,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #bajc  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #bi1 #bjae ,mr4
 ,doggett 7= himself1 ,ms4 ,br[nley (   
,cali=nia1 ,mr4 ,cicill9e1 ,ms4         
,de,lauro1 ,mr4 ,ellison1 ,mr4          
,grijalva1 ,mr4 ,huffman1 ,ms4 ,lee1    
,mr4 ,lip9ski1 ,mr4 ,l[5?al1 ,mr4       
,mc,dermott1 ,mr4 ,mc,govern1 ,ms4      
,norton1 ,mr4 ,pocan1 ,mr4 ,rangel1 ,mr4
 ,ru%1 ,ms4 ,s*ak[sky1 ,ms4 ,slaught]1  
,ms4 ,tsongas1 ,mr4 ,van ,holl51 ,mr4   
,visclosky1 ,mr4 ,brady ( ,p5nsylvania1 
,mr4 ,pascrell1 & ,ms4 ,moore7 introduc$
 ! foll[+ bill2 :i* 0 ref]r$ to !       
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to exp& ! d5ial ( d$uction = c]ta9
 excessive employee remun]ation1 & = o!r
 purposes4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! ,/op ,subsidiz+         
,multimillion ,doll> ,corporate ,bonuses
 ,act4  #b4 ,expansion ( d5ial (        
d$uction = c]ta9 excessive employee     
remun]ation  7a7 ,application to all    

curr5t & =m] employees  7#a7 ,9 g5]al   
,section #afb7m7 ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$--  7,a7 by /rik+ 
cov]$ employee ea* place x appe>s 9     
p>agraphs 7#a7 & 7#d7 & ins]t+ cov]$    
individual1 &  7,b7 by /rik+ su*        
employee ea* place x appe>s 9           
subp>agraphs 7,a7 & 7,g7 ( p>agraph 7#d7
 & ins]t+ su* individual4  7#b7 ,cov]$  
individual ,section #afb7m77#c7 ( su*   
,code is am5d$ to read z foll[s3  7#c7  
,cov]$ individual ,= purposes ( ?is     
subsection1 ! t]m cov]$ individual means
 any individual :o is an (fic]1         
director1 or employee ( ! taxpay] or a  
=m] (fic]1 director1 or employee ( !    
taxpay]4  4  7#c7 ,con=m+ am5dm5ts  7,a7
 ,section #dh;,d7b77#c77;,a7 ( su* ,code
 is am5d$ by ins]t+ 7z 9 effect =       
taxable ye>s beg9n+ be=e ,janu>y #a1    
#bjae7 aft] section #afb7m77#c74  7,b7  
,section #dji;,a7b77#c77;,d77ii7 ( su*  
,code is am5d$ by ins]t+ 7z 9 effect =  
taxable ye>s beg9n+ be=e ,janu>y #a1    
#bjae7 aft] section #afb7m77#c74  7b7   

,expansion ( applicable employee        
remun]ation  7#a7 ,elim9ation (         
exception = commission-bas$ pay  7,a7 ,9
 g5]al ,section #afb7m77#d7 ( su* ,code1
 z am5d$ by subsection 7a71 is am5d$ by 
/rik+ subp>agraph 7,b7 & by r$esignat+  
subp>agraphs 7,c7 ?r\gh 7,g7 z          
subp>agraphs 7,b7 ?r\gh 7,f71           
respectively4  7,b7 ,con=m+ am5dm5ts    
7i7 ,section #afb7m77#e7 ( su* ,code is 
am5d$--  7,i7 by /rik+ subp>agraphs     
7,b71 7,c71 & 7,d7 !re( 9 subp>agraph   
7,e7 & ins]t+ subp>agraphs 7,b7 & 7,c7  
!re(1 &  7,,ii7 by /rik+ subp>agraphs   
7,f7 & 7,g7 9 subp>agraph 7,g7 & ins]t+ 
subp>agraphs 7,e7 & 7,f74  7ii7 ,section
 #afb7m77#f7 ( su* ,code is am5d$-- 7,i7
 by /rik+ subp>agraphs 7,b71 7,c71 &    
7,d7 !re( 9 subp>agraph 7,d7 & ins]t+   
subp>agraphs 7,b7 & 7,c7 !re(1 &  7,,ii7
 by /rik+ subp>agraphs 7,f7 & 7,g7 9    
subp>agraph 7,g7 & ins]t+ subp>agraphs  
7,e7 & 7,f74  7#b7 ,inclusion (         
p]=mance-bas$ comp5sation  7,a7 ,9 g5]al
 ,section #afb7m77#d7 ( su* ,code1 z    

am5d$ by subsection 7a7 & p>agraph 7#a7 
( ?is subsection1 is am5d$ by /rik+     
subp>agraph 7,b7 & r$esignat+           
subp>agraphs 7,c7 ?r\gh 7,f7 z          
subp>agraphs 7,b7 ?r\gh 7,e71           
respectively4  7,b7 ,con=m+ am5dm5ts    
7i7 ,section #afb7m77#e7 ( su* ,code1 z 
am5d$ by p>agraph 7#a71 is am5d$-- 7,i7 
by /rik+ subp>agraphs 7,b7 & 7,c7 !re( 9
 subp>agraph 7,e7 & ins]t+ subp>agraph  
7,b7 !re(1 &  7,,ii7 by /rik+           
subp>agraphs 7,e7 & 7,f7 9 subp>agraph  
7,g7 & ins]t+ subp>agraphs 7,d7 & 7,e74 
7ii7 ,section #afb7m77#f7 ( su* ,code1 z
 am5d$ by p>agraph 7#a71 is am5d$--     
7,i7 by /rik+ subp>agraphs 7,b7 & 7,c7  
!re( 9 subp>agraph 7,d7 & ins]t+        
subp>agraph 7,b7 !re(1 &  7,,ii7 by     
/rik+ subp>agraphs 7,e7 & 7,f7 9        
subp>agraph 7,g7 & ins]t+ subp>agraphs  
7,d7 & 7,e74  7c7 ,expansion (          
applicable employ] ,section #afb7m77#b7 
( su* ,code is am5d$ to read z foll[s3  
7#b7 ,publicly held corporation ,=      
purposes ( ?is subsection1 ! t]m        

publicly held corporation means any     
corporation :i* is an issu] 7z def9$ 9  
section #c ( ! ,securities ,ex*ange ,act
 ( #aicd 7#ae ,u4,s4,c4 #gh;c77--  7,a7 
t has a class ( securities regi/]$ "u   
section #ab ( su* ,act 7#ae ,u4,s4,c4   
#ghl71 or  7,b7 t is requir$ to file    
reports "u section #ae7;d7 ( su* ,act   
7#ae ,u4,s4,c4 #ghj7;d774  4  7d7       
,regulatory au?ority  7#a7 ,9 g5]al     
,section #afb7m7 ( su* ,code is am5d$ by
 add+ at ! end ! foll[+ new p>agraph3   
7#g7 ,regulations ,! ,secret>y may      
prescribe su* guidance1 rules1 or       
regulations1 includ+ ) respect to       
report+1 z are necess>y to c>ry out !   
purposes ( ?is subsection4  4  7#b7     
,con=m+ am5dm5t ,section #afb7m77#f7 (  
su* ,code is am5d$ by /rik+ subp>agraph 
7,h74  7e7 ,effective date ,! am5dm5ts  
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjad4