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H.R. 5438

Incentivize Savings Act

Incentivize Savings Act

This bill establishes requirements for allocating unexpended appropriations for federal agencies.

If appropriations are provided to a federal agency for a definite period and the agency does not spend the funds during the period of availability, the bill requires

  • 49% of the funds to remain available for an additional fiscal year,
  • 49% of the funds to be used for payments of principal and interest on the public debt, and
  • 2% of the funds to be used for retention bonuses within the agency that do not exceed 10% of an employee's basic pay.

If an agency's unexpended appropriations are allocated under this bill, the agency's budget request for the fiscal year following the fiscal year in which the funds expired may not exceed the prior year's budget request with an adjustment for inflation.

Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 19.

Rep. McCormick, Richard [R-GA-7](R-GA)Sponsor
69 cosponsors4 D65 R
69cosponsors2committees6actions4subjects
  1. Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 19.

    Oversight and Government Reform Committee
  2. Committee

    Committee Consideration and Mark-up Session Held

    Oversight and Government Reform Committee
  3. IntroReferralH11100

    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.

    Budget Committee
  4. IntroReferralH11100

    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.

    Oversight and Government Reform Committee
  5. IntroReferralIntro-H

    Introduced in House

  6. IntroReferral1000

    Introduced in House