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Public Law114th CongressHousing and Community Development
S. 2036Became Law

Equity in Government Compensation Act of 2015

This bill became law

Filed
Comm.
Floor
Both
Law

What it doesSummary public law (Nov 25, 2015)

(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.

What just happenedNov 25, 2015

Became Public Law No: 114-93.

Who’s behind it

Sen. Vitter, David [R-LA](R-LA)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors18actions2related bills4subjects
  1. Nov 25, 2015President

    Became Public Law No: 114-93.

  2. Nov 25, 2015BecameLaw36000

    Became Public Law No: 114-93.

  3. Nov 25, 2015President

    Signed by President.

  4. Nov 25, 2015BecameLaw36000

    Signed by President.

  5. Nov 19, 2015Floor

    Presented to President.

  6. Nov 19, 2015President28000

    Presented to President.

  7. Nov 16, 2015FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  8. Nov 16, 2015FloorH37300

    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8221-8222)

  9. Nov 16, 2015Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8221-8222)

  10. Nov 16, 2015FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on S. 2036.

  11. Nov 16, 2015FloorH30000

    Considered under suspension of the rules. (consideration: CR H8221-8223)

  12. Nov 16, 2015FloorH30300

    Mr. Hensarling moved to suspend the rules and pass the bill.

  13. Sep 16, 2015FloorH15000

    Held at the desk.

  14. Sep 16, 2015FloorH14000

    Received in the House.

  15. Sep 16, 2015Floor

    Message on Senate action sent to the House.

  16. Sep 15, 2015Floor

    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)

  17. Sep 15, 2015Floor17000

    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)

  18. Sep 15, 2015IntroReferral10000

    Introduced in Senate

Public LawNov 25, 201549

(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.

Passed House without amendmentNov 16, 201581

(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.

Introduced in SenateSep 15, 2015

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.

Passed Senate without amendmentSep 15, 201582

(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.

Equity in Government Compensation Act of 2015 — Informed