S. 1006: Excessive Pay Shareholder Approval Act

111th Congress · introduced 2009-05-07 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5291)

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Where it came from: introduced 2009-05-07 · official record
Who proposed it: Sen. Durbin, Richard J. [D-IL] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5291) 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.

What does this mean?

Official title

Excessive Pay Shareholder Approval Act

Plain summary

Excessive Pay Shareholder Approval Act - Amends the Securities Exchange Act of 1934 to prohibit the compensation for an employee of an issuer of securities in any single taxable year from exceeding 100 times the average compensation for services performed by all the issuer's employees during such taxable year. Allows higher compensation only if at least 60% of the shareholders have voted to approve it (through a proxy or consent or authorization for an annual or other meeting of the shareholders, occurring within the preceding 18 months).

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Excessive Pay Shareholder Approval Act

Source: Congressional Research Service summary (Introduced in Senate)

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Officials and money

Sponsor: Sen. Durbin, Richard J. [D-IL] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Durbin, Richard J. [D-IL] reported raising $84,084 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1006.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s1006 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111