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studies, and similar efforts to carry out the purposes of 
the National Science and Technology Council (authorized 
by Executive Order No. 12881), which benefit multiple 
Federal departments, agencies, or entities: Provided, That 
the Office of Management and Budget shall provide a re-
port describing the budget of and resources connected with 
the National Science and Technology Council to the Com-
mittees on Appropriations, the House Committee on 
Science and Technology, and the Senate Committee on 
Commerce, Science, and Transportation 90 days after en-
actment of this Act. 
SEC. 724. Any request for proposals, solicitation, 
grant application, form, notification, press release, or 
other publications involving the distribution of Federal 
funds shall comply with any relevant requirements in part 
200 of title 2, Code of Federal Regulations: Provided, 
That this section shall apply to direct payments, formula 
funds, and grants received by a State receiving Federal 
funds. 
SEC. 725. (a) PROHIBITION OF FEDERAL AGENCY 
MONITORING OF INDIVIDUALS’ INTERNET USE.—None of 
the funds made available in this or any other Act may 
be used by any Federal agency— 
(1) to collect, review, or create any aggregation 
of data, derived from any means, that includes any 
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personally identifiable information relating to an in-
dividual’s access to or use of any Federal Govern-
ment Internet site of the agency; or 
(2) to enter into any agreement with a third 
party (including another government agency) to col-
lect, review, or obtain any aggregation of data, de-
rived from any means, that includes any personally 
identifiable information relating to an individual’s 
access to or use of any nongovernmental Internet 
site. 
(b) EXCEPTIONS.—The limitations established in 
subsection (a) shall not apply to— 
(1) any record of aggregate data that does not 
identify particular persons; 
(2) any voluntary submission of personally iden-
tifiable information; 
(3) any action taken for law enforcement, regu-
latory, or supervisory purposes, in accordance with 
applicable law; or 
(4) any action described in subsection (a)(1) 
that is a system security action taken by the oper-
ator of an Internet site and is necessarily incident 
to providing the Internet site services or to pro-
tecting the rights or property of the provider of the 
Internet site. 
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(c) DEFINITIONS.—For the purposes of this section: 
(1) The term ‘‘regulatory’’ means agency ac-
tions to implement, interpret or enforce authorities 
provided in law. 
(2) The term ‘‘supervisory’’ means examina-
tions of the agency’s supervised institutions, includ-
ing assessing safety and soundness, overall financial 
condition, management practices and policies and 
compliance with applicable standards as provided in 
law. 
SEC. 726. (a) None of the funds appropriated by this 
Act may be used to enter into or renew a contract which 
includes a provision providing prescription drug coverage, 
except where the contract also includes a provision for con-
traceptive coverage. 
(b) Nothing in this section shall apply to a contract 
with— 
(1) any of the following religious plans: 
(A) Personal Care’s HMO; and 
(B) OSF HealthPlans, Inc.; and 
(2) any existing or future plan, if the carrier 
for the plan objects to such coverage on the basis of 
religious beliefs. 
(c) In implementing this section, any plan that enters 
into or renews a contract under this section may not sub-
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ject any individual to discrimination on the basis that the 
individual refuses to prescribe or otherwise provide for 
contraceptives because such activities would be contrary 
to the individual’s religious beliefs or moral convictions. 
(d) Nothing in this section shall be construed to re-
quire coverage of abortion or abortion-related services. 
SEC. 727. The United States is committed to ensur-
ing the health of its Olympic, Pan American, and 
Paralympic athletes, and supports the strict adherence to 
anti-doping in sport through testing, adjudication, edu-
cation, and research as performed by nationally recognized 
oversight authorities. 
SEC. 728. Notwithstanding any other provision of 
law, funds appropriated for official travel to Federal de-
partments and agencies may be used by such departments 
and agencies, if consistent with Office of Management and 
Budget Circular A–126 regarding official travel for Gov-
ernment personnel, to participate in the fractional aircraft 
ownership pilot program. 
SEC. 729. Notwithstanding any other provision of 
law, no executive branch agency shall purchase, construct, 
or lease any additional facilities, except within or contig-
uous to existing locations, to be used for the purpose of 
conducting Federal law enforcement training without the 
advance approval of the Committees on Appropriations of 
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the House of Representatives and the Senate, except that 
the Federal Law Enforcement Training Center is author-
ized to obtain the temporary use of additional facilities 
by lease, contract, or other agreement for training which 
cannot be accommodated in existing Center facilities. 
SEC. 730. Unless otherwise authorized by existing 
law, none of the funds provided in this or any other Act 
may be used by an executive branch agency to produce 
any prepackaged news story intended for broadcast or dis-
tribution in the United States, unless the story includes 
a clear notification within the text or audio of the pre-
packaged news story that the prepackaged news story was 
prepared or funded by that executive branch agency. 
SEC. 731. None of the funds made available in this 
Act may be used in contravention of section 552a of title 
5, United States Code (popularly known as the Privacy 
Act), and regulations implementing that section. 
SEC. 732. (a) IN GENERAL.—None of the funds ap-
propriated or otherwise made available by this or any 
other Act may be used for any Federal Government con-
tract with any foreign incorporated entity which is treated 
as an inverted domestic corporation under section 835(b) 
of the Homeland Security Act of 2002 (6 U.S.C. 395(b)) 
or any subsidiary of such an entity. 
(b) WAIVERS.— 
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(1) IN GENERAL.—Any Secretary shall waive 
subsection (a) with respect to any Federal Govern-
ment contract under the authority of such Secretary 
if the Secretary determines that the waiver is re-
quired in the interest of national security. 
(2) REPORT
TO
CONGRESS.—Any Secretary 
issuing a waiver under paragraph (1) shall report 
such issuance to Congress. 
(c) EXCEPTION.—This section shall not apply to any 
Federal Government contract entered into before the date 
of the enactment of this Act, or to any task order issued 
pursuant to such contract. 
SEC. 733. During fiscal year 2018, for each employee 
who— 
(1) 
retires 
under 
section 
8336(d)(2) 
or 
8414(b)(1)(B) of title 5, United States Code; or 
(2) retires under any other provision of sub-
chapter III of chapter 83 or chapter 84 of such title 
5 and receives a payment as an incentive to sepa-
rate, the separating agency shall remit to the Civil 
Service Retirement and Disability Fund an amount 
equal to the Office of Personnel Management’s aver-
age unit cost of processing a retirement claim for 
the preceding fiscal year. Such amounts shall be 
available until expended to the Office of Personnel 
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Management and shall be deemed to be an adminis-
trative expense under section 8348(a)(1)(B) of title 
5, United States Code. 
SEC. 734. (a) None of the funds made available in 
this or any other Act may be used to recommend or re-
quire any entity submitting an offer for a Federal contract 
to disclose any of the following information as a condition 
of submitting the offer: 
(1) Any payment consisting of a contribution, 
expenditure, independent expenditure, or disburse-
ment for an electioneering communication that is 
made by the entity, its officers or directors, or any 
of its affiliates or subsidiaries to a candidate for 
election for Federal office or to a political com-
mittee, or that is otherwise made with respect to any 
election for Federal office. 
(2) Any disbursement of funds (other than a 
payment described in paragraph (1)) made by the 
entity, its officers or directors, or any of its affiliates 
or subsidiaries to any person with the intent or the 
reasonable expectation that the person will use the 
funds to make a payment described in paragraph 
(1). 
(b) In this section, each of the terms ‘‘contribution’’, 
‘‘expenditure’’, ‘‘independent expenditure’’, ‘‘election-
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eering communication’’, ‘‘candidate’’, ‘‘election’’, and 
‘‘Federal office’’ has the meaning given such term in the 
Federal Election Campaign Act of 1971 (52 U.S.C. 30101 
et seq.). 
SEC. 735. None of the funds made available in this 
or any other Act may be used to pay for the painting of 
a portrait of an officer or employee of the Federal govern-
ment, including the President, the Vice President, a mem-
ber of Congress (including a Delegate or a Resident Com-
missioner to Congress), the head of an executive branch 
agency (as defined in section 133 of title 41, United States 
Code), or the head of an office of the legislative branch. 
SEC. 736. (a)(1) Notwithstanding any other provision 
of law, and except as otherwise provided in this section, 
no part of any of the funds appropriated for fiscal year 
2018, by this or any other Act, may be used to pay any 
prevailing 
rate 
employee 
described 
in 
section 
5342(a)(2)(A) of title 5, United States Code— 
(A) during the period from the date of expira-
tion of the limitation imposed by the comparable sec-
tion for the previous fiscal years until the normal ef-
fective date of the applicable wage survey adjust-
ment that is to take effect in fiscal year 2018, in an 
amount that exceeds the rate payable for the appli-
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cable grade and step of the applicable wage schedule 
in accordance with such section; and 
(B) during the period consisting of the remain-
der of fiscal year 2018 , in an amount that exceeds, 
as a result of a wage survey adjustment, the rate 
payable under subparagraph (A) by more than the 
sum of— 
(i) the percentage adjustment taking effect 
in fiscal year 2018 under section 5303 of title 
5, United States Code, in the rates of pay 
under the General Schedule; and 
(ii) the difference between the overall aver-
age percentage of the locality-based com-
parability payments taking effect in fiscal year 
2018 under section 5304 of such title (whether 
by adjustment or otherwise), and the overall av-
erage percentage of such payments which was 
effective in the previous fiscal year under such 
section. 
(2) Notwithstanding any other provision of law, no 
prevailing rate employee described in subparagraph (B) or 
(C) of section 5342(a)(2) of title 5, United States Code, 
and no employee covered by section 5348 of such title, 
may be paid during the periods for which paragraph (1) 
is in effect at a rate that exceeds the rates that would 
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be payable under paragraph (1) were paragraph (1) appli-
cable to such employee. 
(3) For the purposes of this subsection, the rates pay-
able to an employee who is covered by this subsection and 
who is paid from a schedule not in existence on September 
30, 2017, shall be determined under regulations pre-
scribed by the Office of Personnel Management. 
(4) Notwithstanding any other provision of law, rates 
of premium pay for employees subject to this subsection 
may not be changed from the rates in effect on September 
30, 2017, except to the extent determined by the Office 
of Personnel Management to be consistent with the pur-
pose of this subsection. 
(5) This subsection shall apply with respect to pay 
for service performed after September 30, 2017. 
(6) For the purpose of administering any provision 
of law (including any rule or regulation that provides pre-
mium pay, retirement, life insurance, or any other em-
ployee benefit) that requires any deduction or contribu-
tion, or that imposes any requirement or limitation on the 
basis of a rate of salary or basic pay, the rate of salary 
or basic pay payable after the application of this sub-
section shall be treated as the rate of salary or basic pay. 
(7) Nothing in this subsection shall be considered to 
permit or require the payment to any employee covered 
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by this subsection at a rate in excess of the rate that would 
be payable were this subsection not in effect. 
(8) The Office of Personnel Management may provide 
for exceptions to the limitations imposed by this sub-
section if the Office determines that such exceptions are 
necessary to ensure the recruitment or retention of quali-
fied employees. 
(b) Notwithstanding subsection (a), the adjustment 
in rates of basic pay for the statutory pay systems that 
take place in fiscal year 2018 under sections 5344 and 
5348 of title 5, United States Code, shall be— 
(1) not less than the percentage received by em-
ployees in the same location whose rates of basic pay 
are adjusted pursuant to the statutory pay systems 
under sections 5303 and 5304 of title 5, United 
States Code: Provided, That prevailing rate employ-
ees at locations where there are no employees whose 
pay is increased pursuant to sections 5303 and 5304 
of title 5, United States Code, and prevailing rate 
employees described in section 5343(a)(5) of title 5, 
United States Code, shall be considered to be located 
in the pay locality designated as ‘‘Rest of United 
States’’ pursuant to section 5304 of title 5, United 
States Code, for purposes of this subsection; and 
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(2) effective as of the first day of the first ap-
plicable pay period beginning after September 30, 
2017. 
SEC. 737. (a) The head of any Executive branch de-
partment, agency, board, commission, or office funded by 
this or any other appropriations Act shall submit annual 
reports to the Inspector General or senior ethics official 
for any entity without an Inspector General, regarding the 
costs and contracting procedures related to each con-
ference held by any such department, agency, board, com-
mission, or office during fiscal year 2018 for which the 
cost to the United States Government was more than 
$100,000. 
(b) Each report submitted shall include, for each con-
ference described in subsection (a) held during the applica-
ble period— 
(1) a description of its purpose; 
(2) the number of participants attending; 
(3) a detailed statement of the costs to the 
United States Government, including— 
(A) the cost of any food or beverages; 
(B) the cost of any audio-visual services; 
(C) the cost of employee or contractor 
travel to and from the conference; and 
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(D) a discussion of the methodology used 
to determine which costs relate to the con-
ference; and 
(4) a description of the contracting procedures 
used including— 
(A) whether contracts were awarded on a 
competitive basis; and 
(B) a discussion of any cost comparison 
conducted by the departmental component or 
office in evaluating potential contractors for the 
conference. 
(c) Within 15 days after the end of a quarter, the 
head of any such department, agency, board, commission, 
or office shall notify the Inspector General or senior ethics 
official for any entity without an Inspector General, of the 
date, location, and number of employees attending a con-
ference held by any Executive branch department, agency, 
board, commission, or office funded by this or any other 
appropriations Act during fiscal year 2018 for which the 
cost to the United States Government was more than 
$20,000. 
(d) A grant or contract funded by amounts appro-
priated by this or any other appropriations Act may not 
be used for the purpose of defraying the costs of a con-
ference described in subsection (c) that is not directly and 
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programmatically related to the purpose for which the 
grant or contract was awarded, such as a conference held 
in connection with planning, training, assessment, review, 
or other routine purposes related to a project funded by 
the grant or contract. 
(e) None of the funds made available in this or any 
other appropriations Act may be used for travel and con-
ference activities that are not in compliance with Office 
of Management and Budget Memorandum M–12–12 
dated May 11, 2012 or any subsequent revisions to that 
memorandum. 
SEC. 738. None of the funds made available in this 
or any other appropriations Act may be used to increase, 
eliminate, or reduce funding for a program, project, or ac-
tivity as proposed in the President’s budget request for 
a fiscal year until such proposed change is subsequently 
enacted in an appropriation Act, or unless such change 
is made pursuant to the reprogramming or transfer provi-
sions of this or any other appropriations Act. 
SEC. 739. None of the funds made available by this 
or any other Act may be used to implement, administer, 
enforce, or apply the rule entitled ‘‘Competitive Area’’ 
published by the Office of Personnel Management in the 
Federal Register on April 15, 2008 (73 Fed. Reg. 20180 
et seq.). 
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SEC. 740. (a) None of the funds appropriated or oth-
erwise made available by this or any other Act may be 
available for a contract, grant, or cooperative agreement 
with an entity that requires employees or contractors of 
such entity seeking to report fraud, waste, or abuse to sign 
internal confidentiality agreements or statements prohib-
iting or otherwise restricting such employees or contrac-
tors from lawfully reporting such waste, fraud, or abuse 
to a designated investigative or law enforcement represent-
ative of a Federal department or agency authorized to re-
ceive such information. 
(b) The limitation in subsection (a) shall not con-
travene requirements applicable to Standard Form 312, 
Form 4414, or any other form issued by a Federal depart-
ment or agency governing the nondisclosure of classified 
information. 
SEC. 741. (a) No funds appropriated in this or any 
other Act may be used to implement or enforce the agree-
ments in Standard Forms 312 and 4414 of the Govern-
ment or any other nondisclosure policy, form, or agree-
ment if such policy, form, or agreement does not contain 
the following provisions: ‘‘These provisions are consistent 
with and do not supersede, conflict with, or otherwise alter 
the employee obligations, rights, or liabilities created by 
existing statute or Executive order relating to: (1) classi-
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fied information; (2) communications to Congress; (3) the 
reporting to an Inspector General of a violation of any 
law, rule, or regulation, or mismanagement, a gross waste 
of funds, an abuse of authority, or a substantial and spe-
cific danger to public health or safety; or (4) any other 
whistleblower protection. The definitions, requirements, 
obligations, rights, sanctions, and liabilities created by 
controlling Executive orders and statutory provisions are 
incorporated into this agreement and are controlling.’’: 
Provided, That notwithstanding the preceding provision of 
this section, a nondisclosure policy form or agreement that 
is to be executed by a person connected with the conduct 
of an intelligence or intelligence-related activity, other 
than an employee or officer of the United States Govern-
ment, may contain provisions appropriate to the particular 
activity for which such document is to be used. Such form 
or agreement shall, at a minimum, require that the person 
will not disclose any classified information received in the 
course of such activity unless specifically authorized to do 
so by the United States Government. Such nondisclosure 
forms shall also make it clear that they do not bar disclo-
sures to Congress, or to an authorized official of an execu-
tive agency or the Department of Justice, that are essen-
tial to reporting a substantial violation of law. 
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(b) A nondisclosure agreement may continue to be 
implemented and enforced notwithstanding subsection (a) 
if it complies with the requirements for such agreement 
that were in effect when the agreement was entered into. 
(c) No funds appropriated in this or any other Act 
may be used to implement or enforce any agreement en-
tered into during fiscal year 2014 which does not contain 
substantially similar language to that required in sub-
section (a). 
SEC. 742. None of the funds made available by this 
or any other Act may be used to enter into a contract, 
memorandum of understanding, or cooperative agreement 
with, make a grant to, or provide a loan or loan guarantee 
to, any corporation that has any unpaid Federal tax liabil-
ity that has been assessed, for which all judicial and ad-
ministrative remedies have been exhausted or have lapsed, 
and that is not being paid in a timely manner pursuant 
to an agreement with the authority responsible for col-
lecting the tax liability, where the awarding agency is 
aware of the unpaid tax liability, unless a Federal agency 
has considered suspension or debarment of the corporation 
and has made a determination that this further action is 
not necessary to protect the interests of the Government. 
SEC. 743. None of the funds made available by this 
or any other Act may be used to enter into a contract, 
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memorandum of understanding, or cooperative agreement 
with, make a grant to, or provide a loan or loan guarantee 
to, any corporation that was convicted of a felony criminal 
violation under any Federal law within the preceding 24 
months, where the awarding agency is aware of the convic-
tion, unless a Federal agency has considered suspension 
or debarment of the corporation and has made a deter-
mination that this further action is not necessary to pro-
tect the interests of the Government. 
SEC. 744. (a) During fiscal year 2018, on the date 
on which a request is made for a transfer of funds in ac-
cordance with section 1017 of Public Law 111–203, the 
Bureau of Consumer Financial Protection shall notify the 
Committees on Appropriations of the House of Represent-
atives and the Senate, the Committee on Financial Serv-
ices of the House of Representatives, and the Committee 
on Banking, Housing, and Urban Affairs of the Senate 
of such request. 
(b) Any notification required by this section shall be 
made available on the Bureau’s public Web site. 
SEC. 745. None of the funds made available under 
this or any other Act may be used to implement or enforce 
Executive Order No. 13690, ‘‘Establishing a Federal 
Flood Risk Management Standard and a Process for Fur-
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ther Soliciting and Considering Stakeholder Input’’, in-
cluding any related rules, interim final rules, or guidance. 
SEC. 746. Except as expressly provided otherwise, 
any reference to ‘‘this Act’’ contained in any title other 
than title IV or VIII shall not apply to such title IV or 
VIII. 
TITLE VIII 
GENERAL PROVISIONS—DISTRICT OF 
COLUMBIA 
(INCLUDING TRANSFERS OF FUNDS) 
SEC. 801. There are appropriated from the applicable 
funds of the District of Columbia such sums as may be 
necessary for making refunds and for the payment of legal 
settlements or judgments that have been entered against 
the District of Columbia government. 
SEC. 802. None of the Federal funds provided in this 
Act shall be used for publicity or propaganda purposes or 
implementation of any policy including boycott designed 
to support or defeat legislation pending before Congress 
or any State legislature. 
SEC. 803. (a) None of the Federal funds provided 
under this Act to the agencies funded by this Act, both 
Federal and District government agencies, that remain 
available for obligation or expenditure in fiscal year 2018, 
or provided from any accounts in the Treasury of the 
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United States derived by the collection of fees available 
to the agencies funded by this Act, shall be available for 
obligation or expenditures for an agency through a re-
programming of funds which— 
(1) creates new programs; 
(2) eliminates a program, project, or responsi-
bility center; 
(3) establishes or changes allocations specifi-
cally denied, limited or increased under this Act; 
(4) increases funds or personnel by any means 
for any program, project, or responsibility center for 
which funds have been denied or restricted; 
(5) re-establishes any program or project pre-
viously deferred through reprogramming; 
(6) augments any existing program, project, or 
responsibility center through a reprogramming of 
funds in excess of $3,000,000 or 10 percent, which-
ever is less; or 
(7) increases by 20 percent or more personnel 
assigned to a specific program, project or responsi-
bility center, 
unless prior approval is received from the Committees on 
Appropriations of the House of Representatives and the 
Senate. 
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(b) The District of Columbia government is author-
ized to approve and execute reprogramming and transfer 
requests of local funds under this title through November 
7, 2018. 
SEC. 804. None of the Federal funds provided in this 
Act may be used by the District of Columbia to provide 
for salaries, expenses, or other costs associated with the 
offices of United States Senator or United States Rep-
resentative under section 4(d) of the District of Columbia 
Statehood Constitutional Convention Initiatives of 1979 
(D.C. Law 3–171; D.C. Official Code, sec. 1–123). 
SEC. 805. Except as otherwise provided in this sec-
tion, none of the funds made available by this Act or by 
any other Act may be used to provide any officer or em-
ployee of the District of Columbia with an official vehicle 
unless the officer or employee uses the vehicle only in the 
performance of the officer’s or employee’s official duties. 
For purposes of this section, the term ‘‘official duties’’ 
does not include travel between the officer’s or employee’s 
residence and workplace, except in the case of— 
(1) an officer or employee of the Metropolitan 
Police Department who resides in the District of Co-
lumbia or is otherwise designated by the Chief of the 
Department; 
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(2) at the discretion of the Fire Chief, an offi-
cer or employee of the District of Columbia Fire and 
Emergency Medical Services Department who re-
sides in the District of Columbia and is on call 24 
hours a day; 
(3) at the discretion of the Director of the De-
partment of Corrections, an officer or employee of 
the District of Columbia Department of Corrections 
who resides in the District of Columbia and is on 
call 24 hours a day; 
(4) at the discretion of the Chief Medical Ex-
aminer, an officer or employee of the Office of the 
Chief Medical Examiner who resides in the District 
of Columbia and is on call 24 hours a day; 
(5) at the discretion of the Director of the 
Homeland Security and Emergency Management 
Agency, an officer or employee of the Homeland Se-
curity and Emergency Management Agency who re-
sides in the District of Columbia and is on call 24 
hours a day; 
(6) the Mayor of the District of Columbia; and 
(7) the Chairman of the Council of the District 
of Columbia. 
SEC. 806. (a) None of the Federal funds contained 
in this Act may be used by the District of Columbia Attor-
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ney General or any other officer or entity of the District 
government to provide assistance for any petition drive or 
civil action which seeks to require Congress to provide for 
voting representation in Congress for the District of Co-
lumbia. 
(b) Nothing in this section bars the District of Co-
lumbia Attorney General from reviewing or commenting 
on briefs in private lawsuits, or from consulting with offi-
cials of the District government regarding such lawsuits. 
SEC. 807. None of the Federal funds contained in 
this Act may be used to distribute any needle or syringe 
for the purpose of preventing the spread of blood borne 
pathogens in any location that has been determined by the 
local public health or local law enforcement authorities to 
be inappropriate for such distribution. 
SEC. 808. Nothing in this Act may be construed to 
prevent the Council or Mayor of the District of Columbia 
from addressing the issue of the provision of contraceptive 
coverage by health insurance plans, but it is the intent 
of Congress that any legislation enacted on such issue 
should include a ‘‘conscience clause’’ which provides excep-
tions for religious beliefs and moral convictions. 
SEC. 809. (a) None of the Federal funds contained 
in this Act may be used to enact or carry out any law, 
rule, or regulation to legalize or otherwise reduce penalties 
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associated with the possession, use, or distribution of any 
schedule I substance under the Controlled Substances Act 
(21 U.S.C. 801 et seq.) or any tetrahydrocannabinols de-
rivative. 
(b) No funds available for obligation or expenditure 
by the District of Columbia government under any author-
ity may be used to enact any law, rule, or regulation to 
legalize or otherwise reduce penalties associated with the 
possession, use, or distribution of any schedule I substance 
under the Controlled Substances Act (21 U.S.C. 801 et 
seq.) or any tetrahydrocannabinols derivative for rec-
reational purposes. 
SEC. 810. No funds available for obligation or ex-
penditure by the District of Columbia government under 
any authority shall be expended for any abortion except 
where the life of the mother would be endangered if the 
fetus were carried to term or where the pregnancy is the 
result of an act of rape or incest. 
SEC. 811. (a) No later than 30 calendar days after 
the date of the enactment of this Act, the Chief Financial 
Officer for the District of Columbia shall submit to the 
appropriate committees of Congress, the Mayor, and the 
Council of the District of Columbia, a revised appropriated 
funds operating budget in the format of the budget that 
the District of Columbia government submitted pursuant 
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to section 442 of the District of Columbia Home Rule Act 
(D.C. Official Code, sec. 1–204.42), for all agencies of the 
District of Columbia government for fiscal year 2018 that 
is in the total amount of the approved appropriation and 
that realigns all budgeted data for personal services and 
other-than-personal services, respectively, with anticipated 
actual expenditures. 
(b) This section shall apply only to an agency for 
which the Chief Financial Officer for the District of Co-
lumbia certifies that a reallocation is required to address 
unanticipated changes in program requirements. 
SEC. 812. No later than 30 calendar days after the 
date of the enactment of this Act, the Chief Financial Offi-
cer for the District of Columbia shall submit to the appro-
priate committees of Congress, the Mayor, and the Council 
for the District of Columbia, a revised appropriated funds 
operating budget for the District of Columbia Public 
Schools that aligns schools budgets to actual enrollment. 
The revised appropriated funds budget shall be in the for-
mat of the budget that the District of Columbia govern-
ment submitted pursuant to section 442 of the District 
of Columbia Home Rule Act (D.C. Official Code, sec. 1– 
204.42). 
SEC. 813. (a) Amounts appropriated in this Act as 
operating funds may be transferred to the District of Co-
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lumbia’s enterprise and capital funds and such amounts, 
once transferred, shall retain appropriation authority con-
sistent with the provisions of this Act. 
(b) The District of Columbia government is author-
ized to reprogram or transfer for operating expenses any 
local funds transferred or reprogrammed in this or the 
four prior fiscal years from operating funds to capital 
funds, and such amounts, once transferred or repro-
grammed, shall retain appropriation authority consistent 
with the provisions of this Act. 
(c) The District of Columbia government may not 
transfer or reprogram for operating expenses any funds 
derived from bonds, notes, or other obligations issued for 
capital projects. 
SEC. 814. None of the Federal funds appropriated 
in this Act shall remain available for obligation beyond 
the current fiscal year, nor may any be transferred to 
other appropriations, unless expressly so provided herein. 
SEC. 815. Except as otherwise specifically provided 
by law or under this Act, not to exceed 50 percent of unob-
ligated balances remaining available at the end of fiscal 
year 2018 from appropriations of Federal funds made 
available for salaries and expenses for fiscal year 2018 in 
this Act, shall remain available through September 30, 
2019, for each such account for the purposes authorized: 
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Provided, That a request shall be submitted to the Com-
mittees on Appropriations of the House of Representatives 
and the Senate for approval prior to the expenditure of 
such funds: Provided further, That these requests shall be 
made in compliance with reprogramming guidelines out-
lined in section 803 of this Act. 
SEC. 816. (a)(1) During fiscal year 2019, during a 
period in which neither a District of Columbia continuing 
resolution or a regular District of Columbia appropriation 
bill is in effect, local funds are appropriated in the amount 
provided for any project or activity for which local funds 
are provided in the Act referred to in paragraph (2) (sub-
ject to any modifications enacted by the District of Colum-
bia as of the beginning of the period during which this 
subsection is in effect) at the rate set forth by such Act. 
(2) The Act referred to in this paragraph is the Act 
of the Council of the District of Columbia pursuant to 
which a proposed budget is approved for fiscal year 2019 
which (subject to the requirements of the District of Co-
lumbia Home Rule Act) will constitute the local portion 
of the annual budget for the District of Columbia govern-
ment for fiscal year 2019 for purposes of section 446 of 
the District of Columbia Home Rule Act (sec. 1–204.46, 
D.C. Official Code). 
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(b) Appropriations made by subsection (a) shall cease 
to be available— 
(1) during any period in which a District of Co-
lumbia continuing resolution for fiscal year 2019 is 
in effect; or 
(2) upon the enactment into law of the regular 
District of Columbia appropriation bill for fiscal year 
2019. 
(c) An appropriation made by subsection (a) is pro-
vided under the authority and conditions as provided 
under this Act and shall be available to the extent and 
in the manner that would be provided by this Act. 
(d) An appropriation made by subsection (a) shall 
cover all obligations or expenditures incurred for such 
project or activity during the portion of fiscal year 2019 
for which this section applies to such project or activity. 
(e) This section shall not apply to a project or activity 
during any period of fiscal year 2019 if any other provi-
sion of law (other than an authorization of appropria-
tions)— 
(1) makes an appropriation, makes funds avail-
able, or grants authority for such project or activity 
to continue for such period; or 
(2) specifically provides that no appropriation 
shall be made, no funds shall be made available, or 
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no authority shall be granted for such project or ac-
tivity to continue for such period. 
(f) Nothing in this section shall be construed to affect 
obligations of the government of the District of Columbia 
mandated by other law. 
SEC. 817. (a) Effective with respect to fiscal year 
2013 and each succeeding fiscal year, the Local Budget 
Autonomy Amendment Act of 2012 (D.C. Law 19–321) 
is hereby repealed, and any provision of law amended or 
repealed by such Act shall be restored or revived as if such 
Act had not been enacted into law. 
(b)(1) Section 450 of the District of Columbia Home 
Rule Act (sec. 1–204.50, D.C. Official Code) is amend-
ed— 
(A) in the first sentence, by striking ‘‘The Gen-
eral Fund’’ and inserting ‘‘(a) IN GENERAL.—The 
General Fund’’; and 
(B) by adding at the end the following new sub-
section: 
‘‘(b) APPLICATION
OF FEDERAL APPROPRIATIONS 
PROCESS.—Nothing in this Act shall be construed as cre-
ating a continuing appropriation of the General Fund de-
scribed in subsection (a). All funds provided for the Dis-
trict of Columbia shall be appropriated on an annual fiscal 
year basis through the Federal appropriations process. 
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For each fiscal year, the District shall be subject to all 
applicable requirements of subchapter III of chapter 13 
and subchapter II of chapter 15 of title 31, United States 
Code (commonly known as the ‘Anti-Deficiency Act’), the 
Budget and Accounting Act of 1921, and all other require-
ments and restrictions applicable to appropriations for 
such fiscal year.’’. 
(2) Section 603(a) of such Act (sec. 1–206.03(a), 
D.C. Official Code) is amended— 
(A) by striking ‘‘existing’’; and 
(B) by striking the period at the end and in-
serting the following: ‘‘, or as authorizing the Dis-
trict of Columbia to make any such change.’’. 
(3) The amendments made by this subsection shall 
take effect as if included in the enactment of the District 
of Columbia Home Rule Act. 
SEC. 818. (a) No funds available for obligation or ex-
penditure by the District of Columbia government under 
any authority may be used to enact any act, resolution, 
rule, regulation, guidance, or other law to permit any per-
son to carry out any activity, or to reduce the penalties 
imposed with respect to any activity, to which subsection 
(a) of section 3 of the Assisted Suicide Funding Restric-
tion Act of 1997 (42 U.S.C. 14402) applies (taking into 
consideration subsection (b) of such section). 
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(b) Effective February 18, 2017, the Death With 
Dignity Act of 2016 (D.C. Law 21–182) is hereby re-
pealed. 
SEC. 819. Except as expressly provided otherwise, 
any reference to ‘‘this Act’’ contained in this title or in 
title IV shall be treated as referring only to the provisions 
of this title or of title IV. 
TITLE IX—OTHER MATTERS 
SEC. 901. TABLE OF CONTENTS. 
The table of contents for this title is as follows: 
Sec. 901. Table of contents. 
Sec. 902. Directed rulemaking repeals. 
Sec. 903. Repeal and modification of provisions of the Financial Stability Act 
of 2010. 
Sec. 904. Bringing the Federal Deposit Insurance Corporation into the appro-
priations process. 
Sec. 905. Bringing the Federal Housing Finance Agency into the appropria-
tions process. 
Sec. 906. Bringing the Office of the Comptroller of the Currency into the ap-
propriations process. 
Sec. 907. Bringing the non-monetary policy related functions of the Board of 
Governors of the Federal Reserve System into the appropria-
tions process. 
Sec. 908. Increased threshold for disclosures relating to compensatory benefit 
plans. 
Sec. 909. Refunding or crediting overpayment of section 31 fees. 
Sec. 910. Safe harbor for investment fund research. 
Sec. 911. Annual review of government-business forum on capital formation. 
Sec. 912. Helping Angles Lead Our Startups. 
Sec. 913. Investor limitation for qualifying venture capital funds. 
Sec. 914. Manufactured Housing. 
Sec. 915. Requirements for deposit account termination requests and orders. 
Sec. 916. Amendments to the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989. 
Sec. 917. Safe harbor for certain loans held on portfolio. 
Sec. 918. Changes required to small bank holding company policy statement on 
assessment of financial and managerial factors. 
Sec. 919. Community financial institution mortgage relief. 
Sec. 920. Regulations appropriate to business models. 
Sec. 921. Eliminating barriers to jobs for loan originators. 
Sec. 922. Small business loan data collection requirement. 
Sec. 923. Depository institutions subject to maintenance of records and disclo-
sure requirements. 
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Sec. 924. Rate of interest after transfer of loan. 
Sec. 925. Bringing the Bureau into the regular appropriations process. 
Sec. 926. Elimination of supervision authority. 
Sec. 927. Removal of authority to regulate small-dollar credit. 
Sec. 928. Removal of Bureau UDAAP authority. 
Sec. 929. Repeal of authority to restrict arbitration. 
Sec. 930. Exemption from risk retention requirements for nonresidential mort-
gage. 
Sec. 931. Prohibition on requiring a single ballot. 
Sec. 932. Repeal of the Volcker Rule and other provisions. 
SEC. 902. DIRECTED RULEMAKING REPEALS. 
With respect to any directed rulemaking required by 
a provision of law repealed by this title, to the extent any 
rule was issued or revised pursuant to such directed rule-
making, such rule or revision shall have no force or effect. 
SEC. 903. REPEAL AND MODIFICATION OF PROVISIONS OF 
THE FINANCIAL STABILITY ACT OF 2010. 
(a) REPEALS.—The following provisions of the Fi-
nancial Stability Act of 2010 are repealed, and the provi-
sions of law amended or repealed by such provisions are 
restored or revived as if such provisions had not been en-
acted: 
(1) Subtitle B. 
(2) Section 113. 
(3) Section 114. 
(4) Section 115. 
(5) Section 116. 
(6) Section 117. 
(7) Section 119. 
(8) Section 120. 
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(9) Section 121. 
(10) Section 161. 
(11) Section 162. 
(12) Section 164. 
(13) Section 166. 
(14) Section 167. 
(15) Section 168. 
(16) Section 170. 
(17) Section 172. 
(18) Section 174. 
(19) Section 175. 
(b) ADDITIONAL MODIFICATIONS.—The Financial 
Stability Act of 2010 (12 U.S.C. 5311 et seq.) is amend-
ed— 
(1) in section 102(a), by striking paragraph 
(5); 
(2) in section 111— 
(A) in subsection (b)— 
(i) in paragraph (1)— 
(I) by striking ‘‘who shall each’’ 
and inserting ‘‘who shall, except as 
provided below, each’’; and 
(II) by striking subparagraphs 
(B) through (I) and inserting the fol-
lowing: 
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‘‘(B) each member of the Board of Gov-
ernors, who shall collectively have 1 vote on the 
Council; 
‘‘(C) the Comptroller of the Currency; 
‘‘(D) the Director of the Bureau; 
‘‘(E) each member of the Commission, who 
shall collectively have 1 vote on the Council; 
‘‘(F) each member of the Corporation, who 
shall collectively have 1 vote on the Council; 
‘‘(G) each member of the Commodity Fu-
tures Trading Commission, who shall collec-
tively have 1 vote on the Council; 
‘‘(H) the Director of the Federal Housing 
Finance Agency; 
‘‘(I) each member of the National Credit 
Union Administration Board, who shall collec-
tively have 1 vote on the Council; and’’; 
(ii) in paragraph (2)— 
(I) by striking subparagraph (A); 
and 
(II) by redesignating subpara-
graphs (B), (C), (D), and (E) as sub-
paragraphs (A), (B), (C), and (D), re-
spectively; and 
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(iii) by adding at the end the fol-
lowing: 
‘‘(4) VOTING BY MULTI-PERSON ENTITY.— 
‘‘(A) VOTING
WITHIN
THE
ENTITY.—An 
entity described under subparagraph (B), (E), 
(F), (G), or (I) of paragraph (1) shall deter-
mine the entity’s Council vote by using the vot-
ing process normally applicable to votes by the 
entity’s members. 
‘‘(B) CASTING OF ENTITY VOTE.—The 1 
collective Council vote of an entity described 
under subparagraph (A) shall be cast by the 
head of such agency or, in the event such head 
is unable to cast such vote, the next most senior 
member of the entity available.’’; 
(B) in subsection (c)(1), by striking ‘‘The 
independent member of the Council shall serve 
for a term of 6 years, and each nonvoting mem-
ber described in subparagraphs (C), (D), and 
(E) of’’ and inserting ‘‘Each nonvoting mem-
bers described under’’; 
(C) in subsection (e), by adding at the end 
the following: 
‘‘(3) STAFF
ACCESS.—Any member of the 
Council may select to have one or more individuals 
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on the member’s staff attend a meeting of the Coun-
cil, including any meeting of representatives of the 
member agencies other than the members them-
selves. 
‘‘(4) CONGRESSIONAL OVERSIGHT.—All public 
meetings of the Council shall be open to the attend-
ance by members of the authorization and oversight 
committees of the House of Representatives and the 
Senate. 
‘‘(5) TRANSCRIPTION REQUIREMENT FOR NON- 
PUBLIC MEETINGS.—The Council shall create and 
preserve transcripts for all non-public meetings of 
the Council. 
‘‘(6) MEMBER AGENCY MEETINGS.—Any meet-
ing of representatives of the member agencies other 
than the members themselves shall be open to at-
tendance by staff of the authorization and oversight 
committees of the House of Representatives and the 
Senate.’’; 
(D) by striking subsection (g) (relating to 
the nonapplicability of FACA); 
(E) by inserting after subsection (f) the 
following: 
‘‘(g) OPEN MEETING REQUIREMENT.—The Council 
shall be an agency for purposes of section 552b of title 
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5, United States Code (commonly referred to as the ‘Gov-
ernment in the Sunshine Act’). 
‘‘(h) CONFIDENTIAL CONGRESSIONAL BRIEFINGS.— 
The Chairperson shall at regular times but not less than 
annually provide confidential briefings to the Committee 
on Financial Services of the House of Representatives and 
the Committee on Banking, Housing, and Urban Affairs 
of the Senate, which may in the discretion of the Chair-
man of the respective committee be attended by any com-
bination of the committee’s members or staff.’’; and 
(F) 
by 
redesignating 
subsections 
(h) 
through (j) as subsections (i) through (k), re-
spectively; 
(3) in section 112— 
(A) in subsection (a)(2)— 
(i) in subparagraph (A), by striking 
‘‘direct the Office of Financial Research 
to’’; 
(ii) by striking subparagraphs (B), 
(H), and (I); 
(iii) by redesignating subparagraphs 
(C), (D), (E), (F), (G), (J), (K), (L), (M), 
and (N) as subparagraphs (B), (C), (D), 
(E), (F), (G), (H), (I), (J), and (K), re-
spectively; 
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(iv) in subparagraph (K), as so redes-
ignated— 
(I) in clause (iii), by adding 
‘‘and’’ at the end; 
(II) by striking clauses (iv) and 
(v); and 
(III) by redesignating clause (vi) 
as clause (iv); and 
(B) in subsection (d)— 
(i) in paragraph (1), by striking ‘‘the 
Office of Financial Research, member 
agencies,’’ and inserting ‘‘member agen-
cies’’; 
(ii) in paragraph (2), by striking ‘‘the 
Office of Financial Research, any member 
agency,’’ and inserting ‘‘member agencies’’; 
(iii) in paragraph (3)— 
(I) by striking ‘‘, acting through 
the Office of Financial Research,’’ 
each place it appears; and 
(II) in subparagraph (B), by 
striking ‘‘the Office of Financial Re-
search or’’; and 
(iv) in paragraph (5)(A), by striking 
‘‘, the Office of Financial Research,’’; 
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(4) by amending section 118 to read as follows: 
‘‘SEC. 118. COUNCIL FUNDING. 
‘‘There is authorized to be appropriated to the Coun-
cil $4,000,000 for fiscal year 2018 and each fiscal year 
thereafter to carry out the duties of the Council.’’; 
(5) in section 163— 
(A) by striking subsection (a); 
(B) by redesignating subsection (b) as sub-
section (a); and 
(C) in subsection (a), as so redesignated, 
by striking ‘‘or a nonbank financial company 
supervised by the Board of Governors’’ each 
place such term appears; 
(6) in section 165— 
(A) by striking ‘‘nonbank financial compa-
nies supervised by the Board of Governors and’’ 
each place such term appears; 
(B) by striking ‘‘nonbank financial com-
pany supervised by the Board of Governors 
and’’ each place such term appears; 
(C) in subsection (a), by amending para-
graph (2) to read as follows: 
‘‘(2) TAILORED APPLICATION.—In prescribing 
more stringent prudential standards under this sec-
tion, the Board of Governors may differentiate 
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among companies on an individual basis or by cat-
egory, taking into consideration their capital struc-
ture, riskiness, complexity, financial activities (in-
cluding the financial activities of their subsidiaries), 
size, and any other risk-related factors that the 
Board of Governors deems appropriate.’’; 
(D) in subsection (b)— 
(i) in paragraph (1)(B)(iv), by strik-
ing ‘‘, on its own or pursuant to a rec-
ommendation made by the Council in ac-
cordance with section 115,’’; 
(ii) in paragraph (2)— 
(I) by striking ‘‘foreign nonbank 
financial company supervised by the 
Board of Governors or’’; 
(II) by striking ‘‘shall—’’ and all 
that follows through ‘‘give due’’ and 
inserting ‘‘shall give due’’; 
(III) in subparagraph (A), by 
striking ‘‘; and’’ and inserting a pe-
riod; and 
(IV) by striking subparagraph 
(B); 
(iii) in paragraph (3)— 
(I) in subparagraph (A)— 
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(aa) by striking clause (i); 
(bb) 
by 
redesignating 
clauses (ii), (iii), and (iv) as 
clauses (i), (ii), and (iii), respec-
tively; and 
(cc) in clause (iii), as so re-
designated, by adding ‘‘and’’ at 
the end; 
(II) by striking subparagraphs 
(B) and (C); and 
(III) by redesignating subpara-
graph (D) as subparagraph (B); and 
(iv) in paragraph (4), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
(E) in subsection (c)— 
(i) in paragraph (1), by striking 
‘‘under section 115(c)’’; and 
(ii) in paragraph (2)— 
(I) by amending subparagraph 
(A) to read as follows: 
‘‘(A) any recommendations of the Coun-
cil;’’; and 
(II) in subparagraph (D), by 
striking ‘‘nonbank financial company 
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supervised by the Board of Governors 
or’’; 
(F) in subsection (d)— 
(i) by striking ‘‘a nonbank financial 
company supervised by the Board of Gov-
ernors or’’ each place such term appears; 
(ii) in paragraph (1), by striking ‘‘pe-
riodically’’ and inserting ‘‘not more often 
than every 2 years’’; 
(iii) in paragraph (3)— 
(I) by striking ‘‘The Board’’ and 
inserting the following: 
‘‘(A) IN GENERAL.—The Board’’; 
(II) by striking ‘‘shall review’’ 
and inserting the following: ‘‘shall— 
‘‘(i) review’’; 
(III) by striking the period and 
inserting ‘‘; and’’; and 
(IV) by adding at the end the fol-
lowing: 
‘‘(ii) not later than the end of the 6- 
month period beginning on the date the 
bank holding company submits the resolu-
tion plan, provide feedback to the bank 
holding company on such plan. 
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‘‘(B) 
DISCLOSURE
OF
ASSESSMENT 
FRAMEWORK.—The Board of Governors shall 
publicly disclose, including on the website of the 
Board of Governors, the assessment framework 
that is used to review information under this 
paragraph and shall provide the public with a 
notice and comment period before finalizing 
such assessment framework.’’. 
(iv) in paragraph (6), by striking 
‘‘nonbank financial company supervised by 
the Board, any bank holding company,’’ 
and inserting ‘‘bank holding company’’; 
(G) in subsection (e)— 
(i) in paragraph (1), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
(ii) in paragraph (3), by striking ‘‘the 
nonbank financial company supervised by 
the Board of Governors or’’ each place 
such term appears; and 
(iii) in paragraph (4), by striking ‘‘a 
nonbank financial company supervised by 
the Board of Governors or’’; 
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(H) in subsection (g)(1), by striking ‘‘and 
any nonbank financial company supervised by 
the Board of Governors’’; 
(I) in subsection (h)— 
(i) by striking paragraph (1); 
(ii) by redesignating paragraphs (2), 
(3), and (4) as paragraphs (1), (2), and 
(3), respectively; 
(iii) in paragraph (1), as so redesig-
nated, by striking ‘‘paragraph (3)’’ each 
place such term appears and inserting 
‘‘paragraph (2)’’; and 
(iv) in paragraph (2), as so redesig-
nated— 
(I) in subparagraph (A), by strik-
ing ‘‘the nonbank financial company 
supervised by the Board of Governors 
or bank holding company described in 
subsection (a), as applicable’’ and in-
serting ‘‘a bank holding company de-
scribed in subsection (a)’’; and 
(II) in subparagraph (B), by 
striking ‘‘the nonbank financial com-
pany supervised by the Board of Gov-
ernors or a bank holding company de-
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scribed in subsection (a), as applica-
ble’’ and inserting ‘‘a bank holding 
company described in subsection (a)’’; 
(J) in subsection (i)— 
(i) in paragraph (1)— 
(I) in subparagraph (A), by strik-
ing ‘‘, in coordination with the appro-
priate primary financial regulatory 
agencies and the Federal Insurance 
Office,’’; 
(II) in subparagraph (B)— 
(aa) by amending clause (i) 
to read as follows: 
‘‘(i) shall— 
‘‘(I) issue regulations, after pro-
viding for public notice and comment, 
that provide for at least 3 different 
sets of conditions under which the 
evaluation required by this subsection 
shall be conducted, including baseline, 
adverse, and severely adverse, and 
methodologies, including models used 
to estimate losses on certain assets, 
and the Board of Governors shall not 
carry out any such evaluation until 60 
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days after such regulations are issued; 
and 
‘‘(II) provide copies of such regu-
lations to the Comptroller General of 
the United States and the Panel of 
Economic Advisors of the Congres-
sional Budget Office before publishing 
such regulations;’’; 
(bb) in clause (ii), by strik-
ing ‘‘and nonbank financial com-
panies’’; 
(cc) in clause (iv), by strik-
ing ‘‘and’’ at the end; 
(dd) in clause (v), by strik-
ing the period and inserting the 
following: ‘‘, including any results 
of a resubmitted test;’’; and 
(ee) by adding at the end 
the following: 
‘‘(vi) shall, in establishing the severely 
adverse condition under clause (i), provide 
detailed consideration of the model’s ef-
fects on financial stability and the cost and 
availability of credit; 
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‘‘(vii) shall, in developing the models 
and methodologies and providing them for 
notice and comment under this subpara-
graph, publish a process to test the models 
and methodologies for their potential to 
magnify systemic and institutional risks in-
stead of facilitating increased resiliency; 
‘‘(viii) shall design and publish a proc-
ess to test and document the sensitivity 
and uncertainty associated with the model 
system’s data quality, specifications, and 
assumptions; and 
‘‘(ix) shall communicate the range and 
sources of uncertainty surrounding the 
models and methodologies.’’; and 
(III) by adding at the end the 
following: 
‘‘(C) CCAR REQUIREMENTS.— 
‘‘(i) 
PARAMETERS
AND
CON-
SEQUENCES
APPLICABLE
TO
CCAR.—The 
requirements of subparagraph (B) shall 
apply to CCAR. 
‘‘(ii) 
TWO-YEAR
LIMITATION.—The 
Board of Governors may not subject a 
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company to CCAR more than once every 
two years. 
‘‘(iii) MID-CYCLE
RESUBMISSION.—If 
a company receives a quantitative objection 
to, or otherwise desires to amend the com-
pany’s capital plan, the company may file 
a new streamlined plan at any time after 
a capital planning exercise has been com-
pleted and before a subsequent capital 
planning exercise. 
‘‘(iv) LIMITATION
ON
QUALITATIVE 
CAPITAL PLANNING OBJECTIONS.—In car-
rying out CCAR, the Board of Governors 
may not object to a company’s capital plan 
on the basis of qualitative deficiencies in 
the company’s capital planning process. 
‘‘(v) 
COMPANY
INQUIRIES.—The 
Board of Governors shall establish and 
publish procedures for responding to in-
quiries from companies subject to CCAR, 
including establishing the time frame in 
which such responses will be made, and 
make such procedures publicly available. 
‘‘(vi) CCAR DEFINED.—For purposes 
of this subparagraph and subparagraph 
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(E), the term ‘CCAR’ means the Com-
prehensive Capital Analysis and Review es-
tablished by the Board of Governors.’’; 
(ii) in paragraph (2)— 
(I) in subparagraph (A)— 
(aa) by striking ‘‘a bank 
holding company’’ and inserting 
‘‘bank holding company’’; 
(bb) 
by 
striking 
‘‘semi-
annual’’ and inserting ‘‘annual’’; 
(cc) by striking ‘‘All other 
financial companies’’ and insert-
ing ‘‘All other bank holding com-
panies’’; and 
(dd) by striking ‘‘and are 
regulated by a primary Federal 
financial regulatory agency’’; 
(II) in subparagraph (B)— 
(aa) by striking ‘‘and to its 
primary 
financial 
regulatory 
agency’’; and 
(bb) by striking ‘‘primary fi-
nancial regulatory agency’’ the 
second time it appears and in-
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serting ‘‘Board of Governors’’; 
and 
(III) in subparagraph (C)— 
(aa) by striking ‘‘Each Fed-
eral primary financial regulatory 
agency, in coordination with the 
Board of Governors and the Fed-
eral Insurance Office,’’ and in-
serting ‘‘The Board of Gov-
ernors’’; and 
(bb) by striking ‘‘consistent 
and comparable’’; 
(K) in subsection (j)— 
(i) in paragraph (1), by striking ‘‘or a 
nonbank financial company supervised by 
the Board of Governors’’; and 
(ii) in paragraph (2), by striking ‘‘the 
factors described in subsections (a) and (b) 
of section 113 and any other’’ and insert-
ing ‘‘any’’; and 
(L) in subsection (k)(1), by striking ‘‘or 
nonbank financial company supervised by the 
Board of Governors’’. 
(c) TREATMENT OF OTHER RESOLUTION PLAN RE-
QUIREMENTS.— 
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(1) IN GENERAL.—With respect to an appro-
priate Federal banking agency that requires a bank-
ing organization to submit to the agency a resolution 
plan not described under section 165(d) of the 
Dodd-Frank Wall Street Reform and Consumer Pro-
tection Act— 
(A) the agency shall comply with the re-
quirements of paragraphs (3) and (4) of such 
section 165(d); 
(B) the agency may not require the sub-
mission of such a resolution plan more often 
than every 2 years; and 
(C) paragraphs (6) and (7) of such section 
165(d) shall apply to such a resolution plan. 
(2) DEFINITIONS.—For purposes of this sub-
section, the terms ‘‘appropriate Federal banking 
agency’’ and ‘‘banking organization’’ have the mean-
ing given those terms, respectively, under section 
105. 
(d) ACTIONS TO CREATE A BANK HOLDING COM-
PANY.—Section 3(b)(1) of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1842(b)(1)) is amended— 
(1) by striking ‘‘Upon receiving’’ and inserting 
the following: 
‘‘(A) IN GENERAL.—Upon receiving’’; 
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(2) by striking ‘‘Notwithstanding any other pro-
vision’’ and inserting the following: 
‘‘(B) IMMEDIATE ACTION.— 
‘‘(i) IN
GENERAL.—Notwithstanding 
any other provision’’; and 
(3) by adding at the end the following: 
‘‘(ii) EXCEPTION.—The Board may 
not take any action pursuant to clause (i) 
on an application that would cause any 
company to become a bank holding com-
pany unless such application involves the 
company acquiring a bank that is critically 
undercapitalized (as such term is defined 
under section 38(b) of the Federal Deposit 
Insurance Act).’’. 
(e) CONCENTRATION LIMITS APPLIED ONLY
TO 
BANKING ORGANIZATIONS.—Section 14 of the Bank 
Holding Company Act of 1956 (12 U.S.C. 1852) is 
amended— 
(1) by striking ‘‘financial company’’ each place 
such term appears and inserting ‘‘banking organiza-
tion’’; 
(2) in subsection (a)— 
(A) by amending paragraph (2) to read as 
follows: 
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116, 117, 119, 120, 121, 161, 162, 164, 166, 167, 168, 
170, 172, 174, and 175. 
SEC. 904. BRINGING THE FEDERAL DEPOSIT INSURANCE 
CORPORATION INTO THE APPROPRIATIONS 
PROCESS. 
(a) IN GENERAL.—Section 10(a) of the Federal De-
posit Insurance Act (12 U.S.C. 1820(a)) is amended— 
(1) by striking ‘‘(a) The’’ and inserting the fol-
lowing: 
‘‘(a) POWERS.— 
‘‘(1) IN GENERAL.—The’’; 
(2) by inserting ‘‘, subject to paragraph (2),’’ 
after ‘‘The Board of Directors of the Corporation’’; 
and 
(3) by adding at the end the following new 
paragraph: 
‘‘(2) APPROPRIATIONS REQUIREMENT.—Except 
as provided under paragraph (3), the Corporation 
may, only to the extent as provided in advance by 
appropriations Acts, cover the costs incurred in car-
rying out the provisions of this Act, including with 
respect to the administrative costs of the Corpora-
tion and the costs of the examination and super-
vision of insured depository institutions. 
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‘‘(3) EXCEPTION
FOR
CERTAIN
PROGRAMS.— 
Paragraph (2) shall not apply to the Corporation’s 
Insurance Business Line Programs and Receivership 
Management Business Line Programs, as in exist-
ence on the date of enactment of this paragraph, 
and the proportion of the administrative costs of the 
Corporation related to such programs.’’. 
(b) EXAMINATION FEES.—Section 10(e)(1) of the 
Federal Deposit Insurance Act (12 U.S.C. 1820(e)(1)) is 
amended by striking ‘‘to meet the expenses of the Cor-
poration in carrying out such examinations’’ and inserting 
‘‘and may be expended by the Board only to the extent 
as provided in advance by appropriations Acts to cover the 
costs incurred in carrying out such examinations’’. 
(c) OFFSET OF ADDITIONAL FEES.—The Federal 
Deposit Insurance Corporation shall reduce the amount 
of insurance premiums charged by the Corporation under 
the Federal Deposit Insurance Act in an amount equal 
to any additional fees charged by the Corporation by rea-
son of the amendments made by this section. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply with respect to expenses paid and 
fees collected on or after October 1, 2018. 
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SEC. 905. BRINGING THE FEDERAL HOUSING FINANCE 
AGENCY INTO THE APPROPRIATIONS PROC-
ESS. 
(a) IN GENERAL.—Section 1316 of the Housing and 
Community Development Act of 1992 (12 U.S.C. 4516) 
is amended— 
(1) by amending subsection (a) to read as fol-
lows: 
‘‘(a) APPROPRIATIONS REQUIREMENT.— 
‘‘(1) RECOVERY OF COSTS OF ANNUAL APPRO-
PRIATION.—The Agency shall collect assessments 
and other fees that are designed to recover the costs 
to the Government of the annual appropriation to 
the Agency by Congress. 
‘‘(2) OFFSETTING COLLECTIONS.—Assessments 
and other fees described under paragraph (1) for 
any fiscal year— 
‘‘(A) shall be deposited and credited as off-
setting collections to the account providing ap-
propriations to the Agency; and 
‘‘(B) shall not be collected for any fiscal 
year except to the extent provided in advance in 
appropriation Acts.’’; and 
(2) by striking subsection (f). 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply with respect to expenses paid and 
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assessments and other fees collected on or after October 
1, 2018. 
SEC. 906. BRINGING THE OFFICE OF THE COMPTROLLER 
OF THE CURRENCY INTO THE APPROPRIA-
TIONS PROCESS. 
(a) IN GENERAL.—Section 5240A of the Revised 
Statutes of the United States (12 U.S.C. 16) is amend-
ed— 
(1) by striking ‘‘Sec. 5240A. The Comptroller 
of the Currency may collect an assessment, fee, or 
other charge from any entity described in section 
3(q)(1) of the Federal Deposit Insurance Act (12 
U.S.C. 1813(q)(1)), as the Comptroller determines 
is necessary or appropriate to carry out the respon-
sibilities of the Office of the Comptroller of the Cur-
rency. In establishing the amount of an assessment, 
fee, or charge collected from an entity under this 
section,’’ and inserting the following: 
‘‘SEC. 5240A. COLLECTION OF FEES; APPROPRIATIONS RE-
QUIREMENT. 
‘‘(a) IN GENERAL.—In establishing the amount of an 
assessment, fee, or charge collected from an entity under 
subsection (b),’’; 
(2) by striking ‘‘Funds derived’’ and all that 
follows through the end of the section; and 
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(3) by adding at the end the following: 
‘‘(b) APPROPRIATIONS REQUIREMENT.— 
‘‘(1) RECOVERY OF COSTS OF ANNUAL APPRO-
PRIATION.—The Comptroller of the Currency shall 
impose and collect assessments, fees, or other 
charges that are designed to recover the costs to the 
Government of the annual appropriation to the Of-
fice of the Comptroller of the Currency by Congress. 
‘‘(2) OFFSETTING COLLECTIONS.—Assessments 
and other fees described under paragraph (1) for 
any fiscal year— 
‘‘(A) shall be deposited and credited as off-
setting collections to the account providing ap-
propriations to the Office of the Comptroller of 
the Currency; and 
‘‘(B) shall not be collected for any fiscal 
year except to the extent provided in advance in 
appropriation Acts.’’. 
(b) CONFORMING AMENDMENT.—Section 5240 (12 
U.S.C. 481 et seq.) of the Revised Statutes of the United 
States is amended by striking the fourth undesignated 
paragraph. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply with respect to expenses paid and 
fees collected on or after October 1, 2018. 
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SEC. 907. BRINGING THE NON-MONETARY POLICY RELATED 
FUNCTIONS OF THE BOARD OF GOVERNORS 
OF THE FEDERAL RESERVE SYSTEM INTO 
THE APPROPRIATIONS PROCESS. 
(a) IN GENERAL.—The Federal Reserve Act is 
amended by inserting after section 11B the following: 
‘‘SEC. 11C. APPROPRIATIONS REQUIREMENT FOR NON- 
MONETARY POLICY RELATED ADMINISTRA-
TIVE COSTS. 
‘‘(a) APPROPRIATIONS REQUIREMENT.— 
‘‘(1) RECOVERY OF COSTS OF ANNUAL APPRO-
PRIATION.—The Board of Governors of the Federal 
Reserve System and the Federal reserve banks shall 
collect assessments and other fees, as provided under 
this Act, that are designed to recover the costs to 
the Government of the annual appropriation to the 
Board of Governors of the Federal Reserve System 
by Congress. The Board of Governors of the Federal 
Reserve System and the Federal reserve banks may 
only incur obligations or allow and pay expenses 
with respect to non-monetary policy related adminis-
trative costs pursuant to an appropriations Act. 
‘‘(2) OFFSETTING COLLECTIONS.—Assessments 
and other fees described under paragraph (1) for 
any fiscal year— 
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‘‘(A) shall be deposited and credited as off-
setting collections to the account providing ap-
propriations to the Board of Governors of the 
Federal Reserve System; and 
‘‘(B) shall not be collected for any fiscal 
year except to the extent provided in advance in 
appropriation Acts. 
‘‘(3) LIMITATION.—This subsection shall only 
apply to the non-monetary policy related administra-
tive costs of the Board of Governors of the Federal 
Reserve System. 
‘‘(b) DEFINITIONS.—For purposes of this section: 
‘‘(1) MONETARY POLICY.—The term ‘monetary 
policy’ means a strategy for producing a generally 
acceptable exchange medium that supports the pro-
ductive employment of economic resources by reli-
ably serving as both a unit of account and store of 
value. 
‘‘(2) NON-MONETARY POLICY RELATED ADMIN-
ISTRATIVE COSTS.—The term ‘non-monetary policy 
related administrative costs’ means administrative 
costs not related to the conduct of monetary policy, 
and includes— 
‘‘(A) direct operating expenses for super-
vising and regulating entities supervised and 
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regulated by the Board of Governors of the 
Federal Reserve System, including conducting 
examinations, conducting stress tests, commu-
nicating with the entities regarding supervisory 
matters and laws, and regulations; 
‘‘(B) operating expenses for activities inte-
gral to carrying out supervisory and regulatory 
responsibilities, such as training staff in the su-
pervisory function, research and analysis func-
tions including library subscription services, and 
collecting and processing regulatory reports 
filed by supervised institutions; and 
‘‘(C) support, overhead, and pension ex-
penses related to the items described under sub-
paragraphs (A) and (B).’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply with respect to expenses paid and 
fees collected on or after October 1, 2018. 
SEC. 908. INCREASED THRESHOLD FOR DISCLOSURES RE-
LATING TO COMPENSATORY BENEFIT PLANS. 
Not later than 60 days after the date of the enact-
ment of this Act, the Securities and Exchange Commission 
shall revise section 230.701(e) of title 17, Code of Federal 
Regulations, so as to increase from $5,000,000 to 
$20,000,000 the aggregate sales price or amount of secu-
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rities sold during any consecutive 12-month period in ex-
cess of which the issuer is required under such section to 
deliver an additional disclosure to investors. The Commis-
sion shall index for inflation such aggregate sales price 
or amount every 5 years to reflect the change in the Con-
sumer Price Index for All Urban Consumers published by 
the Bureau of Labor Statistics, rounding to the nearest 
$1,000,000. 
SEC. 909. REFUNDING OR CREDITING OVERPAYMENT OF 
SECTION 31 FEES. 
(a) IN GENERAL.—Section 31 of the Securities Ex-
change Act of 1934 (15 U.S.C. 78ee) is amended by add-
ing at the end the following: 
‘‘(n) OVERPAYMENT.—If a national securities ex-
change or national securities association pays to the Com-
mission an amount in excess of fees and assessments due 
under this section and informs the Commission of such 
amount paid in excess within 10 years of the date of the 
payment, the Commission shall offset future fees and as-
sessments due by such exchange or association in an 
amount equal to such excess amount.’’. 
(b) APPLICABILITY.—The amendment made by this 
section shall apply to any fees and assessments paid be-
fore, on, or after the date of enactment of this section. 
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SEC. 910. SAFE HARBOR FOR INVESTMENT FUND RE-
SEARCH. 
(a) EXPANSION OF THE SAFE HARBOR.—Not later 
than the end of the 45-day period beginning on the date 
of enactment of this Act, the Securities and Exchange 
Commission shall propose, and not later than the end of 
the 120-day period beginning on such date, the Commis-
sion shall adopt, upon such terms, conditions, or require-
ments as the Commission may determine necessary or ap-
propriate in the public interest, for the protection of inves-
tors, and for the promotion of capital formation, revisions 
to section 230.139 of title 17, Code of Federal Regula-
tions, to provide that a covered investment fund research 
report that is published or distributed by a broker or deal-
er— 
(1) shall be deemed, for purposes of sections 
2(a)(10) and 5(c) of the Securities Act of 1933 (15 
U.S.C. 77b(a)(10), 77e(c)), not to constitute an 
offer for sale or an offer to sell a security that is the 
subject of an offering pursuant to a registration 
statement that is effective, even if the broker or 
dealer is participating or will participate in the reg-
istered offering of the covered investment fund’s se-
curities; and 
(2) shall be deemed to satisfy the conditions of 
subsection (a)(1) or (a)(2) of section 230.139 of title 
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17, Code of Federal Regulations, or any successor 
provisions, for purposes of the Commission’s rules 
and regulations under the Federal securities laws 
and the rules of any self-regulatory organization. 
(b) IMPLEMENTATION OF SAFE HARBOR.—In imple-
menting the safe harbor pursuant to subsection (a), the 
Commission shall— 
(1) not, in the case of a covered investment 
fund with a class of securities in substantially con-
tinuous distribution, condition the safe harbor on 
whether the broker’s or dealer’s publication or dis-
tribution of a covered investment fund research re-
port constitutes such broker’s or dealer’s initiation 
or reinitiation of research coverage on such covered 
investment fund or its securities; 
(2) not— 
(A) require the covered investment fund to 
have been registered as an investment company 
under the Investment Company Act of 1940 
(15 U.S.C. 80a–1 et seq.) or subject to the re-
porting requirements of section 13 or 15(d) of 
the Securities Exchange Act of 1934 (15 
U.S.C. 78m, 78o(d)) for any period exceeding 
the period of time referenced under paragraph 
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(a)(1)(i)(A)(1) of section 230.139 of title 17, 
Code of Federal Regulations; or 
(B) impose a minimum float provision ex-
ceeding 
that 
referenced 
in 
paragraph 
(a)(1)(i)(A)(1)(i) of section 230.139 of title 17, 
Code of Federal Regulations; 
(3) provide that a self-regulatory organization 
may not maintain or enforce any rule that would— 
(A) prohibit the ability of a member to 
publish or distribute a covered investment fund 
research report solely because the member is 
also participating in a registered offering or 
other distribution of any securities of such cov-
ered investment fund; or 
(B) prohibit the ability of a member to 
participate in a registered offering or other dis-
tribution of securities of a covered investment 
fund solely because the member has published 
or distributed a covered investment fund re-
search report about such covered investment 
fund or its securities; and 
(4) provide that a covered investment fund re-
search report shall not be subject to section 24(b) of 
the Investment Company Act of 1940 (15 U.S.C. 
80a–24(b)) or the rules and regulations thereunder, 
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except that such report may still be subject to such 
section and the rules and regulations thereunder to 
the extent that it is otherwise not subject to the con-
tent standards in the rules of any self-regulatory or-
ganization related to research reports, including 
those contained in the rules governing communica-
tions with the public regarding investment compa-
nies or substantially similar standards. 
(c) RULES OF CONSTRUCTION.—Nothing in this Act 
shall be construed as in any way limiting— 
(1) the applicability of the antifraud or 
antimanipulation provisions of the Federal securities 
laws and rules adopted thereunder to a covered in-
vestment fund research report, including section 17 
of the Securities Act of 1933 (15 U.S.C. 77q), sec-
tion 34(b) of the Investment Company Act of 1940 
(15 U.S.C. 80a–33), and sections 9 and 10 of the 
Securities Exchange Act of 1934 (15 U.S.C. 78i, 
78j); or 
(2) the authority of any self-regulatory organi-
zation to examine or supervise a member’s practices 
in connection with such member’s publication or dis-
tribution of a covered investment fund research re-
port for compliance with applicable provisions of the 
Federal securities laws or self-regulatory organiza-
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tion rules related to research reports, including those 
contained in rules governing communications with 
the public. 
(d) INTERIM EFFECTIVENESS OF SAFE HARBOR.— 
(1) IN GENERAL.—From and after the 120-day 
period beginning on the date of enactment of this 
Act, if the Commission has not adopted revisions to 
section 230.139 of title 17, Code of Federal Regula-
tions, as required by subsection (a), and until such 
time as the Commission has done so, a broker or 
dealer distributing or publishing a covered invest-
ment fund research report after such date shall be 
able to rely on the provisions of section 230.139 of 
title 17, Code of Federal Regulations, and the 
broker or dealer’s publication of such report shall be 
deemed to satisfy the conditions of subsection (a)(1) 
or (a)(2) of section 230.139 of title 17, Code of Fed-
eral Regulations, if the covered investment fund that 
is the subject of such report satisfies the reporting 
history requirements (without regard to Form S–3 
or Form F–3 eligibility) and minimum float provi-
sions of such subsections for purposes of the Com-
mission’s rules and regulations under the Federal 
securities laws and the rules of any self-regulatory 
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organization, as if revised and implemented in ac-
cordance with subsections (a) and (b). 
(2) STATUS OF COVERED INVESTMENT FUND.— 
After such period and until the Commission has 
adopted revisions to section 230.139 and FINRA 
has revised rule 2210, for purposes of subsection 
(c)(7)(O) of such rule, a covered investment fund 
shall be deemed to be a security that is listed on a 
national securities exchange and that is not subject 
to section 24(b) of the Investment Company Act of 
1940 (15 U.S.C. 80a–24(b)). Communications con-
cerning only covered investment funds that fall with-
in the scope of such section shall not be required to 
be filed with FINRA. 
(e) DEFINITIONS.—For purposes of this section: 
(1) The term ‘‘covered investment fund re-
search report’’ means a research report published or 
distributed by a broker or dealer about a covered in-
vestment fund or any securities issued by the cov-
ered investment fund, but not including a research 
report to the extent that it is published or distrib-
uted by the covered investment fund or any affiliate 
of the covered investment fund. 
(2) The term ‘‘covered investment fund’’ 
means— 
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(A) an investment company registered 
under, or that has filed an election to be treated 
as a business development company under, the 
Investment Company Act of 1940 and that has 
filed a registration statement under the Securi-
ties Act of 1933 for the public offering of a 
class of its securities, which registration state-
ment has been declared effective by the Com-
mission; and 
(B) a trust or other person— 
(i) issuing securities in an offering 
registered under the Securities Act of 1933 
and which class of securities is listed for 
trading on a national securities exchange; 
(ii) the assets of which consist pri-
marily of commodities, currencies, or deriv-
ative instruments that reference commod-
ities or currencies, or interests in the fore-
going; and 
(iii) that provides in its registration 
statement under the Securities Act of 1933 
that a class of its securities are purchased 
or redeemed, subject to conditions or limi-
tations, for a ratable share of its assets. 
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(3) The term ‘‘FINRA’’ means the Financial 
Industry Regulatory Authority. 
(4) The term ‘‘research report’’ has the mean-
ing given that term under section 2(a)(3) of the Se-
curities Act of 1933 (15 U.S.C. 77b(a)(3)), except 
that such term shall not include an oral communica-
tion. 
(5) The term ‘‘self-regulatory organization’’ has 
the meaning given to that term under section 
3(a)(26) of the Securities Exchange Act of 1934 (15 
U.S.C. 78c(a)(26)). 
SEC. 911. ANNUAL REVIEW OF GOVERNMENT-BUSINESS 
FORUM ON CAPITAL FORMATION. 
Section 503 of the Small Business Investment Incen-
tive Act of 1980 (15 U.S.C. 80c–1) is amended by adding 
at the end the following: 
‘‘(e) The Commission shall— 
‘‘(1) review the findings and recommendations 
of the forum; and 
‘‘(2) each time the forum submits a finding or 
recommendation to the Commission, promptly issue 
a public statement— 
‘‘(A) assessing the finding or recommenda-
tion of the forum; and 
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‘‘(B) disclosing the action, if any, the Com-
mission intends to take with respect to the find-
ing or recommendation.’’. 
SEC. 912. HELPING ANGLES LEAD OUR STARTUPS. 
(a) DEFINITION OF ANGEL INVESTOR GROUP.—As 
used in this subtitle, the term ‘‘angel investor group’’ 
means any group that— 
(1) is composed of accredited investors inter-
ested in investing personal capital in early-stage 
companies; 
(2) holds regular meetings and has defined 
processes and procedures for making investment de-
cisions, either individually or among the membership 
of the group as a whole; and 
(3) is neither associated nor affiliated with bro-
kers, dealers, or investment advisers. 
(b) CLARIFICATION OF GENERAL SOLICITATION.— 
(1) IN
GENERAL.—Not later than 6 months 
after the date of enactment of this Act, the Securi-
ties and Exchange Commission shall revise Regula-
tion D of its rules (17 CFR 230.500 et seq.) to re-
quire that in carrying out the prohibition against 
general solicitation or general advertising contained 
in section 230.502(c) of title 17, Code of Federal 
Regulations, the prohibition shall not apply to a 
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presentation or other communication made by or on 
behalf of an issuer which is made at an event— 
(A) sponsored by— 
(i) the United States or any territory 
thereof, by the District of Columbia, by 
any State, by a political subdivision of any 
State or territory, or by any agency or 
public instrumentality of any of the fore-
going; 
(ii) a college, university, or other in-
stitution of higher education; 
(iii) a nonprofit organization; 
(iv) an angel investor group; 
(v) a venture forum, venture capital 
association, or trade association; or 
(vi) any other group, person or entity 
as the Securities and Exchange Commis-
sion may determine by rule; 
(B) where any advertising for the event 
does not reference any specific offering of secu-
rities by the issuer; 
(C) the sponsor of which— 
(i) does not make investment rec-
ommendations or provide investment ad-
vice to event attendees; 
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(ii) does not engage in an active role 
in any investment negotiations between the 
issuer and investors attending the event; 
(iii) does not charge event attendees 
any fees other than administrative fees; 
and 
(iv) does not receive any compensation 
with respect to such event that would re-
quire registration of the sponsor as a 
broker or a dealer under the Securities Ex-
change Act of 1934, or as an investment 
advisor under the Investment Advisers Act 
of 1940; and 
(D) where no specific information regard-
ing an offering of securities by the issuer is 
communicated or distributed by or on behalf of 
the issuer, other than— 
(i) that the issuer is in the process of 
offering securities or planning to offer se-
curities; 
(ii) the type and amount of securities 
being offered; 
(iii) the amount of securities being of-
fered that have already been subscribed 
for; and 
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(iv) the intended use of proceeds of 
the offering. 
(2) RULE OF CONSTRUCTION.—Paragraph (1) 
may only be construed as requiring the Securities 
and Exchange Commission to amend the require-
ments of Regulation D with respect to presentations 
and communications, and not with respect to pur-
chases or sales. 
SEC. 913. INVESTOR LIMITATION FOR QUALIFYING VEN-
TURE CAPITAL FUNDS. 
Section 3(c)(1) of the Investment Company Act of 
1940 (15 U.S.C. 80a–3(c)(1)) is amended— 
(1) by inserting after ‘‘one hundred persons’’ 
the following: ‘‘(or, with respect to a qualifying ven-
ture capital fund, 500 persons)’’; and 
(2) by adding at the end the following: 
‘‘(C) The term ‘qualifying venture capital 
fund’ means any venture capital fund (as de-
fined pursuant to section 203(l)(1) of the In-
vestment Advisers Act of 1940 (15 U.S.C. 80b– 
3(l)(1)) with no more than $50,000,000 in ag-
gregate capital contributions and uncalled com-
mitted capital, as such dollar amount is annu-
ally adjusted by the Commission to reflect the 
change in the Consumer Price Index for All 
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Urban Consumers published by the Bureau of 
Labor Statistics of the Department of Labor.’’. 
SEC. 914. MANUFACTURED HOUSING. 
(a) MORTGAGE ORIGINATOR DEFINITION.—Section 
103 of the Truth in Lending Act (15 U.S.C. 1602) is 
amended— 
(1) by redesignating the second subsection (cc) 
and subsection (dd) as subsections (dd) and (ee), re-
spectively; and 
(2) in paragraph (2)(C) of subsection (dd), as 
so redesignated, by striking ‘‘an employee of a re-
tailer of manufactured homes who is not described 
in clause (i) or (iii) of subparagraph (A) and who 
does not advise a consumer on loan terms (including 
rates, fees, and other costs)’’ and inserting ‘‘a re-
tailer of manufactured or modular homes or its em-
ployees unless such retailer or its employees receive 
compensation or gain for engaging in activities de-
scribed in subparagraph (A) that is in excess of any 
compensation or gain received in a comparable cash 
transaction’’. 
(b) HIGH-COST MORTGAGE DEFINITION.—Section 
103 of the Truth in Lending Act (15 U.S.C. 1602), as 
amended by subsection (a), is further amended— 
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(1) by redesignating subsection (aa) (relating to 
disclosure of greater amount or percentage), as so 
designated by section 1100A of the Consumer Fi-
nancial Protection Act of 2010, as subsection (bb); 
(2) by redesignating subsection (bb) (relating to 
high cost mortgages), as so designated by section 
1100A of the Consumer Financial Protection Act of 
2010, as subsection (aa), and moving such sub-
section to immediately follow subsection (z); and 
(3) in subsection (aa)(1)(A), as so redesig-
nated— 
(A) in clause (i)(I), by striking ‘‘(8.5 per-
centage points, if the dwelling is personal prop-
erty and the transaction is for less than 
$50,000)’’ and inserting ‘‘(10 percentage points 
if the dwelling is personal property or is a 
transaction that does not include the purchase 
of real property on which a dwelling is to be 
placed, and the transaction is for less than 
$75,000 (as such amount is adjusted by the 
Bureau to reflect the change in the Consumer 
Price Index))’’; and 
(B) in clause (ii)— 
(i) in subclause (I), by striking ‘‘or’’ 
at the end; and 
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(ii) by adding at the end the fol-
lowing: 
‘‘(III) in the case of a trans-
action for less than $75,000 (as such 
amount is adjusted by the Bureau to 
reflect the change in the Consumer 
Price Index) in which the dwelling is 
personal property (or is a consumer 
credit transaction that does not in-
clude the purchase of real property on 
which a dwelling is to be placed) the 
greater of 5 percent of the total trans-
action amount or $3,000 (as such 
amount is adjusted by the Bureau to 
reflect the change in the Consumer 
Price Index); or’’. 
SEC. 915. REQUIREMENTS FOR DEPOSIT ACCOUNT TERMI-
NATION REQUESTS AND ORDERS. 
(a) TERMINATION REQUESTS OR ORDERS MUST BE 
MATERIAL.— 
(1) IN
GENERAL.—An appropriate Federal 
banking agency may not formally or informally re-
quest or order a depository institution to terminate 
a specific customer account or group of customer ac-
counts or to otherwise restrict or discourage a de-
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pository institution from entering into or maintain-
ing a banking relationship with a specific customer 
or group of customers unless— 
(A) the agency has a material reason for 
such request or order; and 
(B) such reason is not based solely on rep-
utation risk. 
(2) 
TREATMENT
OF
NATIONAL
SECURITY 
THREATS.—If an appropriate Federal banking agen-
cy believes a specific customer or group of customers 
is, or is acting as a conduit for, an entity which— 
(A) poses a threat to national security; 
(B) is involved in terrorist financing; 
(C) is an agency of the government of 
Iran, North Korea, Syria, or any country listed 
from time to time on the State Sponsors of 
Terrorism list; 
(D) is located in, or is subject to the juris-
diction of, any country specified in subpara-
graph (C); or 
(E) does business with any entity described 
in subparagraph (C) or (D), unless the appro-
priate Federal banking agency determines that 
the customer or group of customers has used 
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due diligence to avoid doing business with any 
entity described in subparagraph (C) or (D), 
such belief shall satisfy the requirement under para-
graph (1). 
(b) NOTICE REQUIREMENT.— 
(1) IN GENERAL.—If an appropriate Federal 
banking agency formally or informally requests or 
orders a depository institution to terminate a spe-
cific customer account or a group of customer ac-
counts, the agency shall— 
(A) provide such request or order to the 
institution in writing; and 
(B) accompany such request or order with 
a written justification for why such termination 
is needed, including any specific laws or regula-
tions the agency believes are being violated by 
the customer or group of customers, if any. 
(2) JUSTIFICATION
REQUIREMENT.—A jus-
tification described under paragraph (1)(B) may not 
be based solely on the reputation risk to the deposi-
tory institution. 
(c) CUSTOMER NOTICE.— 
(1) NOTICE
REQUIRED.—Except as provided 
under paragraph (2), if an appropriate Federal 
banking agency orders a depository institution to 
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terminate a specific customer account or a group of 
customer accounts, the depository institution shall 
inform the customer or customers of the justification 
for the customer’s account termination described 
under subsection (b). 
(2) NOTICE
PROHIBITED
IN
CASES
OF
NA-
TIONAL SECURITY.—If an appropriate Federal bank-
ing agency requests or orders a depository institu-
tion to terminate a specific customer account or a 
group of customer accounts based on a belief that 
the customer or customers pose a threat to national 
security, or are otherwise described under subsection 
(a)(2), neither the depository institution nor the ap-
propriate Federal banking agency may inform the 
customer or customers of the justification for the 
customer’s account termination. 
(d) REPORTING REQUIREMENT.—Each appropriate 
Federal banking agency shall issue an annual report to 
the Congress stating— 
(1) the aggregate number of specific customer 
accounts that the agency requested or ordered a de-
pository institution to terminate during the previous 
year; and 
(2) the legal authority on which the agency re-
lied in making such requests and orders and the fre-
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quency on which the agency relied on each such au-
thority. 
(e) DEFINITIONS.—For purposes of this section: 
(1) APPROPRIATE
FEDERAL
BANKING
AGEN-
CY.—The term ‘‘appropriate Federal banking agen-
cy’’ means— 
(A) the appropriate Federal banking agen-
cy, as defined under section 3 of the Federal 
Deposit Insurance Act (12 U.S.C. 1813); and 
(B) the National Credit Union Administra-
tion, in the case of an insured credit union. 
(2) DEPOSITORY INSTITUTION.—The term ‘‘de-
pository institution’’ means— 
(A) a depository institution, as defined 
under section 3 of the Federal Deposit Insur-
ance Act (12 U.S.C. 1813); and 
(B) an insured credit union. 
SEC. 916. AMENDMENTS TO THE FINANCIAL INSTITUTIONS 
REFORM, RECOVERY, AND ENFORCEMENT 
ACT OF 1989. 
Section 951 of the Financial Institutions Reform, Re-
covery, and Enforcement Act of 1989 (12 U.S.C. 1833a) 
is amended— 
(1) in subsection (c)(2), by striking ‘‘affecting 
a federally insured financial institution’’ and insert-
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ing ‘‘against a federally insured financial institution 
or by a federally insured financial institution against 
an unaffiliated third person’’; and 
(2) in subsection (g)— 
(A) in the heading, by striking ‘‘SUB-
POENAS’’ and inserting ‘‘INVESTIGATIONS’’; and 
(B) by amending paragraph (1)(C) to read 
as follows: 
‘‘(C) summon witnesses and require the 
production of any books, papers, correspond-
ence, memoranda, or other records which the 
Attorney General deems relevant or material to 
the inquiry, if the Attorney General— 
‘‘(i) requests a court order from a 
court of competent jurisdiction for such ac-
tions and offers specific and articulable 
facts showing that there are reasonable 
grounds to believe that the information or 
testimony sought is relevant and material 
for conducting an investigation under this 
section; or 
‘‘(ii) either personally or through dele-
gation no lower than the Deputy Attorney 
General, issues and signs a subpoena for 
such actions and such subpoena is sup-
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ported by specific and articulable facts 
showing that there are reasonable grounds 
to believe that the information or testi-
mony sought is relevant for conducting an 
investigation under this section.’’. 
SEC. 917. SAFE HARBOR FOR CERTAIN LOANS HELD ON 
PORTFOLIO. 
(a) IN GENERAL.—Section 129C of the Truth in 
Lending Act (15 U.S.C. 1639c) is amended by adding at 
the end the following: 
‘‘(j) SAFE HARBOR FOR CERTAIN LOANS HELD ON 
PORTFOLIO.— 
‘‘(1) SAFE HARBOR FOR CREDITORS THAT ARE 
DEPOSITORY INSTITUTIONS.— 
‘‘(A) IN GENERAL.—A creditor that is a 
depository institution shall not be subject to 
suit for failure to comply with subsection (a), 
(c)(1), or (f)(2) of this section or section 129H 
with respect to a residential mortgage loan, and 
the banking regulators shall treat such loan as 
a qualified mortgage, if— 
‘‘(i) the creditor has, since the origi-
nation of the loan, held the loan on the 
balance sheet of the creditor; and 
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‘‘(ii) all prepayment penalties with re-
spect to the loan comply with the limita-
tions described under subsection (c)(3). 
‘‘(B) EXCEPTION
FOR
CERTAIN
TRANS-
FERS.—In the case of a depository institution 
that transfers a loan originated by that institu-
tion to another depository institution by reason 
of the bankruptcy or failure of the originating 
depository institution or the purchase of the 
originating depository institution, the depository 
institution transferring such loan shall be 
deemed to have complied with the requirement 
under subparagraph (A)(i). 
‘‘(2) SAFE HARBOR FOR MORTGAGE ORIGINA-
TORS.—A mortgage originator shall not be subject 
to suit for a violation of section 129B(c)(3)(B) for 
steering a consumer to a residential mortgage loan 
if— 
‘‘(A) the creditor of such loan is a deposi-
tory institution and has informed the mortgage 
originator that the creditor intends to hold the 
loan on the balance sheet of the creditor for the 
life of the loan; and 
‘‘(B) the mortgage originator informs the 
consumer that the creditor intends to hold the 
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loan on the balance sheet of the creditor for the 
life of the loan. 
‘‘(3) DEFINITIONS.—For purposes of this sub-
section: 
‘‘(A) BANKING
REGULATORS.—The term 
‘banking regulators’ means the Federal banking 
agencies, the Bureau, and the National Credit 
Union Administration. 
‘‘(B) 
DEPOSITORY
INSTITUTION.—The 
term ‘depository institution’ has the meaning 
given that term under section 19(b)(1) of the 
Federal Reserve Act (12 U.S.C. 505(b)(1)). 
‘‘(C) FEDERAL BANKING AGENCIES.—The 
term ‘Federal banking agencies’ has the mean-
ing given that term under section 3 of the Fed-
eral Deposit Insurance Act.’’. 
(b) RULE
OF
CONSTRUCTION.—Nothing in the 
amendment made by this section may be construed as pre-
venting a balloon loan from qualifying for the safe harbor 
provided under section 129C(j) of the Truth in Lending 
Act if the balloon loan otherwise meets all of the require-
ments under such subsection (j), regardless of whether the 
balloon loan meets the requirements described under 
clauses (i) through (iv) of section 129C(b)(2)(E) of such 
Act. 
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SEC. 918. CHANGES REQUIRED TO SMALL BANK HOLDING 
COMPANY POLICY STATEMENT ON ASSESS-
MENT OF FINANCIAL AND MANAGERIAL FAC-
TORS. 
(a) IN GENERAL.—Before the end of the 6-month pe-
riod beginning on the date of the enactment of this Act, 
the Board of Governors of the Federal Reserve System 
shall revise the Small Bank Holding Company Policy 
Statement on Assessment of Financial and Managerial 
Factors (12 CFR part 225—appendix C) to raise the con-
solidated asset threshold under such policy statement from 
$1,000,000,000 (as adjusted by Public Law 113–250) to 
$10,000,000,000. 
(b) CONFORMING AMENDMENT.—Subparagraph (C) 
of section 171(b)(5) of the Dodd-Frank Wall Street Re-
form 
and 
Consumer 
Protection 
Act 
(12 
U.S.C. 
5371(b)(5)) is amended to read as follows: 
‘‘(C) any bank holding company or savings 
and loan holding company that is subject to the 
application of the Small Bank Holding Com-
pany Policy Statement on Assessment of Finan-
cial and Managerial Factors of the Board of 
Governors (12 CFR part 225—appendix C).’’. 
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SEC. 919. COMMUNITY FINANCIAL INSTITUTION MORTGAGE 
RELIEF. 
(a) EXEMPTION FROM ESCROW REQUIREMENTS FOR 
LOANS HELD BY SMALLER CREDITORS.—Section 129D 
of the Truth in Lending Act (15 U.S.C. 1639d) is amend-
ed— 
(1) by adding at the end the following: 
‘‘(k) SAFE HARBOR FOR LOANS HELD BY SMALLER 
CREDITORS.— 
‘‘(1) IN GENERAL.—A creditor shall not be in 
violation of subsection (a) with respect to a loan if— 
‘‘(A) the creditor has consolidated assets of 
$10,000,000,000 or less; and 
‘‘(B) the creditor holds the loan on the bal-
ance sheet of the creditor for the 3-year period 
beginning on the date of the origination of the 
loan. 
‘‘(2) EXCEPTION FOR CERTAIN TRANSFERS.— 
In the case of a creditor that transfers a loan to an-
other person by reason of the bankruptcy or failure 
of the creditor, the purchase of the creditor, or a su-
pervisory act or recommendation from a State or 
Federal regulator, the creditor shall be deemed to 
have complied with the requirement under para-
graph (1)(B).’’; and 
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(2) by striking the term ‘‘Board’’ each place 
such term appears and inserting ‘‘Bureau’’. 
(b) MODIFICATION
TO
EXEMPTION
FOR
SMALL 
SERVICERS OF MORTGAGE LOANS.—Section 6 of the Real 
Estate Settlement Procedures Act of 1974 (12 U.S.C. 
2605) is amended by adding at the end the following: 
‘‘(n) SMALL SERVICER EXEMPTION.—The Bureau 
shall, by regulation, provide exemptions to, or adjustments 
for, the provisions of this section for a servicer that annu-
ally services 20,000 or fewer mortgage loans, in order to 
reduce regulatory burdens while appropriately balancing 
consumer protections.’’. 
SEC. 920. REGULATIONS APPROPRIATE TO BUSINESS MOD-
ELS. 
(a) IN GENERAL.—For any regulatory action occur-
ring after the date of the enactment of this Act, each Fed-
eral financial institutions regulatory agency shall— 
(1) take into consideration the risk profile and 
business models of each type of institution or class 
of institutions subject to the regulatory action; 
(2) determine the necessity, appropriateness, 
and impact of applying such regulatory action to 
such institutions or classes of institutions; and 
(3) tailor such regulatory action in a manner 
that limits the regulatory compliance impact, cost, li-
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ability risk, and other burdens, as appropriate, for 
the risk profile and business model of the institution 
or class of institutions involved. 
(b) OTHER CONSIDERATIONS.—In carrying out the 
requirements of subsection (a), each Federal financial in-
stitutions regulatory agency shall consider— 
(1) the impact that such regulatory action, both 
by itself and in conjunction with the aggregate effect 
of other regulations, has on the ability of the appli-
cable institution or class of institutions to serve 
evolving and diverse customer needs; 
(2) the potential impact of examination manu-
als, regulatory actions taken with respect to third- 
party service providers, or other regulatory directives 
that may be in conflict or inconsistent with the tai-
loring of such regulatory action described in sub-
section (a)(3); and 
(3) the underlying policy objectives of the regu-
latory action and statutory scheme involved. 
(c) NOTICE
OF
PROPOSED
AND
FINAL
RULE-
MAKING.—Each Federal financial institutions regulatory 
agency shall disclose in every notice of proposed rule-
making and in any final rulemaking for a regulatory ac-
tion how the agency has applied subsections (a) and (b). 
(d) REPORTS TO CONGRESS.— 
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(1) INDIVIDUAL AGENCY REPORTS.— 
(A) IN GENERAL.—Not later than 1 year 
after the date of the enactment of this Act and 
annually thereafter, each Federal financial in-
stitutions regulatory agency shall report to the 
Committee on Financial Services of the House 
of Representatives and the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate 
on the specific actions taken to tailor the regu-
latory actions of the agency pursuant to the re-
quirements of this Act. 
(B) APPEARANCE BEFORE THE COMMIT-
TEES.—The head of each Federal financial in-
stitution regulatory agency shall appear before 
the Committee on Financial Services of the 
House of Representatives and the Committee 
on Banking, Housing, and Urban Affairs of the 
Senate after each report is made pursuant to 
subparagraph (A) to testify on the contents of 
such report. 
(2) FIEC REPORTS.— 
(A) IN
GENERAL.—Not later than 3 
months after each report is submitted under 
paragraph (1), the Financial Institutions Ex-
amination Council shall report to the Com-
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mittee on Financial Services of the House of 
Representatives and the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate 
on— 
(i) the extent to which regulatory ac-
tions tailored pursuant to this Act result in 
different treatment of similarly situated in-
stitutions of diverse charter types; and 
(ii) the reasons for such differential 
treatment. 
(B) APPEARANCE BEFORE THE COMMIT-
TEES.—The Chairman of the Financial Institu-
tions Examination Council shall appear before 
the Committee on Financial Services of the 
House of Representatives and the Committee 
on Banking, Housing, and Urban Affairs of the 
Senate after each report is made pursuant to 
subparagraph (A) to testify on the contents of 
such report. 
(e) LIMITED LOOK-BACK APPLICATION.— 
(1) IN GENERAL.—Each Federal financial insti-
tutions regulatory agency shall conduct a review of 
all regulations adopted during the period beginning 
on the date that is seven years before the date of the 
introduction of this Act in the House of Representa-
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tives and ending on the date of the enactment of 
this Act, and apply the requirements of this Act to 
such regulations. 
(2) REVISION.—If the application of the re-
quirements of this Act to any such regulation re-
quires such regulation to be revised, the applicable 
Federal financial institutions regulatory agency shall 
revise such regulation within 3 years of the enact-
ment of this Act. 
(f) DEFINITIONS.—In this Act, the following defini-
tions shall apply: 
(1) FEDERAL FINANCIAL INSTITUTIONS REGU-
LATORY AGENCIES.—The term ‘‘Federal financial in-
stitutions regulatory agencies’’ means the Office of 
the Comptroller of the Currency, the Board of Gov-
ernors of the Federal Reserve System, the Federal 
Deposit Insurance Corporation, the National Credit 
Union Administration, and the Bureau of Consumer 
Financial Protection. 
(2) REGULATORY
ACTION.—The term ‘‘regu-
latory action’’ means any proposed, interim, or final 
rule or regulation, guidance, or published interpreta-
tion. 
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SEC. 921. ELIMINATING BARRIERS TO JOBS FOR LOAN 
ORIGINATORS. 
(a) IN GENERAL.—The S.A.F.E. Mortgage Licensing 
Act of 2008 (12 U.S.C. 5101 et seq.) is amended by add-
ing at the end the following: 
‘‘SEC. 1518. EMPLOYMENT TRANSITION OF LOAN ORIGINA-
TORS. 
‘‘(a) TEMPORARY AUTHORITY TO ORIGINATE LOANS 
FOR LOAN ORIGINATORS MOVING FROM A DEPOSITORY 
INSTITUTION TO A NON-DEPOSITORY INSTITUTION.— 
‘‘(1) IN
GENERAL.—Upon employment by a 
State-licensed mortgage company, an individual who 
is a registered loan originator shall be deemed to 
have temporary authority to act as a loan originator 
in an application State for the period described in 
paragraph (2) if the individual— 
‘‘(A) has not had an application for a loan 
originator license denied, or had such a license 
revoked or suspended in any governmental ju-
risdiction; 
‘‘(B) has not been subject to or served 
with a cease and desist order in any govern-
mental jurisdiction or as described in section 
1514(c); 
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‘‘(C) has not been convicted of a felony 
that would preclude licensure under the law of 
the application State; 
‘‘(D) has submitted an application to be a 
State-licensed loan originator in the application 
State; and 
‘‘(E) was registered in the Nationwide 
Mortgage Licensing System and Registry as a 
loan originator during the 12-month period pre-
ceding the date of submission of the informa-
tion required under section 1505(a). 
‘‘(2) PERIOD.—The period described in para-
graph (1) shall begin on the date that the individual 
submits the information required under section 
1505(a) and shall end on the earliest of— 
‘‘(A) the date that the individual with-
draws the application to be a State-licensed 
loan originator in the application State; 
‘‘(B) the date that the application State 
denies, or issues a notice of intent to deny, the 
application; 
‘‘(C) the date that the application State 
grants a State license; or 
‘‘(D) the date that is 120 days after the 
date on which the individual submits the appli-
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cation, if the application is listed on the Nation-
wide Mortgage Licensing System and Registry 
as incomplete. 
‘‘(b) TEMPORARY AUTHORITY TO ORIGINATE LOANS 
FOR
STATE-LICENSED
LOAN
ORIGINATORS
MOVING 
INTERSTATE.— 
‘‘(1) IN GENERAL.—A State-licensed loan origi-
nator shall be deemed to have temporary authority 
to act as a loan originator in an application State 
for the period described in paragraph (2) if the 
State-licensed loan originator— 
‘‘(A) meets the requirements of subpara-
graphs (A), (B), (C), and (D) of subsection 
(a)(1); 
‘‘(B) is employed by a State-licensed mort-
gage company in the application State; and 
‘‘(C) was licensed in a State that is not the 
application State during the 30-day period pre-
ceding the date of submission of the informa-
tion required under section 1505(a) in connec-
tion with the application submitted to the appli-
cation State. 
‘‘(2) PERIOD.—The period described in para-
graph (1) shall begin on the date that the State-li-
censed loan originator submits the information re-
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