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![handle is hein.statute/statspl0011 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION
GP
129 STAT. 1310 PUBLIC LAW 114-93-NOV. 25, 2015
Public Law 114-93
114th Congress
An Act
Nov. 25, 2015 To suspend the current compensation packages for the chief executive officers of
[S. 2036] Fannie Mae and Freddie Mac, and for other purposes.
Be it enacted by the Senate and House of Representatives of
Equity in the United States of America in Congress assembled,
Government
Compensation SECTION 1. SHORT TITLE.
Act of 2015. This Act may be cited as the Equity in Government Compensa-
12 USC 4518
note. tion Act of 2015.
SEC. 2. DEFINITIONS.
In this Act:
(1) DIRECTOR.-The term Director means the Director
of the Federal Housing Finance Agency.
(2) ENTERPRISE.-The term enterprise means-
(A) the Federal National Mortgage Association and
any affiliate thereof; and
(B) the Federal Home Loan Mortgage Corporation and
any affiliate thereof.
SEC. 3. REASONABLE PAY FOR CHIEF EXECUTIVE OFFICERS.
(a) SUSPENSION OF CURRENT COMPENSATION PACKAGE AND
LIMITATION.-The Director shall suspend the compensation pack-
ages approved for 2015 for the chief executive officers of each
enterprise and, in lieu of such packages, subject to the limitation
under subsection (b), establish the compensation and benefits for
each such chief executive officer at the same level in effect for
such officer as of January 1, 2015, and such compensation and
benefits may not thereafter be increased.
(b) LIMITATION ON BONUSES.-Subsection (a) shall not be con-
strued to affect the applicability of section 16 of the STOCK Act
(12 U.S.C. 4518a) to the chief executive officer of each enterprise.
(c) APPLICABILITY.-Subsection (a) shall only apply to a chief
executive officer of an enterprise if the enterprise is in conservator-
ship or receivership pursuant to section 1367 of the Federal Housing
Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C.
4617).](ViewImageLocal?handle=hein.statute/statspl0011&div=1&collection=&method=preview&ext=.png&size=3)