Executive Compensation Tax Reform Act of 2002
Latest action · Jul 11, 2002 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 11, 2002
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to classify a loan by an employer to an employee as compensation unless it meets specified requirements, including that it is evidenced by a promissory note.
Subjects the sale or exchange of stock in a corporation by a corporate insider to an excise tax on golden parachute payments if such sale or exchange occurs while the corporation or another entity consolidated with the corporation maintains a transfer-restricted 401(k) plan.
Includes in gross income of a corporate insider of an expatriate corporation the net unrealized built-in gain on options held by such insider to acquire stock in the corporation or in any member of the expanded affiliated group which includes the corporation.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jul 11, 2002 |
Actions 3
Everything that happened, newest first.
- Jul 11, 2002Introduced in Senate
- Jul 11, 2002Sponsor introductory remarks on measure. (CR S6655)
- Jul 11, 2002Read twice and referred to the Committee on Finance.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S6655 | John D. Rockefeller IV D-WV | Jul 11, 2002 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to ensure the proper tax treatment of executives compensation, and for other purposes.
- Short Titles as Introduced
- Executive Compensation Tax Reform Act of 2002
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Affiliated corporations
- Capital gains tax
- Commerce
- Corporate collapse
- Corporate corruption
- Corporate governance
- Corporate mergers
- Corporation directors
- Employee stock options
- Excise tax
- Executive compensation
- Executives
- Finance and Financial Sector
- Foreign corporations
- Foreign Trade and International Finance
- Fringe benefits
- Golden parachutes
- Income tax
- Incorporation
- Insider trading in securities
- Labor and Employment
- Loans
- Partnerships
- Personal income tax
- Stockholders
- Stocks
- Tax evasion
- Tax exclusion
- Tax penalties
- Tax shelters
- Tax-deferred compensation plans
- Taxation
Text 1
Each version as it was printed, newest first.
- Jul 11, 2002Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
