[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 974 Engrossed in House (EH)]

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116th CONGRESS
  1st Session
                                H. R. 974

_______________________________________________________________________

                                 AN ACT


 
   To amend the Federal Reserve Act to require the Vice Chairman for 
Supervision of the Board of Governors of the Federal Reserve System to 
           provide a written report, 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 ``Federal Reserve Supervision 
Testimony Clarification Act''.

SEC. 2. VICE CHAIRMAN FOR SUPERVISION REPORT REQUIREMENT.

    Paragraph (12) of section 10 of the Federal Reserve Act (12 U.S.C. 
247b) is amended--
            (1) by redesignating such paragraph as paragraph (11); and
            (2) in such paragraph--
                    (A) by striking ``shall appear'' and inserting 
                ``shall provide written testimony and appear''; and
                    (B) by adding at the end the following: ``If, at 
                the time of any appearance described in this paragraph, 
                the position of Vice Chairman for Supervision is 
                vacant, the Chairman or their designee shall appear 
                instead and provide the required written testimony.''.

SEC. 3. DETERMINATION OF BUDGETARY EFFECTS.

    The budgetary effects of this Act, for the purpose of complying 
with the Statutory Pay-As-You-Go Act of 2010, shall be determined by 
reference to the latest statement titled ``Budgetary Effects of PAYGO 
Legislation'' for this Act, submitted for printing in the Congressional 
Record by the Chairman of the House Budget Committee, provided that 
such statement has been submitted prior to the vote on passage.

            Passed the House of Representatives March 11, 2019.

            Attest:

                                                                 Clerk.
116th CONGRESS

  1st Session

                               H. R. 974

_______________________________________________________________________

                                 AN ACT

   To amend the Federal Reserve Act to require the Vice Chairman for 
Supervision of the Board of Governors of the Federal Reserve System to 
           provide a written report, and for other purposes.