Introduced Version






HOUSE BILL No. 1161

_____


DIGEST OF INTRODUCED BILL



Citations Affected: None (noncode).

Synopsis: Study committee on corporate accountability. Creates the interim study committee on corporate accountability to study issues related to unreasonable executive compensation prior to or following corporate bankruptcy.

Effective: July 1, 2006.





Kuzman, Stilwell




    January 9, 2006, read first time and referred to Committee on Commerce, Economic Development and Small Business.







Introduced

Second Regular Session 114th General Assembly (2006)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2005 Regular Session of the General Assembly.

HOUSE BILL No. 1161



    A BILL FOR AN ACT concerning labor and safety.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: ; (06)IN1161.1.1. -->     SECTION 1. [EFFECTIVE JULY 1, 2006] (a) As used in this SECTION, "committee" refers to the interim study committee on corporate accountability established by this SECTION.
    (b) There is established the interim study committee on corporate accountability. The committee shall study issues related to unreasonable executive compensation prior to or following corporate bankruptcy.
    (c) The committee shall operate under the policies governing study committees adopted by the legislative council.
    (d) The committee consists of eight (8) members as follows:
        (1) Two (2) members of the house of representatives appointed by the speaker of the house of representatives. The members appointed under this subdivision may not be members of the same political party.
        (2) Two (2) members of the senate appointed by the president pro tempore of the senate. The members appointed under this subdivision may not be members of the same political party.
        (3) Two (2) members appointed by the governor who are

representatives of business and labor.
        (4) The executive director of the prosecuting attorneys council of Indiana or the executive director's designee.
        (5) The executive director of the public defender council of Indiana or the executive director's designee.
    (e) The chairman of the legislative council shall appoint a chairperson of the committee from one of the legislative members of the committee.
    (f) The affirmative votes of a majority of the members appointed to the committee are required for the committee to take action on any measure, including final reports.
    (g) This SECTION expires January 1, 2007.