[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 2500 Introduced in Senate (IS)]
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118th CONGRESS
1st Session
S. 2500
To amend the Commodity Exchange Act to adjust the period during which
amounts transferred by the Commodity Futures Trading Commission to the
account for customer education initiatives and non-awards expenses
shall remain available, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 26, 2023
Mr. Grassley (for himself, Ms. Hassan, Mr. Boozman, Mr. Warnock, and
Ms. Collins) introduced the following bill; which was read twice and
referred to the Committee on Agriculture, Nutrition, and Forestry
_______________________________________________________________________
A BILL
To amend the Commodity Exchange Act to adjust the period during which
amounts transferred by the Commodity Futures Trading Commission to the
account for customer education initiatives and non-awards expenses
shall remain available, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``CFTC Whistleblower Fund Improvement
Act of 2023''.
SEC. 2. COMMODITY FUTURES TRADING COMMISSION CUSTOMER PROTECTION FUND
MODIFICATIONS.
(a) Separate Account for Education Initiatives and Expenses.--
Section 23(g) of the Commodity Exchange Act (7 U.S.C. 26(g)) is
amended--
(1) in paragraph (2)(A), by striking ``subsection (a)'' and
inserting ``subsection (b)''; and
(2) in paragraph (3)--
(A) in subparagraph (A), by striking
``$100,000,000'' and inserting ``$300,000,000'';
(B) in subparagraph (B), by striking ``subparagraph
(A)'' and inserting ``clause (i)'';
(C) by redesignating subparagraphs (A) through (C)
as clauses (i) through (iii), respectively, and
indenting the clauses appropriately;
(D) in the matter preceding clause (i) (as so
redesignated), by striking ``There shall be deposited
into or credited to the Fund:'' and inserting the
following:
``(A) In general.--There shall be deposited in, or
credited to, the Fund the following:''; and
(E) by adding at the end the following:
``(B) Separate account for education initiatives
and administrative expenses.--
``(i) In general.--Any amounts contained
in, deposited in, or credited to the Fund under
subparagraph (A) may be transferred to a
separate account in the Fund described in
clause (ii), unless the balance of that
separate account at the time the amounts are
transferred exceeds $10,000,000.
``(ii) Use of separate account.--The
separate account referred to in clause (i)
shall be available to the Commission, without
further appropriation or fiscal year
limitation, for--
``(I) the purpose described in
subparagraph (B) of paragraph (2); and
``(II) the funding of
administrative and salary expenses
necessary for personnel to carry out
the activities described in
subparagraphs (A) and (B) of that
paragraph.''.
(b) Commodity Futures Trading Commission Whistleblower Program.--
Section 1(b) of Public Law 117-25 (135 Stat. 297; 136 Stat. 2133; 136
Stat. 2309) (as amended by section 301 of division HH of Public Law
117-328) is amended--
(1) in paragraph (3), by striking ``until'' and all that
follows through the period at the end and inserting ``until
expended.''; and
(2) by striking paragraph (4).
(c) Technical Corrections.--Section 23 of the Commodity Exchange
Act (7 U.S.C. 26) is amended--
(1) in subsection (a)(5), by striking ``subsection (a)''
and inserting ``subsection (b)'';
(2) in subsection (c)(1)(B)(i)(III), by striking ``the
Act'' each place it appears and inserting ``this Act''; and
(3) in subsection (f)(3), by striking ``section 7064'' and
inserting ``section 706''.
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