US Codex
Bill
Notes

To amend the Commodity Exchange Act to adjust the period during which amounts transferred by the Commodity Futures Trading Commission to the account for customer education initiatives and non-awards expenses shall remain available, and for other purposes.

H.R. 4935 · 118th Congress · Jul 26, 2023 · Lineage

A BILL

Section 1 Commodity Futures Trading Commission customer protection fund modifications

(a)
Separate account for education initiatives and expenses— Section 23(g) of the Commodity Exchange Act (7 U.S.C. 26(g)) is amended—
(1)
in paragraph (2)(A), by striking “subsection (a)” and inserting “subsection (b)”; and
(2)
in paragraph (3)—
(A)
in subparagraph (A), by striking “$100,000,000” and inserting “$300,000,000”;
(B)
in subparagraph (B), by striking “subparagraph (A)” and inserting “clause (i)”;
(C)
by redesignating subparagraphs (A) through (C) as clauses (i) through (iii), respectively, and indenting the clauses appropriately;
(D)
in the matter preceding clause (i) (as so redesignated), by striking “There shall be deposited into or credited to the Fund:” and inserting the following:

“(A) In general—There shall be deposited in, or credited to, the Fund the following:”

(E)
by adding at the end the following:

“(B) Separate account for education initiatives and administrative expenses

“(i) In general—Any amounts contained in, deposited in, or credited to the Fund under subparagraph (A) may be transferred to a separate account in the Fund described in clause (ii), unless the balance of that separate account at the time the amounts are transferred exceeds $10,000,000.

“(ii) Use of separate account—The separate account referred to in clause (i) shall be available to the Commission, without further appropriation or fiscal year limitation, for—

“(I) the purpose described in subparagraph (B) of paragraph (2); and

“(II) the funding of administrative and salary expenses necessary for personnel to carry out the activities described in subparagraphs (A) and (B) of that paragraph.”

(b)
Commodity Futures Trading Commission whistleblower program— Section 1(b) of Public Law 117–25 (135 Stat. 297; 136 Stat. 2133; 136 Stat. 2309) (as amended by section 301 of division HH of Public Law 117–328) is amended—
(1)
in paragraph (3), by striking “until” and all that follows through the period at the end and inserting “until expended.”; and
(2)
by striking paragraph (4).
(c)
Technical corrections— Section 23 of the Commodity Exchange Act (7 U.S.C. 26) is amended—
(1)
in subsection (a)(5), by striking “subsection (a)” and inserting “subsection (b)”;
(2)
in subsection (c)(1)(B)(i)(III), by striking “the Act” each place it appears and inserting “this Act”; and
(3)
in subsection (f)(3), by striking “section 7064” and inserting “section 706”.