,,ii  #aafth ,,congress  #ast ,session  
,s4 #bhdd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,november #ac1 
#bjai,mr4 ,schumer 7for ,ms4 ,harris7   
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,finance  ,a ,,bill  ,to  
provide that certain executives of      
publicly traded utility companies may   
not receive bonuses or severance        
payments1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,accountability for ,utility        
,executives ,act4  #b4 ,prohibitions on 
certain bonuses and severance payments  
7a7 ,definitions ,in this section--     
7#a7 the term bankruptcy proceedings    
means a case commenced under title #aa1 
,united ,states ,code2  7#b7 the term   
,c-suite executive means1 with respect  
to a covered company--  7,a7 the chief  
executive officer of the covered        
company2  7,b7 the chief financial      
officer of the covered company2  7,c7   
the chief operating officer of the      

covered company2  7,d7 the chief        
information officer of the covered      
company2 and  7,e7 the equivalent of an 
official described in any of            
subparagraphs 7,a7 through 7,d72  7#c7  
the term covered company means an       
issuer--  7,a7 that--  7i7 is a debtor  
in bankruptcy proceedings2 and  7ii7    
7,i7 is an owner or operator of--  7aa7 
a public water system2 or  7bb7 a       
treatment works2 or  7,,ii7 is an       
electric utility2 and  7,b7 the         
securities of which are traded on a     
national securities exchange2  7#d7 the 
term electric utility has the meaning   
given the term in section #c of the     
,federal ,power ,act 7#af ,u4,s4,c4     
#gif72  7#e7 the terms exchange1 issuer1
 and security have the meanings given   
the terms in section #c7;a7 of the      
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a772  7#f7 the term    
golden parachute compensation means1    
with respect to a covered company1 any  
type of compensation 7whether present1  

deferred1 or contingent7 that is based  
on or otherwise relates to the          
acquisition1 merger1 consolidation1     
sale1 or other disposition of all or    
substantially all of the assets of the  
covered company2  7#g7 the term national
 securities exchange means an exchange  
that is registered under section #f of  
the ,securities ,exchange ,act of #aicd 
7#ae ,u4,s4,c4 #gh;f72  7#h7 the term   
public water system has the meaning     
given the term in section #adja of the  
,safe ,drinking ,water ,act 7#db        
,u4,s4,c4 #cjj;f72 and  7#i7 the term   
treatment works has the meaning given   
the term in section #bab of the ,federal
 ,water ,pollution ,control ,act 7#cc   
,u4,s4,c4 #abib74  7b7 ,prohibition     
7#a7 ,in general ,a covered company may 
not--  7,a7 pay a bonus to a ,c-suite   
executive of the covered company2 or    
7,b7 otherwise provide an individual    
described in subparagraph 7,a7 with any 
golden parachute compensation4  7#b7    
,taxation ,if a covered company pays a  

bonus or otherwise provides compensation
 in violation of paragraph 7#a71 that   
bonus or compensation1 as applicable1   
shall be treated for purposes of the    
,internal ,revenue ,code of #aihf as if 
it were an excess parachute payment     
under section #bhj;,g of such ,code4