[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 409 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                 S. 409

  To amend the Commodity Exchange Act to modify the Commodity Futures 
  Trading Commission Customer Protection Fund, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 24, 2021

  Mr. Grassley (for himself, Ms. Hassan, Ms. Ernst, and Ms. Baldwin) 
introduced the following bill; which was read twice and referred to the 
           Committee on Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                                 A BILL


 
  To amend the Commodity Exchange Act to modify the Commodity Futures 
  Trading Commission Customer Protection Fund, 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. COMMODITY FUTURES TRADING COMMISSION CUSTOMER PROTECTION 
              FUND.

    Section 23(g) of the Commodity Exchange Act (7 U.S.C. 26(g)) is 
amended--
            (1) in paragraph (2)(A), by striking ``(a)'' and inserting 
        ``(b)''; and
            (2) in paragraph (3)--
                    (A) in subparagraph (A), by striking 
                ``$100,000,000'' and inserting ``$150,000,000'';
                    (B) by redesignating subparagraphs (A) through (C) 
                as clauses (i) through (iii), respectively, and 
                indenting appropriately;
                    (C) in the matter preceding clause (i) (as so 
                redesignated), by striking ``There shall'' and 
                inserting the following:
                    ``(A) In general.--There shall'';
                    (D) in subparagraph (A)(ii) (as so designated), by 
                striking ``subparagraph (A)'' and inserting ``clause 
                (i)''; and
                    (E) by adding at the end the following:
                    ``(B) Separate account for education initiatives 
                and administrative expenses.--
                            ``(i) In general.--Any amounts contained 
                        in, deposited into, or credited to the Fund 
                        under subparagraph (A) may be deposited into or 
                        credited to a separate account in the Fund 
                        described in clause (ii), unless the balance of 
                        the separate account at the time the amounts 
                        are deposited or credited exceeds $10,000,000.
                            ``(ii) Use of separate account.--The 
                        separate account referred to in clause (i) 
                        shall be available to the Commission, without 
                        further appropriation or fiscal year 
                        limitation, for--
                                    ``(I) the purpose described in 
                                subparagraph (B) of paragraph (2); and
                                    ``(II) the funding of 
                                administrative and salary expenses 
                                necessary for personnel to carry out 
                                the activities described in 
                                subparagraphs (A) and (B) of that 
                                paragraph.
                            ``(iii) Sunset.--The authority to deposit 
                        amounts into, or credit amounts to, the 
                        separate account referred to in clause (i) 
                        shall expire on October 1, 2021, and any 
                        remaining unobligated balances in that separate 
                        account may be transferred at any time 
                        thereafter to the Fund.''.
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