US Congress House Bill 4324 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on March 27 2014 - 25% progression, died in committee
Action: 2014-03-27 - Referred to House Financial Services
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Truth in Settlements Act of 2014 - Sets forth new requirements for the public disclosure of any covered settlement agreement entered into by a federal executive agency. Defines "covered settlement agreement" as a settlement agreement (including a consent decree) that: (1) is entered into by an executive agency, (2) relates to an alleged violation of federal civil or criminal law, and (3) requires the payment of not less than $1 million by one or more non-federal persons (entities not within the federal government). Requires the head of each executive agency to make publicly available on the agency website a list of each covered settlement agreement entered into by the agency, which shall include: (1) the names of the parties to the settlement agreement and the date of such agreement; (2) a description of the claims that were settled under the agreement; (3) the amount each party to the agreement is obligated to pay under the terms of the agreement and the total amounts required to be paid; and (4) for each settling party, the amount the settling party is obligated to pay that has been designated as a civil penalty or fine. Requires: (1) such information to remain publicly available for five years after the date of the agreement, and (2) a copy of a covered settlement agreement to remain publicly available until at least one year after the date of the agreement, or until five years after such date for an agreement under which a non-federal person is required to pay not less than $50 million. Limits the disclosure of provisions of a covered settlement agreement that are subject to a confidentiality agreement. Requires the issuer of securities subject to reporting requirements under the Securities Exchange Act of 1934 to describe in required reports any claim of a tax deduction relating to a payment under a covered settlement agreement.

Truth in Settlements Act of 2014

Rep. Matthew Cartwright [D-PA]	Rep. Tom Cole [R-OK]	Rep. William Enyart [D-IL]	Rep. Zoe Lofgren [D-CA]
Sen. Cynthia Lummis [R-WY]	Rep. Mark Meadows [R-NC]	Rep. Eleanor Norton [D-DC]	Rep. Richard Nugent [R-FL]
Rep. Frank Pallone [D-NJ]	Rep. Bill Posey [R-FL]	Rep. Bobby Rush [D-IL]

Date	Chamber	Action
2014-03-27	House	Referred to House Financial Services
2014-03-27	House	Referred to House Oversight and Government Reform
2014-03-27	House	Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

SB1898 (Same As) 2014-09-18 - By Senator Carper from Committee on Homeland Security and Governmental Affairs filed written report. Report No. 113-259.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/4324/all-info
Text	https://www.congress.gov/113/bills/hr4324/BILLS-113hr4324ih.pdf