MODIFICATION TO SPECIAL PAY AUTHORITY FOR SCIENCE, TECHNOLOGY, ENGINEERING, OR MATHEMATICS POSITIONS.

SEC. 7311. MODIFICATION TO SPECIAL PAY AUTHORITY FOR SCIENCE, TECHNOLOGY, ENGINEERING, OR MATHEMATICS POSITIONS. (a) Modification.—Section 113B of the National Security Act of 1947 (50 U.S.C. 3049a) is amended— (1) in the section heading, by inserting “and positions requiring banking or financial services expertise” after “mathematics positions”; (2) in subsection (a)— (A) in the heading, by inserting “or in Banking or Financial Services” after “Mathematics”; (B) in paragraph (1), in the matter preceding subparagraph (A), by inserting “or in banking or financial services (including expertise relating to critical financial infrastructure operations, capital markets, banking compliance programs, or international investments)” after “or mathematics”; (C) by redesignating paragraph (2) as paragraph (3); and (D) by inserting after paragraph (1) the following new paragraph: “(2) Limitation on number of recipients.—For each element of the intelligence community, the number of individuals serving in a position in such element who receive a higher rate of pay established or increased under paragraph (1) may not, at any time during a given fiscal year, exceed 50 individuals or 5 percent of the total number of full-time equivalent positions authorized for such element for the preceding fiscal year, whichever is greater.” ; and (3) in subsection (e), by striking “the element” and inserting “an element”. (b) Clerical Amendment.—The table of contents at the beginning of such Act is amended by striking the item relating to section 113B and inserting the following new item: “Sec. 113B. Special pay authority for science, technology, engineering, or mathematics positions and positions requiring banking or financial services expertise.” . (c) Reports.—Not later than September 1 of each year until September 1, 2025, the head of each element of the intelligence community shall submit to the congressional intelligence committees, the Committee on Appropriations of the Senate, and the Committee on Appropriations of the House of Representatives a report on any rates of pay established for such element under section 113B of such Act (50 U.S.C. 3049a), as amended by subsection (a), including— (1) a description of any rates of pay so established; and (2) an identification of the number of positions in such element that will be subject to such rates of pay during the subsequent fiscal year.