Vote to pass a bill to modify policies concerning the General Accounting Office.
Modifies federal law to make permanent the agency's authority to offer early retirement and voluntary separation incentive payments (Sec. 2).
Empowers the Comptroller General with the authority to adjust annually the basic rates of GAO and Senior Executive Service officers and employees and the authority to create an executive exchange program between the GAO and private sector organizations (Sec. 3).
Requires the Comptroller General to prescribe regulations regarding pay retention, reimbursements for certain relocation programs, and accruement of annual leave for GOA officers and employees (Secs. 4-6).
Renames the General Accounting Office as the 'Government Accountability Office' (Sec. 8).
Requires the Comptroller General to include in GAO's annual report to Congress, during the five-year period beginning on the enactment of this act, a summary of all the modifications (Sec. 11).