UPDATE 1-US House panel backs bill to get AIG bonuses back

*Congress considers various plans to recoup AIG bonuses

*Pelosi wants 'closure' on legislation by next week

(adds quotes and details)

WASHINGTON, March 18 (Reuters) - The Democratic-controlled U.S. House of Representatives Judiciary Committee on Wednesday approved legislation aimed at recovering $165 million in bonuses paid to AIG executives after the insurer got billions of dollars in government aid.

Kicking off efforts by Congress to recoup such bonuses, the bill would authorize the U.S. attorney general to seek repayment of past excessive compensation from employees of companies that have received more than $10 billion in U.S. financial aid.

Other lawmakers have suggested an excise tax to get some or all of the money back.

With the House of Representatives and Senate considering several different legislative responses to the American International Group Inc (AIG.N) bonus controversy, it was not yet clear how the measure approved by the House Judiciary Committee would proceed. On Tuesday, House Speaker Nancy Pelosi said she wanted "closure" on legislation by next week.

The measure, approved by voice vote by the Judiciary Committee, also would allow the attorney general to restrict future payments to executives to ten times the average non-management wages at companies getting federal aid.

"The legislation before us represents an effort to safeguard taxpayer funds and rein in out-of-control compensation and bonus abuses by companies that have used federal financial assistance to avoid bankruptcy," said Representative John Conyers, the panel chairman.

Some Republicans praised the concept of trying to recoup the bonuses but questioned the method, expressing concern that it runs afoul of current U.S. law and potentially the U.S. Constitution.

"Congress has let expediency override common sense," said Representative Lamar Smith, the top Judiciary Committee Republican. "Congress already has learned the hard way the unintended consequences of rushing to legislate without adequate expert testimony and debate, but that's exactly what we are doing now."

Some Democrats also questioned the constitutionality of the legislation.

The chairman and chief executive of AIG, Edward Liddy, told a different House panel he asked employees receiving more than $100,000 in bonuses to repay at least half. [ID:nN18369214]

Liddy, who took over as head of AIG in September when the government stepped in with the first of a series of rescues, said he was trying to prevent the company from collapsing when he allowed the bonuses.

(Reporting by Jeremy Pelofsky, editing by Vicki Allen)