Accountability for Utility Executives Act This bill prohibits a publicly traded utility company undergoing bankruptcy proceedings from paying bonuses or any golden parachute compensation to company executives. The bill defines golden parachute compensation as compensation based on or related to the acquisition, merger, consolidation, sale, or other disposition of the assets of the company.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Finance and Financial Sector
BankruptcyCorporate finance and managementElectric power generation and transmissionPublic utilities and utility ratesWages and earningsWater use and supply
Accountability for Utility Executives Act
USA116th CongressS-2844| Senate
| Updated: 11/13/2019
Accountability for Utility Executives Act This bill prohibits a publicly traded utility company undergoing bankruptcy proceedings from paying bonuses or any golden parachute compensation to company executives. The bill defines golden parachute compensation as compensation based on or related to the acquisition, merger, consolidation, sale, or other disposition of the assets of the company.
BankruptcyCorporate finance and managementElectric power generation and transmissionPublic utilities and utility ratesWages and earningsWater use and supply