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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.

USA116th CongressHR-6360| House 
| Updated: 3/23/2020
Alexandria Ocasio-Cortez

Alexandria Ocasio-Cortez

Democratic Representative

New York

Cosponsors (3)
Maxine Waters (Democratic)Rashida Tlaib (Democratic)Ayanna Pressley (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Mar 23, 2020
Introduced in House
Mar 23, 2020
Referred to the House Committee on Financial Services.
  • March 23, 2020
    Introduced in House


  • March 23, 2020
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Related Bills

  • HR 116-6379: Workforce Emergency Response Act of 2020
  • HR 116-6321: Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act
Business recordsCardiovascular and respiratory healthCorporate finance and managementEconomic performance and conditionsElections, voting, political campaign regulationEmergency medical services and trauma careEmployee benefits and pensionsEmployee hiringEmployee leaveForeign and international corporationsGovernment information and archivesHealth promotion and preventive careInfectious and parasitic diseasesInterest, dividends, interest ratesLabor-management relationsLabor standardsMinority employmentPersonnel recordsPublic participation and lobbyingSecuritiesTemporary and part-time employmentUnemploymentWages and earningsWomen's employmentWorker safety and health

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.

USA116th CongressHR-6360| House 
| Updated: 3/23/2020
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 23, 2020
Introduced in House
Mar 23, 2020
Referred to the House Committee on Financial Services.
  • March 23, 2020
    Introduced in House


  • March 23, 2020
    Referred to the House Committee on Financial Services.
Alexandria Ocasio-Cortez

Alexandria Ocasio-Cortez

Democratic Representative

New York

Cosponsors (3)
Maxine Waters (Democratic)Rashida Tlaib (Democratic)Ayanna Pressley (Democratic)

Financial Services Committee

Finance and Financial Sector

Related Bills

  • HR 116-6379: Workforce Emergency Response Act of 2020
  • HR 116-6321: Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business recordsCardiovascular and respiratory healthCorporate finance and managementEconomic performance and conditionsElections, voting, political campaign regulationEmergency medical services and trauma careEmployee benefits and pensionsEmployee hiringEmployee leaveForeign and international corporationsGovernment information and archivesHealth promotion and preventive careInfectious and parasitic diseasesInterest, dividends, interest ratesLabor-management relationsLabor standardsMinority employmentPersonnel recordsPublic participation and lobbyingSecuritiesTemporary and part-time employmentUnemploymentWages and earningsWomen's employmentWorker safety and health