‘‘(1) ESTABLISHMENT OF FUND.—The Director 
shall establish a fund within the Office of Personnel 
Management for financing essential Federal Execu-
tive Board functions— 
‘‘(A) including basic staffing and operating 
expenses; and 
‘‘(B) excluding the costs of the Office of 
Personnel Management relating to administra-
tive and oversight activities conducted under 
subsection (d). 
‘‘(2) DEPOSITS.—There shall be deposited in 
the fund established under paragraph (1) contribu-
tions from the headquarters of each agency partici-
pating in Federal Executive Boards, in an amount 
determined by a formula established by the Director, 
in consultation with the headquarters of such agen-
cies and the Office of Management and Budget. 
‘‘(3) CONTRIBUTIONS.— 
‘‘(A) FORMULA.—The formula for con-
tributions established by the Director shall con-
sider the number of employees in each agency 
in all geographic areas served by Federal Exec-
utive Boards. The contribution of the head-
quarters of each agency to the fund shall be re-
calculated at least every 2 years. 
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‘‘(B) IN-KIND
CONTRIBUTIONS.—At the 
sole discretion of the Director, the headquarters 
of an agency may provide in-kind contributions 
instead of providing monetary contributions to 
the fund. 
‘‘(4) USE OF EXCESS AMOUNTS.—Any unobli-
gated and unexpended balances in the fund which 
the Director determines to be in excess of amounts 
needed for essential Federal Executive Board func-
tions shall be allocated by the Director, in consulta-
tion with the headquarters of agencies participating 
in Federal Executive Boards, among the Federal 
Executive Boards for the activities under subsection 
(e) and other priorities, such as conducting training. 
‘‘(5) 
ADMINISTRATIVE
AND
OVERSIGHT 
COSTS.—The Office of Personnel Management shall 
pay for costs relating to administrative and oversight 
activities conducted under subsection (d) from ap-
propriations made available to the Office of Per-
sonnel Management. 
‘‘(g) REPORTS.—The Director shall submit annual 
reports to Congress and agencies on Federal Executive 
Board program outcomes and budget matters. 
‘‘(h) REGULATIONS.—The Director shall prescribe 
regulations necessary to carry out this section.’’. 
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(b) REPORT.—Not later than 60 days after the date 
of enactment of this Act, the Director of the Office of Per-
sonnel Management shall submit a report to the Com-
mittee on Homeland Security and Governmental Affairs 
of the Senate and the Committee on Oversight and Gov-
ernment Reform of the House of Representatives that in-
cludes— 
(1) a description of essential Federal Executive 
Board functions; 
(2) details of basic staffing requirements for 
each Federal Executive Board; 
(3) estimates of basic staffing and operating ex-
penses for each Federal Executive Board; and 
(4) a comparison of basic staffing and oper-
ating expenses for Federal Executive Boards oper-
ating before the date of enactment of this Act and 
such expenses for Federal Executive Boards after 
the implementation of this Act. 
(c) TECHNICAL AND CONFORMING AMENDMENTS.— 
The table of sections for chapter 11 of title 5, United 
States Code, is amended by inserting after the item relat-
ing to section 1105 the following: 
‘‘1106. Federal Executive Boards.’’. 
Æ 
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