I
107TH CONGRESS
1ST SESSION
H. R. 1580
To provide that Commodity Futures Trading Commission employees may
be paid on a par with employees of other government financial institutions.
IN THE HOUSE OF REPRESENTATIVES
APRIL 25, 2001
Mr. CHAMBLISS introduced the following bill; which was referred to the Com-
mittee on Agriculture, and in addition to the Committee on Government
Reform, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned
A BILL
To provide that Commodity Futures Trading Commission
employees may be paid on a par with employees of other
government financial institutions.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. PAY PARITY FOR COMMODITY FUTURES TRAD-
ING COMMISSION EMPLOYEES.
(a) IN GENERAL.—
(1) Section 2(a) of the Commodity Exchange
Act (7 U.S.C. 4a) is amended by redesignating para-
graphs (7) through (11) as paragraphs (8) through
(12), respectively, and by inserting after paragraph
(6) the following:
‘‘(7) APPOINTMENT AND COMPENSATION.—
‘‘(A) IN GENERAL.—The Commission may
appoint and fix the compensation of such offi-
cers, attorneys, economists, examiners, and
other employees as may be necessary for car-
rying out its functions under this Act.
‘‘(B) RATES OF PAY.—Rates of basic pay
for all employees of the Commission may be set
and adjusted by the Commission without regard
to the provisions of chapter 51 or subchapter
III of chapter 53 of title 5, United States Code.
‘‘(C) COMPARABILITY.—The Commission
may provide additional compensation and bene-
fits to employees of the Commission if the same
type of compensation or benefits are then being
provided by any agency referred to under sec-
tion 1206(a) of the Financial Institutions Re-
form, Recovery, and Enforcement Act of 1989
(12 U.S.C. 1833b) or, if not then being pro-
vided, could be provided by such an agency
under applicable provisions of law, rule, or reg-
ulation. In setting and adjusting the total
amount of compensation and benefits for em-
ployees, the Commission shall consult with, and
seek to maintain comparability with, the agen-
cies referred to under section 1206(a) of the Fi-
nancial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 1833b).’’.
(2) 
CONFORMING
AMENDMENTS.—Section
12(b) of such Act (7 U.S.C. 16(b)) is amended by
striking paragraph (2) and redesignating paragraphs
(3) and (4) as paragraphs (2) and (3), respectively.
(b) REPORTING OF INFORMATION.—Section 1206 of
the Financial Institutions Reform, Recovery, and Enforce-
ment Act of 1989 (12 U.S.C. 1833b) is amended—
(1) by inserting ‘‘(a) IN GENERAL.—’’ before
‘‘The Federal Deposit’’;
(2) by striking ‘‘the Thrift Depositor Protection
Oversight Board of the Resolution Trust Corpora-
tion’’; and
(3) by adding at the end the following:
‘‘(b) REPORTING OF INFORMATION.—In establishing
and adjusting schedules of compensation and benefits for
employees of the Commodity Futures Trading Commis-
sion under applicable provisions of law, the Commission
shall inform the heads of the agencies referred to under
subsection (a) and Congress of such compensation and