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.
Latest action · Mar 23, 2020 Referred to the House Committee on Financial Services.
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.
- IntroducedMar 23, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill establishes requirements for issuers of securities receiving aid in response to the COVID-19 (i.e., coronavirus disease 2019) emergency.
Issuers receiving aid must comply with specified requirements regarding paid leave, minimum wage, and limits on executive compensation. Until the end of the emergency period, issuers receiving aid must maintain preemergency workforce and compensation levels. Additionally, an issuer receiving aid may not provide executive bonuses, purchase its own company's stocks, pay out dividends to stockholders, or engage in lobbying until the issuer repays the aid.
Certain issuers receiving aid must (1) have one-third of their board of directors be elected by employees; and (2) provide additional disclosures including those regarding political expenditures, workforce composition, employee benefits, environmental impacts, federal aid, and financial performance.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Mar 23, 2020 to May 8, 2020, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MA | Ayanna Pressley | Original | Mar 23, 2020 |
| D-MI | Rashida Tlaib | Original | Mar 23, 2020 |
| D-CA | Maxine Waters | May 8, 2020 |
Actions 2
Everything that happened, newest first.
- Mar 23, 2020Introduced in House
- Mar 23, 2020Referred to the House Committee on Financial Services.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 6321 | Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act | Related bill | Mar 23, 2020 |
| HR 6379 | Workforce Emergency Response Act of 2020 | Related bill | Mar 23, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Business records
- Cardiovascular and respiratory health
- Corporate finance and management
- Economic performance and conditions
- Elections, voting, political campaign regulation
- Emergency medical services and trauma care
- Employee benefits and pensions
- Employee hiring
- Employee leave
- Finance and Financial Sector
- Foreign and international corporations
- Government information and archives
- Health promotion and preventive care
- Infectious and parasitic diseases
- Interest, dividends, interest rates
- Labor standards
- Labor-management relations
- Minority employment
- Personnel records
- Public participation and lobbying
- Securities
- Temporary and part-time employment
- Unemployment
- Wages and earnings
- Women's employment
- Worker safety and health
Text 1
Each version as it was printed, newest first.
- Mar 23, 2020Introduced in House
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.