Sec. 7. Funding
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Section 109 of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7219 ) is amended— by amending subsection
(b)to read as follows: The standard setting body referred to in subsection
(a)shall establish a budget for each fiscal year, which shall be reviewed and approved according to their respective internal procedures not less than 1 month prior to the commencement of the fiscal year to which the budget pertains. The Commission shall establish the budget for the Office for each fiscal year. ; in subsection (c)— by amending paragraph
(1)to read as follows: The budget of the standard setting body referred to in subsection
(a)for each fiscal year shall be payable from annual accounting support fees, in accordance with subsections
(d)and (e). Accounting support fees and other receipts of such standard-setting body shall not be considered public monies of the United States. The budget of the Office (reduced by any registration or annual fees received under section 102(f) for the year preceding the year for which the budget is being computed) for each fiscal year may be payable from annual accounting support fees, in accordance with subsections
(d)and (e). Accounting support fees and other receipts of the Office. ; in paragraph (2), by striking shall and inserting may ; in subsection (d)— in the heading, by striking and inserting the Board ; the Office in paragraph (1), by striking The Board shall establish, with the approval of the Commission, and inserting The Commission may establish ; in paragraph (2), by striking shall and inserting may ; and by striking paragraph (3); in subsection (j)— by striking either the Board, ; and by striking , or both, ; and by striking subsection (k).
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U.S. Code