summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation relative to excessive executive compensation. Revenue.
AI Summary
This bill aims to address excessive executive compensation by imposing an additional 2% tax on the net income of financial institutions and publicly-held corporations whose compensation ratio (the ratio of the CEO or highest-paid employee's compensation to the median employee's compensation) exceeds 100. The bill defines "compensation ratio" and specifies that the additional tax would apply to taxable years beginning on or after January 1, 2025.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Accompanied a study order, see H4720 (on 06/12/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S1858 |
| BillText | https://malegislature.gov/Bills/193/S1858.pdf |
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