Equity in Government Compensation Act of 2015

Bill: 114-s-2036
Sponsor: Sen. Vitter, David [R-LA]
Introduced: 2015-09-15 in the Senate
Policy area: Housing and Community Development
Subjects: Government corporations and government-sponsored enterprises
Government employee pay, benefits, personnel management
Housing finance and home ownership
Wages and earnings

Summary:
action_date: 2015-09-15
text: 

Equity in Government Compensation Act of 2015

 
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.
 
Any chief executive officer affected by this compensation package suspension shall not be considered a federal employee.

action_date: 2015-09-15
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Equity in Government Compensation Act of 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.

action_date: 2015-11-16
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

 
(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.

action_date: 2015-11-25
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
 
(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.


Legislative actions:
action_date: 2015-11-25
text: Became Public Law No: 114-93.
action_date: 2015-11-25
text: Became Public Law No: 114-93.
action_date: 2015-11-25
text: Signed by President.
action_date: 2015-11-25
text: Signed by President.
action_date: 2015-11-19
text: Presented to President.
action_date: 2015-11-19
text: Presented to President.
action_date: 2015-11-16
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2015-11-16
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8221-8222)
action_date: 2015-11-16
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8221-8222)
action_date: 2015-11-16
text: DEBATE - The House proceeded with forty minutes of debate on S. 2036.
action_date: 2015-11-16
text: Considered under suspension of the rules. (consideration: CR H8221-8223)
action_date: 2015-11-16
text: Mr. Hensarling moved to suspend the rules and pass the bill.
action_date: 2015-09-16
text: Held at the desk.
action_date: 2015-09-16
text: Received in the House.
action_date: 2015-09-16
text: Message on Senate action sent to the House.
action_date: 2015-09-15
text: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S6659; text as passed Senate: CR S6659)
action_date: 2015-09-15
text: Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S6659; text as passed Senate: CR S6659)
action_date: 2015-09-15
text: Introduced in Senate

Enacted as: number: 114-93