in this Act shall be construed to except the activities 
under this Act from application of sections 507(b), 
517, and 2679 of title 28, United States Code; and 
(9) prescribe such rules, regulations, and proce-
dures as the Administration may deem appropriate 
to carry out this Act. 
SEC. 502. AUDITS. 
(a) RECORDKEEPING REQUIREMENT.—Each recipi-
ent of assistance under this Act shall keep such records 
as the Administration shall prescribe, including records 
which fully disclose the amount and the disposition by the 
recipient of the proceeds of such assistance, the total cost 
of the undertaking for which such assistance is given or 
used, the amount and nature of that portion of the cost 
of the undertaking supplied by other sources, and such 
other records as will facilitate an effective audit. 
(b) ACCESS BY GOVERNMENT OFFICIALS.—The As-
sistant Secretary, the Inspector General of the Depart-
ment of Commerce, and the Comptroller General of the 
United States, or any of their duly authorized representa-
tives, shall have access for the purpose of audit, investiga-
tion, and examination to any books, documents, papers, 
records, and other materials of the recipient which are 
pertinent to the assistance received under this Act. 
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(c) REVIEW BY COMPTROLLER GENERAL.—Not later 
than 18 months after the date of the enactment of this 
Act, the Comptroller General of the United States shall 
conduct a thorough review of the programs authorized by 
this Act and shall transmit to the Congress a detailed re-
port of the Comptroller’s findings, including therein an 
evaluation of the effectiveness of the programs authorized 
to achieve the purpose of this Act, a description of any 
failure to comply with the requirements of this Act, and 
recommendations for corrective legislative or administra-
tive action. 
SEC. 503. ANNUAL REPORT. 
The Assistant Secretary shall, not later than 120 
days after the close of each fiscal year, submit to the 
President a full report of the Administration’s activities 
hereunder during the previous fiscal year. Further, the As-
sistant Secretary shall, from time to time, submit to the 
President recommendations for legislation or other actions 
as the Assistant Secretary deems desirable to promote the 
purposes of this Act. Each Federal agency shall consult 
with the Assistant Secretary on a timely basis so that the 
Assistant Secretary may consider them for the Assistant 
Secretary’s report and recommendations to the President. 
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SEC. 504. SEPARABILITY. 
If any provision of this Act or the application thereof 
to any persons or circumstances shall be adjudged by any 
court of competent jurisdiction to be invalid, such judg-
ment shall not affect, impair, or invalidate the remainder 
of this Act or its application to other persons and cir-
cumstances, but shall be confined in its operation to the 
provision of this Act or the application thereof to the per-
sons and circumstances directly involved in the con-
troversy in which such judgment shall have been rendered. 
SEC. 505. AUTHORIZATION FOR APPROPRIATIONS. 
There are hereby authorized to be appropriated such 
sums as may be necessary and appropriate to carry out 
the provisions and purposes of this Act other than those 
for which appropriations may from time to time be specifi-
cally authorized. 
SEC. 506. TERMINATION OF AUTHORITY UNDER EXECUTIVE 
ORDER NUMBERED 11625. 
Beginning on the date of the enactment of this Act, 
the powers and duties of the Administration shall be deter-
mined without regard to Executive Order Numbered 
11625. 
Æ 
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