IB 
Union Calendar No. 38 
117TH CONGRESS 
1ST SESSION H. R. 1188 
[Report No. 117–55] 
To amend the Securities Exchange Act of 1934 to require issuers to disclose 
information on pay raises made to executives and non-executive employ-
ees, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 18, 2021 
Ms. VELA´ZQUEZ introduced the following bill; which was referred to the 
Committee on Financial Services 
JUNE 8, 2021 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on February 18, 2021] 
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A BILL 
To amend the Securities Exchange Act of 1934 to require 
issuers to disclose information on pay raises made to 
executives and non-executive employees, and for other 
purposes. 
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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 ‘‘Greater Accountability 
in Pay Act of 2021’’. 
SEC. 2. PAY RAISE DISCLOSURES. 
Section 13 of the Securities Exchange Act of 1934 (15 
U.S.C. 78m) is amended by adding at the end the following: 
‘‘(s) PAY RAISE DISCLOSURES.—An issuer required to 
file an annual report under this section or section 15(d), 
that is not an emerging growth company, shall include in 
such report— 
‘‘(1) the percentage increase in the median of the 
annual total compensation of all executive officers (as 
such term is defined in section 240.3b–7 of title 17, 
Code of Federal Regulations) of the issuer over the 
last completed fiscal year; 
‘‘(2) the percentage increase in the median of the 
annual total compensation of all employees of the 
issuer, excluding executive officers, over the last com-
pleted fiscal year; 
‘‘(3) the ratio of the percentage described in 
paragraph (1) to the percentage described in para-
graph (2); 
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‘‘(4) a comparison of the percentage described in 
paragraph (1) to the percentage change over the same 
period in the Consumer Price Index for All Urban 
Consumers published by the Bureau of Labor Statis-
tics of the Department of Labor; and 
‘‘(5) a comparison of the percentage described in 
paragraph (2) to the percentage change over the same 
period in the Consumer Price Index for All Urban 
Consumers published by the Bureau of Labor Statis-
tics of the Department of Labor.’’. 
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Union Calendar No. 38 
117TH CONGRESS 
1ST SESSION 
H. R. 1188 
[Report No. 117–55] 
A BILL 
To amend the Securities Exchange Act of 1934 to 
require issuers to disclose information on pay 
raises made to executives and non-executive em-
ployees, and for other purposes. 
JUNE 8, 2021 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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