1. Short title This Act may be cited as the Stop Subsidizing Multimillion Dollar Corporate Bonuses Act . 2. Expansion of denial of deduction for certain excessive employee remuneration (a) In general (1) Expansion Section 162(m) of the Internal Revenue Code of 1986 is amended— (A) by striking applicable employee remuneration each place it appears in paragraphs (1), (4), and (5)(E) and inserting applicable remuneration , (B) by striking covered employee each place it appears in paragraphs (1) and (4) and inserting covered individual , and (C) by striking employee each place it appears in paragraph (1) and subparagraphs (A), (C)(ii), and (E) of paragraph (4) and inserting individual . (2) Covered individual Paragraph (3) of section 162(m) of such Code is amended to read as follows: (3) Covered individual For purposes of this subsection, the term covered individual means— (A) any individual who performs services (directly or indirectly) for the taxpayer (or any predecessor) for any taxable year beginning after December 31, 2022, or (B) any employee— (i) who was the principal executive officer or principal financial officer of the taxpayer (or any predecessor) at any time during any preceding taxable year beginning after December 31, 2016, and before January 1, 2023, or who was an individual acting in such a capacity, or (ii) the total compensation of whom for any taxable year described in clause (i) was required to be reported to shareholders under the Securities Exchange Act of 1934 by reason of such individual being among the 3 highest compensated officers for the taxable year (other than any individual described in clause (i)). Such term shall include any employee who would be described in subparagraph (B)(ii) if the reporting described in such subparagraph were required as so described. . (3) Conforming amendments (A) The heading for section 162(m) of the Internal Revenue Code of 1986 is amended by striking employee . (B) The heading for section 162(m)(4) is amended by striking employee . (b) Modification of