The NIH has issued guidance related to the new Executive Level II salary limitation. (Please note that the active date is December 23, 2011 and after, not December 24, 2011 and after). Per the NIH guidance, pay special attention to FAQ items 4, 5, and 6 as they refer to re-budgeting guidance for competing and non-competing awards.
The NIH guidance is available at:
http://grants.nih.gov/grants/guide/notice-files/NOT-OD-12-035.html
Also available is NIH Fiscal Policy guidance for FY2012, based on the final FY2012 appropriation to NIH, and a summary of the FY2012 NIH Legislative Mandates effective for this fiscal year:
http://grants.nih.gov/grants/guide/notice-files/NOT-OD-12-036.html
http://grants.nih.gov/grants/guide/notice-files/NOT-OD-12-034.html
