H.R.4483 - Protecting Taxpayers from Excessive Compensation Act of 2010
To prohibit compensation for any officer or employee of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, during any conservatorship or receivership of such enterprise, in an amount exceeding the compensation provided to the Chairman of the Joint Chiefs of Staff of the Armed Forces.
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To prohibit compensation for any officer or employee of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, during any conservatorship or receivership of such enterprise, in an amount exceeding the compensation provided to the Chairman of the Joint Chiefs of Staff of the Armed Forces.CommentsClose CommentsPermalink
To prohibit compensation for any officer or employee of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, during any conservatorship or receivership of such enterprise, in an amount exceeding the compensation provided to the Chairman of the Joint Chiefs of Staff of the Armed Forces.CommentsClose CommentsPermalink
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink
SEC. 2. LIMITATION ON COMPENSATION DURING CONSERVATORSHIP OR RECEIVERSHIP.
Subsection (b) of section 1367 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 is amended by adding at the end the following new paragraph:CommentsClose CommentsPermalink
‘(20) COMPENSATION FOR ENTERPRISES- In addition to the requirements and limitations under section 1318, the Agency, as conservator or receiver of any enterprise, shall prohibit the provision of compensation to any employee, officer, or executive officer of the enterprise, for any period during such conservatorship or receivership, in an amount exceeding the rate of basic pay at such time for the Chairman of the Joint Chiefs of Staff of the Armed Forces.’.CommentsClose CommentsPermalink
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U.S. Congress - Text of H.R.4483 as Introduced in House Protecting Taxpayers from Excessive Compensation Act of 2010
