The reserve fund may still be drawn on until October 1, 2025
What the document says“During the period beginning on the date of enactment of this Act and ending on October 1, 2025, the Securities and Exchange Commission may expend amounts in the Securities and Exchange Commission Reserve Fund that were obligated before the date of enactment of this Act”
The section lets the Commission, from enactment through October 1, 2025, spend money in the Reserve Fund that was already committed before enactment, for any program, project or activity that was ongoing the day before enactment, in accordance with the struck subsection (i) as it stood the day before enactment.
What the document actually says“During the period beginning on the date of enactment of this Act and ending on October 1, 2025, the Securities and Exchange Commission may expend amounts in the Securities and Exchange Commission Reserve Fund that were obligated before the date of enactment of this Act”
The Commission may still spend from the fund for a while. That runs until October 1, 2025. Only money already committed may be spent.
The work must have been under way before this law. New work may not be paid for from the fund. The old rule still governs how it is spent.
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