A bill to amend title 5, United States Code, to eliminate the existing Federal employee bonus and incentive award programs and establish a program for incentive awards for Federal employees only for suggestions, inventions, or other personal efforts which cause a demonstrable monetary savings to the Government.

Repeals specified provisions of Federal law concerning incentive awards for Federal employees, performance awards for the Senior Executive Service, and performance awards and the cash award program under the performance management and recognition system.

Authorizes the President to pay a cash award of not to exceed $1,500 to an employee or former employee if such employee's suggestion, invention, or personal effort causes a demonstrable monetary savings to the Government.

Authorizes appropriations.