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[DOCID: f:hr387p1.111]
From the House Reports Online via GPO Access
[wais.access.gpo.gov]

111th Congress                                            Rept. 111-387
                        HOUSE OF REPRESENTATIVES
 1st Session                                                     Part 1
=====================================================================
 
        GOVERNMENT ACCOUNTABILITY OFFICE IMPROVEMENT ACT OF 2009

                                _______
                                

 December 19, 2009.--Committed to the Committee of the Whole House on 
            the State of the Union and ordered to be printed

                                _______
                                

   Mr. Towns, from the Committee on Oversight and Government Reform, 
                        submitted the following

                              R E P O R T

                        [To accompany H.R. 2646]

      [Including cost estimate of the Congressional Budget Office]

    The Committee on Oversight and Government Reform, to whom 
was referred the bill (H.R. 2646) to amend title 31, United 
States Code, to enhance the oversight authorities of the 
Comptroller General, and for other purposes, having considered 
the same, report favorably thereon with an amendment and 
recommend that the bill as amended do pass.

                                CONTENTS

                                                                   Page
Purpose and Summary..............................................     3
Background and Need for Legislation..............................     4
Legislative History..............................................     4
Section-by-Section...............................................     4
Explanation of Amendments........................................     6
Committee Consideration..........................................     7
Rollcall Votes...................................................     7
Application of Law to the Legislative Branch.....................     7
Statement of Oversight Findings and Recommendations of the 
  Committee......................................................     7
Statement of General Performance Goals and Objectives............     7
Constitutional Authority Statement...............................     7
Federal Advisory Committee Act...................................     7
Unfunded Mandates Statement......................................     8
Earmark Identification...........................................     8
Committee Estimate...............................................     8
Budget Authority and Congressional Budget Office Cost Estimate...     8
Changes in Existing Law Made by the Bill, as Reported............     9

  The amendment is as follows:
  Strike all after the enacting clause and insert the 
following:

SECTION 1. SHORT TITLE.

  This Act may be cited as the ``Government Accountability Office 
Improvement Act of 2009''.

SEC. 2. AUTHORITY TO OBTAIN INFORMATION.

  (a) Authority To Obtain Records.--Section 716 of title 31, United 
States Code, is amended in subsection (a)--
          (1) by striking ``(a)'' and inserting ``(2)''; and
          (2) by inserting after the section heading the following:
  ``(a)(1) The Comptroller General is authorized to obtain such agency 
records as the Comptroller General requires to discharge his duties 
(including audit, evaluation, and investigative duties), including 
through the bringing of civil actions under this section. In reviewing 
a civil action under this section, the court shall recognize the 
continuing force and effect of the authorization in the preceding 
sentence until such time as the authorization is repealed pursuant to 
law.''.
  (b) Copies and Interviews.--Section 716(a) of title 31, United States 
Code, as amended by subsection (a), is further amended in the second 
sentence of paragraph (2) by striking ``inspect an agency record'' and 
inserting ``inspect, and make and retain copies of, an agency record 
and interview agency officers and employees''.
  (c) Rules of Construction.--Section 716 of title 31, United States 
Code, is amended by adding at the end the following new subsection:
  ``(f) No provision of any law in existence on the date of the 
enactment of this section or enacted after such date shall be construed 
to limit, amend, or supersede the authority of the Comptroller General 
to obtain any information, to inspect any record, or to interview any 
officer or employee under this section, except to the extent such 
provision expressly and specifically refers to this section and 
provides for such limitation, amendment, or supersession.''.

SEC. 3. ADMINISTERING OATHS.

  Paragraph (4) of section 711 of title 31, United States Code, is 
amended to read as follows:
          ``(4) administer oaths to witnesses, except that, in matters 
        other than auditing and settling accounts, the authority of an 
        officer or employee to administer oaths to witnesses pursuant 
        to a delegation under paragraph (2) shall not be available 
        without the prior express approval of the Comptroller General 
        (or a designee).''.

SEC. 4. AGENCY REPORTS.

  Section 720(b) of title 31, United States Code, is amended--
          (1) in the matter preceding paragraph (1), by inserting ``or 
        planned'' after ``action taken''; and
          (2) by amending paragraph (1) to read as follows:
          ``(1) the Committee on Homeland Security and Governmental 
        Affairs of the Senate, the Committee on Oversight and 
        Government Operations of the House of Representatives, the 
        congressional committees with jurisdiction over the agency 
        program or activity that is the subject of the recommendation, 
        and the Government Accountability Office before the 61st day 
        after the date of the report; and''.

SEC. 5. REVIEWS OF SPECIAL FEDERAL RESERVE CREDIT FACILITIES.

  (a) Reviews.--Section 714 of title 31, United States Code (as amended 
by section 801 of Public Law 111-22), is amended by adding at the end 
the following new subsection:
  ``(f) Reviews of Credit Facilities of the Federal Reserve System.--
          ``(1) In general.--Subject to paragraph (3) and 
        notwithstanding any limitation in subsection (b) on the 
        auditing and overseeing of certain functions of the Board of 
        Governors of the Federal Reserve System or any Federal reserve 
        bank, the Comptroller General may conduct reviews, including 
        onsite examinations when the Comptroller General determines 
        such actions are appropriate, of credit facilities established 
        by the Board or any Federal reserve bank, and of the 
        establishment of such credit facilities by the Board or any 
        Federal reserve bank--
                  ``(A) in carrying out any action or function approved 
                by the Board under the 3rd undesignated paragraph of 
                section 13 of the Federal Reserve Act (12 U.S.C. 343); 
                or
                  ``(B) in providing temporary assistance to private 
                institutions as the lender of last resort.
          ``(2) Description.--As of the date of the enactment of this 
        subsection, the credit facilities to which this subsection 
        applies include the following:
                  ``(A) Money Market Investor Funding Facility.
                  ``(B) Asset-Backed Commercial Paper Money Market 
                Mutual Fund Liquidity Facility.
                  ``(C) Term Asset-Backed Securities Loan Facility.
                  ``(D) Term Auction Facility.
                  ``(E) The Primary Dealer Credit Facility.
                  ``(F) The Commercial Paper Funding Facility.
                  ``(G) The Term Securities Lending Facility, including 
                the Term Securities Lending Facility Options Program.
                  ``(H) The Revolving Credit Facility.
                  ``(I) Reciprocal currency arrangements with foreign 
                central banks.
                  ``(J) Mortgage Backed Securities Purchase Program, as 
                well as the purchase of debt obligations from a 
                Government Sponsored Enterprise.
                  ``(K) Any special purpose vehicle through which any 
                such credit facility conducts any activity or lending.
          ``(3) Termination of authority.--Paragraph (1) shall cease to 
        apply after the expiration of the 5-year period beginning on 
        the date of the enactment of this subsection.
          ``(4) Report.--
                  ``(A) Required.--A report on each review conducted 
                under paragraph (1) shall be submitted by the 
                Comptroller General to the Congress before the end of 
                the 90-day period beginning on the date on which such 
                review is completed.
                  ``(B) Contents.--The report under subparagraph (A) 
                shall include a detailed description of the findings 
                and conclusions of the Comptroller General with respect 
                to the review that is the subject of the report, 
                together with such recommendations for legislative or 
                administrative action as the Comptroller General may 
                determine to be appropriate.''.
  (b) Access to Records.--Section 714(d) of title 31, United States 
Code (as amended by section 801 of Public Law 111-22), is amended--
          (1) in paragraph (1)--
                  (A) in the first sentence, by inserting after ``an 
                agency'' the following: ``or any facility established 
                by an agency (as specified in subsection (f))''; and
                  (B) in the second sentence, by inserting after ``and 
                any entity'' the following: ``or facility''; and
          (2) in paragraph (2), by inserting after ``used by an 
        agency'' the following: ``or any facility established by an 
        agency (as specified in subsection (f))''.

                          Purpose and Summary

    H.R. 2646, the ``Government Accountability Office 
Improvement Act of 2009'', was introduced on June 2, 2009, by 
Oversight and Government Reform Committee Chairman Edolphus 
Towns. H.R. 2646 clarifies and strengthens the authority of the 
Government Accountability Office (GAO) in several critical 
areas, including its access to records.
    H.R. 2646 addresses a court decision, Walker v. Cheney, 230 
F. Supp. 2d 51 (D.D.C. 2002), which limited GAO's ability to 
question agency access decisions in court. H.R. 2646 explicitly 
provides the Comptroller General with standing to pursue 
litigation when and if the Comptroller General decides that the 
performance of his official duties is harmed by an agency 
improperly withholding information from the GAO. H.R. 2646 
further enhances GAO's access to information in two key areas. 
It confirms GAO's right to make and retain copies of records, 
and provides GAO with the right to interview agency officers 
and employees under section 716(a) of Title 31, United States 
Code. In addition, H.R. 2646 sets forth a rule of construction 
providing that GAO's statutory authority to access information 
supersedes non-disclosure language in agency-specific statutes, 
unless that legislation expressly limits GAO's access. H.R. 
2646 also clarifies GAO's authority to administer oaths. 
Additionally, the bill provides agencies more flexibility in 
reporting to Congress in response to GAO recommendations. 
Finally, as amended in Committee, H.R. 2646 explicitly extends 
GAO's authority to conduct audits of certain credit facilities 
established by the Federal Reserve for the five-year period 
following enactment of the legislation.

                  Background and Need for Legislation

    Congress relies on the GAO in carrying out the 
investigative and oversight functions vested in the Legislative 
Branch. H.R. 2646 is necessary to ensure that GAO can 
effectively carry out all of its functions for the Congress. 
The GAO helps inform the Congress, Executive agencies, and the 
public about areas and programs within the federal government 
that are performing well, and those that need to be improved or 
are vulnerable to waste, fraud, and abuse. GAO audits provide 
reliable assessments as to whether the taxpayers are receiving 
full value from important government programs. H.R. 2646 is 
intended to increase the effectiveness of GAO by ensuring that 
GAO is not unnecessarily restricted in its efforts to secure 
necessary information in the course of performing its auditing 
and investigative functions for the Congress.

                          Legislative History

    H.R. 2646 was introduced by Chairman Towns on June 2, 2009. 
On June 4, 2009, the Committee on Oversight and Government 
Reform held a markup of the bill, and ordered the bill to be 
reported, as amended, by voice vote.
    In the 110th Congress, similar legislation, H.R. 6388, 
passed the House of Representatives by a voice vote on July 29, 
2008. Prior to House passage of the bill, the Subcommittee on 
the Federal Workforce, Postal Service, and the District of 
Columbia held a hearing on March 13, 2008, on legislation to 
improve the oversight, administration, and investigative 
authorities of GAO. On Wednesday, July 16, 2008, the Committee 
met in open session and favorably ordered H.R. 6388 to be 
reported to the House by a voice vote.

                           Section-by-Section


Sec. 1. Short title

    The short title of the bill is the Government 
Accountability Office Improvement Act of 2009.

Sec. 2. Authority to obtain information

    This section would clarify that Congress has authorized GAO 
to pursue civil actions in federal court if federal departments 
and agencies, including the Executive Office of the President 
and the White House, improperly withhold federal records from 
GAO. In litigation arising from GAO's efforts to obtain 
information about the operations of former Vice President 
Cheney's energy task force, the federal district court for the 
District of Columbia held that the Comptroller General lacked 
standing to enforce GAO's right to information (Walker v. 
Cheney, 230 F. Supp. 2d 51 (D.D.C. 2002)). This decision 
undermines GAO's ability to successfully carry out the 
investigative responsibilities delegated to it by the Congress. 
By limiting GAO's ability to conduct audits and investigations, 
the decision also has the effect of undermining Congress' 
constitutional prerogatives to determine how best to carry out 
its investigative, legislative, and oversight responsibilities. 
H.R. 2646 reaffirms and makes explicit the authorization from 
Congress to the Comptroller General to pursue litigation when 
and if the Comptroller General decides that the performance of 
his official duties is harmed by an agency or contractor 
improperly withholding information from GAO, without the need 
for any additional approval. In effect, section 2(a) of H.R. 
2646 represents a legislative repudiation of the court's 
decision in Walker v. Cheney.
    In addition, GAO has had a longstanding right of access to 
agency records. However, its audit, evaluation, and 
investigative efforts occasionally have been frustrated and 
delayed by agencies not providing GAO with copies of needed 
records and by a lack of willingness on the part of agency 
officers and employees to discuss the content of records or 
provide background information relevant to programs under 
review. While the right to copy records is inherent in GAO's 
authority to obtain the information it needs from agencies, 
some agencies nevertheless have insisted that GAO review agency 
records only on site, without making copies, including 
situations where no practical justification exists. In 
addition, many agency activities are not documented, which 
means that the cooperation of agency officers and employees 
provides the only viable means for GAO to obtain information 
about certain activities. Accordingly, subsection (b) enhances 
GAO's existing access authority by explicitly confirming GAO's 
right to make and retain copies of records, and by providing 
GAO with the right to interview agency officers and employees 
under section 716(a) of Title 31.
    Subsection (c) further confirms GAO's access authority by 
requiring agencies to interpret statutes as requiring 
disclosure of information to GAO, unless the statute expressly 
denies GAOthe right to access such information. In numerous 
instances, agencies have seized on statutory language placing 
limitations on the disclosure or use of data to conclude that such data 
could not be disclosed to GAO. The rule of construction provided in 
H.R. 2646 is consistent with the GAO's enforcement provision under 
section 716 of Title 31, and will apply to existing as well as future 
provisions of law, except to the extent a statute expressly and 
specifically limits the Comptroller General's access to information.

Sec. 3. Administering oaths

    When Congress established GAO in 1921, auditing and 
settling accounts were its principal focus, but that is no 
longer the case. The Congress has called upon the Comptroller 
General to perform many other audit, investigative, and 
adjudicative roles for the Congress. These roles periodically 
raise situations involving potential criminal or ethical 
violations, or conflicting testimony or assertions concerning 
sensitive subjects. In such situations, the ability to 
administer oaths can be an important tool--as it has been for 
agency Inspector Generals, including GAO's statutory Inspector 
General--to allow the Comptroller General to better accomplish 
his work for the Congress. This section amends section 711 of 
title 31 to remove references to auditing and settling accounts 
in the Comptroller General's authority to administer oaths to 
witnesses, except that, in situations other than auditing or 
settling accounts, prior express approval of the Comptroller 
General or a designee is required.

Sec. 4. Agency reports

    Section 4 amends section 720 of title 31 to allow an agency 
more flexibility in reporting to Congress on its response to a 
GAO recommendation. Currently, agencies must report two months 
after issuance of a GAO report on ``action taken.'' H.R. 2646 
recognizes that agencies must decide on a course of action 
before implementing it, and therefore, requires agencies to 
report within two months on actions planned or taken in 
response to a GAO recommendation. The section also expands the 
list of recipients of the agency reports to include GAO and the 
congressional committees with jurisdiction over the agency 
program or activity that is the subject of the recommendation.

Sec. 5. Review of special Federal Reserve credit facilities

    Section 5 amends section 714 of title 31 to allow the GAO 
to conduct reviews of certain actions taken by the Federal 
Reserve that previously have been exempt from GAO review. 
Previously-excluded actions concerning monetary policy 
decisions, discount window operations, and other matters have 
been a major part of the Federal Reserve's unprecedented 
exercise of authority in response to the recent financial 
crisis. The section addresses an accountability shortcoming in 
oversight of Federal Reserve actions by providing the GAO with 
authority to conduct onsite examinations of credit facilities 
established by the Federal Reserve in carrying out any action 
or function approved by the Federal Reserve under section 13 of 
the Federal Reserve Act or in providing temporary assistance to 
private institutions as the lender of last resort. The section 
further requires GAO to submit a report on all reviews they 
conduct under this section. The authority provided by this 
section would expire five years after the enactment of the 
bill.

                       Explanation of Amendments

    An amendment, offered by Rep. Kucinich, was agreed to on a 
voice vote. The amendment, which adds section 5 to H.R. 2646, 
would allow the GAO to review and audit certain monetary policy 
and other actions taken by the Federal Reserve, including those 
taken in response to the financial crisis. The Federal Banking 
Agency Audit Act of 1978 (P.L. 95-320) severely limits the 
ability of the GAO to conduct audits and reviews of many 
actions taken by the Federal Reserve. The Act specifically 
excludes from audit and review those transactions for or with a 
foreign central bank or foreign government, as well as 
deliberations, decisions, or actions on monetary policy 
matters, including discount window operations. These activities 
have been a major part of the Federal Reserve's recent and 
unprecedented response to the financial crisis.
    S. 896, the ``Helping Families Save Their Homes Act'' (P.L. 
111-22), which passed the House of Representatives on May 19, 
2009, and was signed by President Obama on May 20, 2009, 
included language to allow GAO to audit some of the previously-
excluded activities. The amendment to H.R. 2646 offered by Mr. 
Kucinich would extend this authority to ensure that all action 
taken by the Federal Reserve in response to the financial 
crisis are subject to GAO review. The amendment would allow 
Congress to obtain a complete picture of the Federal Reserve's 
actions in response to the financial crisis, as well as improve 
transparency at the Federal Reserve.
    The amendment is similar to the language of H.R. 2424, a 
bipartisan bill introduced by Rep. Kucinich, Chairman Towns, 
Ranking Member Issa, and Domestic Policy Subcommittee Ranking 
Member Jordan.

                        Committee Consideration

    On Thursday, June 4, 2009, the Committee met in open 
session and ordered H.R. 2646, as amended, to be favorably 
reported to the House by a voice vote.

                             Rollcall Votes

    No rollcall votes were taken.

              Application of Law to the Legislative Branch

    Section 102(b)(3) of Public Law 104-1 requires a 
description of the application of this bill to the Legislative 
Branch where the bill relates to terms and conditions of 
employment or access to public services and accommodations.
    H.R. 2646 clarifies and expands the authority of the GAO to 
access information and records in the course of conducting 
audits and investigations. This bill does not relate to 
employment or access to public services and accommodations in 
the Legislative Branch.

  Statement of Oversight Findings and Recommendations of the Committee

    In compliance with clause 3(c)(1) of rule XIII and clause 
(2)(b)(1) of rule X of the Rules of the House of 
Representatives, the Committee's oversight findings and 
recommendations are reflected in the descriptive portions of 
this report, including the need to enhance the ability of GAO 
to access information and records.

         Statement of General Performance Goals and Objectives

    In accordance with clause 3(c)(4) of rule XIII of the Rules 
of the House of Representatives, the Committee's performance 
goals and objectives are reflected in the descriptive portions 
of this report, including the need to enhance the ability of 
GAO to access information and records to assist the Congress in 
carrying out the oversight and investigative functions vested 
in the Legislative Branch.

                   Constitutional Authority Statement

    Under clause 3(d)(1) of rule XIII of the Rules of the House 
of Representatives, the Committee must include a statement 
citing the specific powers granted to Congress to enact the law 
proposed by H.R. 2646. Article I, Section 8, Clause 18 of the 
Constitution of the United States grants the Congress the power 
to enact this law.

                     Federal Advisory Committee Act

    The Committee finds that the legislation does not establish 
or authorize the establishment of an advisory committee within 
the definition of 5 U.S.C. App., Section 5(b).

                      Unfunded Mandates Statement

    Section 423 of the Congressional Budget and Impoundment 
Control Act (as amended by Section 101(a)(2) of the Unfunded 
Mandates Reform Act, P.L. 104-4) requires a statement on 
whether the provisions of the report include unfunded mandates. 
In compliance with this requirement the Committee has received 
a letter from the Congressional Budget Office included herein.

                         Earmark Identification

    H.R. 2646 does not include any congressional earmarks, 
limited tax benefits, or limited tariff benefits as defined in 
clause 9(d), 9(e), or 9(f) of rule XXI.

                           Committee Estimate

    Clause 3(d)(2) of rule XIII of the Rules of the House of 
Representatives requires an estimate and a comparison by the 
Committee of the costs that would be incurred in carrying out 
H.R. 2646. However, clause 3(d)(3)(B) of that rule provides 
that this requirement does not apply when the Committee has 
included in its report a timely submitted cost estimate of the 
bill prepared by the Director of the Congressional Budget 
Office under section 402 of the Congressional Budget Act.

     Budget Authority and Congressional Budget Office Cost Estimate

    With respect to the requirements of clause 3(c)(2) of rule 
XIII of the Rules of the House of Representatives and section 
308(a) of the Congressional Budget Act of 1974 and with respect 
to requirements of clause 3(c)(3) of rule XIII of the Rules of 
the House of Representatives and section 402 of the 
Congressional Budget Act of 1974, the Committee has received 
the following cost estimate for H.R. 2646 from the Director of 
the Congressional Budget Office:

                                                      June 9, 2009.
Hon. Edolphus Towns,
Chairman, Committee on Oversight and Government Reform,
House of Representatives, Washington, DC.
    Dear Mr. Chairman: The Congressional Budget Office has 
prepared the enclosed cost estimate for H.R. 2646, the 
Government Accountability Office Improvement Act of 2009.
    If you wish further details on this estimate, we will be 
pleased to provide them. The CBO staff contact is Deborah Reis.
            Sincerely,
                                              Douglas W. Elmendorf.
    Enclosure.

H.R. 2646--Government Accountability Office Improvement Act of 2009

    H.R. 2646 would provide additional authorities to the 
Government Accountability Office (GAO), including the authority 
to obtain certain records and administer oaths to witnesses. 
CBO estimates that implementing the legislation would have no 
significant effect on the federal budget. The additional 
authorities provided by the bill would facilitate GAO's audit 
procedures and other activities.
    H.R. 2646 contains no intergovernmental or private-sector 
mandates as defined in the Unfunded Mandates Reform Act and 
would impose no costs on state, local, or tribal governments.
    The CBO staff contact for this estimate is Deborah Reis. 
The estimate was approved by Theresa Gullo, Deputy Assistant 
Director for Budget Analysis.

         Changes in Existing Law Made by the Bill, as Reported

  In compliance with clause 3(e) of rule XIII of the Rules of 
the House of Representatives, changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italic, existing law in which no change is 
proposed is shown in roman):

                      TITLE 31, UNITED STATES CODE




           *       *       *       *       *       *       *
SUBTITLE I--GENERAL

           *       *       *       *       *       *       *


CHAPTER 7--GOVERNMENT ACCOUNTABILITY OFFICE

           *       *       *       *       *       *       *



                SUBCHAPTER II--GENERAL DUTIES AND POWERS


Sec. 711. General authority

  The Comptroller General may--
          (1) * * *

           *       *       *       *       *       *       *

          [(4) administer oaths to witnesses when auditing and 
        settling accounts.]
          (4) administer oaths to witnesses, except that, in 
        matters other than auditing and settling accounts, the 
        authority of an officer or employee to administer oaths 
        to witnesses pursuant to a delegation under paragraph 
        (2) shall not be available without the prior express 
        approval of the Comptroller General (or a designee).

           *       *       *       *       *       *       *


Sec. 714. Audit of Financial Institutions Examination Council, Federal 
                    Reserve Board, Federal reserve banks, Federal 
                    Deposit Insurance Corporation, and Office of 
                    Comptroller of the Currency

  (a) * * *

           *       *       *       *       *       *       *

  (d)(1) To carry out this section, all records and property of 
or used by an agency or any facility established by an agency 
(as specified in subsection (f)), including samples of reports 
of examinations of a bank or bank holding company the 
Comptroller General considers statistically meaningful and 
workpapers and correspondence related to the reports shall be 
made available to the Comptroller General. The Comptroller 
General shall have access to the officers, employees, 
contractors, and other agents and representatives of an agency 
and any entity or facility established by an agency at any 
reasonable time as the Comptroller General may request. The 
Comptroller General may make and retain copies of such books, 
accounts, and other records as the Comptroller General 
determines appropriate. The Comptroller General shall give an 
agency a current list of officers and employees to whom, with 
proper identification, records and property may be made 
available, and who may make notes or copies necessary to carry 
out an audit.
  (2) The Comptroller General shall prevent unauthorized access 
to records, copies of any record, or property of or used by an 
agency or any facility established by an agency (as specified 
in subsection (f)) that the Comptroller General obtains during 
an audit.

           *       *       *       *       *       *       *

  (f) Reviews of Credit Facilities of the Federal Reserve 
System.--
          (1) In general.--Subject to paragraph (3) and 
        notwithstanding any limitation in subsection (b) on the 
        auditing and overseeing of certain functions of the 
        Board of Governors of the Federal Reserve System or any 
        Federal reserve bank, the Comptroller General may 
        conduct reviews, including onsite examinations when the 
        Comptroller General determines such actions are 
        appropriate, of credit facilities established by the 
        Board or any Federal reserve bank, and of the 
        establishment of such credit facilities by the Board or 
        any Federal reserve bank--
                  (A) in carrying out any action or function 
                approved by the Board under the 3rd 
                undesignated paragraph of section 13 of the 
                Federal Reserve Act (12 U.S.C. 343); or
                  (B) in providing temporary assistance to 
                private institutions as the lender of last 
                resort.
          (2) Description.--As of the date of the enactment of 
        this subsection, the credit facilities to which this 
        subsection applies include the following:
                  (A) Money Market Investor Funding Facility.
                  (B) Asset-Backed Commercial Paper Money 
                Market Mutual Fund Liquidity Facility.
                  (C) Term Asset-Backed Securities Loan 
                Facility.
                  (D) Term Auction Facility.
                  (E) The Primary Dealer Credit Facility.
                  (F) The Commercial Paper Funding Facility.
                  (G) The Term Securities Lending Facility, 
                including the Term Securities Lending Facility 
                Options Program
                  (H) The Revolving Credit Facility.
                  (I) Reciprocal currency arrangements with 
                foreign central banks.
                  (J) Mortgage Backed Securities Purchase 
                Program, as well as the purchase of debt 
                obligations from a Government Sponsored 
                Enterprise.
                  (K) Any special purpose vehicle through which 
                any such credit facility conducts any activity 
                or lending.
          (3) Termination of authority.--Paragraph (1) shall 
        cease to apply after the expiration of the 5-year 
        period beginning on the date of the enactment of this 
        subsection.
          (4) Report.--
                  (A) Required.--A report on each review 
                conducted under paragraph (1) shall be 
                submitted by the Comptroller General to the 
                Congress before the end of the 90-day period 
                beginning on the date on which such review is 
                completed.
                  (B) Contents.--The report under subparagraph 
                (A) shall include a detailed description of the 
                findings and conclusions of the Comptroller 
                General with respect to the review that is the 
                subject of the report, together with such 
                recommendations for legislative or 
                administrative action as the Comptroller 
                General may determine to be appropriate.

           *       *       *       *       *       *       *


Sec. 716. Availability of information and inspection of records

  (a)(1) The Comptroller General is authorized to obtain such 
agency records as the Comptroller General requires to discharge 
his duties (including audit, evaluation, and investigative 
duties), including through the bringing of civil actions under 
this section. In reviewing a civil action under this section, 
the court shall recognize the continuing force and effect of 
the authorization in the preceding sentence until such time as 
the authorization is repealed pursuant to law.
  [(a)] (2) Each agency shall give the Comptroller General 
information the Comptroller General requires about the duties, 
powers, activities, organization, and financial transactions of 
the agency. The Comptroller General may [inspect an agency 
record] inspect, and make and retain copies of, an agency 
record and interview agency officers and employees to get the 
information. This subsection does not apply to expenditures 
made under section 3524 or 3526(e) of this title.

           *       *       *       *       *       *       *

  (f) No provision of any law in existence on the date of the 
enactment of this section or enacted after such date shall be 
construed to limit, amend, or supersede the authority of the 
Comptroller General to obtain any information, to inspect any 
record, or to interview any officer or employee under this 
section, except to the extent such provision expressly and 
specifically refers to this section and provides for such 
limitation, amendment, or supersession.

           *       *       *       *       *       *       *


Sec. 720. Agency reports

  (a) * * *
  (b) When the Comptroller General makes a report that includes 
a recommendation to the head of an agency, the head of the 
agency shall submit a written statement on action taken or 
planned on the recommendation by the head of the agency. The 
statement shall be submitted to--
          [(1) the Committee on Governmental Affairs of the 
        Senate and the Committee on Government Operations of 
        the House of Representatives before the 61st day after 
        the date of the report; and]
          (1) the Committee on Homeland Security and 
        Governmental Affairs of the Senate, the Committee on 
        Oversight and Government Operations of the House of 
        Representatives, the congressional committees with 
        jurisdiction over the agency program or activity that 
        is the subject of the recommendation, and the 
        Government Accountability Office before the 61st day 
        after the date of the report; and

           *       *       *       *       *       *       *


                                  <all>
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