277 
(c) PROCUREMENT.—The Administrator of the Admin-
istration shall be the senior procurement officer for the Ad-
ministration for purposes of section 16(a) of the Office of 
Federal Procurement Policy Act (41 U.S.C. 414(a)). 
(d) FINANCIAL MATTERS.— 
(1) INVESTMENTS.—Funds of the Administration 
may be invested in such investments as the Board of 
Directors may prescribe. 
(2) FISCAL AGENTS.—Any Federal Reserve bank 
or any bank as to which at the time of the designa-
tion of the bank by the Administrator of the Adminis-
tration there is outstanding a designation by the Sec-
retary of the Treasury as a general or other deposi-
tory of public money, may be designated by the Ad-
ministrator of the Administration as a depositary or 
custodian or as a fiscal or other agent of the Adminis-
tration. 
(e) JURISDICTION.—Notwithstanding section 1349 of 
title 28, United States Code, or any other provision of 
law— 
(1) the Administration shall be considered a cor-
poration covered by sections 1345 and 1442 of title 
28, United States Code; 
(2) all civil actions to which the Administration 
is a party shall be considered to arise under the laws 
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of the United States, and the district courts of the 
United States shall have original jurisdiction of all 
such actions, without regard to amount or value; and 
(3) any civil or other action, case or controversy 
in a court of a State, or in any court other than a 
district court of the United States, to which the Ad-
ministration is a party may at any time before trial 
be removed by the Administration, without the giving 
of any bond or security and by following any proce-
dure for removal of causes in effect at the time of the 
removal— 
(A) to the district court of the United States 
for the district and division embracing the place 
in which the same is pending; or 
(B) if there is no such district court, to the 
district court of the United States for the district 
in which the principal office of the Administra-
tion is located. 
(f) PERIODIC REPORTS.—Not later than 1 year after 
commencement of operation of the Administration and at 
least biannually thereafter, the Administrator of the Ad-
ministration shall submit to the Committee on Energy and 
Natural Resources of the Senate and the Committee on En-
ergy and Commerce of the House of Representatives a report 
that includes a description of— 
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279 
(1) the technologies supported by activities of the 
Administration and how the activities advance the 
purpose stated in section 182; and 
(2) the performance of the Administration on 
meeting the goals established under section 185. 
(g) AUDITS BY THE COMPTROLLER GENERAL.— 
(1) IN GENERAL.—The programs, activities, re-
ceipts, expenditures, and financial transactions of the 
Administration shall be subject to audit by the Comp-
troller General of the United States under such rules 
and regulations as may be prescribed by the Comp-
troller General. 
(2) ACCESS.—The representatives of the Govern-
ment Accountability Office shall— 
(A) have access to the personnel and to all 
books, accounts, documents, records (including 
electronic records), reports, files, and all other 
papers, automated data, things, or property be-
longing to, under the control of, or in use by the 
Administration, or any agent, representative, at-
torney, advisor, or consultant retained by the 
Administration, and necessary to facilitate the 
audit; 
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(B) be afforded full facilities for verifying 
transactions with the balances or securities held 
by depositories, fiscal agents, and custodians; 
(C) be authorized to obtain and duplicate 
any such books, accounts, documents, records, 
working papers, automated data and files, or 
other information relevant to the audit without 
cost to the Comptroller General; and 
(D) have the right of access of the Comp-
troller General to such information pursuant to 
section 716(c) of title 31, United States Code. 
(3) ASSISTANCE AND COST.— 
(A) IN GENERAL.—For the purpose of con-
ducting an audit under this subsection, the 
Comptroller General may, in the discretion of 
the Comptroller General, employ by contract, 
without regard to section 3709 of the Revised 
Statutes (41 U.S.C. 5), professional services of 
firms and organizations of certified public ac-
countants for temporary periods or for special 
purposes. 
(B) REIMBURSEMENT.— 
(i) IN GENERAL.—On the request of the 
Comptroller General, the Administration 
shall reimburse the Government Account-
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281 
ability Office for the full cost of any audit 
conducted by the Comptroller General under 
this subsection. 
(ii) CREDITING.—Such reimbursements 
shall— 
(I) be credited to the appropria-
tion account entitled ‘‘Salaries and 
Expenses, Government Accountability 
Office’’ at the time at which the pay-
ment is received; and 
(II) remain available until ex-
pended. 
(h) ANNUAL INDEPENDENT AUDITS.— 
(1) IN GENERAL.—The Administrator of the Ad-
ministration shall— 
(A) have an annual independent audit 
made of the financial statements of the Adminis-
tration by an independent public accountant in 
accordance with generally accepted auditing 
standards; and 
(B) submit to the Secretary the results of 
the audit. 
(2) CONTENT.—In conducting an audit under 
this subsection, the independent public accountant 
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shall determine and report on whether the financial 
statements of the Administration— 
(A) are presented fairly in accordance with 
generally accepted accounting principles; and 
(B) comply with any disclosure require-
ments imposed under this subtitle. 
(i) FINANCIAL REPORTS.— 
(1) IN GENERAL.—The Administrator of the Ad-
ministration shall submit to the Secretary annual 
and quarterly reports of the financial condition and 
operations of the Administration, which shall be in 
such form, contain such information, and be sub-
mitted on such dates as the Secretary shall require. 
(2) CONTENTS OF ANNUAL REPORTS.—Each an-
nual report shall include— 
(A) financial statements prepared in ac-
cordance with generally accepted accounting 
principles; 
(B) any supplemental information or alter-
native presentation that the Secretary may re-
quire; and 
(C) an assessment (as of the end of the most 
recent fiscal year of the Administration), signed 
by the chief executive officer and chief accounting 
or financial officer of the Administration, of— 
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