,,ii #aag? ,,congress #a/ ,session ,s4 #bghb ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,septemb] #ba1 #bjba,ms4 ,hassan 7= h]self & ,mr4 ,paul7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ,a ,,bill ,to address recomm5dations made to ,congress by ! ,gov]nm5t ,acc\ntability ,(fice & detail$ 9 ! annual duplication report1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,act+ on ! ,annual ,duplication ,report ,act ( #bjba4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4,sec4 #b4 ,f9d+s2 s5se ( ,congress4,title ,i--,dep>tm5t ( ,defense,sec4 #aja4 ,enhanc+ ,f$]al rev5ue ?r\gh review+ & report+ on use & managem5t ( adm9i/rative sur*>ges "u =eign milit>y sales program4,sec4 #ajb4 ,modification ( calculation ( milit>y h\s+ contractor pay = privatiz$ milit>y h\s+4,title ,,ii--,dep>tm5t ( ,education,sec4 #bja4 ,maximiz+ effective use & rec\pm5t ( ,f$]al /ud5t loans by clos+ ! =be>ance loophole & am5d+ default rates4,title ,,iii--,dep>tm5t ( ,energy,sec4 #cja4 ,increas+ ,f$]al rev5ue by review+ & report+ on optimal size ( ,/rategic ,petroleum ,res]ve4,title ,,iv--,dep>tm5t ( ,h\s+ & ,urban ,development,sec4 #dja4 ,optimiz+ rev5ue intake & sav+ taxpay] doll>s at ,g9nie ,mae by assess+ curr5t practices & explor+ alt]native gov]nance /ructures to provide bett] ov]sight4,title ,v--,dep>tm5t ( ! ,treasury,sec4 #eja4 ,sav+ ,f$]al funds by au?oriz+ *anges to ! composition ( circulat+ co9s4,sec4 #ejb4 ,r$uc+ ! res\rce dra9 by requir+ t electronically prep>$ pap] returns include scannable code4,sec4 #ejc4 ,protect+ ! security ( taxpay] in=mation held by ?ird-p>ty provid]s by improv+ coord9ation & e/abli%+ m9imum security requirem5ts to r$uce fragm5tation4 #b4 ,f9d+s2 s5se ( ,congress 7a7 ,f9d+s ,congress makes ! foll[+ f9d+s3 7#a7 ,! annual reports prep>$ by ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates "u section #ba ( ! ,jo9t ,resolution entitl$ ,jo9t ,resolution increas+ ! /atutory limit on ! public debt1 approv$ ,febru>y #ab1 #bjaj 7#ca ,u4,s4,c4 #gab note2 ,public ,law #aaa-aci71 h produc$ approximately #dbi1jjj1jjj1jjj 9 f9ancial b5efits = ! ,f$]al ,gov]nm5t4 7#b7 #bjba m>ks ! #ajj-ye> anniv]s>y ( ! creation ( ! ,gov]nm5t ,acc\ntability ,(fice & its contributions to improv+ ! managem5t & fiscal responsibility ( ! ,f$]al ,gov]nm5t4 7#c7 ,! #bjba report entitl$ ,additional ,opportunities to ,r$uce ,fragm5tation1 ,ov]lap1 & ,duplication & ,a*ieve ,billions 9 ,f9ancial ,b5efits 7,,gao-#ba-dee,,sp7 id5tifi$ #aab new actions t ,congress or ! executive bran* c take to improve effici5cy & effectiv5ess across ! ,f$]al ,gov]nm5t1 & pot5tially to save t5s ( billions ( doll>s4 7#d7 ,^? f9ancial b5efits _c be realiz$ )\t full implem5tation ( ! actions & recomm5dations set =? by ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates4 7#e7 ,( ! #aab new actions1 "o requires legislation to be fully implem5t$1 & x conc]ns adju/+ ! rate calculation = pay+ milit>y h\s+ contractors4 7b7 ,s5se ( ,congress ,x is ! s5se ( ,congress t-- 7#a7 x is ! responsibility ( ,congress & ! executive bran* to take action to implem5t recomm5dations made 9 ! annual reports ( ! ,gov]nm5t ,acc\ntability ,(fice on r$uc+ duplication 9 ,f$]al programs to be good /ew>ds ( taxpay] doll>s2 7#b7 legislation & adequate res\rces are ne$$ to ensure t all pot5tial f9ancial b5efits are realiz$ f ! implem5tation ( ^? recomm5dations2 & 7#c7 :ile "s recomm5dations = congressional action f previ\s reports h be5 resolv$1 ,congress mu/ cont9ue to pursue ! recomm5dations t h gone unaddress$ 9 addition to ! new recomm5dation = action pres5t$ 9 ! #bjba report4 ,i ,dep>tm5t ( ,def5se #aja4 ,enhanc+ ,f$]al rev5ue ?r\gh review+ & report+ on use & managem5t ( adm9i/rative sur*>ges "u =eign milit>y sales program 7a7 ,=eign milit>y sales program def9$ ,9 ?is section1 ! t]m =eign milit>y sales program means ! program au?oriz$ "u *apt] #b ( ! ,arms ,export ,control ,act 7#bb ,u4,s4,c4 #bgfa et seq474 7b7 ,review 7#a7 ,9 g5]al ,! ,secret>y ( ,def5se1 act+ ?r\gh ! ,director ( ! ,def5se ,security ,coop]ation ,ag5cy1 %all review options = exp&+ ! use ( adm9i/rative sur*>ges "u ! =eign milit>y sales program1 includ+ practices = manag+ adm9i/rative sur*>ges & contract adm9i/ration s]vices sur*>ges4 7#b7 ,matt]s to be includ$ ,! review conduct$ "u p>agraph 7#a7 %all include ! foll[+3 7,a7 ,a det]m9ation ( :i* specific exp5ses are incurr$ by ! ,unit$ ,/ates ,gov]nm5t 9 op]ation ( ! =eign milit>y sales program t ! adm9i/rative sur*>ge does n pay = z ( ! date ( ! enactm5t ( ?is ,act4 7,b7 ,! e/imat$ annual co/ ( ea* ( su* specific exp5ses4 7,c7 ,an assessm5t ( ! co/s & b5efits ( fund+ su* specific exp5ses ?r\gh ! adm9i/rative sur*>ge1 includ+ any data to support su* an assessm5t4 7,d7 ,an assessm5t ( h[ ! ,dep>tm5t ( ,def5se calculates ! l[] b\nd1 or safety level1 = ! adm9i/rative sur*>ge acc\nt & ! contract adm9i/ration s]vices sur*>ge acc\nt1 includ+ :at specific factors in=m ! calculation & :e!r su* a me?od = calculat+ ! safety level is /ill valid or %\ld be revisit$4 7,e7 ,an assessm5t ( ! process us$ by ! ,dep>tm5t ( ,def5se to review & set rates = ! adm9i/rative sur*>ge & ! contract adm9i/ration s]vices sur*>ge1 includ+ ! ext5t to :i* outside p>ties are consult$ & any proposals ! ,dep>tm5t ( ,def5se may h = bett] ensur+ t ! rates are set appropriately4 7,f7 ,su* o!r matt]s z ! ,secret>y ( ,def5se det]m9es to be appropriate4 7c7 ,report requir$ ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,def5se1 act+ ?r\gh ! ,director ( ! ,def5se ,security ,coop]ation ,ag5cy1 %all submit to ! ,committee on ,arm$ ,s]vices ( ! ,s5ate & ! ,committee on ,arm$ ,s]vices ( ! ,h\se ( ,repres5tatives a report on-- 7#a7 ! f9d+s ( ! review conduct$ "u subsection 7b72 & 7#b7 any legislative *anges ne$$ to all[ ! adm9i/rative sur*>ge "u ! =eign milit>y sales program to pay = any exp5ses curr5tly n cov]$ by t sur*>ge4 #ajb4 ,modification ( calculation ( milit>y h\s+ contractor pay = privatiz$ milit>y h\s+ ,section #fjf7;a7 ( ! ,john ,s4 ,mc,cain ,national ,def5se ,au?orization ,act = ,fiscal ,ye> #bjai 7,public ,law #aae-bcb2 #aj ,u4,s4,c4 #bhga note7 is am5d$-- 7#a7 9 p>agraph 7#a77;,b7-- 7,a7 by /rik+ #b4e p]c5t & ins]t+ #ej p]c5t2 & 7,b7 by /rik+ section #djc7;b77#c77;,a77i7 & ins]t+ section #djc7;b77#c77;,a77ii72 & 7#b7 9 p>agraph 7#b77;,b7-- 7,a7 by /rik+ #b4e p]c5t & ins]t+ #ej p]c5t2 & 7,b7 by /rik+ section #djc7;b77#c77;,a77i7 & ins]t+ section #djc7;b77#c77;,a77ii74 ,,ii ,dep>tm5t ( ,education #bja4 ,maximiz+ effective use & rec\pm5t ( ,f$]al /ud5t loans by clos+ ! =be>ance loophole & am5d+ default rates 7a7 ,default managem5t plan ,section #dce7;a77#g77;,a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhe7;a77#g77;,a77 is am5d$-- 7#a7 by r$esignat+ clause 7ii7 z clause 7iii72 & 7#b7 by ins]t+ aft] clause 7i7 ! foll[+3 7ii7 ,prohibition ,! plan requir$ "u clause 7i7 %all n include plac+ /ud5ts 9 =be>ance z a means ( r$uc+ ! cohort default rate ( ! in/itution4 4 7b7 ,=be>ance rules ,section #dce7m77#a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhe7m77#a77 is am5d$ by add+ at ! end ! foll[+3 7,d7 ,) respect to a cohort default rate calculat$ = an in/itution "u ?is p>agraph = fiscal ye> #bjba & = ea* succe$+ fiscal ye>1 ! cohort default rate %all be calculat$ su* t 9 det]m9+ ! numb] ( curr5t & =m] /ud5ts at an in/itution :o ent] repaym5t = su* fiscal ye>-- 7i7 any /ud5t :o is 9 nonm&atory =be>ance = su* fiscal ye> = a p]iod ( great] ?an #ah mon?s b less ?an #cf mon?s %all n be c\nt$ z ent]+ repaym5t = t fiscal ye>2 7ii7 any /ud5t describ$ 9 clause 7i7 %all be c\nt$ z ent]+ repaym5t = ! fir/ fiscal ye> = :i* ! /ud5t ceases to be 9 a p]iod ( =be>ance & o!rwise meets ! requirem5ts = be+ 9 repaym5t2 & 7iii7 any /ud5t :o is 9 a p]iod ( nonm&atory =be>ance = #c or m ye>s %all be c\nt$ z 9 default & includ$ 9 ! in/itution's total numb] ( /ud5ts 9 default4 4 ,,iii ,dep>tm5t ( ,en]gy #cja4 ,increas+ ,f$]al rev5ue by review+ & report+ on optimal size ( ,/rategic ,petroleum ,res]ve 7a7 ,review 7#a7 ,9 g5]al ,! ,secret>y ( ,en]gy 7ref]r$ to 9 ?is section z ! ,secret>y7 %all conduct a review ( options = a long-range t>get = ! optimal size & configuration ( ! ,/rategic ,petroleum ,res]ve e/abli%$ "u "p ,b ( title ,i ( ! ,en]gy ,policy & ,cons]vation ,act 7#db ,u4,s4,c4 #fbca et seq47 7ref]r$ to 9 ?is section z ! ,res]ve74 7#b7 ,matt]s to be consid]$ ,9 conduct+ ! review "u p>agraph 7#a71 ! ,secret>y %all consid]-- 7,a7 ! volume ( petroleum & petroleum products to be held 9 ! ,res]ve2 7,b7 ! infra/ructure & mod]nization ne$s ( ! ,res]ve2 7,c7 ! projections = future oil production & consumption 9 ! ,unit$ ,/ates2 7,d7 ! efficacy ( ! exi/+ ,res]ve to respond to dome/ic supply disruptions2 7,e7 ! obligations ( ! ,int]national ,en]gy ,ag5cy2 7,f7 ! expect$ responses ( ! private sector to any supply disruptions due to a suboptimal size & configuration ( ! ,res]ve2 & 7,g7 ! co/s & b5efits ( a range ( pot5tial sizes & configurations ( ! ,res]ve4 7b7 ,report ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all submit to ! ,committee on ,en]gy & ,natural ,res\rces ( ! ,s5ate & ! ,committee on ,en]gy & ,comm]ce ( ! ,h\se ( ,repres5tatives a report describ+-- 7#a7 ! f9d+s ( ! review conduct$ "u subsection 7a72 & 7#b7 recomm5dations = legislation ne$$ to optimize ! size & configuration ( ! ,res]ve4 ,,iv ,dep>tm5t ( ,h\s+ & ,urban ,developm5t #dja4 ,optimiz+ rev5ue intake & sav+ taxpay] doll>s at ,g9nie ,mae by assess+ curr5t practices & explor+ alt]native gov]nance /ructures to provide bett] ov]sight 7a7 ,def9itions ,9 ?is section-- 7#a7 ! t]m appropriate congressional committees means-- 7,a7 ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate2 7,b7 ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ( ! ,s5ate2 7,c7 ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives2 & 7,d7 ! ,committee on ,ov]sight & ,re=m ( ! ,h\se ( ,repres5tatives2 7#b7 ! t]m ,association means ! ,gov]nm5t ,national ,mortgage ,association2 & 7#c7 ! t]m ,secret>y means ! ,secret>y ( ,h\s+ & ,urban ,developm5t4 7b7 ,gu>anty fee /udy & report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all conduct a /udy & submit to ! appropriate congressional committees & ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates a report on ! adequacy ( ! gu>anty fee ( ! ,association = s+le-family mortgage-back$ securities1 :i* %all-- 7#a7 evaluate ! ext5t to :i* ! level ( ! gu>anty fee = s+le-family mortgage-back$ securities provides ! ,association ) suffici5t res]ves to cov] pot5tial losses "u diff]5t economic sc5>ios1 includ+ adv]se sc5>ios1 bas$ on an actu>ial or simil> analysis2 7#b7 id5tify ! types ( /&>ds t ! ,association c\ld use to set ! gu>anty fee = s+le-family mortgage-back$ securities & evaluate :i* /&>d or /&>ds w\ld enable ! ,association to set ! gu>anty fee at an appropriate level 9 l9e ) ! mission ( ! ,association2 7#c7 assess ! b5efits & co/s ( adopt+ a risk-bas$ gu>anty fee = s+le-family mortgage-back$ securities t imposes a high] fee on high] risk issu]s2 7#d7 analyze h[ & to :at ext5t an increase 9 ! gu>anty fee 7= all issu]s & a subset ( riski] issu]s7 w\ld affect borr[]s' f9anc+1 clos+1 & o!r relat$ co/s = f$]ally insur$ mortgage loans2 & 7#e7 if w>rant$1 include recomm5dations = any necess>y am5dm5ts to ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agja et seq47 to *ange ! gu>anty fee = s+le-family mortgage-back$ securities1 includ+ = e/abli%+ a /&>d "u :i* ! ,association c det]m9e ! level ( ! gu>anty fee = s+le-family mortgage-back$ securities4 7c7 ,reliance on contractors /udy & report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all conduct a /udy & submit to ! appropriate congressional committees & ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates a report evaluat+ ! work=ce composition ( ! ,association 9 consid]ation ( ! critical functions ( ! ,association1 :i* %all-- 7#a7 analyze-- 7,a7 ! numb] ( ,f$]al employees & contractors by type ( role or position t ! ,association uses to p]=m compliance1 risk managem5t1 & o!r critical functions1 & ! co/ ( a full-"t equival5t ,f$]al employee v]sus a contractor = comp>able roles or positions2 7,b7 ! ext5t to :i* ! ,association c\ld use ,f$]al employees in/ead ( contractors by role or position to p]=m critical functions2 7,c7 ! types & am\nts ( co/s t ! ,association c\ld save by us+ ,f$]al employees in/ead ( contractors1 :]e possible1 to p]=m critical functions1 su* z sav+s f diff]5ces 9 pay & n hav+ to ov]see contractors2 7,d7 :e!r ! ,association w\ld face any legal or o!r ob/acles 9 us+ ,f$]al employees in/ead ( contractors to p]=m critical functions2 & 7,e7 ! pot5tial negative & positive effects ( us+ ,f$]al employees in/ead ( contractors on ! ability ( ! ,association to a*ieve ! mission ( ! ,association2 & 7#b7 if w>rant$1 include recomm5dations = any necess>y am5dm5ts to ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agja et seq47 to *ange ! fund+ /ructure ( ! ,association4 7d7 ,comp5sation /ructure /udy & report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all conduct a /udy & submit to ! appropriate congressional committees & ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates a report evaluat+ ! work=ce *all5ges ( ! ,association1 :i* %all-- 7#a7 analyze1 quantitatively to ! ext5t possible1 ! *all5ges ( ! ,association 9 hir+ & reta9+ /aff1 includ+ comp5sation1 dur+ ! #c-ye> p]iod prec$+ ! report2 7#b7 id5tify & summ>ize ! options t ! ,association has pursu$ )9 exi/+ au?orities to address ! /aff+ *all5ges ( ! ,association1 includ+ :i* ag5cies or (fices 7 involv$1 & ! key decisions & outcomes ( ^? ef=ts2 7#c7 id5tify options t ! ,association did n pursue )9 exi/+ au?orities to address ! /aff+ *all5ges ( ! ,association & ! reasons = n pursu+ ^? options2 7#d7 id5tify & evaluate options outside ( exi/+ au?orities t ! ,association c\ld use to address ! /aff+ *all5ges ( ! ,association & ! pot5tial b5efits & co/s ( ^? options2 & 7#e7 if w>rant$1 include recomm5dations = any necess>y am5dm5ts to ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agja et seq47 to *ange h[ ! ,gov]nm5t ,national ,mortgage ,association sets comp5sation4 7e7 ,review ( re=ms to ,g9nie ,mae's organizational & ov]sight /ructure ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all conduct a /udy & submit to ! appropriate congressional committees a report on alt]nate ways ( ov]see+ ! ,association to address increas+ risks1 :i* %all-- 7#a7 review ! reports submitt$ by ! ,secret>y "u subsections 7b71 7c71 & 7d7 to det]m9e if ! reports address$ ! requir$ provisions & assess any recomm5dations made 9 ^? reports2 7#b7 id5tify key *all5ges or con/ra9ts t ! ,association has fac$ "u ! gov]nance & fund+ /ructure ( ! ,association z a gov]nm5t corporation )9 ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t2 7#c7 id5tify alt]native models "u :i* ! gov]nance & fund+ /ructure ( ! ,association c\ld be reorganiz$ to bett] support h\s+ policy priorities 9 ! ,unit$ ,/ates & to ensure t ! ,association fulfill+ ! role ( increas+ liquidity 9 ! h\s+ f9ance m>ket :ile also m9imiz+ risk to ! taxpay]2 7#d7 evaluate ! pot5tial positive & negative impacts ( ! models describ$ 9 p>agraph 7#c7 on ! ,association1 ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 & o!r /akehold]s2 7#e7 obta9 input f relevant /akehold]s1 su* z ,f$]al entities1 l5d]s1 issu]s1 inve/ors1 af=dable h\s+ advocates1 & rese>*]s1 on re=ms to ! organizational & ov]sight /ructure ( ! ,association2 7#f7 consid] ! h\s+ f9ance sy/em & ways 9 :i* alt]native ov]sight /ructures ( ! ,association c\ld impact ! sy/em2 & 7#g7 review su* o!r in=mation z ! ,comptroll] ,g5]al det]m9es relevant4 ,v ,dep>tm5t ( ! ,treasury #eja4 ,sav+ ,f$]al funds by au?oriz+ *anges to ! composition ( circulat+ co9s 7a7 ,section #eaab ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 7bb7 ,composition ( circulat+ co9s 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( law1 & subject to ! o!r provisions ( ?is subsection1 ! ,director ( ! ,unit$ ,/ates ,m9t 7ref]r$ to 9 ?is subsection z ! ,director71 9 consultation ) ! ,secret>y1 may modify ! metallic composition ( circulat+ co9s to a new metallic composition 7includ+ by prescrib+ reasonable manufactur+ tol]ances ) respect to ^? co9s7 if a /udy & analysis conduct$ by ! ,unit$ ,/ates ,m9t1 includ+ solicitation ( input1 includ+ input on acceptor tol]ances & requirem5ts1 f indu/ry /akehold]s :o c\ld be affect$ by *anges 9 ! composition ( circulat+ co9s1 indicates t ! modification w-- 7,a7 r$uce co/s incurr$ by ! taxpay]s ( ! ,unit$ ,/ates2 7,b7 be seamless1 :i* %all mean ! same diamet] & weight z ,unit$ ,/ates co9age be+ m9t$ on ! date ( enactm5t ( ?is subsection & t ! co9s w "w int]*angeably 9 mo/ co9 acceptors us+ electromagnetic signature te*nology2 & 7,c7 h z m9imal an adv]se impact z possible on ! public & /akehold]s4 7#b7 ,notification to ,congress ,on ! date t is at lea/ #ij legislative days be=e ! date on :i* ! ,director beg9s mak+ a modification describ$ 9 p>agraph 7#a71 ! ,director %all submit to ,congress notice t-- 7,a7 provides a ju/ification = ! modification1 includ+ ! support = t modification 9 ! /udy & analysis requir$ "u p>agraph 7#a7 ) respect to ! modification2 7,b7 describes h[ ! modification w r$uce co/s incurr$ by ! taxpay]s ( ! ,unit$ ,/ates2 7,c7 c]tifies t ! modification w be seamless1 z describ$ 9 p>agraph 7#a77;,b72 & 7,d7 c]tifies t ! modification w h z m9imal an adv]se impact z possible on ! public & /akehold]s4 7#c7 ,congressional au?ority ,! ,director may beg9 mak+ a modification propos$ "u ?is subsection n e>li] ?an ! date t is #ij legislative days aft] ! date on :i* ! ,director submits to ,congress ! notice requir$ "u p>agraph 7#b7 ) respect to t modification1 unless ,congress1 dur+ ! p]iod ( #ij legislative days beg9n+ on ! date on :i* ! ,director submits t notice-- 7,a7 f9ds t ! modification is n ju/ifi$ 9 light ( ! in=mation conta9$ 9 t notice2 & 7,b7 enacts a jo9t resolution ( disapproval ( ! propos$ modification4 7#d7 ,proc$ures ,= purpose ( p>agraph 7#c7-- 7,a7 a jo9t resolution ( disapproval is a jo9t resolution ! matt] aft] ! resolv+ clause ( :i* is z foll[s3 ,t ,congress disapproves ! modification submitt$ by ! ,director ( ! ,unit$ ,/ates ,m9t42 & 7,b7 ! proc$ural rules 9 ! ,h\se ( ,repres5tatives & ! ,s5ate = a jo9t resolution ( disapproval describ$ "u p>agraph 7#c7 %all be ! same z provid$ = a jo9t resolution ( disapproval "u *apt] #h ( title #e1 ,unit$ ,/ates ,code4 4 7b7 ,det]m9ation ( budget>y effects ,! budget>y effects ( ?is ,act1 = ! purpose ( comply+ ) ! ,/atutory ,pay-,z-,y-,g-,act ( #bjaj1 %all be det]m9$ by ref]5ce to ! late/ /atem5t titl$ ,budget>y ,effects ( ,,paygo ,legislation = ?is ,act1 submitt$ = pr9t+ 9 ! ,congressional ,record by ! ,*airman ( ! ,s5ate ,budget ,committee1 provid$ t su* /atem5t has be5 submitt$ prior to ! vote on passage4 #ejb4 ,r$uc+ ! res\rce dra9 by requir+ t electronically prep>$ pap] returns include scannable code 7a7 ,9 ,g5]al ,subsection 7e7 ( section #fjaa ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#h7 ,special rule = returns prep>$ electronically & submitt$ on pap] ,! ,secret>y %all require t any return ( tax :i* is prep>$ electronically1 b is pr9t$ & fil$ on pap]1 be> a code :i* c1 :5 scann$1 conv]t su* return to electronic =mat4 4 7b7 ,con=m+ am5dm5t ,p>agraph 7#a7 ( section #fjaa7;e7 ( su* ,code is am5d$ by /rik+ p>agraph 7#c7 & ins]t+ p>agraphs 7#c7 & 7#h74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to returns ( tax ! due date = :i* 7det]m9$ )\t reg>d to ext5sions7 is aft] ,decemb] #ca1 #bjba4 #ejc4 ,protect+ ! security ( taxpay] in=mation held by ?ird-p>ty provid]s by improv+ coord9ation & e/abli%+ m9imum security requirem5ts to r$uce fragm5tation 7a7 ,regulation ( security requirem5ts = tax return prep>]s & au?oriz$ ,e-,file provid]s 7#a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all prescribe /&>ds = ! security ( return in=mation & in=mation te*nology sy/ems t are consi/5t ) security /&>ds issu$ by ! ,national ,in/itute = ,/&>ds & ,te*nology4 7#b7 ,p5alty = failure to secure in=mation 7,a7 ,9 g5]al ,section #ffie ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subsection 7h7 z subsection 7i7 & by ins]t+ aft] subsection 7g7 ! foll[+ new subsection3 7h7 ,failure ,to comply ) electronic return security /&>ds ,any p]son :o is au?oriz$ by ! ,secret>y to provide electronic fil+ s]vices & :o fails to secure return in=mation & in=mation te*nology /&>ds 9 su* mann] z prescrib$ by ! ,secret>y %all pay a p5alty ( #ejj = ea* su* failure4 ,! maximum p5alty impos$ "u ?is subsection on any p]son ) respect to any cal5d> ye> %all n exce$ #be1jjj4 4 7,b7 ,inflation adju/m5t ,section #ffie7;i7 ( su* ,code1 z r$esignat$ by subp>agraph 7,a71 is am5d$-- 7i7 by r$esignat+ p>agraph 7#b7 z p>agraph 7#c72 7ii7 by ins]t+ aft] p>agraph 7#a7 ! foll[+ new p>agraph3 7#b7 ,failure to comply ) security /&>ds ,9 ! case ( any failure describ$ 9 subsection 7h7 9 a cal5d> ye> beg9n+ aft] #bjbb1 ea* ( ! doll> am\nts "u subsection 7h7 %all be increas$ by an am\nt equal to su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> det]m9$ by sub/itut+ cal5d> ye> #bjba = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 2 & 7iii7 9 p>agraph 7#c7 7z r$esignat$ by clause 7i771 by /rik+ p>agraph 7#a7 & ins]t+ p>agraph 7#a7 or 7#b74 7,c7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to failures describ$ 9 section #ffie7;h7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by subp>agraph 7,a77 aft] ! date t is #fj days aft] ! date ! ,secret>y prescribes ! /&>ds requir$ "u p>agraph 7#a74 7b7 ,coord9ation ( taxpay] in=mation security ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,commission] ( ,int]nal ,rev5ue %all develop an organizational plan to create a c5traliz$ body or o!r gov]nance /ructure to coord9ate all aspects ( ! ,int]nal ,rev5ue ,s]vice's ef=ts to protect return in=mation :ile be+ held or transmitt$ by ^? au?oriz$ by ! ,int]nal ,rev5ue ,s]vice to provide electronic fil+ s]vices4 ,! ,commission] %all transmit ! organizational plan to ! ,committee on ,f9ance ( ! ,s5ate1 ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ( ! ,s5ate1 ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives1 & ! ,committee on ,ov]sight & ,re=m ( ! ,h\se ( ,repres5tatives4