1. Short title This Act may be cited as the Tax Excessive CEO Pay Act of 2024 . 2. Corporate tax increase based on compensation ratio (a) In general Section 11 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (e) Tax increase based on pay ratio (1) In general (A) Increase imposed In the case of any corporation (except as provided in subparagraph (B)(ii)(II)) the pay ratio of which is greater than 50 to 1 for a taxable year, the 21 percent rate under subsection (b) for such taxable year shall be increased by the penalty determined under paragraph (2). (B) Pay ratio For purposes of this subsection— (i) In general The term pay ratio means the ratio described in section 229.402(u)(1)(iii) of title 17, Code of Federal Regulations (or any successor thereto), except that if the highest compensated employee of the corporation is not the principal executive officer, the ratio shall be determined based on the compensation of such highest compensated employee. (ii) Corporations not subject to SEC filing In the case of a corporation which (without regard to this clause) is not subject to the authorities described in section 229.10(a) of title 17, Code of Federal Regulations (or any successor thereto)— (I) Large corporations If the average annual gross receipts of such corporation for the 3-taxable-year period ending with the taxable year which precedes such taxable year are at least $100,000,000, such corporation shall calculate and report its pay ratio according to the method which the Secretary shall prescribe by regulations consistent with the regulation described in clause (i). (II) Other private corporations exempt Subparagraph (A) shall not apply to any such corporation if the average annual gross receipts of such corporation for the 3-taxable-year period ending with the taxable year which precedes such taxable year are less than $100,000,000. (2) Amount of penalty The penalty determined under this paragraph is an increase, expressed in percentage points, determined in