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UNUSED OLD A Bill Ensuring the Accountability of Corporate Executives

Millard North

1. BE IT ENACTED BY THE STUDENT CONGRESS HERE ASSEMBLED THAT:
2. Article I: All corporate executives of financial institutions who
3. have, will, or are currently receiving funds from the federal
4. government as part of any economic stimulus packages instituted after
5. the date 1 June 2008 are obligated to donate all income which
6. they receive from the company by which they are employed above and
7. beyond their yearly salaries (i.e. bonuses) for the 2008-2009 fiscal
8. year to the federal government so to show their commitment to the
9. rectification of the global economic recession primarily caused by
10. poor management of the financial industry.
11. Article II: A corporate executive is an employee of a financial
12. institution holding any position involved with the direct management
13. of the institution, including but not limited to Chief Executive
14. Officer, Chief Operating Officer, Chief Financial Officer, President,
15. Chairperson, etc., making a yearly salary exceeding $250,000 per year.
16. Article III: This bill is to be implemented upon its passage.
17. Article IV: The agency responsible for overseeing and enforcing the
18. effects of this bill is the Internal Revenue Service, a division of
19. the United States Department of the Treasury.
20. Article V: All legislation in existence that conflicts with this bill
21. is declared null and void upon the date of this bill's passage.

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