,,ii  #aah? ,,congress  #a/ ,session    
,s4 #hjj  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #ad1 #bjbc,mr4    
,blum5?al introduc$ ! foll[+ bill2 :i* 0
 read twice & ref]r$ to ! ,committee on 
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to impose a high] 
rate ( tax on bonuses & pr(its f sales (
 /ock receiv$ by executives employ$ by  
fail+ banks t 7 clos$ & = :i* ! ,f$]al  
,deposit ,insurance ,corporation has be5
 appo9t$ z cons]vator or receiv]4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,deliv] ,executive ,pr(its ,on ,seiz$   
,in/itutions to ,taxpay]s ,act or !     
,,deposit ,act4  #b4 ,s5se ( ! ,s5ate ,x
 is ! s5se ( ! ,s5ate t ! rev5ue rais$ f
 ! tax impos$ "u subsection 7k7 (       
section #a ( ! ,int]nal ,rev5ue ,code ( 
#aihf 7z add$ by section #c7 w be       
return$ to ! ,deposit ,insurance ,fund  
7z def9$ 9 section #c ( ! ,f$]al        
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac774  #c4 ,high] rate ( tax on      
bonuses & /ock pr(its receiv$ by c]ta9  

bank executives  7a7 ,9 g5]al ,section  
#a ( ! ,int]nal ,rev5ue ,code ( #aihf is
 am5d$ by add+ at ! end ! foll[+ new    
subsection3  7k7 ,rate ( tax on pr(its  
receiv$ by c]ta9 bank executives  7#a7  
,9 g5]al ,9 ! case ( any applicable     
individual :o receives any exclud$      
pr(its dur+ ! taxable ye>1 ! tax impos$ 
by ?is section %all be equal to-- 7,a7 !
 tax :i* w\ld be impos$ by ?is section  
if ! taxable income ( su* individual = !
 taxable ye> 7 r$uc$ 7b n bel[ z]o7 by !
 am\nt ( ! exclud$ pr(its receiv$ by su*
 individual dur+ su* taxable ye>1 plus  
7,b7 #ij p]c5t ( ! exclud$ pr(its       
describ$ 9 subclause 7,i7 ( p>agraph    
7#b77;,b77i7 :i* 7 receiv$ by su*       
individual dur+ su* taxable ye>1 plus   
7,c7 #ajj p]c5t ( ! exclud$ pr(its      
describ$ 9 subclause 7,,ii7 ( su*       
p>agraph :i* 7 receiv$ by su* individual
 dur+ su* taxable ye>4  7#b7 ,def9itions
 ,= purposes ( ?is subsection-- 7,a7    
,applicable individual ,! t]m applicable
 individual means any individual-- 7i7  

:o-- 7,i7 0 employ$ by an insur$        
depository in/itution = :i* ! ,f$]al    
,deposit ,insurance ,corporation has be5
 appo9t$ cons]vator or receiv]1 &       
7,,ii7 s]v$ z an executive (fic] = su*  
in/itution prior to su* cons]vator%ip or
 receiv]%ip1 &  7ii7 ) respect to !     
taxable ye> 9 :i* ! exclud$ pr(its 7    
receiv$1 ^: adju/$ gross income 7r$uc$  
by ! am\nt ( su* exclud$ pr(its7 = su*  
taxable ye> 0 great] ?an #bej1jjj4  7,b7
 ,exclud$ pr(its  7i7 ,9 g5]al ,! t]m   
exclud$ pr(its means1 ) respect to any  
applicable individual = any taxable     
ye>-- 7,i7 any paym5t 9 ! nature ( a    
bonus :i* is paid-- 7aa7 aft] ,m>* #a1  
#bjbc1 &  7bb7 by any insur$ depository 
in/itution )9 ! #fj-;day p]iod prior to 
! date on :i* ! ,f$]al ,deposit         
,insurance ,corporation 0 appo9t$       
cons]vator or receiv] = su* in/itution1 
or  7,,ii7 any pr(it made by su*        
applicable individual f ! sale ( any    
security ( ! insur$ depository          
in/itution t employs su* applicable     

individual1 if t sale occurs n m ?an #fj
 days be=e ! date on :i* ! ,f$]al       
,deposit ,insurance ,corporation is     
appo9t$ cons]vator or receiv] ) respect 
to ! insur$ depository in/itution4  7ii7
 ,controll$ gr\ps  7,i7 ,9 g5]al ,=     
purposes ( clause 7i71 all p]sons treat$
 z a s+le employ] "u subsection 7a7 or  
7b7 ( section #eb or "u subsection 7m7  
or 7o7 ( section #dad %all be treat$ z  
"o p]son4  7,,ii7 ,inclusion ( =eign    
corporations ,= purposes ( subclause    
7,i71 9 apply+ subsections 7a7 & 7b7 (  
section #eb to ?is section1 section     
#aefc %all be appli$ )\t reg>d to       
subsection 7b77#b77;,c7 !re(4  7,c7     
,executive (fic] ,! t]m executive (fic] 
means1 ) respect to any insur$          
depository in/itution1 its presid5t1 any
 vice presid5t ( su* in/itution 9 *>ge (
 a pr9cipal bus9ess unit1 division or   
function 7su* z sales1 adm9i/ration or  
f9ance71 any o!r (fic] :o p]=ms a policy
 mak+ function or any o!r p]son :o p]=ms
 simil> policy mak+ functions = su*     

in/itution4 ,executive (fic]s (         
subsidi>ies may be deem$ executive      
(fic]s ( su* in/itution if !y p]=m su*  
policy mak+ functions = su* in/itution4 
7,d7 ,insur$ depository in/itution ,!   
t]m insur$ depository in/itution has !  
same mean+ giv5 su* t]m "u section #c ( 
! ,f$]al ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahac74  4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to taxable ye>s end+ aft] ! date 
( ! enactm5t ( ?is ,act4