US Congress House Bill 2675 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: Introduced on May 25 2017 - 25% progression, died in committee
Action: 2017-05-25 - 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.
Pending: House Oversight And Government Reform Committee
Text: Latest bill text (Introduced) [PDF]

Truth in Settlements Act of 2017 This bill sets forth new requirements for the public disclosure of any covered settlement agreement entered into by a federal executive agency. The bill 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 at least $1 million by one or more non-federal persons (entities not within the federal government). Each executive agency must 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 expressly specified as a civil penalty or fine and as not deductible for tax purposes. The bill requires: (1) such information to remain publicly available for not less than five years, beginning on the date of the agreement; and (2) a copy of a covered settlement agreement to remain publicly available for a period of not less than one year, beginning on the date of the agreement, or for at least five years for an agreement under which a non-federal person is required to pay not less than $50 million. The bill limits the disclosure of provisions of a covered settlement agreement that are subject to a confidentiality agreement. The issuer of securities subject to reporting requirements under the Securities Exchange Act of 1934 must describe in required reports any claim of a tax deduction relating to a payment under a covered settlement agreement.

Truth in Settlements Act of 2017

Rep. Matthew Cartwright [D-PA]	Rep. Bill Posey [R-FL]	Rep. Jim Cooper [D-TN]	Rep. Marcy Kaptur [D-OH]
Rep. Frank Pallone [D-NJ]	Rep. Tom Cole [R-OK]	Rep. Jerrold Nadler [D-NY]

Date	Chamber	Action
2017-05-25	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.
2017-05-25	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.
2017-05-25	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.
2017-05-25	House	Introduced in House

SB1145 (Same As) 2017-05-17 - Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2675/all-info
Text	https://www.congress.gov/115/bills/hr2675/BILLS-115hr2675ih.pdf