[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6560 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 6560

       To eliminate or modify certain mandates of the Government 
             Accountability Office, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 2, 2022

 Ms. Brown of Ohio (for herself, Mrs. Carolyn B. Maloney of New York, 
 and Mr. Keller) introduced the following bill; which was referred to 
the Committee on Financial Services, and in addition to the Committees 
      on Energy and Commerce, Ways and Means, Transportation and 
  Infrastructure, House Administration, Oversight and Reform, and the 
 Judiciary, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
       To eliminate or modify certain mandates of the Government 
             Accountability Office, 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 ``GAO Audit Mandates Revision Act of 
2022''.

SEC. 2. AUDITS MODIFIED.

    (a) Export-Import Bank Loan and Guarantee Transactions.--Section 
17(a) of the Export-Import Bank Reauthorization Act of 2012 (12 U.S.C. 
635a-6(a)) is amended by striking ``and periodically (but not less 
frequently than every 4 years) thereafter,''.
    (b) Patient-Centered Outcomes Research Institute.--Section 
1181(g)(2) of the Social Security Act (42 U.S.C. 1320e(g)(2)) is 
amended--
            (1) in the paragraph heading, by striking ``Annual'';
            (2) in subparagraph (A)--
                    (A) by striking clause (i); and
                    (B) by redesignating clauses (ii) through (vi) as 
                clauses (i) through (v), respectively; and
            (3) by amending subparagraph (B) to read as follows:
                    ``(B) Reports.--Not later than April 1 of each year 
                for which a review was conducted under subparagraph 
                (A), the Comptroller General of the United States shall 
                submit to Congress a report containing the results of 
                the review with respect to preceding years, together 
                with recommendations for such legislation and 
                administrative action as the Comptroller General 
                determines appropriate.''.
    (c) Bureau of Consumer Financial Protection.--
            (1) Audit.--Section 1017(a)(5) of the Dodd-Frank Wall 
        Street Reform and Consumer Protection Act (12 U.S.C. 
        5497(a)(5)) is amended to read as follows:
            ``(5) Audit of the bureau.--The Bureau shall prepare and 
        submit to Congress and the Director of the Office of Management 
        and Budget an audited financial statement for each fiscal year, 
        covering all accounts and associated activities of each office, 
        bureau, and activity of the Bureau. The audited financial 
        statement shall include the balance sheet, the statement of net 
        cost, the statement of changes in net position, the statement 
        of budgetary resources, and such comments and information as 
        may be deemed necessary to inform Congress of the financial 
        operations and condition of the Bureau. The Office of Inspector 
        General of the Board of Governors of the Federal Reserve System 
        and the Bureau of Consumer Financial Protection shall provide 
        for an audit of the financial statements of the Bureau on an 
        annual basis by an independent external auditor in accordance 
        with the United States generally accepted government auditing 
        standards as may be prescribed by the Comptroller General of 
        the United States.''.
            (2) Repeal.--
                    (A) In general.--Section 1016A of the Consumer 
                Financial Protection Act of 2010 (12 U.S.C. 5496a) is 
                repealed.
                    (B) Clerical amendment.--The table of contents 
                under section 1(b) of the Dodd-Frank Wall Street Reform 
                and Consumer Protection Act is amended by striking the 
                item relating to section 1016A.
            (3) Application.--The amendments made by paragraphs (1) and 
        (2) shall apply to any audit performed under section 1017 of 
        the Dodd-Frank Wall Street Reform and Consumer Protection Act 
        (12 U.S.C. 5497) or section 1016A of the Consumer Financial 
        Protection Act of 2010 (12 U.S.C. 5496a), as amended by 
        paragraphs (1) and (2), with respect to a fiscal year beginning 
        on or after October 1, 2022.
    (d) Federal Housing Finance Agency.--
            (1) In general.--Section 1316 of the Federal Housing 
        Enterprises Financial Safety and Soundness Act of 1992 (12 
        U.S.C. 4516) is amended--
                    (A) in subsection (g)(4), by striking ``Comptroller 
                General of the United States'' and inserting ``auditor 
                of the financial statements of the Agency''; and
                    (B) by striking subsection (h) and inserting the 
                following:
    ``(h) Audit of Agency.--The Agency shall prepare and submit to 
Congress and the Director of the Office of Management and Budget an 
audited financial statement for each fiscal year, covering all accounts 
and associated activities of each office, bureau, and activity of the 
Agency. The audited financial statement shall include the consolidated 
balance sheet, the consolidated statement of net cost, the consolidated 
statement of changes in net position, the combined statement of 
budgetary resources, and such comments and information as may be deemed 
necessary to inform Congress of the financial operations and condition 
of the Agency. The Agency shall provide for an audit of the financial 
statements of the Agency on an annual basis by an independent external 
auditor in accordance with the United States generally accepted 
government auditing standards as may be prescribed by the Comptroller 
General of the United States.''.
            (2) Application.--The amendment made by paragraph (1) shall 
        apply to any audit performed under section 1316 of the Federal 
        Housing Enterprises Financial Safety and Soundness Act of 1992 
        (12 U.S.C. 4516), as amended, with respect to a fiscal year 
        beginning on or after October 1, 2022.
    (e) Federal Civil Penalties Inflation Adjustment Act of 1990.--The 
Federal Civil Penalties Inflation Adjustment Act of 1990 (28 U.S.C. 
2461 note) is amended by striking section 7(c).
    (f) Report on Highway Trust Fund Administrative Expenditures.--
Section 1433 of the Fixing America's Surface Transportation Act (23 
U.S.C. 101 note) is amended in subsection (b) by striking ``and every 5 
years thereafter''.
    (g) United States Capitol Preservation Commission.--Section 804 of 
the Arizona-Idaho Conservation Act of 1988 (2 U.S.C. 2084) is repealed.
    (h) Senate Preservation Fund.--Section 3(c)(6) of the Legislative 
Branch Appropriations Act, 2004 (2 U.S.C. 2108(c)(6)) is repealed.
    (i) Review of the Annual Audit of the Congressional Award 
Foundation.--Section 107 of the Congressional Award Act (2 U.S.C. 807) 
is amended--
            (1) in subsection (b), by striking ``and to the Comptroller 
        General of the United States''; and
            (2) by striking subsection (c).
    (j) GAO Recurring Reporting Requirement in GPRAMA.--Subsection 
(b)(2)(C)(ii) of section 15 of the GPRA Modernization Act of 2010 
(Public Law 111-352) is amended--
            (1) in clause (I), by striking ``; and'' and inserting a 
        semicolon;
            (2) in clause (II), by striking the period at the end and 
        inserting ``; and''; and
            (3) by adding at the end the following:
                                    ``(III) beginning after the date of 
                                enactment of this subclause, periodic 
                                reports on the evaluation under clause 
                                (i).''.
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