United States 116th Congress Status: Died 1 D cosponsors

HR 6851 — To require major corporations receiving Federal aid related to COVID-19 to make annual payments of equity to employees of the corporation while such aid is outstanding, and for other purposes.

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Requires a major corporation that receives federal aid related to COVID-19 (i.e., coronavirus disease 2019) to make an annual grant of equity to its employees until all such federal aid is repaid. A major corporation is a corporation that, among other things, has its securities traded on a national securities exchange, has to register its securities with the Securities and Exchange Commission, and has an aggregate market value of $75 million. The number of shares of stock such a corporation must grant to its employees shall be determined according to a specified formula. Such grant (1) shall be a grant of whole shares of stock; (2) may not be conditioned on the purchase of company stock or any employee performance evaluations; and (3) shall be equal, in terms of voting and dividend rights, to the class of securities otherwise issued by the corporation that carries the highest such rights.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 6851 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

  2. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

Commerce Cardiovascular and respiratory health Corporate finance and management Emergency medical services and trauma care Employee benefits and pensions Government lending and loan guarantees Infectious and parasitic diseases Securities Wages and earnings
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Frequently asked questions

What does HR 6851 do?
Requires a major corporation that receives federal aid related to COVID-19 (i.e., coronavirus disease 2019) to make an annual grant of equity to its employees until all such federal aid is repaid. A major corporation is a corporation that, among other things, has its securities traded on a national securities exchange, has to register its securities with the Securities and Exchange Commission, and has an aggregate market value of $75 million. The number of shares of stock such a corporation must grant to its employees shall be determined according to a specified formula. Such grant (1) shall be a grant of whole shares of stock; (2) may not be conditioned on the purchase of company stock or any employee performance evaluations; and (3) shall be equal, in terms of voting and dividend rights, to the class of securities otherwise issued by the corporation that carries the highest such rights.
Who sponsors HR 6851?
HR 6851 is sponsored by Alexandria Ocasio-Cortez (D).
What is the current status of HR 6851?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 6851?
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Last checked for changes about 13 hours ago · updated continuously

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