S.Amdt. 935
What it does: Adds Sec. ___. None of the funds appropriated or otherwise made available under this Act may be used on or after the date of enactment of this Act for performance-based compensation for senior executives at the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (referred to collectively in this section as the "agencies") during any period of conservatorship for the agencies, unless such compensation is based solely on-- wherever appropriate
Sen. Bob Corker (R-TN)What it changes
1 change to H.R. 2354
Adds Sec. ___. None of the funds appropriated or otherwise made available under this Act may be used on or after the date of enactment of this Act for performance-based compensation for senior executives at the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (referred to collectively in this section as the "agencies") during any period of conservatorship for the agencies, unless such compensation is based solely on-- wherever appropriate
Adds a sectionInserted: Sec. ___. None of the funds appropriated or otherwise made available under this Act may be used on or after the date of enactment of this Act for performance-based compensation for senior executives at the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (referred to collectively in this section as the "agencies") during any period of conservatorship for the agencies, unless such compensation is based solely on--
Inserted: (1) the achievement of a reduction in the exposure of the taxpayer to mortgage credit loss; and
Inserted: (2) the reduction of mortgage credit exposure of the agencies.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 935. Mr. CORKER submitted an amendment intended to be proposed by him to the bill H.R. 2354, making appropriations for energy and water development and related agencies for the fiscal year ending September 30, 2012, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
Sec. ___. None of the funds appropriated or otherwise made available under this Act may be used on or after the date of enactment of this Act for performance-based compensation for senior executives at the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (referred to collectively in this section as the “agencies”) during any period of conservatorship for the agencies, unless such compensation is based solely on--
(1) the achievement of a reduction in the exposure of the taxpayer to mortgage credit loss; and
(2) the reduction of mortgage credit exposure of the agencies.
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Senate amendment submitted
November 10, 2011