Sec. 401. Funding authority of the Commission
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Section 12 of the Commodity Exchange Act (7 U.S.C. 16) is amended— in subsection (b)(1), by striking and as may be from time to time appropriated for by Congress ; by striking subsection (d); and in subsection (f)(3), by striking Any payment or reimbursement accepted shall be considered a reimbursement to the appropriated funds of the Commission. and inserting Such payments or reimbursements shall be available to the Commission without further appropriation. . Section 31 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78ee ) is amended— in subsection (a)— in the heading for such subsection, by striking and inserting Recovery of Costs of Annual Appropriation ; and In general by striking recover the costs to the Government of the annual appropriation to the Commission by Congress and inserting cover the costs to the Commission for the supervision and regulation of securities markets and securities professionals, and use such fees and assessments without further appropriation ; by striking subsection (i); in subsection (j)— by striking regular appropriation to the Commission by Congress each place such term appears and inserting target offsetting collection amount ; and by amending paragraph (4)(A) to read as follows:
An adjusted rate prescribed under paragraph
(1)shall take effect on the first day of the fiscal year to which such rate applies. ; and by striking subsection (k).
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