S.2036 - Equity in Government Compensation Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Vitter, David [R-LA] (Introduced 09/15/2015)|
|Latest Action:||11/25/2015 Became Public Law No: 114-93. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.2036 — 114th Congress (2015-2016)All Bill Information (Except Text)
(This measure has not been amended since it was introduced. The expanded summary of the Senate passed version is repeated here.) Equity in Government Compensation Act of 2015
Public Law No: 114-93 (11/25/2015)
(Sec. 3) This bill requires the Director of the Federal Housing Finance Agency to suspend the compensation packages approved for 2015 for the chief executive officers of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (government sponsored enterprises or GSEs), and any affiliates, and in lieu of such packages establish the compensation and benefits for each such chief executive officer at the same level in effect for that officer as of January 1, 2015. Such compensation and benefits may not thereafter be increased.
This suspension shall not be construed to affect the prohibition of the STOCK Act against receipt of bonuses by the chief executive officer of each GSE during any period of conservatorship. It shall only apply to such a chief executive officer if the GSE is in conservatorship or receivership as a critically undercapitalized regulated entity pursuant to the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.
(Sec. 4) Any chief executive officer affected by this compensation package suspension shall not be considered a federal employee.