Public Law 114-93. Equity in Government Compensation Act of 2015
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/plaw/114/public/93A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An Act To suspend the current compensation packages for the chief executive officers of Fannie Mae and Freddie Mac, and for other purposes.Nov. 25, 2015[[S. 2036](/us/bill/114/s/2036)] * Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* Equity in Government Compensation Act of 2015.[12 USC 4518 note](/us/usc/t12/s4518). ## SECTION 1 SHORT TITLE This Act may be cited as the “Equity in Government Compensation Act of 2015”. ## SEC. 2 DEFINITIONS In this Act: ####
(1)Director The term “**Director**” means the Director of the Federal Housing Finance Agency. ####
(2)Enterprise The term “**enterprise**” means— #####
(A)the Federal National Mortgage Association and any affiliate thereof; and #####
(B)the Federal Home Loan Mortgage Corporation and any affiliate thereof. ## SEC. 3 REASONABLE PAY FOR CHIEF EXECUTIVE OFFICERS ###
(a)Suspension of Current Compensation Package and Limitation The Director shall suspend the compensation packages approved for 2015 for the chief executive officers of each enterprise and, in lieu of such packages, subject to the limitation under subsection (b), establish the compensation and benefits for each such chief executive officer at the same level in effect for such officer as of January 1, 2015, and such compensation and benefits may not thereafter be increased. ###
(b)Limitation on Bonuses Subsection
(a)shall not be construed to affect the applicability of section 16 of the STOCK Act ([12 U.S.C. 4518a](/us/usc/t12/s4518a)) to the chief executive officer of each enterprise. ###
(c)Applicability Subsection
(a)shall only apply to a chief executive officer of an enterprise if the enterprise is in conservatorship or receivership pursuant to section 1367 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ([12 U.S.C. 4617](/us/usc/t12/s4617)).129 STAT. 1311 ## SEC. 4 FANNIE AND FREDDIE CHIEF EXECUTIVE OFFICERS NOT FEDERAL EMPLOYEES [12 USC 4518 note](/us/usc/t12/s4518). Any chief executive officer affected by any provision under section 3 shall not be considered a Federal employee. Approved November 25, 2015.
Connections3 cite this · traces to 3
Cited by 3 sections
statutes-at-large
- Public Law 114–92To authorize appropriations for fiscal year 2016 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes
- Public Law 114–93To suspend the current compensation packages for the chief executive officers of Fannie Mae and Freddie Mac, and for other purposes
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Public Law 114-93
Equity in Government Compensation Act of 2015
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U.S.C.×1
Cites 3Cited by 3 across 2 sources