Current status is Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on the Budget, 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.

119th CONGRESS

1st Session

H. R. 5438

1. Short title
2. Special rules for Federal agency budgets and bonuses

1. Short title

This Act may be cited as the "Incentivize Savings Act".

2. Special rules for Federal agency budgets and bonuses

(a) In general - Subchapter I of chapter 13 of title 31, United States Code, is amended by inserting at the end the following:

1311. Special rules for unexpended Federal agency appropriations

(a) In general - If a Federal agency does not expend funds appropriated or otherwise made available to the agency for a definite period during the period of availability of such funds—

(1) - 49 percent of such total funds shall remain available for an additional fiscal year;

(2) - 49 percent of such total funds shall be used for payments of principal and interest on the public debt; and

(3) - 2 percent of such total funds shall be used, not later than the date that is 30 days after the last day of the applicable period of availability, for retention bonuses within such Federal agency under section 5754 of title 5.

(b) Application - In carrying out subsection (a)(3)—

(1) - notwithstanding such section 5754, any retention bonus paid under such subsection may not exceed an amount equal to 10 percent of the applicable employee’s basic pay; and

(2) - any amounts remaining of such total funds after paying all bonuses under such subsection shall be used for payments of principal and interest on the public debt.

(c) Budget request - If subsection (a) is applied to the funds of a Federal agency, with respect to the fiscal year following the fiscal year in which the availability of such funds expired, the budget submission of the agency to the Office of Management and Budget, and the budget request for the agency in the President’s annual budget submission to Congress under section 1105(a) of this title, may not be greater than the total amount of the budget request for the agency for the fiscal year in which the availability of such funds expired, adjusted by the percentage change in the Consumer Price Index (all items—United States city average) between such fiscal years.

(d) Definition of Federal agency - As used in this section, the term Federal agency means an Executive agency (as that term is defined in section 105 of title 5) or any other agency of the executive branch of the Federal Government, including the United States Postal Service and the Postal Regulatory Commission, but does not include the American National Red Cross.

(b) Clerical amendment - The table of contents for such subchapter is amended by inserting after the item relating to section 1310 the following: