To clarify that funding for the standard setting body designated pursuant to section 19(b) of the Securities Act of 1933, the Securities Investor Protection Corporation, and the Public Company Accounting Oversight Board is not subject to the sequester.

Makes any sequestration ordered by the President under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) inapplicable to funding of:

• the standard setting body designated by the Security Exchange Commission (SEC) (which establishes accounting principles "generally accepted" for securities laws),
• the Securities Investor Protection Corporation, or
• the Public Company Accounting Oversight Board.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4270 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4270

   To clarify that funding for the standard setting body designated 
pursuant to section 19(b) of the Securities Act of 1933, the Securities 
  Investor Protection Corporation, and the Public Company Accounting 
            Oversight Board is not subject to the sequester.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 14, 2014

  Mr. Renacci (for himself, Mr. Himes, Mr. Conaway, Mr. Peterson, Mr. 
    Murphy of Florida, Mr. Flores, and Mr. Sherman) introduced the 
   following bill; which was referred to the Committee on the Budget

_______________________________________________________________________

                                 A BILL


 
   To clarify that funding for the standard setting body designated 
pursuant to section 19(b) of the Securities Act of 1933, the Securities 
  Investor Protection Corporation, and the Public Company Accounting 
            Oversight Board is not subject to the sequester.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CLARIFICATION.

    Section 251A of the Balanced Budget and Emergency Deficit Control 
Act of 1985 (2 U.S.C. 901a) does not apply with respect to the funding 
of--
            (1) the standard setting body designated pursuant to 
        section 19(b) of the Securities Act of 1933 (15 U.S.C. 77s(b));
            (2) the Securities Investor Protection Corporation; or
            (3) the Public Company Accounting Oversight Board.
                                 <all>