Equity in Government Compensation Act of 2011

3.0.0 1221 2023-01-11T13:20:16Z 2023-01-11T13:20:16Z House H HR 2011-03-29 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BACHUS:H.R. 1221.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clauses 3: (``To regulate Commercewith foreign Nations, and among the several States, and withthe Indian Tribes''), and 18 (``To make all Laws which shallbe necessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof'').[Page H2038]]]> hsgo00 Oversight and Accountability Committee House Standing hsgo25 Information Technology Subcommittee Referred to 2011-04-01T18:25:06Z Discharged from 2012-01-18T00:45:11Z Referred to 2011-03-29T18:01:45Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Reported by 2011-04-06T13:28:54Z Markup by 2011-04-06T13:28:08Z Referred to 2011-04-04T21:05:19Z Hearings by 2011-03-31T20:27:42Z Reported by 2012-01-18T00:44:54Z Markup by 2011-11-15T14:44:56Z Referred to 2011-03-29T18:01:40Z H. Rept. 112-366 2012-01-17 Placed on the Union Calendar, Calendar No. 247. Calendars H12410 2 House floor actions U00247 2012-01-17 Committee on Oversight and Government discharged. Discharge H12300 2 House floor actions hsgo00 Oversight and Accountability Committee 2012-01-17 Committee on Oversight and Government discharged. Committee 5500 9 Library of Congress hsgo00 Oversight and Accountability Committee 2012-01-17 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-366, Part I. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2012-01-17 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-366, Part I. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2011-11-15 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 4. Committee 2011-11-15 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2011-04-06 hsba16 Capital Markets Subcommittee 1 House committee actions Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 27 - 6 . Committee 2011-04-06 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-04-05 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-04-04 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-04-01 hsgo25 Information Technology Subcommittee 1 House committee actions Referred to the Subcommittee on Federal Workforce, U.S. Postal Service, and Labor Policy. Committee 2011-03-31 hsba16 Capital Markets Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Committee 2011-03-29 Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2011-03-29 Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-03-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-03-29 Introduced in House IntroReferral 1000 9 Library of Congress B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 N G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2011-03-29 True H001036 Rep. Hensarling, Jeb [R-TX-5] Jeb Hensarling R TX 5 2011-03-29 True P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2011-03-29 True B001232 Rep. Biggert, Judy [R-IL-13] JUDY BIGGERT R IL 13 2011-03-29 True M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2011-04-05 False C001082 Rep. Canseco, Francisco "Quico" [R-TX-23] Francisco Canseco R TX Quico 23 2011-06-03 False R000487 Rep. Royce, Edward R. [R-CA-40] ED ROYCE R CA 40 2011-11-04 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2011-11-10 False W000809 Rep. Womack, Steve [R-AR-3] Steve Womack R AR 3 2011-11-14 False R000571 Rep. Rehberg, Denny [R-MT-At Large] DENNY REHBERG R MT 0 2011-11-14 False I000056 Rep. Issa, Darrell E. [R-CA-49] DARRELL ISSA R CA E. 49 2011-11-15 False F000445 Rep. Forbes, J. Randy [R-VA-4] J. Forbes R VA Randy 4 2011-11-16 False V000108 Rep. Visclosky, Peter J. [D-IN-1] PETER VISCLOSKY D IN J. 1 2011-11-16 False L000554 Rep. LoBiondo, Frank A. [R-NJ-2] FRANK LOBIONDO R NJ A. 2 2011-11-16 False C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2011-11-17 False K000369 Rep. Kissell, Larry [D-NC-8] Larry Kissell D NC 8 2011-12-05 False N000186 Rep. Nunnelee, Alan [R-MS-1] Alan Nunnelee R MS 1 2011-12-06 False D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2011-12-13 False N000184 Rep. Noem, Kristi L. [R-SD-At Large] Kristi Noem R SD L. 0 2011-12-16 False Housing and Community Development Banking and financial institutions regulation Budget deficits and national debt Corporate finance and management Federal officials Government corporations and government-sponsored enterprises Government employee pay, benefits, personnel management Housing finance and home ownership Wages and earnings Housing and Community Development

00 2011-03-29 Introduced in House 2011-05-13T15:29:51Z Equity in Government Compensation Act of 2011 - Requires the Director of the Federal Housing Finance Agency to: (1) suspend immediately the compensation packages approved for 2011 for the executive officers of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs); 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 whose compensation package is suspended should return to the Secretary of the Treasury (clawback) any compensation earned in 2010 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.

Establishes requirements for determining compensation rates for GSE employees according to the General Schedule for federal civil service employees.

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18 2012-01-17 Reported to House amended, Part I 2012-03-08T21:33:51Z Equity in Government Compensation Act of 2011 - Requires the Director of the Federal Housing Finance Agency to: (1) suspend the compensation packages approved for 2011 for the executive officers of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs); and (2) establish, in lieu of such packages, a compensation system for such officers in accordance with the schedules of compensation and benefits established and adjusted pursuant to the compensation schedule comparability requirements of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

Expresses the sense of Congress that each executive officer of Fannie Mae and Freddie Mac performing services for an enterprise on the date of enactment of this Act whose compensation package is suspended should return to the Secretary of the Treasury (clawback) any compensation earned in 2010 and 2011 that was in excess of the maximum annual rate of basic pay authorized for a position in level I of the Executive Schedule.

Subjects Fannie Mae and Freddie Mac executive officers to the executive compensation requirements of the Emergency Economic Stabilization Act of 2008.

Prohibits the compensation of any executive officer of Fannie Mae or Freddie Mac whose compensation package is suspended under this Act from exceeding the compensation of the highest compensated employee of the Federal Housing Finance Agency.

Establishes requirements for determining compensation rates for GSE employees according to the General Schedule for federal civil service employees.

Declares that Fannie Mae and Freddie Mac employees shall not be considered federal employees.]]>

Equity in Government Compensation Act of 2011 Display Title Equity in Government Compensation Act of 2011 Official Title as Introduced 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. Introduced in House IH Short Titles as Introduced Equity in Government Compensation Act of 2011 Short Titles as Reported to House Equity in Government Compensation Act of 2011 H House Reported in House 2012-01-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1221rh/xml/BILLS-112hr1221rh.xml Introduced in House 2011-03-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1221ih/xml/BILLS-112hr1221ih.xml 2012-01-17 Placed on the Union Calendar, Calendar No. 247. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.