Division AA — Financial Services Matters

117th Congress · Approved Dec 29, 2022 · 136 Stat. 4459

DIVISION AA Financial Services Matters

TITLE I Registration for Index-Linked Annuities

SEC. 101. Parity for Registered Index-Linked Annuities Regarding Registration Rules.

(a)

Definitions.— In this section:

(1)

Commission.— The term “Commission” means the Securities and Exchange Commission.

(2)

Investment company.— The term “investment company” has the meaning given the term in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a–3).

(3)

Market value adjustment.— The term “market value adjustment” means, with respect to a registered index-linked annuity, after an early withdrawal or contract discontinuance—

(A)

an adjustment to the value of that annuity based on calculations using a predetermined formula; or

(B)

a change in interest rates (or other factor, as determined by the Commission) that apply to that annuity.

(4)

Purchaser.— The term “purchaser” means a purchaser of a registered index-linked annuity.

(5)

Registered index-linked annuity.— The term “registered index-linked annuity” means an annuity—

(A)

that is deemed to be a security;

(B)

that is registered with the Commission in accordance with section 5 of the Securities Act of 1933 (15 U.S.C. 77e);

(C)

that is issued by an insurance company that is subject to the supervision of—

(i)

the insurance commissioner or bank commissioner of any State; or

(ii)

any agency or officer performing like functions as a commissioner described in clause (i);

(D)

that is not issued by an investment company; and

(E)

the returns of which—

(i)

are based on the performance of a specified benchmark index or rate (or a registered exchange traded fund that seeks to track the performance of a specified benchmark index or rate); and

(ii)

may be subject to a market value adjustment if amounts are withdrawn before the end of the period during which that market value adjustment applies.

(6)

Security.— The term “security” has the meaning given the term in section 2(a) of the Securities Act of 1933 (15 U.S.C. 77b(a)).

(b)

Rules.—

(1)

In general.— Not later than 180 days after the date of enactment of this Act, the Commission shall propose, and, not later than 18 months after the date of enactment of this Act, the Commission shall prepare and finalize, new or amended rules, as appropriate, to establish a new form in accordance with paragraph (2) on which an issuer of a registered index-linked annuity may register that registered index-linked annuity, subject to conditions the Commission determines appropriate, which may include requiring the issuer to take the steps described in section 240.12h–7(e) of title 17, Code of Federal Regulations, or any successor regulation, with respect to the registered index-linked annuity.

(2)

Design of form.— In developing the form required to be established under paragraph (1), the Commission shall—

(A)

design the form to ensure that a purchaser using the form receives the information necessary to make knowledgeable decisions, taking into account—

(i)

the availability of information;

(ii)

the knowledge and sophistication of that class of purchasers;

(iii)

the complexity of the registered index-linked annuity; and

(iv)

any other factor the Commission determines appropriate;

(B)

engage in investor testing; and

(C)

incorporate the results of the testing required under subparagraph (B) in the design of the form, with the goal of ensuring that key information is conveyed in terms that a purchaser is able to understand.

(c)

Treatment if Rules Not Prepared and Finalized in a Timely Manner.—

(1)

In general.— If, as of the date that is 18 months after the date of enactment of this Act, the Commission has failed to prepare and finalize the rules required under subsection (b)(1), any registered index-linked annuity may be registered on the form described in section 239.17b of title 17, Code of Federal Regulations, or any successor regulation.

(2)

Preparation.— A registration described in paragraph (1) shall be prepared pursuant to applicable provisions of the form described in that paragraph.

(3)

Termination.— This subsection shall terminate upon the establishment by the Commission of the form described in subsection (b).

(d)

Rules of Construction.— Nothing in this section may be construed to—

(1)

limit the authority of the Commission to—

(A)

determine the information to be requested in the form described in subsection (b); or

(B)

extend the eligibility for the form described in subsection (b) to a product that is similar to, but is not, a registered index-linked annuity; or

(2)

preempt any State law, regulation, rule, or order.

TITLE II Masih Alinejad Hunt Act of 2022

SEC. 201. Short Title.

This title may be cited as the “Masih Alinejad Harassment and Unlawful Targeting Act of 2022” or the “Masih Alinejad HUNT Act of 2022”.

SEC. 202. Findings.

Congress finds that the Government of the Islamic Republic of Iran surveils, harasses, terrorizes, tortures, abducts, and murders individuals who peacefully defend human rights and freedoms in Iran, and innocent entities and individuals considered by the Government of Iran to be enemies of that regime, including United States citizens on United States soil, and takes foreign nationals hostage, including in the following instances:

(1)

In 2021, Iranian intelligence agents were indicted for plotting to kidnap United States citizen, women’s rights activist, and journalist Masih Alinejad, from her home in New York City, in retaliation for exercising her rights under the First Amendment to the Constitution of the United States. Iranian agents allegedly spent at least approximately half a million dollars to capture the outspoken critic of the authoritarianism of the Government of Iran, and studied evacuating her by military-style speedboats to Venezuela before rendition to Iran.

(2)

Prior to the New York kidnapping plot, Ms. Alinejad’s family in Iran was instructed by authorities to lure Ms. Alinejad to Turkey. In an attempt to intimidate her into silence, the Government of Iran arrested 3 of Ms. Alinejad’s family members in 2019, and sentenced her brother to 8 years in prison for refusing to denounce her.

(3)

According to Federal prosecutors, the same Iranian intelligence network that allegedly plotted to kidnap Ms. Alinejad is also targeting critics of the Government of Iran who live in Canada, the United Kingdom, and the United Arab Emirates.

(4)

In 2021, an Iranian diplomat was convicted in Belgium of attempting to carry out a 2018 bombing of a dissident rally in France.

(5)

In 2021, a Danish high court found a Norwegian citizen of Iranian descent guilty of illegal espionage and complicity in a failed plot to kill an Iranian Arab dissident figure in Denmark.

(6)

In 2021, the British Broadcasting Corporation (BBC) appealed to the United Nations to protect BBC Persian employees in London who suffer regular harassment and threats of kidnapping by Iranian government agents.

(7)

In 2021, 15 militants allegedly working on behalf of the Government of Iran were arrested in Ethiopia for plotting to attack citizens of Israel, the United States, and the United Arab Emirates, according to United States officials.

(8)

In 2020, Iranian agents allegedly kidnapped United States resident and Iranian-German journalist Jamshid Sharmahd, while he was traveling to India through Dubai. Iranian authorities announced they had seized Mr. Sharmahd in “a complex operation”, and paraded him blindfolded on state television. Mr. Sharmahd is arbitrarily detained in Iran, allegedly facing the death penalty. In 2009, Mr. Sharmahd was the target of an alleged Iran-directed assassination plot in Glendora, California.

(9)

In 2020, the Government of Turkey released counterterrorism files exposing how Iranian authorities allegedly collaborated with drug gangs to kidnap Habib Chabi, an Iranian-Swedish activist for Iran’s Arab minority. In 2020, the Government of Iran allegedly lured Mr. Chabi to Istanbul through a female agent posing as a potential lover. Mr. Chabi was then allegedly kidnapped from Istanbul, and smuggled into Iran where he faces execution, following a sham trial.

(10)

In 2020, a United States-Iranian citizen and an Iranian resident of California pleaded guilty to charges of acting as illegal agents of the Government of Iran by surveilling Jewish student facilities, including the Hillel Center and Rohr Chabad Center at the University of Chicago, in addition to surveilling and collecting identifying information about United States citizens and nationals who are critical of the Iranian regime.

(11)

In 2019, 2 Iranian intelligence officers at the Iranian consulate in Turkey allegedly orchestrated the assassination of Iranian dissident journalist Masoud Molavi Vardanjani, who was shot while walking with a friend in Istanbul. Unbeknownst to Mr. Molavi, his “friend” was in fact an undercover Iranian agent and the leader of the killing squad, according to a Turkish police report.

(12)

In 2019, around 1,500 people were allegedly killed amid a less than 2 week crackdown by security forces on anti-government protests across Iran, including at least an alleged 23 children and 400 women.

(13)

In 2019, Iranian operatives allegedly lured Paris-based Iranian journalist Ruhollah Zam to Iraq, where he was abducted, and hanged in Iran for sedition.

(14)

In 2019, a Kurdistan regional court convicted an Iranian female for trying to lure Voice of America reporter Ali Javanmardi to a hotel room in Irbil, as part of a foiled Iranian intelligence plot to kidnap and extradite Mr. Javanmardi, a critic of the Government of Iran.

(15)

In 2019, Federal Bureau of Investigation agents visited the rural Connecticut home of Iran-born United States author and poet Roya Hakakian to warn her that she was the target of an assassination plot orchestrated by the Government of Iran.

(16)

In 2019, the Government of the Netherlands accused the Government of Iran of directing the assassination of Iranian Arab activist Ahmad Mola Nissi, in The Hague, and the assassination of another opposition figure, Reza Kolahi Samadi, who was murdered near Amsterdam in 2015.

(17)

In 2018, German security forces searched for 10 alleged spies who were working for Iran’s al-Quds Force to collect information on targets related to the local Jewish community, including kindergartens.

(18)

In 2017, Germany convicted a Pakistani man for working as an Iranian agent to spy on targets including a former German lawmaker and a French-Israeli economics professor.

(19)

In 2012, an Iranian American pleaded guilty to conspiring with members of the Iranian military to bomb a popular Washington, DC, restaurant with the aim of assassinating the ambassador of Saudi Arabia to the United States.

(20)

In 1996, agents of the Government of Iran allegedly assassinated 5 Iranian dissident exiles across Turkey, Pakistan, and Baghdad, over a 5-month period that year.

(21)

In 1992, the Foreign and Commonwealth Office of the United Kingdom expelled 2 Iranians employed at the Iranian Embassy in London and a third Iranian on a student visa amid allegations they were plotting to kill Indian-born British American novelist Salman Rushdie, pursuant to the fatwa issued by then supreme leader of Iran, Ayatollah Ruhollah Khomeini.

(22)

In 1992, 4 Iranian Kurdish dissidents were assassinated at a restaurant in Berlin, Germany, allegedly by Iranian agents.

(23)

In 1992, singer, actor, poet, and gay Iranian dissident Fereydoun Farrokhzad was found dead with multiple stab wounds in his apartment in Germany. His death is allegedly the work of Iran-directed agents.

(24)

In 1980, Ali Akbar Tabatabaei, a leading critic of Iran and then president of the Iran Freedom Foundation, was murdered in front of his Bethesda, Maryland, home by an assassin disguised as a postal courier. The Federal Bureau of Investigation had identified the “mailman” as Dawud Salahuddin, born David Theodore Belfield. Mr. Salahuddin was working as a security guard at an Iranian interest office in Washington, DC, when he claims he accepted the assignment and payment of $5,000 from the Government of Iran to kill Mr. Tabatabaei.

(25)

Other exiled Iranian dissidents alleged to have been victims of the Government of Iran’s murderous extraterritorial campaign include Shahriar Shafiq, Shapour Bakhtiar, and Gholam Ali Oveissi.

(26)

Iranian Americans face an ongoing campaign of intimidation both in the virtual and physical world by agents and affiliates of the Government of Iran, which aims to stifle freedom of expression and eliminate the threat Iranian authorities believe democracy, justice, and gender equality pose to their rule.

SEC. 203. Definitions.

In this title:

(1)

Admission; admitted; alien.— The terms “admission”, “admitted”, and “alien” have the meanings given those terms in section 101 of the Immigration and Nationality Act (8 U.S.C. 1101).

(2)

Appropriate congressional committees.— The term “appropriate congressional committees” means—

(A)

the Committee on Banking, Housing, and Urban Affairs, the Committee on Foreign Relations, the Committee on the Judiciary, and the Select Committee on Intelligence of the Senate; and

(B)

the Committee on Financial Services, the Committee on Foreign Affairs, the Committee on the Judiciary, and the Permanent Select Committee on Intelligence of the House of Representatives.

(3)

Correspondent account; payable-through account.— The terms “correspondent account” and “payable-through account” have the meanings given those terms in section 5318A of title 31, United States Code.

(4)

Foreign financial institution.— The term “foreign financial institution” has the meaning of that term as determined by the Secretary of the Treasury pursuant to section 104(i) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8513(i)).

(5)

Foreign person.— The term “foreign person” means any individual or entity that is not a United States person.

(6)

United states person.— The term “United States person” means—

(A)

a United States citizen or an alien lawfully admitted for permanent residence to the United States; or

(B)

an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity.

SEC. 204. Report and Imposition of Sanctions with Respect to Persons Who Are Responsible for or Complicit in Abuses Toward Dissidents on Behalf of the Government of Iran.

(a)

Report Required.—

(1)

In general.— Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in consultation with the Secretary of the Treasury, the Director of National Intelligence, and the Attorney General, shall submit to the appropriate congressional committees a report that—

(A)

includes a detailed description and assessment of—

(i)

the state of human rights and the rule of law inside Iran, including the treatment of marginalized individuals and communities in Iran;

(ii)

actions taken by the Government of Iran during the year preceding submission of the report to target and silence dissidents both inside and outside of Iran who advocate for human rights inside Iran;

(iii)

the methods used by the Government of Iran to target and silence dissidents both inside and outside of Iran; and

(iv)

the means through which the Government of Iran finances efforts to target and silence dissidents both inside and outside of Iran and the amount of that financing;

(B)

identifies foreign persons working as part of the Government of Iran or acting on behalf of that Government or its proxies that are involved in harassment and surveillance and that the Secretary of State may also, as appropriate, determine, in consultation with the Secretary of the Treasury, are knowingly responsible for, complicit in, or involved in ordering, conspiring, planning, or implementing the surveillance, harassment, kidnapping, illegal extradition, imprisonment, torture, killing, or assassination, on or after the date of the enactment of this Act, of citizens of Iran (including citizens of Iran of dual nationality) or citizens of the United States, inside or outside Iran, who seek—

(i)

to expose illegal or corrupt activity carried out by officials of the Government of Iran; or

(ii)

to obtain, exercise, defend, or promote the human rights of individuals, including members of marginalized communities, in Iran; and

(C)

includes, for each foreign person identified under subparagraph (B), a clear explanation for why the foreign person was so identified.

(2)

Updates of report.— The report required by paragraph (1) shall be updated, and the updated version submitted to the appropriate congressional committees, during the 10-year period following the date of the enactment of this Act—

(A)

not less frequently than annually; and

(B)

with respect to matters relating to the identification of foreign persons under paragraph (1)(B), on an ongoing basis as appropriate.

(3)

Form of report.—

(A)

In general.— Each report required by paragraph (1) and each update required by paragraph (2) shall be submitted in unclassified form but may include a classified annex.

(B)

Public availability.— The Secretary of State shall post the unclassified portion of each report required by paragraph (1) and each update required by paragraph (2) on a publicly available internet website of the Department of State.

(b)

Imposition of Sanctions.— In the case of a foreign person identified under paragraph (1)(B) of subsection (a) in the most recent report or update submitted under that subsection, the President shall impose the sanctions described in subsection (c), pursuant to this section or an appropriate Executive authority.

(c)

Sanctions Described.— The sanctions described in this subsection are the following:

(1)

Blocking of property.— The President shall exercise all powers granted to the President by the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in all property and interests in property of a foreign person described in subsection (a)(1)(B) if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(2)

Inadmissibility of certain individuals .—

(A)

Ineligibility for visas and admission to the united states.— In the case of a foreign person described in subsection (a)(1)(B) who is an individual, the individual is—

(i)

inadmissible to the United States;

(ii)

ineligible to receive a visa or other documentation to enter the United States; and

(iii)

otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.).

(B)

Current visas revoked.—

(i)

In general.— The visa or other entry documentation of an individual described in subparagraph (A) shall be revoked, regardless of when such visa or other entry documentation is or was issued.

(ii)

Immediate effect.— A revocation under clause (i) shall—

(I)

take effect immediately; and

(II)

automatically cancel any other valid visa or entry documentation that is in the individual’s possession.

SEC. 205. Report and Imposition of Sanctions with Respect to Foreign Financial Institutions Conducting Significant Transactions with Persons Responsible for or Complicit in Abuses Toward Dissidents on Behalf of the Government of Iran.

(a)

Report Required.— Not earlier than 30 days and not later than 60 days after the Secretary of State submits to the appropriate congressional committees a report required by section 204(a), the Secretary of the Treasury, in consultation with the Secretary of State, shall submit to the appropriate congressional committees a report that identifies any foreign financial institution that knowingly conducts a significant transaction with a foreign person identified in the report submitted under section 204(a) on or after the date on which the foreign person is identified in that report.

(b)

Imposition of Sanctions.— The Secretary of the Treasury may prohibit the opening, or prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution identified under subsection (a).

SEC. 206. Exceptions; Waivers; Implementation.

(a)

Exceptions.—

(1)

Exception for intelligence, law enforcement, and national security activities.— Sanctions under sections 204 and 205 shall not apply to any authorized intelligence, law enforcement, or national security activities of the United States.

(2)

Exception to comply with united nations headquarters agreement.— Sanctions under section 204(c)(2) shall not apply with respect to the admission of an individual to the United States if the admission of the individual is necessary to permit the United States to comply with the Agreement regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, between the United Nations and the United States, the Convention on Consular Relations, done at Vienna April 24, 1963, and entered into force March 19, 1967, or other applicable international obligations.

(b)

National Interests Waiver.— The President may waive the application of sanctions under section 204 with respect to a person if the President—

(1)

determines that the waiver is in the national interests of the United States; and

(2)

submits to the appropriate congressional committees a report on the waiver and the reasons for the waiver.

(c)

Implementation; Penalties.—

(1)

Implementation.— The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this title.

(2)

Penalties.— A person that violates, attempts to violate, conspires to violate, or causes a violation of section 204(c)(1) or 205(b) or any regulation, license, or order issued to carry out either such section shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) to the same extent as a person that commits an unlawful act described in subsection (a) of that section.

SEC. 207. Exception Relating to Importation of Goods.

(a)

In General.— Notwithstanding any other provision of this title, the authorities and requirements to impose sanctions under this title shall not include the authority or a requirement to impose sanctions on the importation of goods.

(b)

Good Defined.— In this section, the term “good” means any article, natural or manmade substance, material, supply or manufactured product, including inspection and test equipment, and excluding technical data.

TITLE III Trading Prohibitions

SEC. 301. Trading Prohibition for 2 Consecutive Non-Inspection Years.

Section 104(i) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)) is amended—

(1)

in paragraph (2)(A)(ii), by striking “ the foreign jurisdiction described in clause (i)” and inserting “ a foreign jurisdiction”; and

(2)

in paragraph (3)—

(A)

in the paragraph heading, by striking “ 3” and inserting “ 2”; and

(B)

in subparagraph (A), in the matter preceding clause (i), by striking “ 3” and inserting “ 2”.

TITLE IV Anti-Money Laundering Whistleblower Improvement

SEC. 401. Whistleblower Incentives and Protections.

(a)

In General.— Section 5323 of title 31, United States Code, as amended by section 6314 of the Anti-Money Laundering Act of 2020 (division F of Public Law 116–283) is amended by striking subsection (b) and inserting the following:

“(b) Awards.—

“(1) In general.—In any covered judicial or administrative action, or related action, the Secretary, under regulations prescribed by the Secretary, in consultation with the Attorney General and subject to subsection (c), shall pay an award or awards to 1 or more whistleblowers who voluntarily provided original information to the employer of the individual, the Secretary, or the Attorney General, as applicable, that led to the successful enforcement of the covered judicial or administrative action, or related action, in an aggregate amount equal to—

“(A) not less than 10 percent, in total, of what has been collected of the monetary sanctions imposed in the action or related actions; and

“(B) not more than 30 percent, in total, of what has been collected of the monetary sanctions imposed in the action or related actions.

“(2) Payment of awards.—

“(A) In general.—Any amount paid under paragraph (1) shall be paid from the Fund established under paragraph (3).

“(B) Related actions.—The Secretary may pay awards less than the amount described in paragraph (1)(A) for related actions in which a whistleblower may be paid by another whistleblower award program.

“(3) Source of awards.—

“(A) In general.—There shall be established in the Treasury of the United States a revolving fund to be known as the Financial Integrity Fund (referred to in this subsection as the ‘Fund’).

“(B) Use of fund.—The Fund shall be available to the Secretary, without further appropriation or fiscal year limitations, only for the payment of awards to whistleblowers as provided in subsection (b).

“(C) Restrictions on use of fund.—The Fund shall not be available to pay any personnel or administrative expenses.

“(4) Deposits and credits.—

“(A) In general.—There shall be deposited into or credited to the Fund an amount equal to—

“(i) any monetary sanction collected by the Secretary or Attorney General in any judicial or administrative action under this title, chapter 35 or section 4305 or 4312 of title 50, or the Foreign Narcotics Kingpin Designation Act (21 U.S.C. 1901 et seq.), unless the balance of the Fund at the time the monetary sanction is collected exceeds $300,000,000; and

“(ii) all income from investments made under paragraph (5).

“(B) Additional amounts.—If the amounts deposited into or credited to the Fund under subparagraph (A) are not sufficient to satisfy an award made under this subsection, there shall be deposited into or credited to the Fund an amount equal to the unsatisfied portion of the award from any monetary sanction collected by the Secretary of the Treasury or Attorney General in the covered judicial or administrative action on which the award is based.

“(C) Exception.—No amounts to be deposited or transferred into the United States Victims of State Sponsored Terrorism Fund pursuant to the Justice for United States Victims of State Sponsored Terrorism Act (34 U.S.C. 20144) or the Crime Victims Fund pursuant section 1402 of the Victims of Crime Act of 1984 (34 U.S.C. 20101) shall be deposited into or credited to the Fund.

“(5) Investments.—

“(A) Amounts in fund may be invested.—The Secretary of the Treasury may invest the portion of the Fund that is not required to meet the current needs of the Fund.

“(B) Eligible investments.—Investments shall be made by the Secretary of the Treasury in obligations of the United States or obligations that are guaranteed as to principal and interest by the United States, with maturities suitable to the needs of the Fund as determined by the Secretary.

“(C) Interest and proceeds credited.—The interest on, and the proceeds from the sale or redemption of, any obligations held in the Fund shall be credited to, and form a part of, the Fund.”

(b)

Technical and Conforming Amendments.— Section 5323 of title 31, United States Code, is amended—

(1)

in subsection (a)—

(A)

in paragraphs (1) and (5), by striking “ this subchapter or subchapter III” each place the term appears and inserting “ this subchapter, chapter 35 or section 4305 or 4312 of title 50, the Foreign Narcotics Kingpin Designation Act (21 U.S.C. 1901 et seq.), or .), and for conspiracies to violate the aforementioned provisions”; and

(B)

in paragraph (4)—

(i)

by inserting “ covered” after “ respect to any”;

(ii)

by striking “ under this subchapter or subchapter III”; and

(iii)

by striking “ action by the Secretary or the Attorney General” and inserting “ covered action”;

(2)

in subsection (c)(1)(B)(iii)—

(A)

by striking “ subchapter and subchapter III” and inserting “ this subchapter, chapter 35 or section 4305 or 4312 of title 50, and the Foreign Narcotics Kingpin Designation Act (21 U.S.C. 1901 et seq.)”; and

(B)

by striking “ either such subchapter” and inserting “ the covered judicial or administrative action”; and

(3)

in subsection (g)(4)(D)(i), by inserting “ chapter 35 or section 4305 or 4312 of title 50, or the Foreign Narcotics Kingpin Designation Act (21 U.S.C. 1901 et seq.),” after “ subchapter,”.

TITLE V Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification

SEC. 501. Registration Exemption for Merger and Acquisition Brokers.

(a)

In General.— Section 15(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(b)) is amended by adding at the end the following:

“(13) Registration exemption for merger and acquisition brokers.—

“(A) In general.—Except as provided in subparagraph (B), an M&A broker shall be exempt from registration under this section.

“(B) Excluded activities.—An M&A broker is not exempt from registration under this paragraph if such broker does any of the following:

“(i) Directly or indirectly, in connection with the transfer of ownership of an eligible privately held company, receives, holds, transmits, or has custody of the funds or securities to be exchanged by the parties to the transaction.

“(ii) Engages on behalf of an issuer in a public offering of any class of securities that is registered, or is required to be registered, with the Commission under section 12 or with respect to which the issuer files, or is required to file, periodic information, documents, and reports under subsection (d).

“(iii) Engages on behalf of any party in a transaction involving a shell company, other than a business combination related shell company.

“(iv) Directly, or indirectly through any of its affiliates, provides financing related to the transfer of ownership of an eligible privately held company.

“(v) Assists any party to obtain financing from an unaffiliated third party without—

“(I) complying with all other applicable laws in connection with such assistance, including, if applicable, Regulation T (12 C.F.R. 220 et seq.); and

“(II) disclosing any compensation in writing to the party.

“(vi) Represents both the buyer and the seller in the same transaction without providing clear written disclosure as to the parties the broker represents and obtaining written consent from both parties to the joint representation.

“(vii) Facilitates a transaction with a group of buyers formed with the assistance of the M&A broker to acquire the eligible privately held company.

“(viii) Engages in a transaction involving the transfer of ownership of an eligible privately held company to a passive buyer or group of passive buyers.

“(ix) Binds a party to a transfer of ownership of an eligible privately held company.

“(C) Disqualification.—An M&A broker is not exempt from registration under this paragraph if such broker (and if and as applicable, including any officer, director, member, manager, partner, or employee of such broker)—

“(i) has been barred from association with a broker or dealer by the Commission, any State, or any self-regulatory organization; or

“(ii) is suspended from association with a broker or dealer.

“(D) Rule of construction.—Nothing in this paragraph shall be construed to limit any other authority of the Commission to exempt any person, or any class of persons, from any provision of this title, or from any provision of any rule or regulation thereunder.

“(E) Definitions.—In this paragraph:

“(i) Business combination related shell company.—The term ‘business combination related shell company’ means a shell company that is formed by an entity that is not a shell company—

“(I) solely for the purpose of changing the corporate domicile of that entity solely within the United States; or

“(II) solely for the purpose of completing a business combination transaction (as defined under section 230.165(f) of title 17, Code of Federal Regulations) among one or more entities other than the company itself, none of which is a shell company.

“(ii) Control.—The term ‘control’ means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. There is a presumption of control if, upon completion of a transaction, the buyer or group of buyers—

“(I) has the right to vote 25 percent or more of a class of voting securities or the power to sell or direct the sale of 25 percent or more of a class of voting securities; or

“(II) in the case of a partnership or limited liability company, has the right to receive upon dissolution, or has contributed, 25 percent or more of the capital.

“(iii) Eligible privately held company.—The term ‘eligible privately held company’ means a privately held company that meets both of the following conditions:

“(I) The company does not have any class of securities registered, or required to be registered, with the Commission under section 12 or with respect to which the company files, or is required to file, periodic information, documents, and reports under subsection (d).

“(II) In the fiscal year ending immediately before the fiscal year in which the services of the M&A broker are initially engaged with respect to the securities transaction, the company meets either or both of the following conditions (determined in accordance with the historical financial accounting records of the company):

“(aa) The earnings of the company before interest, taxes, depreciation, and amortization are less than $25,000,000.

“(bb) The gross revenues of the company are less than $250,000,000.

“(iv) M&A broker.—The term ‘M&A broker’ means a broker, and any person associated with a broker, engaged in the business of effecting securities transactions solely in connection with the transfer of ownership of an eligible privately held company, regardless of whether the broker acts on behalf of a seller or buyer, through the purchase, sale, exchange, issuance, repurchase, or redemption of, or a business combination involving, securities or assets of the eligible privately held company, if the broker reasonably believes that—

“(I) upon consummation of the transaction, any person acquiring securities or assets of the eligible privately held company, acting alone or in concert—

“(aa) will control the eligible privately held company or the business conducted with the assets of the eligible privately held company; and

“(bb) directly or indirectly, will be active in the management of the eligible privately held company or the business conducted with the assets of the eligible privately held company, including without limitation, for example, by—

“(AA) electing executive officers;

“(BB) approving the annual budget;

“(CC) serving as an executive or other executive manager; or

“(DD) carrying out such other activities as the Commission may, by rule, determine to be in the public interest; and

“(II) if any person is offered securities in exchange for securities or assets of the eligible privately held company, such person will, prior to becoming legally bound to consummate the transaction, receive or have reasonable access to the most recent fiscal year-end financial statements of the issuer of the securities as customarily prepared by the management of the issuer in the normal course of operations and, if the financial statements of the issuer are audited, reviewed, or compiled, any related statement by the independent accountant, a balance sheet dated not more than 120 days before the date of the offer, and information pertaining to the management, business, results of operations for the period covered by the foregoing financial statements, and material loss contingencies of the issuer.

“(v) Shell company.—The term ‘shell company’ means a company that at the time of a transaction with an eligible privately held company—

“(I) has no or nominal operations; and

“(II) has—

“(aa) no or nominal assets;

“(bb) assets consisting solely of cash and cash equivalents; or

“(cc) assets consisting of any amount of cash and cash equivalents and nominal other assets.

“(F) Inflation adjustment.—

“(i) In general.—On the date that is 5 years after the date of the enactment of this paragraph, and every 5 years thereafter, each dollar amount in subparagraph (E)(iii)(II) shall be adjusted by—

“(I) dividing the annual value of the Employment Cost Index For Wages and Salaries, Private Industry Workers (or any successor index), as published by the Bureau of Labor Statistics, for the calendar year preceding the calendar year in which the adjustment is being made by the annual value of such index (or successor) for the calendar year ending December 31, 2020; and

“(II) multiplying such dollar amount by the quotient obtained under subclause (I).

“(ii) Rounding.—Each dollar amount determined under clause (i) shall be rounded to the nearest multiple of $100,000.”

(b)

Effective Date.— This section and any amendment made by this section shall take effect on the date that is 90 days after the date of enactment of this Act.

TITLE VI Public and Federally Assisted Housing Fire Safety

SEC. 601. Smoke Alarms in Federally Assisted Housing.

(a)

Public Housing, Tenant-Based Assistance, and Project-Based Assistance.— The United States Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended—

(1)

in section 3(a) (42 U.S.C. 1437a(a)), by adding at the end the following:

“(9) Qualifying smoke alarms.—

“(A) In general.—Each public housing agency shall ensure that a qualifying smoke alarm is installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in any dwelling unit in public housing owned or operated by the public housing agency, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(B) Definitions.—For purposes of this paragraph, the following definitions shall apply:

“(i) Smoke alarm defined.—The term ‘smoke alarm’ has the meaning given the term ‘smoke detector’ in section 29(d) of the Federal Fire Prevention and Control Act of 1974 (15 U.S.C. 2225(d)).

“(ii) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(I) in the case of a dwelling unit built before the date of enactment of this paragraph and not substantially rehabilitated after the date of enactment of this paragraph—

“(aa)

(AA) is hardwired; or

“(BB) uses 10-year non rechargeable, nonreplaceable primary batteries and is sealed, is tamper resistant, and contains silencing means; and

“(bb) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(II) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

; and

(2)

in section 8 (42 U.S.C. 1437f)—

(A)

by inserting after subsection (k) the following:

“(l) Qualifying Smoke Alarms.—

“(1) In general.—Each owner of a dwelling unit receiving project-based assistance under this section shall ensure that qualifying smoke alarms are installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(2) Definitions.—For purposes of this subsection, the following definitions shall apply:

“(A) Smoke alarm defined.—The term ‘smoke alarm’ has the meaning given the term ‘smoke detector’ in section 29(d) of the Federal Fire Prevention and Control Act of 1974 (15 U.S.C. 2225(d)).

“(B) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(i) in the case of a dwelling unit built before the date of enactment of this subsection and not substantially rehabilitated after the date of enactment of this subsection—

“(I)

(aa) is hardwired; or

“(bb) uses 10-year non rechargeable, nonreplaceable primary batteries and—

“(AA) is sealed;

“(BB) is tamper resistant; and

“(CC) contains silencing means; and

“(II) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(ii) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

; and

(B)

in subsection (o), by adding at the end the following:

“(22) Qualifying smoke alarms.—

“(A) In general.—Each dwelling unit receiving tenant-based assistance or project-based assistance under this subsection shall have a qualifying smoke alarm installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(B) Definitions.—For purposes of this paragraph, the following definitions shall apply:

“(ii) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(I) in the case of a dwelling unit built before the date of enactment of this paragraph and not substantially rehabilitated after the date of enactment of this paragraph—

“(aa)

(AA) is hardwired; or

“(BB) uses 10-year non rechargeable, nonreplaceable primary batteries and is sealed, is tamper resistant, and contains silencing means; and

“(bb) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(II) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

(b)

Supportive Housing for the Elderly.— Section 202(j) of the Housing Act of 1959 (12 U.S.C. 1701q(j)) is amended by adding at the end the following:

“(10) Qualifying smoke alarms.—

“(A) In general.—Each owner of a dwelling unit assisted under this section shall ensure that qualifying smoke alarms are installed in accordance with the requirements of applicable codes and standards and the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(B) Definitions.—For purposes of this paragraph, the following definitions shall apply:

“(ii) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(I) in the case of a dwelling unit built before the date of enactment of this paragraph and not substantially rehabilitated after the date of enactment of this paragraph—

“(aa)

(AA) is hardwired; or

“(BB) uses 10-year non rechargeable, nonreplaceable primary batteries and is sealed, is tamper resistant, and contains silencing means; and

“(bb) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(II) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

(c)

Supportive Housing for Persons With Disabilities.— Section 811(j) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013(j)) is amended by adding at the end the following:

“(8) Qualifying smoke alarms.—

“(A) In general.—Each dwelling unit assisted under this section shall contain qualifying smoke alarms that are installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(B) Definitions.—For purposes of this paragraph, the following definitions shall apply:

“(ii) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(I) in the case of a dwelling unit built before the date of enactment of this paragraph and not substantially rehabilitated after the date of enactment of this paragraph—

“(aa)

(AA) is hardwired; or

“(BB) uses 10-year non rechargeable, nonreplaceable primary batteries and is sealed, is tamper resistant, and contains silencing means; and

“(bb) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(II) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

(d)

Housing Opportunities for Persons With AIDS.— Section 856 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12905) is amended by adding at the end the following new subsection:

“(j) Qualifying Smoke Alarms.—

“(1) In general.—Each dwelling unit assisted under this subtitle shall contain qualifying smoke alarms that are installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(2) Definitions.—For purposes of this subsection, the following definitions shall apply:

“(B) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(i) in the case of a dwelling unit built before the date of enactment of this subsection and not substantially rehabilitated after the date of enactment of this subsection—

“(I)

(aa) is hardwired; or

“(bb) uses 10-year non rechargeable, nonreplaceable primary batteries and—

“(AA) is sealed;

“(BB) is tamper resistant; and

“(CC) contains silencing means; and

“(II) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(ii) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this subsection, is hardwired.”

(e)

Rural Housing.— Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended—

(1)

in section 514 (42 U.S.C. 1484), by adding at the end the following:

“(k) Qualifying Smoke Alarms.—

“(1) In general.—Housing and related facilities constructed with loans under this section shall contain qualifying smoke alarms that are installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(2) Definitions.—For purposes of this subsection, the following definitions shall apply:

“(B) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(i) in the case of a dwelling unit built before the date of enactment of this subsection and not substantially rehabilitated after the date of enactment of this subsection—

“(I)

(aa) is hardwired; or

“(bb) uses 10-year non rechargeable, nonreplaceable primary batteries and—

“(AA) is sealed;

“(BB) is tamper resistant; and

“(CC) contains silencing means; and

“(II) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(ii) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this subsection, is hardwired.”

; and

(2)

in section 515(m) (42 U.S.C. 1485(m)), by adding at the end the following:

“(3) Qualifying Smoke Alarms.—

“(A) In general.—Housing and related facilities rehabilitated or repaired with amounts received under a loan made or insured under this section shall contain qualifying smoke alarms that are installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.

“(B) Definitions.—For purposes of this paragraph, the following definitions shall apply:

“(ii) Qualifying smoke alarm defined.—The term ‘qualifying smoke alarm’ means a smoke alarm that—

“(I) in the case of a dwelling unit built before the date of enactment of this paragraph and not substantially rehabilitated after the date of enactment of this paragraph—

“(aa)

(AA) is hardwired; or

“(BB) uses 10-year non rechargeable, nonreplaceable primary batteries and is sealed, is tamper resistant, and contains silencing means; and

“(bb) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(II) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

(f)

Farm Labor Housing Direct Loans & Grants.— Section 516 of the Housing Act of 1949 (42 U.S.C. 1486) is amended—

(1)

in subsection (c)—

(A)

in paragraph (2), by striking “ and” at the end;

(B)

in paragraph (3), by striking the period at the end and inserting “ ; and”; and

(C)

by adding at the end the following:

“(4) that such housing shall contain qualifying smoke alarms that are installed in accordance with applicable codes and standards published by the International Code Council or the National Fire Protection Association and the requirements of the National Fire Protection Association Standard 72, or any successor standard, in each level and in or near each sleeping area in such dwelling unit, including in basements but excepting crawl spaces and unfinished attics, and in each common area in a project containing such a dwelling unit.”

; and

(2)

in subsection (g)—

(A)

in paragraph (3) by striking “ and” at the end;

(B)

in paragraph (4), by striking the period at the end and inserting a semicolon; and

(C)

by adding at the end the following:

“(5) the term ‘smoke alarm’ has the meaning given the term ‘smoke detector’ in section 29(d) of the Federal Fire Prevention and Control Act of 1974 (15 U.S.C. 2225(d)); and

“(6) the term ‘qualifying smoke alarm’ means a smoke alarm that—

“(A) in the case of a dwelling unit built before the date of enactment of this paragraph and not substantially rehabilitated after the date of enactment of this paragraph—

“(i)

(I) is hardwired; or

“(II) uses 10-year non rechargeable, nonreplaceable primary batteries and—

“(aa) is sealed;

“(bb) is tamper resistant; and

“(cc) contains silencing means; and

“(ii) provides notification for persons with hearing loss as required by the National Fire Protection Association Standard 72, or any successor standard; or

“(B) in the case of a dwelling unit built or substantially rehabilitated after the date of enactment of this paragraph, is hardwired.”

(g)

Authorization of Appropriations.— There is authorized to be appropriated to carry out the amendments made by this section such sums as are necessary for each of fiscal years 2023 through 2027.

(h)

Effective Date.— The amendments made by subsections (a) through (f) shall take effect on the date that is 2 years after the date of enactment of this Act.

(i)

No Preemption.— Nothing in the amendments made by this section shall be construed to preempt or limit the applicability of any State or local law relating to the installation and maintenance of smoke alarms in housing that requires standards that are more stringent than the standards described in the amendments made by this section.

TITLE VII Benjamin Berell Ferencz Congressional Gold Medal

SEC. 701. Short Title.

This title may be cited as the “Benjamin Berell Ferencz Congressional Gold Medal Act”.

SEC. 702. Findings.

Congress finds the following:

(1)

Benjamin “Ben” Berell Ferencz was born on March 11, 1920, in Transylvania, now modern-day Hungary.

(2)

In 1920, Ben and his family fled anti-Semitic persecution and emigrated to the United States. Ben grew up in New York City, and, in 1940, was awarded a scholarship to Harvard Law School where he graduated with honors.

(3)

After the onset of World War II, Ben enlisted in the United States Army in 1943, and joined an anti-aircraft artillery battalion preparing for the invasion of France. As an enlisted man under General Patton, he fought in most of the major campaigns in Europe.

(4)

As Nazi atrocities were uncovered, Ben was transferred to a newly created War Crimes Branch of the Army to gather evidence of war crimes that could be used in a court of law to prosecute persons responsible for these crimes. Ben documented the horrors perpetrated by Nazi Germany, visiting concentration camps as they were liberated.

(5)

At the end of 1945, Ben was honorably discharged from the United States Army with the rank of Sergeant of Infantry. He had been awarded five battle stars.

(6)

In 1946, the United States Government recruited Ben to join the team working on the Nuremberg tribunals, a novel independent court established to try top-ranking Nazi officials for crimes perpetrated during the course of the war, including those crimes we now call the Holocaust. Mr. Ferencz was sent to Berlin to oversee a team of 50 researchers investigating official Nazi records, which provided overwhelming evidence to implicate German doctors, lawyers, judges, generals, industrialists, and others in genocide.

(7)

By 1948, at age 27, Ben had secured enough evidence to prosecute 22 SS members of Nazi killing squads charged for the murder of over 1,000,0000 Jewish, Roma, Soviet, and other men, women, and children in shooting massacres in occupied Soviet territory. He was appointed chief prosecutor in the Einsatzgruppen Trial, in what the Associated Press called “the biggest murder trial in history”. The court found 20 Nazi officials guilty of war crimes, crimes against humanity, and membership in a criminal organization for their roles in the murder of over a million people. An additional two defendants were found guilty for membership in a criminal organization.

(8)

After the Nuremberg trials ended, Ben fought for compensation for victims and survivors of the Holocaust, the return of stolen assets, and other forms of restitution for those who had suffered at the hands of the Nazis.

(9)

Since the 1970s, Ben has worked tirelessly to promote development of international mechanisms to outlaw and punish aggressive war and the crimes of genocide, crimes against humanity and war crimes. His efforts contributed to the establishment of the International Criminal Court and to the recognition of aggression as an international crime.

(10)

Ben is a tireless advocate for international criminal justice and the conviction that the rule of law offers the world a sustainable path to stem conflict and reach peaceful conclusions to geopolitical disputes. His unwavering goal has been “to establish a legal precedent that would encourage a more humane and secure world in the future”.

(11)

Ben, at age 102, is still active, giving speeches throughout the world about lessons learned during his extraordinary career. He is compelled by the imperative to “replace the rule of force with the rule of law”, promoting judicial mechanisms that can resolve conflict. He often tells young people to “never give up” because the fight for peace and justice is worth the long struggle ahead.

SEC. 703. Congressional Gold Medal.

(a)

Presentation Authorized.— The Speaker of the House of Representatives and the President pro tempore of the Senate shall make appropriate arrangements for the presentation, on behalf of the Congress, of a gold medal of appropriate design to Benjamin Berell Ferencz, in recognition of his service to the United States and international community during the post-World War II Nuremberg trials and lifelong advocacy for international criminal justice and rule of law.

(b)

Design and Striking.— For purposes of the presentation referred to in subsection (a), the Secretary of the Treasury (referred to in this title as the “Secretary”) shall strike a gold medal with suitable emblems, devices, and inscriptions, to be determined by the Secretary. The design shall bear an image of, and inscription of the name of, Benjamin Berell Ferencz.

(c)

Disposition of Medal.— Following the award of the gold medal under subsection (a), the gold medal shall be given to Benjamin Berell Ferencz or, if unavailable, to his son, Donald Ferencz.

SEC. 704. Duplicate Medals.

(a)

In General.— The Secretary may strike and sell duplicates in bronze of the gold medal struck pursuant to section 703, at a price sufficient to cover the cost thereof, including labor, materials, dies, use of machinery, and overhead expenses.

(b)

United States Holocaust Memorial Museum.—

(1)

In general.— The Secretary shall provide a duplicate bronze medal described under subsection (a) to the United States Holocaust Memorial Museum.

(2)

Sense of congress.— It is the sense of Congress that the United States Holocaust Memorial Museum should make the duplicate medal received under this subsection available for display to the public whenever the United States Holocaust Memorial Museum determines that such display is timely, feasible, and practical.

SEC. 705. Status of Medals.

(a)

National Medals.— The medals struck pursuant to this title are national medals for purposes of chapter 51 of title 31, United States Code.

(b)

Numismatic Items.— For purposes of section 5134 of title 31, United States Code, all medals struck under this title shall be considered to be numismatic items.

SEC. 706. Authority to Use Fund Amounts; Proceeds of Sale.

(a)

Authority to Use Fund Amounts.— There is authorized to be charged against the United States Mint Public Enterprise Fund such amounts as may be necessary to pay for the costs of the medals struck under this title.

(b)

Proceeds of Sale.— Amounts received from the sale of duplicate bronze medals authorized under section 704 shall be deposited into the United States Mint Public Enterprise Fund.

TITLE VIII Congressional Oversight Commission

SEC. 801. Termination of Congressional Oversight Commission.

Section 4020(f) of the CARES Act (15 U.S.C. 9055(f)) is amended by striking “ September 30, 2025” and inserting “ June 30, 2023”.

TITLE IX Flood Insurance

SEC. 901. Reauthorization of National Flood Insurance Program.

(a)

Financing.— Section 1309(a) of the National Flood Insurance Act of 1968 (42 U.S.C. 4016(a)) is amended by striking “ September 30, 2022” and inserting “ September 30, 2023”.

(b)

Program Expiration.— Section 1319 of the National Flood Insurance Act of 1968 (42 U.S.C. 4026) is amended by striking “ September 30, 2022” and inserting “ September 30, 2023”.

(c)

Retroactive Effective Date.— The amendments made by subsections (a) and (b) shall take effect as if enacted on September 30, 2022.

Division AA — Financial Services Matters