I 
111TH CONGRESS 
1ST SESSION 
H. R. 857 
To limit compensation to officers and directors of entities receiving emergency 
economic assistance from the Government, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 4, 2009 
Mr. MOORE of Kansas (for himself, Mr. CLEAVER, Mrs. MCCARTHY of New 
York, Ms. GIFFORDS, Mr. SCOTT of Georgia, Mr. CHILDERS, Mr. GRAY-
SON, Mr. PATRICK J. MURPHY of Pennsylvania, Mr. RYAN of Ohio, Mr. 
DEFAZIO, Mr. ELLISON, Mr. ISRAEL, Mr. MCDERMOTT, Mr. SCHIFF, 
Mr. DOGGETT, Ms. BERKLEY, Mr. BOCCIERI, Mr. KISSELL, Mr. MASSA, 
Mr. PERRIELLO, Mr. GENE GREEN of Texas, Mr. MCGOVERN, Mr. ED-
WARDS of Texas, Mr. HOLT, Mr. CONYERS, Mr. BRALEY of Iowa, Mr. 
CHANDLER, Mr. SCHAUER, Mr. CARNAHAN, Mr. LIPINSKI, Mr. 
HINOJOSA, Mr. SPACE, Mr. REYES, Mr. TIERNEY, Mr. CLAY, Ms. PIN-
GREE of Maine, Mr. DRIEHAUS, and Mr. MELANCON) introduced the fol-
lowing bill; which was referred to the Committee on Financial Services 
A BILL 
To limit compensation to officers and directors of entities 
receiving emergency economic assistance from the Gov-
ernment, 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. SHORT TITLE. 
This Act may be cited as the ‘‘Limit Executive Com-
pensation Abuse Act’’. 
VerDate Nov 24 2008 
04:31 Feb 06, 2009
Jkt 079200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H857.IH
H857
jbell on PROD1PC69 with BILLS
SEC. 2. LIMIT ON EXECUTIVE COMPENSATION. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion 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 Emer-
gency Economic Stabilization Act of 2008, may receive an-
nual compensation in excess of the amount of compensa-
tion 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 the enactment of 
this Act, and shall remain in effect with respect to each 
financial institution or other entity that receives such as-
sistance or modification for the duration of the assistance 
or obligation provided under the TARP. 
SEC. 3. RULEMAKING AUTHORITY. 
The Secretary shall expeditiously prescribe such regu-
lations as are necessary to carry out this Act, including 
with respect to reimbursement of compensation amounts, 
as appropriate. 
SEC. 4. COMPENSATION. 
As used in this Act, the term ‘‘compensation’’ in-
cludes wages, salary, deferred compensation, retirement 
VerDate Nov 24 2008 
04:31 Feb 06, 2009
Jkt 079200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H857.IH
H857
jbell on PROD1PC69 with BILLS
contributions, options, bonuses, property, and any other 
form of compensation or bonus that the Secretary of the 
Treasury determines is appropriate. 
Æ 
VerDate Nov 24 2008 
04:31 Feb 06, 2009
Jkt 079200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H857.IH
H857
jbell on PROD1PC69 with BILLS