Text: H.R.5999 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in House (07/30/2010)


111th CONGRESS
2d Session
H. R. 5999


To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the Office of Financial Research.


IN THE HOUSE OF REPRESENTATIVES

July 30, 2010

Mr. Hensarling introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the Office of Financial Research.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Repeal of the Office of Financial Research.

(a) In general.—Subtitle B of title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act is hereby repealed.

(b) Conforming amendments to the Dodd-Frank Act.—The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended—

(1) in section 102(a), by striking paragraph (5);

(2) in section 111—

(A) in subsection (b)(2)—

(i) by striking subparagraph (A); and

(ii) by redesignating subparagraphs (B), (C), (D), and (E) as subparagraphs (A), (B), (C), and (D), respectively;

(B) in subsection (c), by striking “subparagraphs (C), (D), and (E)” and inserting “subparagraphs (B), (C), and (D)”;

(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 subparagraph (B); and

(iii) by redesignating subparagraphs (C), (D), (E), (F), (G), (H), (I), (J), (K), (L), (M), and (N) as subparagraphs (B), (C), (D), (E), (F), (G), (H), (I), (J), (K), (L), and (M), respectively; and

(B) in subsection (d)—

(i) in paragraph (1), by striking “the Office of Financial Research, member agencies, and” and inserting “member agencies and”;

(ii) in paragraph (2), by striking “the Office of Financial Research, any member agency, and” and inserting “any member agency and”;

(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 Research or”; and

(iv) in paragraph (5)(A), by striking “, the Office of Financial Research,”;

(4) in section 116, by striking “, acting through the Office of Financial Research,” each place it appears; and

(5) by striking section 118.

(c) Conforming amendment to the Paperwork Reduction Act.—Section 2(5) of the Paperwork Reduction Act is amended by striking “the Office of Financial Research,”.

(d) Technical amendments.—The table of contents for the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended—

(1) by striking the item relating to section 118; and

(2) by striking the items relating to subtitle B of title I.


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