[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4483 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4483

  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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                    IN THE HOUSE OF REPRESENTATIVES

                            January 20, 2010

  Mr. Roskam introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
  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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Taxpayers from Excessive 
Compensation Act of 2010''.

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:
            ``(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.''.
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