This part closes the securities regulator's reserve fund. The fund may still be drawn on until October 1, 2025 for work already under way. After that its money goes to the Treasury and the account is shut.
“Section 4 of the Securities Exchange Act of 1934 (15 U.S.C. 78d) is amended-- (1) by striking subsection (i); and”
The section strikes subsection (i) of section 4 of the Securities Exchange Act of 1934 (15 U.S.C. 78d) and redesignates subsections (j) and (k) as (i) and (j).
What the document actually says
“Section 4 of the Securities Exchange Act of 1934 (15 U.S.C. 78d) is amended-- (1) by striking subsection (i); and”
That sentence, in plain words
One subsection is taken out of a 1934 law. Nothing is put in its place.
What this is about
Two later subsections then move up to fill the gap. What the struck subsection said is not recorded here. That older law is not indexed.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Securities and Exchange CommissionHow: statuteSec. 30003 in the PDF
What the document says
“The Fund shall be available to the Commission, without further appropriation or fiscal year limitation, for paying awards to whistleblowers as provided in subsection (b).”
The section rewrites section 21F(g)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 78u-6(g)(2)) so that the Fund is available to the Commission, without further appropriation or fiscal year limitation, for paying whistleblower awards as provided in subsection (b).
What the document actually says
“The Fund shall be available to the Commission, without further appropriation or fiscal year limitation, for paying awards to whistleblowers as provided in subsection (b).”
That sentence, in plain words
The fund stays open to the Commission. It does not need a fresh grant from Congress. It is not tied to one budget year. It pays awards to whistleblowers.
What this is about
A whistleblower is someone who reports wrongdoing. The awards reward that. This is a different fund from the one being closed.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “can”Who acts: Securities and Exchange CommissionHow: statuteSec. 30003 in the PDF
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”
That sentence, in plain words
The Commission may still spend from the fund for a while. That runs until October 1, 2025. Only money already committed may be spent.
What this is about
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.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Securities and Exchange Commission, Secretary of the TreasuryHow: statuteSec. 30003 in the PDF
What the document says
“Effective on October 1, 2025, the obligated and unobligated balances of amounts in the Securities and Exchange Commission Reserve Fund shall be transferred to the general fund of the Treasury.”
The section transfers both the committed and the uncommitted balances of the Reserve Fund to the general fund of the Treasury on October 1, 2025, and provides that for the purposes of section 1555 of title 31, United States Code the Fund is considered closed once that transfer is made, and may not be used for any purpose after that.
What the document actually says
“Effective on October 1, 2025, the obligated and unobligated balances of amounts in the Securities and Exchange Commission Reserve Fund shall be transferred to the general fund of the Treasury.”
That sentence, in plain words
On October 1, 2025 the fund is emptied. All of it goes to the Treasury. That covers cash already promised and cash not.
What this is about
The account is then treated as closed. It may not be drawn on again. That holds for any purpose at all.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Each distinct thing the section does: striking the reserve fund provision, rewriting the whistleblower fund provision, the transition period, the transfer of remaining balances, and the closing of the account.
The redesignation of subsections (j) and (k) as (i) and (j), which moves existing text without changing what it says.
The section works by amending the Securities Exchange Act of 1934 and refers to section 1555 of title 31, United States Code, neither of which is indexed here, so what the struck provision said cannot be checked against anything on this site.
