,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fcfj ,,in ,,the ,,house ,,of ,,representatives ,march #bc1 #bjbj,ms4 ,ocasio-,cortez 7for herself1 ,ms4 ,tlaib1 and ,ms4 ,pressley7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to establish requirements on accelerated filers receiving ,federal aid related to ,,covid-#ai1 to establish requirements on all corporations until ,federal aid related to ,,covid-#ai is repaid1 and for other purposes4 #a4 ,requirements on all corporations until ,federal aid related to ,,covid-#ai is repaid ,any corporation that receives ,federal aid related to ,,covid-#ai shall1 until the date on which all such ,federal aid is repaid by the corporation to the ,federal ,government1 comply with the following3 7#a7 ,restrictions on executive bonuses ,the corporation may not pay a bonus to any executive of the corporation4 7#b7 ,ban on executive golden parachutes ,the corporation may not pay any type of compensation 7whether present1 deferred1 or contingent7 to an executive of the corporation1 if such compensation is in connection with the termination of employment of the executive4 7#c7 ,ban on stock buybacks ,the corporation may not purchase securities of the corporation4 7#d7 ,ban on dividends ,the corporation may not pay dividends on securities of the corporation4 7#e7 ,ban on ,federal lobbying ,the corporation may not carry out any ,federal lobbying activities4 #b4 ,permanent requirements on accelerated filers receiving ,federal aid related to ,,covid-#ai 7a7 ,in general ,an accelerated filer that receives ,federal aid related to ,,covid-#ai shall permanently comply with the following3 7#a7 ,worker board representation 7,a7 ,in general ,at least #ac of the members of the accelerated filer's directors are chosen by the employees of the accelerated filer in a one-employee-one-vote election process4 7,b7 ,compliance date ,an accelerated filer shall comply with the requirements under subparagraph 7,a7 not later than the end of the #b-year period beginning on the date of enactment of this ,act4 7,c7 ,definitions ,in this paragraph-- 7i7 the term director has the meaning given the term in section #c of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c72 and 7ii7 the term employee has the meaning given the term in section #b of the ,national ,labor ,relations ,act 7#bi ,u4,s4,c4 #aeb74 7#b7 ,additional disclosures ,if the securities of the corporation are traded on a national securities exchange1 the corporation shall issue the following disclosures to the ,securities and ,exchange ,commission on a quarterly basis 7and make such disclosures available to shareholders of the corporation and the public73 7,a7 ,the political spending disclosures required under subsection 7b74 7,b7 ,the human capital management disclosures required under subsection 7c74 7,c7 ,the environmental1 social1 and governance disclosures required under subsection 7d74 7,d7 ,the ,federal aid disclosures required under subsection 7e74 7,e7 ,the disclosures of financial performance on a country-by-country basis required under subsection 7f74 7b7 ,political spending disclosures 7#a7 ,in general ,with respect to an accelerated filer1 the disclosures required under this subsection are-- 7,a7 a description of any expenditure for political activities made during the preceding quarter2 7,b7 the date of each expenditure for political activities2 7,c7 the amount of each expenditure for political activities2 7,d7 if the expenditure for political activities was made in support of or opposed to a candidate1 the name of the candidate and the office sought by1 and the political party affiliation of1 the candidate2 7,e7 the name or identity of trade associations or organizations described in section #eja7;c7 of the ,internal ,revenue ,code of #aihf and exempt from tax under section #eja7;a7 of such ,code which receive dues or other payments as described in paragraph 7#a77;,a77i77,,iii72 7,f7 a summary of each expenditure for political activities made during the preceding year in excess of #aj1jjj1 and each expenditure for political activities for a particular election if the total amount of such expenditures for that election is in excess of #aj1jjj2 7,g7 a description of the specific nature of any expenditure for political activities the corporation intends to make for the forthcoming fiscal year1 to the extent the specific nature is known to the corporation2 and 7,h7 the total amount of expenditures for political activities intended to be made by the corporation for the forthcoming fiscal year4 7#b7 ,definitions ,in this subsection3 7,a7 ,expenditure for political activities ,the term expenditure for political activities-- 7i7 means-- 7,i7 an independent expenditure 7as defined in section #cja7ag7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaja7ag7772 7,,ii7 an electioneering communication 7as defined in section #cjd7;f77#c7 of that ,act 7#eb ,u4,s4,c4 #cjajd7;f77#c777 and any other public communication 7as defined in section #cja7bb7 of that ,act 7#eb ,u4,s4,c4 #cjaja7bb777 that would be an electioneering communication if it were a broadcast1 cable1 or satellite communication2 or 7,,iii7 dues or other payments to trade associations or organizations described in section #eja7;c7 of the ,internal ,revenue ,code of #aihf and exempt from tax under section #eja7;a7 of that ,code that are1 or could reasonably be anticipated to be1 used or transferred to another association or organization for the purposes described in subclause 7,i7 or 7,,ii72 and 7ii7 does not include-- 7,i7 direct lobbying efforts through registered lobbyists employed or hired by the corporation2 7,,ii7 communications by a corporation to its shareholders and executive or administrative personnel and their families2 or 7,,iii7 the establishment and administration of contributions to a separate segregated fund to be utilized for political purposes by a corporation4 7,b7 ,exception ,the term corporation does not include an investment company registered under section #h of the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#h74 7c7 ,human capital management disclosures ,with respect to an accelerated filer1 the disclosures required under this subsection are the following3 7#a7 ,workforce demographic information1 including the number of full-time employees1 the number of part-time employees1 the number of contingent workers 7including temporary and contract workers71 and any policies or practices relating to subcontracting1 outsourcing1 and insourcing4 7#b7 ,workforce stability information1 including information about the voluntary turnover or retention rate1 the involuntary turnover rate1 the internal hiring rate1 and the internal promotion rate4 7#c7 ,workforce composition1 including data on diversity 7including racial and gender composition7 and any policies and audits related to diversity4 7#d7 ,workforce skills and capabilities1 including information about training of employees 7including the average number of hours of training and spending on training per employee per year71 skills gaps1 and alignment of skills and capabilities with business strategy4 7#e7 ,workforce culture and empowerment1 including information about-- 7,a7 policies and practices of the corporation relating to freedom of association and work-life balance initiatives2 7,b7 any incidents of verified workplace harassment in the previous #e fiscal years of the corporation2 and 7,c7 policies and practices of the corporation relating to employee engagement and psychological wellbeing1 including management discussion regarding-- 7i7 the creation of an autonomous work environment2 7ii7 fostering a sense of purpose in the workforce2 7iii7 trust in management2 and 7iv7 a supportive1 fair1 and constructive workplace4 7#f7 ,workforce health and safety1 including information about-- 7,a7 the frequency1 severity1 and lost time due to injuries1 illness1 and fatalities2 7,b7 the total dollar value of assessed fines under the ,occupational ,safety and ,health ,act of #aigj2 7,c7 the total number of actions brought under section #ac of the ,occupational ,safety and ,health ,act of #aigj to prevent imminent dangers2 and 7,d7 the total number of actions brought against the corporation under section #aa7;c7 of the ,occupational ,safety and ,health ,act of #aigj4 7#g7 ,workforce compensation and incentives1 including information about-- 7,a7 total workforce compensation1 including disaggregated information about compensation for full-time1 part-time1 and contingent workers2 7,b7 policies and practices about how performance1 productivity1 and sustainability are considered when setting pay and making promotion decisions2 and 7,c7 policies and practices relating to any incentives and bonuses provided to employees below the named executive level and any policies or practices designed to counter any risks create by such incentives and bonuses4 7#h7 ,workforce recruiting1 including information about the quality of hire1 new hire engagement rate1 and new hire retention rate4 7d7 ,environmental1 social1 and governance disclosures ,with respect to an accelerated filer1 the disclosures required under this subsection are disclosures that satisfy the recommendations of the ,task ,force on ,climate-related ,financial ,disclosures of the ,financial ,stability ,board as reported in ,june1 #bjag4 7e7 ,federal aid disclosures ,with respect to an accelerated filer1 the disclosure required under this subsection is a description of how the ,federal aid related to ,,covid-#ai received by the corporation is being used to support the corporation's employees4 7f7 ,disclosures of financial performance on a country-by-,country basis 7#a7 ,in general ,with respect to an accelerated filer1 the disclosures required under this subsection are the following3 7,a7 ,constituent entity information ,information on any constituent entity of the corporation1 including the following3 7i7 ,the complete legal name of the constituent entity4 7ii7 ,the tax jurisdiction1 if any1 in which the constituent entity is resident for tax purposes4 7iii7 ,the tax jurisdiction in which the constituent entity is organized or incorporated 7if different from the tax jurisdiction of residence74 7iv7 ,the tax identification number1 if any1 used for the constituent entity by the tax administration of the constituent entity's tax jurisdiction of residence4 7v7 ,the main business activity or activities of the constituent entity4 7,b7 ,tax jurisdiction ,information on each tax jurisdiction in which one or more constituent entities is resident1 presented as an aggregated or consolidated form of the information for the constituent entities resident in each tax jurisdiction1 including the following3 7i7 ,revenues generated from transactions with other constituent entities4 7ii7 ,revenues not generated from transactions with other constituent entities4 7iii7 ,profit or loss before income tax4 7iv7 ,total income tax paid on a cash basis to all tax jurisdictions4 7v7 ,total accrued tax expense recorded on taxable profits or losses4 7vi7 ,stated capital4 7vii7 ,total accumulated earnings4 7viii7 ,total number of employees on a full-time equivalent basis4 7ix7 ,net book value of tangible assets1 which1 for purposes of this section1 does not include cash or cash equivalents1 intangibles1 or financial assets4 7,c7 ,special rules ,the information listed in subparagraph 7,b7 shall be provided1 in aggregated or consolidated form1 for any constituent entity or entities that have no tax jurisdiction of residence4 ,in addition1 if a constituent entity is an owner of a constituent entity that does not have a jurisdiction of tax residence1 then the owner's share of such entity's revenues and profits will be aggregated or consolidated with the information for the owner's tax jurisdiction of residence4 7#b7 ,definitions ,in this subsection-- 7,a7 the term constituent entity means1 with respect to an accelerated filer1 any separate business entity of the accelerated filer2 and 7,b7 the term tax jurisdiction-- 7i7 means a country or a jurisdiction that is not a country but that has fiscal autonomy2 and 7ii7 includes a territory or possession of the ,united ,states that has fiscal autonomy4 #c4 ,permanent requirements on all corporations receiving ,federal aid related to ,,covid-#ai ,any corporation that receives ,federal aid related to ,,covid-#ai shall permanently comply with the following3 7#a7 ,paid leave for workers ,the corporation shall provide at least #ad days of paid leave to workers who-- 7,a7 are unable to telework2 7,b7 need to be isolated or quarantined to prevent the spread of ,,covid-#ai2 or 7,c7 need time off to care for the needs of family members4 7#b7 ,minimum wage 7,a7 ,in general ,the corporation shall pay each employee 7including full-time1 part-time1 and tipped employees7 of the corporation a wage of not less than #ae an hour1 beginning not later than ,january #a1 #bjba4 7,b7 ,sense of ,congress ,it is the sense of the ,congress that each corporation described under subparagraph 7,a7-- 7i7 should meet the minimum wage requirements described under subparagraph 7,a7 before ,january #a1 #bjba1 if the corporation is able2 and 7ii7 should ensure that other companies with respect to which the corporation contracts also pay their employees the minimum wage described under subparagraph 7,a74 7#c7 ,limitation on ,,ceo and executive pay ,the corporation may not have a ,,ceo to median worker pay ratio of greater than #ej to #a and no officer or employee of the corporation may received higher compensation than the chief executive officer 7or any equivalent position74 #d4 ,requirements on all corporations receiving ,federal aid related to ,,covid-#ai until the end of the emergency ,any corporation that receives ,federal aid related to ,,covid-#ai shall1 until the ,,covid-#ai emergency ends1 comply with the following3 7#a7 ,workforce levels and benefits ,the corporation shall maintain at least the same workforce levels and benefits that existed before the ,,covid-#ai emergency4 7#b7 ,maintenance of worker pay ,the corporation shall maintain worker 7either employee or contractor1 full-time or part-time7 pay throughout the entire duration of the ,,covid-#ai emergency at or above the pay level the worker was earning before the emergency4 7#c7 ,maintenance of collective bargaining agreements ,the corporation may not alter any collective bargaining agreement that was in place at the beginning of the ,,covid-#ai emergency4 #e4 ,enforcement2 rulemaking ,the ,securities and ,exchange ,commission shall have the authority to enforce this ,act and may issue such rules as may be necessary to carry out this ,act4 #f4 ,severability ,if any provision of this ,act or the application of such provision to any person or circumstance is held to be unconstitutional1 the remainder of this ,act1 and the application of the provisions of this ,act1 to any person or circumstance shall not be affected thereby4 #g4 ,definitions ,in this ,act3 7#a7 ,accelerated filer ,the ,securities and ,exchange ,commission shall define the term accelerated filer for purposes of this ,act4 7#b7 ,,ceo to median worker pay ratio ,with respect to an accelerated filer1 the term ,,ceo to median worker pay ratio means the ratio of-- 7,a7 the annual total compensation1 including salary1 equity1 and any other form of compensation of the chief executive officer 7or any equivalent position7 of the corporation2 and 7,b7 the median of the annual total compensation of all employees of the corporation1 except the chief executive officer 7or any equivalent position7 of the corporation4 7#c7 ,,covid-#ai emergency ,the term ,,covid-#ai emergency means the period beginning on the date of enactment of this ,act and ending on the date on which the ,securities and ,exchange ,commission determines that the impact of ,,covid-#ai on the ,american financial system has ended4 7#d7 ,federal aid ,the term ,federal aid means any emergency lending provided under section #ac7c7 of the ,federal ,reserve ,act or any ,federal financial support in the form of a grant1 loan1 or loan guarantee4 7#e7 ,s corporation ,the term ,s corporation has the meaning given that term under section #acfa7;a7 of the ,internal ,revenue ,code of #aihf4 7#f7 ,securities terms ,the terms national securities exchange and security have the meaning given those terms1 respectively1 under section #c of the ,securities ,exchange ,act of #aicd4