[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1262 Referred in Senate (RFS)]

  2d Session
                                H. R. 1262


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 27, 1998

Received; read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 AN ACT


 
To authorize appropriations for the Securities and Exchange Commission 
        for fiscal years 1998 and 1999, 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 ``Securities and Exchange Commission 
Authorization Act of 1997''.

SEC. 2. AUTHORIZATION OF APPROPRIATIONS.

    Section 35 of the Securities Exchange Act of 1934 (15 U.S.C. 78kk) 
is amended to read as follows:

``SEC. 35. AUTHORIZATION OF APPROPRIATIONS.

    ``(a) In General.--In addition to any other funds authorized to be 
appropriated to the Commission, there are authorized to be appropriated 
to carry out the functions, powers, and duties of the Commission--
            ``(1) $320,000,000 for fiscal year 1998; and
            ``(2) $342,700,000 for fiscal year 1999.
    ``(b) Miscellaneous Expenses.--Funds appropriated pursuant to this 
section are authorized to be expended--
            ``(1) not to exceed $3,000 per fiscal year, for official 
        reception and representation expenses;
            ``(2) not to exceed $10,000 per fiscal year, for funding a 
        permanent secretariat for the International Organization of 
        Securities Commissions; and
            ``(3) not to exceed $100,000 per fiscal year, for expenses 
        for consultations and meetings hosted by the Commission with 
        foreign governmental and other regulatory officials, members of 
        their delegations, appropriate representatives, and staff to 
        exchange views concerning developments relating to securities 
        matters, for development and implementation of cooperation 
        agreements concerning securities matters and provision of 
        technical assistance for the development of foreign securities 
        markets, such expenses to include necessary logistic and 
        administrative expenses and the expenses of Commission staff 
        and foreign invitees in attendance at such consultations and 
        meetings, including--
                    ``(A) such incidental expenses as meals taken in 
                the course of such attendance;
                    ``(B) any travel or transportation to or from such 
                meetings; and
                    ``(C) any other related lodging or subsistence.''.

            Passed the House of Representatives November 13, 1997.

            Attest:

                                                ROBIN H. CARLE,

                                                                 Clerk.