A bill to amend title 37, United States Code, to provide an incentive plan for participation in the Ready Reserve.

Provides special pay for participation in the Ready Reserve by enlisted members of a reserve component of an armed forces who: (1) have completed at least two years of active duty or have completed, as determined by the Secretary concerned, the required period of service in the Ready Reserve; and (2) have enlisted, reenlisted extended their enlistments or executed an incentive pay agreement.

Entitles such individuals to special pay at the rate of (1) $100 for enlistment, reenlistment, extention of enlistment or execution of an incentive pay agreement and (2) $100 per year under such above conditions. Provides that the total amount paid to a member may not exceed $2,000. (Adds 37 U.S.C. 312)