Labor Relations Act (29 U.S.C. 
152). 
(2) ADDITIONAL DISCLOSURES.—If the securi-
ties of the corporation are traded on a national secu-
rities exchange, the corporation shall issue the fol-
lowing disclosures to the Securities and Exchange 
Commission on a quarterly basis (and make such 
disclosures available to shareholders of the corpora-
tion and the public): 
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(A) The political spending disclosures re-
quired under subsection (b). 
(B) The human capital management dis-
closures required under subsection (c). 
(C) The environmental, social, and govern-
ance disclosures required under subsection (d). 
(D) The Federal aid disclosures required 
under subsection (e). 
(E) The disclosures of financial perform-
ance on a country-by-country basis required 
under subsection (f). 
(b) POLITICAL SPENDING DISCLOSURES.— 
(1) IN GENERAL.—With respect to an acceler-
ated filer, the disclosures required under this sub-
section are— 
(A) a description of any expenditure for 
political activities made during the preceding 
quarter; 
(B) the date of each expenditure for polit-
ical activities; 
(C) the amount of each expenditure for po-
litical activities; 
(D) if the expenditure for political activi-
ties was made in support of or opposed to a 
candidate, the name of the candidate and the 
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