I 111th CONGRESS 2d Session H. R. 4483 IN THE HOUSE OF REPRESENTATIVES January 20, 2010 Mr. Roskam introduced the following bill; which was referred to the Committee on Financial Services 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.

1.

Short title

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

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. .