Regulatory Roundup - Oct. 12-18

By:
Ruth Singleton
Published Date:
Oct 18, 2021

CBO 

Cost Estimate 
S. 1289, Marine Mammal Research and Response Act of 2021 
 
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 12, 2021

Cost Estimate 
S. 1319, VA Quality Health Care Accountability and Transparency Act  
 
As ordered reported by the Senate Committee on Veterans’ Affairs on July 28, 2021

Cost Estimate 
S. 1927, CAPTA Reauthorization Act of 2021 
 
As ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on June 10, 2021

Cost Estimate 
H.R. 4626, VA Assessment by Independent Measures Act 
 
As ordered reported by the House Committee on Veterans’ Affairs on July 28, 2021

Cost Estimate 
S. 2792, National Defense Authorization Act for Fiscal Year 2022 
 
As reported by the Senate Committee on Armed Services on September 22, 2021

Cost Estimate 
S. 612, Improving Housing Outcomes for Veterans Act of 2021 
 
As ordered reported by the Senate Committee on Veterans’ Affairs on July 28, 2021

Presentation 
CBO’s Budget and Economic Analysis During the Pandemic 
 
Presentation by Phillip Swagel, CBO’s Director, at Brown University.

Blog Post 
Presentations on CBO’s Budget and Economic Analysis During the Pandemic  
 
CBO’s Director, Phillip Swagel, discusses the agency’s budget and economic analysis during the pandemic.

Cost Estimate 
H.R. 4094, One-Stop Pilot Program Act of 2021 
 
As passed by the House of Representatives on September 29, 2021

Cost Estimate 
S. 1894, Regional Ocean Partnership Act  
 
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on June 16, 2021

FASB

Financial Accounting Standards Advisory Council
October 18, 2021--The Financial Accounting Standards Adivsory Council (FASCA) held its quarterly meeting on Thursday, September 30, 2021.
Meeting Recap

GAO 

Rare Diseases
Although Limited, Available Evidence Suggests Medical and Other Costs Can Be Substantial 
GAO-22-104235
Published: Oct 18, 2021.
Publicly Released: Oct 18, 2021.
In the U.S., about 30 million people—half of them children—have a rare disease. Many of these diseases are chronic, worsen over time, and are life-threatening. It can take years of testing and misdiagnoses to get a correct diagnosis; in that time, a patient's health can get worse.  

National Weather Service  
Reform Efforts Could Benefit from Additional Actions and Continued Attention 
GAO-22-105449
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
In 2017, the National Weather Service started an effort to reform the agency and better prepare the U.S. for extreme weather events.  

Small Business Contracting  
Actions Needed to Implement and Monitor DOD's Small Business Strategy 
GAO-22-104621
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
In 2019, Congress directed DOD to develop a strategy to better engage with small businesses and coordinate small business programs across the department. We analyzed trends in DOD contracting. From FY 2011 to 2020, DOD spending on contracts with small businesses increased.  

COVID-19 Contracting  
Indian Health Service Used Flexibilities to Meet Increased Medical Supply Needs 
GAO-22-104745
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
The Indian Health Service provides health care to over 2 million American Indians and Alaska Natives. These groups have been disproportionately vulnerable to negative outcomes from COVID-19.  

Small Business Research Programs 
Agencies Should Further Improve Award Timeliness 
GAO-22-104677
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
Federal agencies participating in the Small Business Innovation Research and Small Business Technology Transfer programs awarded over $3 billion to small businesses in FY 2020 to develop and commercialize new technologies. 
Released on Oct. 12, 2021 

National Weather Service  
Additional Actions Needed to Improve the Agency's Reform Efforts 
GAO-21-103792
Published: Sep 29, 2021.
Publicly Released: Oct 12, 2021.
In 2017, the National Weather Service started an effort to reform the agency and better prepare the U.S. for extreme weather events.  

IASB 

15 Oct 2021
Meeting 
International Accounting Standards Board October 2021 meeting papers available 

14 Oct 2021
Webcast 
Watch an overview of the Exposure Draft Subsidiaries without Public Accountability: Disclosures 

14 Oct 2021
Meeting 
Due Process Oversight Committee October 2021 meeting papers available

12 Oct 2021
Feature 
Article: Business Combinations under Common Control—filling a gap in IFRS Standards

11 Oct 2021
Podcast 
October 2021 IFRS Interpretations Committee podcast now available 

IRS 

IRS joins international organizations in fighting charity fraud during special awareness week  
IR-2021-205, October 18, 2021 — The Internal Revenue Service is joining international organizations and other regulators in highlighting Charity Fraud Awareness Week, October 18-22.

IRS extends videoconferencing to large business taxpayers  
IR-2021-204, October 18, 2021 — The Internal Revenue Service today announced that beginning October 18, the IRS’s large business division will accept all taxpayer requests to meet with IRS employees using secure videoconferencing.

IRS sets forth required information for a valid research credit claim for refund 
IR-2021-203, October 15, 2021 — The IRS has set forth the information that taxpayers will be required to include for a research credit claim for refund to be considered valid.

IRS updates process for frequently asked questions on new tax legislation and addresses reliance concerns  
IR-2021-202, October 15, 2021 — Today, the Internal Revenue Service is updating its process for certain frequently asked questions (FAQs) on newly enacted tax legislation.

IRS: Families now receiving October Child Tax Credit payments; still time for eligible families to sign up for advance payments  
IR-2021-201, October 15, 2021 — The Internal Revenue Service and the Treasury Department announced today that millions of American families are now receiving their advance Child Tax Credit (CTC) payment for the month of October.

IRS announces 2022 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants  
IR 2021-200, October 12, 2021 — The Internal Revenue Service recently awarded over $41 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation. 

NYS 

Extension of Certain October 15 Deadlines for Taxpayers Affected by Post-Tropical Depression Ida
October 12, 2021

Acting Superintendent of Financial Services Adrienne A. Harris Announces the Return of A Nazi Looted Drawing to the Heirs of Dr. Arthur Feldmann 
October 15, 2021 

Governor Hochul Proclaims October 2021 as Cyber Security Awareness Month  
October 14, 2021

Acting Superintendent Adrienne A. Harris Announces DFS Will Require Continuing Education in Flood Insurance for Insurance Producers as Flood Risk Increases Due to Climate Change 
October 13, 2021

The Department of Financial Services and Empire State Development Award $5 Million in Grants to Expand Affordable Banking Services in Underserved Communities  
October 7, 2021

SEC  

SEC Awards $40 Million to Two Whistleblowers
2021-211 Oct. 15, 2021 — The Securities and Exchange Commission today announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. 

SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation
2021-210 Oct. 14, 2021 —  The Securities and Exchange Commission today reopened the comment period on proposed rules for listing standards for the recovery of erroneously awarded compensation. 

SEC Modernizes Filing Fee Disclosure and Payment Methods 
2021-209 Oct. 13, 2021 — The Securities and Exchange Commission today adopted amendments to modernize filing fee disclosure and payment methods. Operating companies and investment companies (funds) pay filing fees when engaging in certain transactions, including registered securities offerings, tender offers, and mergers and acquisitions. 

 

 

 

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