To require certain large government contractors that receive more than 80 percent of their annual gross revenue from Federal contracts to disclose the names and salaries of their most highly compensated officers, and for other purposes.
Government Funding Transparency Act of 2008 - Amends the Federal Funding Accountability and Transparency Act to require the Office of Management and Budget (OMB) to ensure that the federal awards website includes for each federal award of assistance or expenditures of $25,000 or more the names and total compensation of the five most highly compensated officers of the receiving entity if: (1) the entity in the preceding fiscal year received 80% or more of its annual gross revenues and $25 million or more in annual gross revenues from federal awards; and (2) the public does not have access to information about the compensation of the entity's senior executives through reports filed under the Securities Exchange Act of 1934 or the Internal Revenue Code.
Requires the Director of OMB to promulgate regulations to carry out this Act that include a definition of "total compensation" that is consistent with regulations of the Securities and Exchange Commission (SEC) concerning executive compensation.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR H11853)
Referred to the House Committee on Oversight and Government Reform.
Referred to the Subcommittee on Government Management, Organization, and Procurement.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee by Voice Vote .
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Oversight and Government. H. Rept. 110-594.
Reported (Amended) by the Committee on Oversight and Government. H. Rept. 110-594.
Placed on the Union Calendar, Calendar No. 367.
Mr. Towns moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2574-2577)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3928.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H2575)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2575)
Motion to reconsider laid on the table Agreed to without objection.
The title of the measure was amended. Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
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