Corporate Management Accountability Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 9736 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 9736 To ensure that irresponsible corporate executives, rather than shareholders, pay fines and penalties. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 20, 2024 Ms. Porter introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To ensure that irresponsible corporate executives, rather than shareholders, pay fines and penalties. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Corporate Management Accountability Act of 2024''. SEC. 2. FINE, PENALTY, AND SETTLEMENT ACCOUNTABILITY. (a) Definitions.--In this section-- (1) the term ``Commission'' means the Securities and Exchange Commission; (2) the term ``covered fine or similar penalty''-- (A) means any amount-- (i) that is denied a deduction under paragraph (1) of section 162(f) o…