December 5, 2008
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House

H.R. 205, National Small Business Regulatory Assistance Act
Sponsor: Rep. John Sweeney, R-N.Y.
Introduced: Jan. 7, 2003
Committee: House Small Business
Description: H.R. 205 would start a program aimed at helping small-business owners understand what they must do to comply with regulations. Under the bill, the Small Business Administration (SBA) would make arrangements with regional small-business development centers to providing training, education, technical assistance and one-on-one consulting to small businesses. Each participating center would have to electronically submit quarterly reports, and SBA would act as a data repository, providing annual reports to key policymakers.
H.R. 600, Investment Disclosure Act
Sponsor: Rep. Major Owens, D-N.Y.
Introduced: Feb. 5, 2003
Committee: House Financial Services
Description: H.R. 600 would require company officers or directors to contact the Securities and Exchange Commission (SEC) the day before they plan to sell company stock. The SEC would have to notify the public of such sales the same day, and companies with internal Web sites would have to post details of the sales online.
H.R. 626, Ending the Double Standard for Stock Options Act
Sponsor: Rep. Fortney (Pete) Stark, D-Calif.
Introduced: Feb. 5, 2003
Committee: House Ways and Means
Description: H.R.626 would require companies that claim the cost of employee stock options as a tax deduction to also report the value of those options as expenses on company balance sheets. Many technology firms that use stock options as incentives to hire and retain workers oppose such legislation. A similar Senate bill, S. 182, was introduced.
H.R. 773, 21st Century Access to Banking Act
Sponsor: Rep. Ruben Hinojosa, D-Texas
Introduced: Feb. 13, 2003
Committee: House Financial Services
Description: H.R. 773 would codify a policy that allows financial institutions to accept identification cards issued by the Mexican government to open accounts for immigrants. In 2002, the Treasury Department urged U.S. banks to accept “matricula consular” -- which are much like driver's licenses, with personal information such as names, birth dates and U.S. addresses, and the word "Mexico" printed in the upper left corner -- as a valid form of ID. More than 70 institutions now do so, but criticism of the policy is increasing, in part because Mexico reportedly does not have a secure computer system to track Mexican nationals who use the cards in the United States. The bill would codify the validity of the cards. Two competing bills, H.R. 502 and H.R. 687, would prohibit federal agencies from accepting any such foreign cards as identification.
H.R. 1035, Broadcast Ownership for the 21st Century Act
Sponsor: Rep. Cliff Stearns, R-Fla.
Introduced: Feb. 27, 2003
Committee: House Energy and Commerce
Description: H.R. 1035 would end the limits on media ownership within a given market. Under the bill, companies could obtain or renew AM or FM licenses for radio or television stations regardless of whether they own, operate or control daily newspapers in the same markets.
H.R. 1165, National Computer Recycling Act
Sponsor: Rep. Mike Thompson, D-Calif.
Introduced: March 6, 2003
Committee: House Energy and Commerce
Description: H.R. 1165 would require the Environmental Protection Agency (EPA) to create a computer-recycling program. Under the bill, the EPA would award grants on a competitive basis to organizations and state and local governments that recycle computers in an efficient and environmentally responsible manner. A $10 fee would be added to the cost of individual computers, monitors and laptops to fund the program.
H.R. 1197, Product Safety Notification and Recall Effectiveness Act
Sponsor: Rep. James Moran, D-Va.
Introduced: March 11, 2003
Committee: House Energy and Commerce
Description: S. 584 would require the Consumer Product Safety Commission to improve the system for alerting consumers to recalls of child-related products. Under the bill, companies would identify the buyers of their products via registration, either by cards completed and mailed or by Internet. The information would be compiled in an accessible database to be used in the event of recalls. In March 2003, the commission refused to consider implementing such a rule on its own. A Senate companion bill, S. 584, also was introduced.
H.R. 1216, Untitled
Sponsor: Rep. Albert Wynn, D-Md.
Introduced: March 11, 2003
Committee: House Small Business
Description: H.R. 1216 would increase the minimum government-wide goal for awarding procurement contracts to small businesses. The current goal is 23 percent, and the bill would increase it to 25 percent. The measure is one of several that Rep. Albert Wynn, D-Md., introduced the same day to try to aid small businesses. The other measures are H.R. 1217, H.R. 1218 and H. Res. 138.
H.R. 1217, Subcontractor Protection Act
Sponsor: Rep. Albert Wynn, D-Md.
Introduced: March 11, 2003
Committee: House Small Business
Description: H.R. 1217 would require a federal contractor to pay a penalty for canceling a contract with a small business. The penalties would be: no less than $5,000 for those contracts worth $100,000 or less; 3 percent of the contract's total amount if it is worth between $100,000 and $5 million; and 5 percent of the contract's total amount if it is worth more than $5 million. The measure is one of several that Rep. Albert Wynn, D-Md., introduced the same day to try to aid small businesses. The other measures are H.R. 1216, H.R. 1218 and H. Res. 138.
H.R. 1218, Untitled
Sponsor: Rep. Albert Wynn, D-Md.
Introduced: March 11, 2003
Committee: House Government Reform; Armed Services
Description: H.R. 1218 would require those contractors who do business with the federal government to have a record of integrity and business ethics. That integrity would extend to tax, labor, employment, environmental, antitrust, and consumer protection laws. A company's entire history would be considered, but the emphasis would be on the last three years of operation. The measure is one of several that Rep. Albert Wynn, D-Md., introduced the same day to try to aid small businesses. The other measures are H.R. 1216, H.R. 1217 and H. Res. 138.
H.R. 1372, Broad-Based Stock Option Plan Transparency Act
Sponsor: Rep. David Dreier, D-Calif.
Introduced: March 20, 2003
Committee: House Financial Services
Description: H.R. 1372 would move the discussion about calculating the cost of employee stock options from the Financial Accounting Standards Board (FASB) to the Securities and Exchange Commission (SEC). The bill was introduced in response to fears that FASB will change accounting rules to require companies to record stock options as expenses, a move opposed by the technology industry. The measure would require the SEC to enhance the current disclosures about stock options but also forbid the agency from recognizing new accounting standards for options until it studies the issue for three years. In addition, the legislation calls for a one-year study on how stock plans affect research and development, economic growth and worker recruitment.
H.R. 1556, Corporate Accountability Tax Gap Act
Sponsor: Rep. Lloyd Doggett, D-Texas
Introduced: April 2, 2003
Committee: House Ways and Means
Description: H.R. 1556 would amend the tax code to require corporations to electronically file their tax returns and make that information available online within 30 days of the filing. The companies would have to enable people to search the data on corporate income taxes, taxable income and employee stock options, among other things.
H.R. 2172, Untitled
Sponsor: Rep. Thaddeus McCotter, R-Mich.
Introduced: May 20, 2003
Committee: House Energy and Commerce
Description: H.R. 2172 would establish the position of Commerce undersecretary for manufacturing. The person’s duties would include representing the interests of the manufacturing sector, developing policies that promote the expansion of the sector and reviewing policies that could damage it. Presidential nominees for the job would be subject to Senate confirmation.
H.R. 2179, Securities Fraud Deterrence and Investor Restitution Act
Sponsor: Rep. Richard Baker, R-La.
Introduced: May 21, 2003
Committee: House Financial Services
Description: H.R. 2179 seeks to strengthen enforcement powers at the Securities and Exchange Commission (SEC). Among other provisions, the bill would let the SEC obtain necessary bank records in securities investigations, encourage private parties to provide documents helpful to investigations, authorize criminal prosecutors to release limited grand-jury information to SEC staff, and improve the SEC's authority to serve subpoenas nationwide.
H.R. 2184, Fairness and Accountability in International Taxation Act
Sponsor: Rep. Lloyd Doggett, D-Texas
Introduced: May 21, 2003
Committee: House Ways and Means
Description: H.R. 2184 seeks to prevent foreign companies from avoiding U.S. taxes and manipulating prices for their goods and services via offshore tax havens. The bill would not allow a foreign company to be eligible for a reduced tax rate on deductible foreign payments unless people in that country own a majority of the company.
H.R. 2314, Linking Educators and Developing Entrepreneurs for Reaching Success (LEADERS) Act
Sponsor: Rep. John Tierney, D-Mass.
Introduced: June 3, 2003
Committee: House Education and the Workforce
Description: H.R. 2314 would authorize grants to universities, colleges and their nonprofit subsidiaries to create and nurture business incubators within academia. The measure would authorize $20 million for the program over each of the next three years. Funding preference would be given to proposals that encourage collaboration among educational institutions, local governments, businesses and economic development leaders. Grants, which applicants would have to match dollar for dollar, would fund space for incubators to operate, curriculum development, and studies on the development and establishment of business incubators.
H.R. 2448, Untitled
Sponsor: Rep. Gerald Weller, R-Ill.
Introduced: June 12, 2003
Committee: House Ways and Means
Description: H.R. 2448 would amend the tax code as it applies to how long companies can carry back net operating losses. The measure would extend the special five-year carry-back of some operating losses, allowing losses for 2003 to be taken until 2005. It aims to provide tax relief to entrepreneurs and business owners, including technology firms.
H.R. 2521, Fair, Transparent and Competitive Internet Naming Act
Sponsor: Rep. Brian Baird, D-Wash.
Introduced: June 19, 2003
Committee: House Energy and Commerce
Description: H.R. 2521 seeks to preserve and foster competition among small retailers of Internet addresses by blocking by the Internet Corporation for Assigned Names and Numbers (ICANN) from implementing a waiting list for domain names. The list enables consumers to register to purchase domains when they expire. Baird's bill also would require a probe of certain ICANN operation procedures. The measure was introduced at the behest of several domain retailers.
H.R. 2526, Restoration of Freedom of Information Act
Sponsor: Rep. Barney Frank, D-Mass.
Introduced: June 19, 2003
Committee: House Government Reform; Homeland Security
Description: H.R. 2526 would require the Homeland Security Department to meet the conditions of the Freedom of Information Act (FOIA) under more circumstances. FOIA requires government agencies to make information publicly available. The 2002 law that created the department exempts Homeland Security from FOIA when the information involved is related to "critical infrastructure," physical facilities or computers. The bill would revert to narrower definitions of "critical information" that is "voluntarily submitted" and repeal a provision that criminalized the disclosure of information on computer networks. The measure also would not limit the government's ability to share information with other agencies. A Senate companion bill, S. 609, also was introduced.
H.R. 2908, American Manufacturing Works Act
Sponsor: Rep. Mark Udall, D-Colo.
Introduced: July 25, 2003
Committee: House Science
Description: H.R. 2908 would create a position for an undersecretary of the Commerce Department focused on manufacturing. The bill would authorize $2 million in fiscal 2004 for the undersecretary’s work and gradually increase that amount to $2.2 million by fiscal 2007. The measure also would authorize funds for a research lab at the National Institute of Standards and Technology, starting at $60 million in fiscal 2004 and increasing to $68.85 million in fiscal 2007. And it would authorize from $219.4 million in fiscal 2004 to $290.4 million in fiscal 2007 for the Advanced Technology Partnership, a program targeted for elimination by the Bush administration.
H.R. 3275, Clean Contracting in Iraq Act
Sponsor: Rep. Carolyn Maloney, D-N.Y.
Introduced: Oct. 8, 2003
Committee: House Government Reform
Description: H.R. 3275 would require the executive branch to give Congress details on all government contracts of $1 million or more for reconstruction work in Iraq. The required data would include copies of the contracts and all modifications; orders issued under the contracts; government cost estimates; cost or price analyses; audit reports, among other things.
H. Res. 138, Untitled
Sponsor: Rep. Albert Wynn, D-Md.
Introduced: March 11, 2003
Committee: House Small Business
Description: H. Res. 138 would express the House's view that small businesses should seek to develop products geared toward combating terrorism. The non-binding resolution also would encourage the government to aggressively seek partnerships with small businesses. The measure is one of several that Rep. Albert Wynn, D-Md., introduced the same day to try to aid small businesses. The other measures are H.R. 1216, H.R. 1217 and H.R. 1218.

Senate

S. 181, Stock Option Accounting Review Act
Sponsor: Sen. Carl Levin, D-Mich.
Introduced: Jan. 16, 2003
Committee: Senate Banking, Housing and Urban Affairs
Description: S.181 is one of two bills that seek to ensure that companies never again inflate their income "with impunity," according to sponsor Carl Levin, D-Mich. The measure would direct the Financial Accounting Standards Board to review the current accounting treatment for employee stock options and, within one year, establish new standards. Current policy does not require companies to record such options as expenses. The other bill Levin authored is S. 182.
S. 182, Ending the Double Standard for Stock Options Act
Sponsor: Sen. Carl Levin, D-Mich.
Introduced: Jan. 16, 2003
Committee: Senate Finance
Description: S.182 would end the policy that allows companies to take a tax deduction for employee stock options unless they also record that compensation as a business expense on their financial statements. The bill is one of two designed to ensure that companies never again inflate their income "with impunity," according to sponsor Carl Levin, D-Mich. The other bill Levin authored is S. 181.
S. 503, Untitled
Sponsor: Sen. John Kerry, D-Mass.
Introduced: March 4, 2003
Committee: Senate Finance
Description: S. 503 would increase the minimum tax credit that employees could claim if they sell at a loss the incentive stock options provided by their employers.
S. 513, Corporate Tax Fairness and Shareholder Rights Act
Sponsor: Sen. Evan Bayh, D-Ind.
Introduced: March 4, 2003
Committee: Senate Finance
Description: S. 513 would prevent American companies from creating offshore postal accounts in order to claim that they are foreign based to avoid U.S. taxes. The bill would change what constitutes a U.S. company by linking it to the location of the company's shareholders rather than its postal address. In addition, companies looking to move offshore would have to give basic information to shareholders regarding the moves. The companies then would have to give the Securities and Exchange Commission lists of shareholders who approved the moves, and the lists would have to be made publicly available.
S. 563, Computer Owners' Bill of Rights
Sponsor: Sen. Mark Dayton, D-Minn.
Introduced: March 6, 2003
Committee: Senate Commerce, Science and Transportation
Description: S. 563 was introduced in response to consumer complaints about unsolicited commercial e-mail, or spam, and about poor customer service from major computer companies. The bill would require the FTC to establish an anti-spam registry similar to the "do not call" list for telemarketers. Companies that send e-mail to anyone who joins the list would be subject to $10,000 fines for each violation. The measure also would require the General Accounting Office to study the issue of customer service by computer companies and make recommendations to Congress on ways to aid consumers, and the FTC would have to craft industry standards for computer technical support.
S. 584, Product Safety Notification and Recall Effectiveness Act
Sponsor: Sen. Mary Landrieu, D-La.
Introduced: March 10, 2003
Committee: Senate Commerce, Science and Transportation
Description: S. 584 would require the Consumer Product Safety Commission to improve the system for alerting consumers to recalls of child-related products. Under the bill, companies would identify the buyers of their products via registration, either by cards completed and mailed or by Internet. The information would be compiled in an accessible database to be used in the event of recalls. In March 2003, the commission refused to consider implementing such a rule on its own. A House companion bill, H.R. 1197, also was introduced.
S. 690, Prevention of Stock-Option Abuse Act
Sponsor: Sen. Ron Wyden, D-Ore.
Introduced: March 21, 2003
Committee: Senate Banking, Housing and Urban Affairs
Description: S. 690 would change the rules governing companies' grants of stock options to corporate executives. The bill would direct the Securities and Exchange Commission to issue rules requiring shareholders to approve such stock-option plans, substantial vesting periods for the options and holding periods for stock shares. Better and more frequent information would have to be provided to shareholders and investors.
S. 697, Untitled
Sponsor: Sen. Orrin Hatch, R-Utah
Introduced: March 24, 2003
Committee: Senate Finance
Description: S. 697 would alter the tax treatment of employee stock options. The bill would exclude stock options and employee stock-purchase plans from the definition of wages for purposes of calculating employment taxes, including Social Security taxes, railroad retirement taxes and unemployment taxes. The exemption also would apply to wage withholding.
S. 832, Corporate Accountability in Bankruptcy Act
Sponsor: Sen. Charles Grassley, R-Iowa
Introduced: April 9, 2003
Committee: Senate Judiciary
Description: S. 832 would clarify bankruptcy law as it applies to the awarding of bonuses, loans, non-qualified deferred compensation and other types of non-traditional pay to company executives. The bill would allow company trustees to recover such compensation paid within a certain timeframe before the filing of bankruptcy petitions if the executives who received the pay committed securities fraud or accounting violations.
S. 979, Broad-Based Stock-Option Plan Transparency Act
Sponsor: Sen. John Ensign, R-Nev.
Introduced: May 1, 2003
Committee: Senate Banking, Housing and Urban Affairs
Description: S. 979 would temporarily prohibit accounting regulators from requiring publicly owned companies to record the value of employee stock options as expenses. The measure would ban such a mandate for three years and require the Commerce Department to study the financial merits of stock-option expensing. Under current law, companies must only include footnotes about stock options in their books, but some accounting officials and lawmakers have pushed for a change in that practice in part because of concerns that the failure to report the cost of stock options misleads investors about corporate bottom lines. The legislation also would require companies to disclose to shareholders information about the use of employee stock options.
S. 1326, Untitled
Sponsor: Sen. George Voinovich, R-Ohio
Introduced: June 25, 2003
Committee: Senate Commerce, Science and Transportation
Description: S. 1326 would create the position of assistant Commerce secretary for manufacturing. The president would nominate the person to fill the post, and the job would entail promoting manufacturing interests in the United States and reviewing policies that affect the sector. The assistant secretary would report to Congress each year and make annual forecasts.
S. 1480, Buy American Improvement Act
Sponsor: Sen. Russell Feingold, D-Wis.
Introduced: July 29, 2003
Committee: Senate Governmental Affairs
Description: S. 1480 would amend a 1933 law that requires the U.S. government to purchase goods and services from domestic sources, or to "buy American." The bill would increase from 50 percent to 75 percent the standard for determining when a product is made primarily from domestic content. It also would restrict the ability of federal agencies to make agreements with foreign entities if the deals would give the foreign partners access to information that could help them make "dual-use technologies," or those with both civilian and military applications.
S. 1873, Call Center Consumer's Right to Know Act
Sponsor: Sen. Thomas Daschle, D-S.D.
Introduced: Nov. 17, 2003
Committee: Senate Commerce, Science and Transportation
Description: S. 1873 would require employees at technical-support call centers who place or receive calls to inform the callers where the support center is located. Noncompliance could result in civil penalties. Advocates of the measure said many callers do not know that sometimes third-party contractors field the calls from international locations.
S. 1884, Enhance Domestic Manufacturing and Worker Assistance Act
Sponsor: Sen. Thomas Daschle, D-S.D.
Introduced: Nov. 18, 2003
Committee: Senate Finance
Description: S. 1884 is one in a series of three bills aimed at helping small businesses and manufacturers. The measure would establish a community assistance program within the Commerce Department to provide leadership, support and coordination to economically disadvantaged communities. The Commerce secretary would designate communities in need of aid. The legislation would authorize $350 million for the endeavor.
S. 1885, Manufacturing Job Production Act
Sponsor: Sen. Thomas Daschle, D-S.D.
Introduced: Nov. 18, 2003
Committee: Senate Finance
Description: S. 1885 is one in a series of three bills aimed at helping small businesses and manufacturers. The measure would provide tax incentives for manufacturing businesses.
S. 1886, Manufacturing Assistance, Development and Education (MADE) in America Act
Sponsor: Sen. Thomas Daschle, D-S.D.
Introduced: Nov. 18, 2003
Committee: Senate Finance
Description: S. 1886 is one in a series of three bills aimed at helping small businesses and manufacturers. The legislation would establish the National Office for the Development of Small Manufacturers, which would serve as a resource for small manufacturers.
S. 1890, Stock Option Accounting Act
Sponsor: Sen. Michael Enzi, R-Wyo.
Introduced: Nov. 19, 2003
Committee: Senate Banking, Housing and Urban Affairs
Description: S. 1890 is designed to curtail plans to revamp accounting standards for employee stock options and to address the issue of excessive executive compensation. The bill would require companies to expense stock options for their top five executives and retain the current practice for other employees' options. The measure, introduced to counteract plans by the Financial Accounting Standards Board to require the expensing of all stock options, also would prohibit expensing until the true value of options can be estimated. And the measuare would require the Labor and Commerce departments to conduct an economic impact study on the accounting change.
S. 1958, Mutual Fund Investor Protection Act
Sponsor: Sen. John Kerry, D-Mass.
Introduced: Nov. 25, 2003
Committee: Senate Banking, Housing and Urban Affairs
Description: S. 1958 would prevent mutual funds from engaging in "late trading," or the purchasing of stock shares at the previous day’s closing prices. The bill, introduced in the wake of a scandal involving mutual funds, also would establish a board to oversee the industry. Violators of the rules could be prosecuted under federal racketeering law.
S. 1977, Small Manufacturers Assistance, Recovery and Trade Act
Sponsor: Sen. Olympia Snowe, D-Maine
Introduced: Nov. 25, 2003
Committee: Senate Small Business and Entrepreneurship
Description: S. 1977 would create an assistant secretary’s post in the Commerce Department to focus on the manufacturing sector. The assistant secretary’s office would include task forces on interagency manufacturing and small-business manufacturing to support and encourage small manufacturing companies as they compete for global contracts internationally and against foreign firms that import goods into the United States.

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