A bill to clarify that funding for the standard setting body designated pursuant to section 19(b) of the Securities Act of 1933 is not subject to the sequester.

Bill: 116-s-392
Sponsor: full_name: Sen. Enzi, Michael B. [R-WY]
Introduced: 2019-02-07
Policy area: Finance and Financial Sector
Subjects: Accounting and auditing

Appropriations

Budget deficits and national debt

Financial services and investments

Securities
Latest action: action_date: 2019-02-07
text: Read twice and referred to the Committee on the Budget.

Summaries:
action_date: 2019-02-07
action_desc: Introduced in Senate
text: <p>This bill provides that any sequestration ordered by the President is inapplicable to funding of the body that sets standards for generally accepted accounting principles for purposes of securities laws. (Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.)</p>

tv_txt: II 116th CONGRESS 1st Session S. 392 IN THE SENATE OF THE UNITED STATES February 7, 2019 Mr. Enzi introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To clarify that funding for the standard setting body designated pursuant to section 19(b) of the Securities Act of 1933 is not subject to the sequester.

1. Clarification Section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 901a ) does not apply with respect to the funding of the standard setting body designated pursuant to section 19(b) of the Securities Act of 1933 ( 15 U.S.C. 77s(b) ).