[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1962 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 1962

To provide for the appointment of a Chief Financial Officer and Deputy 
   Chief Financial Officer in the Executive Office of the President.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 19, 1997

Mr. Horn (for himself, Mr. English of Pennsylvania, Mr. Klug, Mr. Davis 
  of Virginia, Mr. Mica, Mr. Shays, and Mr. Sessions) introduced the 
   following bill; which was referred to the Committee on Government 
                          Reform and Oversight

_______________________________________________________________________

                                 A BILL


 
To provide for the appointment of a Chief Financial Officer and Deputy 
   Chief Financial Officer in the Executive Office of the President.

    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 ``Presidential and Executive Office 
Financial Accountability Act of 1997''.

SEC. 2. FINANCIAL OFFICERS WITHIN THE EXECUTIVE OFFICE OF THE 
              PRESIDENT.

    (a) Chief Financial Officer.--Section 901 of title 31, United 
States Code, is amended by adding at the end the following:
    ``(c)(1) There shall be within the Executive Office of the 
President a Chief Financial Officer, who shall be appointed by the 
President from among individuals meeting the standards described in 
subsection (a)(3).
    ``(2) The Chief Financial Officer under this subsection shall have 
the same authority and shall perform the same functions as apply in the 
case of a Chief Financial Officer under section 902.
    ``(3) The Director of the Office of Management and Budget shall 
prescribe any regulations which may be necessary to ensure that, for 
purposes of implementing paragraph (2), the Executive Office of the 
President shall, to the extent practicable and appropriate, be treated 
(including for purposes of financial statements under section 3515) in 
the same way as an agency described in subsection (b).
    ``(4) The President shall designate an employee of the Executive 
Office of the President (other than the Chief Financial Officer or 
Deputy Chief Financial Officer), who shall be deemed ``the head of the 
agency'' for purposes of carrying out section 902, with respect to the 
Executive Office of the President.''.
    (b) Deputy Chief Financial Officer.--Section 903 of title 31, 
United States Code, is amended by adding at the end the following:
    ``(c)(1) There shall be within the Executive Office of the 
President a Deputy Chief Financial Officer, who, notwithstanding any 
provision of subsection (b), shall be appointed by the President from 
among individuals meeting the standards described in section 901(a)(3).
    ``(2) The Deputy Chief Financial Officer under this subsection 
shall have the same authority and shall perform the same functions as 
apply in the case of the Deputy Chief Financial Officer of an agency 
described in subsection (b).''.
    (c) Technical and Conforming Amendments.--Section 503(a) of title 
31, United States Code, is amended--
            (1) in paragraph (7) by striking ``respectively.'' and 
        inserting ``respectively (excluding any officer appointed under 
        section 901(c) or 903(c)).''; and
            (2) in paragraph (8) by striking ``Officers.'' and 
        inserting ``Officers (excluding any officer appointed under 
        section 901(c) or 903(c)).''.
    (d) Effective Date.--This Act shall take effect on October 1, 1997.
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