H.R. 6987: Taxpayer Bailout Protection Act of 2008
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H.R. 6987: Taxpayer Bailout Protection Act of 2008
110th Congress · introduced 2008-09-22 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.
federal
Follow this bill, step by step
- Where it came from: introduced 2008-09-22 · official record
- Who proposed it: Rep. Feeney, Tom [R-FL-24] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Taxpayer Bailout Protection Act of 2008
Plain summary
Taxpayer Bailout Protection Act of 2008 - Amends the Sarbanes-Oxley Act of 2002 to require an officer of an issuer of registered securities to pay to the Department of the Treasury any bonus or other incentive-based or equity-based compensation received from the issuer during a year in which the issuer is subject to a taxpayer bailout and the two prior years. Defines "taxpayer bailout" as: (1) placement of the issuer under conservatorship, receivership, or other assumption of the management, governance, and control of the issuer by the Treasury or by the Board of Governors of the Federal Reserve; or (2) an emergency loan of public funds made to the issuer by the Treasury or the Board, if the Board Chairman determines that such a loan is necessary to prevent the issuer's imminent failure.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Taxpayer Bailout Protection Act of 2008
Source: Congressional Research Service summary (Introduced in House)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Feeney, Tom [R-FL-24] · 4 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110hr6987.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/hr>
Record fed-us-cong110-hr6987 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110