; and (B) the term premium pay means overtime pay, Sunday premium pay, and holiday premium pay. (2) Limitation For a prevailing rate employee described in section 5342(a)(2)(A) who is a covered employee, premium pay may not be paid to the extent that payment would cause the aggregate of the basic pay and premium pay of the covered employee in the applicable calendar year to exceed the rate of basic pay payable for a position at level II of the Executive Schedule under section 5313, as in effect at the end of that calendar year. . (b) Clerical amendment The table of sections for chapter 55 of title 5, United States Code, is amended by inserting after the item for section 5547 the following: 5547a. Special limitations on premium pay for employees engaged in wildland firefighting. . (c) Disregarding of premium pay for certain purposes For the purpose of applying section 5547 of title 5, United States Code, as carried out pursuant to the requirements of section 1701 of division B of the Extending Government Funding and Delivering Emergency Assistance Act ( 5 U.S.C. 5547 note) (as amended by section 601 of title VI of division HH of the Consolidated Appropriations Act, 2022 and section 440 of title IV of division G of the Consolidated Appropriations Act, 2023), in calendar year 2023, incident standby premium pay shall be included in premium pay that is subject to the limits established pursuant to those requirements, as so amended. (d) Effective dates (1) In general The amendments made by subsections (a) and (b) shall take effect on the first day of the first pay period that has a payment date in January 2024. (2) Disregarding of premium pay Subsection (c) shall take effect on the first day of the first applicable pay period beginning on or after October 1, 2023. (e) Reports on hiring wildland firefighters and incident meterologists (1) Definitions In this subsection: (A) Relevant congressional committees defined The term relevant congressional committees means— (i) the Committee on Homeland Security and Governmental