Sec. 361. Bringing the Federal Deposit Insurance Corporation into the regular appropriations process
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/bill/115/hr/10/ih/section-361·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 10(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(a) ) is amended— by striking
(a)The and inserting the following: The ; by inserting , subject to paragraph
(2)and subsection (l), after The Board of Directors of the Corporation ; and by adding at the end the following new paragraph: The Corporation shall collect assessments and other fees, as provided under this Act, that are designed to recover the costs to the Government of the annual appropriation to the Corporation by Congress. Assessments and other fees described under subparagraph
(A)for any fiscal year— shall be deposited and credited as offsetting collections to the account providing appropriations to the Corporation; and except as provided in subparagraph (C), shall not be collected for any fiscal year except to the extent provided in advance in appropriation Acts. If on the first day of a fiscal year a regular appropriation to the Corporation has not been enacted, the Corporation shall continue to collect (as offsetting collections) the assessments and other fees described under subparagraph
(A)at the rate in effect during the preceding fiscal year, until 60 days after the date such a regular appropriation is enacted. This paragraph shall not apply to the Deposit Insurance Fund, including assessments and other fees that are deposited into, and amounts paid from, the Deposit Insurance Fund. . Subsection
(d)of section 7 of the Federal Deposit Insurance Act ( 12 U.S.C. 1817 ) is amended to read as follows: Notwithstanding any other provision of law, amounts received pursuant to any assessments or other fees that are deposited into the Deposit Insurance Fund shall not be subject to apportionment for the purposes of chapter 15 of title 31, United States Code, or under any other authority. . The amendments made by this section shall apply with respect to expenses paid and fees collected on or after the date that is 90 days after the date of the enactment of the first appropriation Act that provides for appropriations to the Federal Deposit Insurance Corporation and that is enacted after the date of the enactment of this Act.
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Sec. 361
Bringing the Federal Deposit Insurance Corporation into the regular appropriations process
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