Dreier Cosponsors New Bill Relating to Stock Option Expensing

November 24, 2003

WASHINGTON, DC - Congressman David Dreier (R-San Dimas) recently joined a bipartisan group of his colleagues to introduce a new piece of legislation relating to the issue of stock option expensing. The Stock Option Accounting Reform Act, H.R. 3574, was introduced last Friday by Congressman Richard Baker (R-LA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, and Congresswoman Anna G. Eshoo (D-CA). It is identical to legislation recently introduced by Senator Mike Enzi (R-WY).

"This is yet another important step in our effort to preserve broad-based stock options plans," Dreier said. "The introduction of the Baker-Eshoo bill is a positive development in the stock options expensing debate. I look forward to working with Chairman Baker in moving forward legislation that protects investors and allows entrepreneurial companies to retain the flexibility to use broad-based stock options to attract high-quality talent and motivate ingenuity."

Congressman Dreier introduced his own legislation dealing with this issue earlier this year. The Broad-Based Stock Option Plan Transparency Act of 2003, H.R. 1372, currently has 106 co-sponsors.