,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #ecjj  ,,in ,,the ,,house ,,of  
,,representatives  ,december #d1        
#bjai,mr4 ,foster introduced the        
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,financial     
,stability ,act of #bjaj to preserve the
 independent funding in the ,office of  
,financial ,research1 to establish      
minimum staffing levels for the         
,financial ,stability ,oversight        
,council1 to establish minimum funding  
levels for such staff1 and for other    
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,enhancing          
,financial ,stability ,research and     
,oversight ,act4  #b4 ,preserving       
independent funding ,the ,financial     
,stability ,act of #bjaj 7#ab ,u4,s4,c4 
#ecaa et seq47 is amended--  7#a7 in    
section #aeb-- 7,a7 by amending         
subsection 7c7 to read as follows3  7c7 
,budget  7#a7 ,in general ,the ,director
 shall have sole discretion to establish

 the annual budget of the ,office4  7#b7
 ,minimum funding level of the budget   
,the annual budget of the ,office in any
 given fiscal year shall not be less    
than #ajd1ggj1jjj4  7#c7 ,adjustment of 
minimum funding level ,the dollar amount
 referred to in paragraph 7#b7 shall be 
adjusted annually by the ,director1     
using the percent increase1 if any1 in  
the employment cost index for total     
compensation for ,state and local       
government workers published by the     
,federal ,government1 or the successor  
index thereto1 for the #ab-month period 
ending ,september #cj of the year       
preceding the annual budget4  7#d7      
,minimum staffing level ,the ,director  
shall ensure that the ,office has not   
less than #bee full-time equivalent     
positions4  2 and  7,b7 in subsection   
7d71 by striking 1 in consultation with 
the ,chairperson1 each place such term  
appears2  7,c7 in subsection 7h71 by    
striking 1 in consultation with the     
,chairperson12 and  7,d7 in subsection  

7i71 by striking 1 in consultation with 
the ,chairperson12  7#b7 in section     
#aee-- 7,a7 in subsection 7d71 by       
inserting before the period the         
following3 1 as determined in the sole  
discretion of the ,director2 and  7,b7  
by adding at the end the following3  7e7
 ,reviewability ,notwithstanding any    
other provision of this subtitle1 the   
funding pursuant to subsection 7d7 shall
 not be subject to review by the        
,committees on ,appropriations of the   
,house of ,representatives and the      
,senate4  7f7 ,preservation of the      
,office of ,financial ,research's       
independence ,nothing in this section   
shall authorize the ,secretary to       
influence the budget or the number or   
compensation of employees of the        
,office4  4  #c4 ,minimum ,,fsoc        
staffing levels  7a7 ,minimum staffing  
level ,section #aaa of the ,financial   
,stability ,act of #bjaj 7#ab ,u4,s4,c4 
#ecba7 is amended by adding at the end  
the following3  7k7 ,minimum staffing   

level ,the ,chairperson of the ,council 
shall ensure that the ,council has not  
less than #cf full-time equivalent      
positions1 not including any employees  
detailed pursuant to subsection 7j74  4 
7b7 ,minimum budget levels ,section #aah
 of the ,financial ,stability ,act of   
#bjaj 7#ab ,u4,s4,c4 #ecbh7 is amended  
to read as follows3  #aah4 ,council     
funding  7a7 ,in general ,the ,office of
 ,financial ,research shall transfer to 
the ,council the amount of funds        
necessary to pay for the expenses of the
 ,council1 and the ,council may         
immediately use such funds4  7b7        
,minimum budget ,the ,office of         
,financial ,research shall transfer not 
less than #h1ejj1jjj to the ,council    
each year to pay for the staffing and   
other expenses of the ,council1         
including for the office of the         
independent member of the ,council      
described under section                 
#aaa7;b77#a77;,j74 ,such dollar amount  
shall be adjusted annually by the       

,chairperson of the ,council1 using the 
percent increase1 if any1 in the        
employment cost index for total         
compensation for ,state and local       
government workers published by the     
,federal ,government1 or the successor  
index thereto1 for the #ab-month period 
ending ,september #cj of the previous   
year4  4