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 and performance awards for the Senior Executive Service.

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