H.R. 4476 (111th): Equity in Government Compensation Act of 2010

Introduced:
Jan 20, 2010 (111th Congress, 2009–2010)
Sponsor:
Rep. Spencer Bachus III [R-AL6]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 1221 (112th) on Mar 29, 2011.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 20, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 20, 2010
Cosponsors
8 cosponsors (8R) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To suspend the current compensation packages for the senior executives of Fannie Mae and Freddie Mac and establish compensation for such positions in accordance with rates of pay for senior employees in the Executive Branch of the Federal Government, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jan 20, 2010.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/20/2010--Introduced.
Equity in Government Compensation Act of 2010 - Requires the Director of the Federal Housing Finance Agency to: (1) suspend immediately the compensation packages approved for 2010 for the executive officers of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) establish, in lieu of such packages, a compensation system for such officers in accordance with the rates of pay for positions in the Executive Schedule and the Senior Executive Service of the federal government. Expresses the sense of Congress that each executive officer of Fannie Mae and Freddie Mac should return to the Secretary of the Treasury (clawback) any compensation earned in 2009 that was in excess of the maximum annual rate of basic pay authorized for a position in level I of the Executive Schedule. Instructs the Secretary of the Treasury to transfer any such amounts returned to the Secretary to a specified account in the Treasury for receiving gifts and proceeds from their sale or redemption, and dedicated to reducing the public debt.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

Slip Laws

Slip laws refer to enacted bills and joint resolutions in their original form as enacted by Congress, that is, before other laws amend them. Slip laws are cited as “Public Law XXX-YYY”, where XXX is the number of the Congress in which the bill or resolution was introduced.

  • Public Law 110-289

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

Statutes at Large

The United States Statutes at Large is the compilation of all laws enacted by Congress.

  • 122 Stat. 2678