ary and shall end on the thirty-first day of Decem-
ber of each calendar year. 
‘‘(2) SCHOOLS.—Effective with respect to fiscal 
year 2007 and each succeeding fiscal year, the fiscal 
year for the District of Columbia Public Schools (in-
cluding public charter schools) and the University of 
the District of Columbia shall begin on the first day 
of July and end on the thirtieth day of June of each 
calendar year.’’. 
SEC. 5. EXTENSION OF DEADLINE FOR COUNCIL TO ADOPT 
BUDGET TO ACCOUNT FOR DAYS OF RECESS. 
Section 446(a) of the District of Columbia Home 
Rule Act (sec. 1–204.46(a), D.C. Official Code), as 
amended by section 101(a), is amended by striking ‘‘50 
calendar days’’ and inserting ‘‘56 calendar days’’. 
SEC. 6. EXEMPTION OF DISTRICT GOVERNMENT EMPLOY-
EES ON COMPRESSED SCHEDULE FROM FED-
ERAL OVERTIME REQUIREMENTS. 
(a) IN GENERAL.—Section 7 of the Fair Labor 
Standards Act (29 U.S.C. 207) shall not apply to the 
hours of an employee of the District of Columbia govern-
ment which constitute a compressed schedule. 
(b) COMPRESSED SCHEDULE DEFINED.—In this sec-
tion, the term ‘‘compressed schedule’’ means—
(1) in the case of a full-time employee, an 80-
hour biweekly basic work requirement which is 
scheduled for less than 10 workdays, and 
(2) in the case of a part-time employee, a bi-
weekly basic work requirement of less than 80 hours 
which is scheduled for less than 10 workdays. 
(c) EFFECTIVE DATE.—This section shall apply with 
respect to hours occurring on or after the date of the en-
actment of this Act. 
SEC. 7. AVAILABILITY OF ENFORCED ANNUAL LEAVE OR 
ENFORCED LEAVE WITHOUT PAY AS DIS-
CIPLINARY 
ACTION 
FOR 
CORPORATION 
COUNSEL ATTORNEYS. 
(a) IN GENERAL.—Section 856(a) of the District of 
Columbia Government Comprehensive Merit Personnel 
Act of 1978 (sec. 1–608.56(a), D.C. Official Code) is 
amended by striking ‘‘or reduction in grade,’’ and insert-
ing ‘‘reduction in grade, or the placing of such attorney 
on enforced annual leave or enforced leave without pay,’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall take effect on the date of the enact-
ment of this Act.
SEC. 8. REGULATION OF DISTRICT OF COLUMBIA BANKS BY 
FEDERAL DEPOSIT INSURANCE CORPORA-
TION. 
(a) FEDERAL DEPOSIT INSURANCE ACT.—(1) Sec-
tion 3 of the Federal Deposit Insurance Act (12 U.S.C. 
1813) is amended—
(A) in subsection (a)(1)(A), by striking ‘‘, State 
bank, and District bank’’ and inserting ‘‘and State 
bank’’; 
(B) in subsection (a), by striking paragraph 
(4); 
(C) in subsection (q)(1), by striking ‘‘, any Dis-
trict bank,’’; 
(D) in subsection (q)(2)(A), by striking ‘‘(ex-
cept a District bank)’’; and 
(E) in subsection (q)(3), by striking ‘‘(except a 
District bank),’’. 
(2) Section 7(a)(1) of such Act (12 U.S.C. 
1817(a)(1)) is amended by striking ‘‘(except a District 
bank)’’. 
(3) Section 10(b)(2)(A) of such Act (12 U.S.C. 
1820(b)(2)(A)) is amended by striking ‘‘(except a District 
bank)’’. 
(4) Section 11 of such Act (12 U.S.C. 1821) is 
amended—
(A) in subsection (c)(2)(A)(i), by striking ‘‘or 
District bank’’; 
(B) in subsection (c)(2)(A)(ii)—
(i) by striking ‘‘or District bank’’; and 
(ii) by striking ‘‘or the code of law for the 
District of Columbia’’; and 
(C) in subsection (c)(3)(A), by striking ‘‘(other 
than a District depository institution)’’. 
(5) Section 18 of such Act (12 U.S.C. 1828) is 
amended—
(A) in section (c)(2)(A), by striking ‘‘or a Dis-
trict bank’’; 
(B) in subsection (c)(2)(B), by striking ‘‘(ex-
cept a District bank)’’; 
(C) in subsection (c)(2)(C), by striking ‘‘a Dis-
trict Bank or’’; 
(D) in subsection (d)(1), by striking ‘‘(except a 
District bank)’’ each place such term appears; 
(E) in subsection (f), by striking ‘‘or a District 
bank’’; 
(F) in subsection (i)(1), by striking ‘‘(except a 
District bank)’’; 
(G) in subsection (i)(2), by striking subpara-
graph (A) and by redesignating subparagraphs (B),
(C), and (D) as subparagraphs (A), (B), and (C), 
respectively; 
(H) in subsection (i)(2)(A) (as so redesignated 
by subparagraph (G)), by striking ‘‘(except a Dis-
trict bank)’’; and 
(I) in subsection (i)(2)(B) (as so redesignated 
by subparagraph (G)), by striking ‘‘(except a Dis-
trict bank)’’. 
(b) NATIONAL HOUSING ACT.—Section 203(s)(5) of 
the National Housing Act (12 U.S.C. 1709(s)(5)) is 
amended by striking ‘‘or District bank’’. 
(c) BANK HOLDING COMPANY ACT.—The Bank 
Holding Company Act of 1956 is amended—
(1) in section 2(c) (12 U.S.C. 1841(c)), by 
striking paragraph (3); and 
(2) in section 3(b)(1) (12 U.S.C. 1842(b)(1)), 
by striking ‘‘or a District bank’’. 
(d) BANK PROTECTION ACT OF 1968.—Section 2(1) 
of the Bank Protection Act of 1968 (12 U.S.C. 1881(1)) 
is amended by striking ‘‘and district banks’’. 
(e) DEPOSITORY INSTITUTION MANAGEMENT INTER-
LOCKS ACT.—The Depository Institution Management 
Interlocks Act (12 U.S.C. 3201 et seq.) is amended—
(1) in section 207(1), by striking ‘‘and banks 
located in the District of Columbia’’; and
(2) in section 209(1), by striking ‘‘and banks 
located in the District of Columbia’’. 
(f) SECURITIES EXCHANGE ACT OF 1934.—The Se-
curities Exchange Act of 1934 is amended—
(1) in section 3(a)(34) (15 U.S.C. 78c(34)), by 
striking ‘‘or a bank operating under the Code of 
Law for the District of Columbia’’ each place such 
term appears in clause (i) of subparagraphs (A), 
(B), (C), (D), and (F); 
(2) in section 3(a)(34)(G)(i) (15 U.S.C. 
78c(34)(G)(i)), by striking ‘‘, a bank in the District 
of Columbia examined by the Comptroller of the 
Currency,’’; 
(3) in section 3(a)(34)(H)(i) (15 U.S.C. 
78c(34)(H)(i)), by striking ‘‘or a bank in the Dis-
trict of Columbia examined by the Comptroller of 
the Currency’’; 
(4) in section 12(i)(1) (15 U.S.C. 78l(i)(1)), by 
striking ‘‘and banks operating under the Code of 
Law for the District of Columbia’’; 
(5) 
in 
section 
17(f)(4)(A) 
(15 
U.S.C. 
78q(f)(4)(A)), by striking ‘‘and banks operating 
under the Code of Law for the District of Colum-
bia’’; and
(6) 
in 
section 
17(f)(4)(B) 
(15 
U.S.C. 
78q(f)(4)(B)), by striking ‘‘or a bank operating 
under the Code of Law for the District of Colum-
bia’’. 
(g) NATIONAL BANK RECEIVERSHIP ACT.—The Na-
tional Bank Receivership Act is amended by striking sec-
tion 6. 
(h) FEDERAL RESERVE ACT.—The last sentence of 
the 3rd undesignated paragraph of section 9 of the Fed-
eral Reserve Act (12 U.S.C. 321) is amended by striking 
‘‘(except within the District of Columbia)’’. 
(i) EFFECTIVE DATE.—The amendments made by 
this section shall take effect on the date of the enactment 
of this Act. 
SEC. 9. EFFECTIVE DATE. 
Except as otherwise provided, this Act and the 
amendments made by this Act shall apply with respect to 
fiscal year 2005 and each succeeding fiscal year.
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