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Regulatory Roundup - September 13-19

By:
Ruth Singleton
Published Date:
Sep 19, 2022

CBO

Cost Estimate 
H.R. 6734, Keep America’s Refuges Operational Act of 2022 
  
As ordered reported by the House Committee on Natural Resources on June 15, 2022 

Cost Estimate 
H.R. 7566, Stop Human Trafficking in School Zones Act 
  
As ordered reported by the House Committee on the Judiciary on July 13, 2022 

Cost Estimate 
H.R. 7618, a bill to designate the Kol Israel Foundation Holocaust Memorial in Bedford Heights, Ohio, as a national memorial 
  
As ordered reported by the House Committee on Natural Resources on July 20, 2022 

Cost Estimate 
Legislation considered under suspension of the Rules of the House of Representatives during the week of September 19, 2022 
  
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues. 

Presentation 
The Federal Budget Process and the Role of the Congressional Budget Office 
  
Presentation by Lara Robillard, Principal Analyst, CBO’s Budget Analysis Division, to the Leadership Fellowship Program at the National Hispanic Medical Association.  

Report 
CBO’s Estimates of Student Loan Costs Since 2010 
  
CBO responds to questions from Congressman Warren Davidson and other Members about CBO’s estimates of the costs of student loan programs and how they have changed since 2010. 

Cost Estimate 
H.R. 3693, VA Continuing Professional Education Modernization Act 
  
As ordered reported by the House Committee on Veterans’ Affairs on July 19, 2022 

Cost Estimate 
H.R. 3709, Preliminary Damage Assessment Improvement Act of 2021 
  
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022 

Cost Estimate 
H.R. 5615, Homeland Security Capabilities Preservation Act 
  
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022 

Cost Estimate 
H.R. 6353, National Service Animals Memorial Act 
  
As ordered reported by the House Committee on Natural Resources on July 20, 2022 

Cost Estimate
H.R. 8520, Countering Untrusted Telecommunications Abroad Act 
  
As ordered reported by the House Committee on Foreign Affairs on July 28, 2022 

Cost Estimate 
S. 3664, Right Whale Coexistence Act of 2022 
  
As ordered reported by the Senate Committee on Commerce, Science, and Transportation onMarch 22, 2022 

Cost Estimate 
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 3173, Improving Seniors’ Timely Access to Care Act of 2021 
  
As posted to the Website of the Clerk of the House on September 14, 2022 

Cost Estimate 
H.R. 4458, KELP Act 
  
As ordered reported by the House Committee on Natural Resources on February 16, 2022 

Cost Estimate 
S. 1127, LEGEND Act of 2021 
  
As reported by the Senate Committee on Commerce, Science, and Transportation on December 17, 2021 

Cost Estimate 
S. 2427, FAIR Contributions Act 
  
As ordered reported by the Senate Committee on Commerce, Science and Transportation on May 11, 2022 

Cost Estimate 
S. 3429, Alaska Salmon Research Task Force Act 
  
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 11, 2022 

Report 
An Analysis of the President’s 2023 Budget 
  
Under the President’s proposals, the cumulative deficit for the 2023-2032 period would be $2.6 trillion smaller than it is in CBO’s baseline projections because revenues would be higher and spending lower. 

Cost Estimate 
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 7939, the Student Veteran Emergency Relief Act of 2022 
  
As Posted to the Website of the Clerk of the House on September 9, 2022 

Cost Estimate 
S. 3997, Land Between the Lakes Recreation and Heritage Act 
  
As ordered reported by the Senate Committee on Energy and Natural Resources on July 21, 2022 

Cost Estimate 
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 8260, the Faster Payments to Veterans’ Survivors Act of 2022 
  
As Posted to the Website of the Clerk of the House on September 9, 2022 

Cost Estimate 
H.R. 8326, Ensuring a Fair and Accurate Census Act 
  
As posted on the website of the House Committee on Rules onSeptember 9, 2022 (Rules Committee Print 117-64) 

Cost Estimate 
S. 3868, U.S. Customs and Border Protection Officer Retirement Technical Corrections Act 
  
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 30, 2022. 

FAF  

Financial Accounting Foundation RelocationSeptember 19, 2022  

FASB  

Financial Accounting Foundation RelocationSeptember 19, 2022  

GAO 

Tracking the Funds  
Specific Fiscal Year 2022 Provisions for Federal Agencies [Reissued with revisions on Sep. 16, 2022] 
GAO-22-105467 
Published: Sep 12, 2022. 
Publicly Released: Sep 12, 2022. 
What GAO Found The Consolidated Appropriations Act, 2022 designated $9.1 billion for 4,963 projects at the request of Members of Congress. The act includes provisions designating amounts of funds for particular recipients, such as local governments and nonprofit organizations, to use for specific projects....  

Chief Information Officers
Private Sector Practices Can Inform Government Roles 
GAO-22-104603 
Published: Sep 15, 2022. 
Publicly Released: Sep 16, 2022. 
What GAO Found A majority of the 71 private sector Chief Information Officer (CIO) survey respondents reported having responsibilities that aligned with those of agency CIOs in 13 of 14 key IT management areas. These areas include strategic planning, investment management, and information security. One...  

2017 Hurricanes
Update on FEMA's Disaster Recovery Efforts in Puerto Rico and the U.S. Virgin Islands 
GAO-22-106211 
Published: Sep 15, 2022. 
Publicly Released: Sep 15, 2022. 
What GAO Found In response to recommendations GAO made in prior reports, the Federal Emergency Management Agency (FEMA) has taken steps to improve its management of disaster recovery programs in Puerto Rico and the U.S. Virgin Islands (USVI). For example, GAO found in February 2020 that Puerto Rico government...  

Nuclear Energy Projects
DOE Should Institutionalize Oversight Plans for Demonstrations of New Reactor Types [Reissued with revisions on Sept. 15, 2022] 
GAO-22-105394 
Published: Sep 08, 2022. 
Publicly Released: Sep 13, 2022. 
What GAO Found The Department of Energy (DOE) supports the research, development, and demonstration of new types of nuclear reactors. In line with that role, in fiscal year 2021, the department made three multi-year awards totaling $4.6 billion to support the demonstration of one small modular reactor...  

Conflict Minerals
Overall Peace and Security in Eastern Democratic Republic of the Congo Has Not Improved Since 2014 
GAO-22-105411 
Published: Sep 14, 2022. 
Publicly Released: Sep 14, 2022. 
What GAO Found Overall peace and security in the eastern part of the Democratic Republic of the Congo (DRC) has not improved since 2014 because of persistent, interdependent factors that fuel violence by non-state armed groups (armed groups). Armed groups continue to commit severe human rights abuses,...  

Maritime Cargo Security
CBP's Efforts to Address the Impacts of COVID-19 
GAO-22-105803 
Published: Sep 14, 2022. 
Publicly Released: Sep 14, 2022. 
What GAO Found The COVID-19 pandemic impacted two of U.S. Customs and Border Protection's (CBP) key maritime cargo security programs—the Container Security Initiative (CSI) and the Customs Trade Partnership Against Terrorism (CTPAT) program. CSI officers largely work from foreign ports and were subject...  

COVID-19 in Nursing Homes
CMS Needs to Continue to Strengthen Oversight of Infection Prevention and Control 
GAO-22-105133 
Published: Sep 14, 2022. 
Publicly Released: Sep 14, 2022. 
What GAO Found The Centers for Medicare & Medicaid Services (CMS) is responsible for ensuring that nursing homes meet federal standards. CMS enters into agreements with state survey agencies to conduct surveys and investigations of the state's nursing homes. The Centers for Disease Control and Prevention...  

Veteran Suicide
VA Efforts to Identify Veterans at Risk through Analysis of Health Record Information 
GAO-22-105165 
Published: Sep 14, 2022. 
Publicly Released: Sep 14, 2022. 
What GAO Found The Veterans Health Administration (VHA) started using the Recovery Engagement and Coordination for Health-Veterans Enhanced Treatment (REACH VET) program across VHA in 2017 to help identify veterans receiving VHA care who are potentially at increased risk for suicide. REACH VET complements...  

Maritime Administration
Actions Needed to Enhance Cargo Preference Oversight 
GAO-22-106198 
Published: Sep 14, 2022. 
Publicly Released: Sep 14, 2022. 
What GAO Found Federal “cargo preference” laws, regulations, and policies require that when cargo owned or financed by the federal government is shipped internationally, certain percentages of that cargo be carried on vessels registered in the United States (U.S.-flag vessels). The Maritime Administration...  

Military Naturalizations
Federal Agencies Assist with Naturalizations, but Additional Monitoring and Assessment Are Needed 
GAO-22-105021 
Published: Sep 14, 2022. 
Publicly Released: Sep 14, 2022. 
What GAO Found Servicemember naturalization applications fell by 78 percent from approximately 11,000 in fiscal year 2017 to approximately 2,500 in 2018. These applications returned close to pre-fiscal year 2018 levels by fiscal year 2021. The percentage of these applications that U.S. Citizenship and...  

Flood Mitigation  
Actions Needed to Improve Use of FEMA Property Acquisitions 
GAO-22-106037 
Published: Sep 13, 2022. 
Publicly Released: Sep 13, 2022. 
What GAO Found The Federal Emergency Management Agency (FEMA) provides funding for communities to purchase flood-prone properties and convert the land to open space. Such property acquisition can be a beneficial strategy for flood mitigation. However, the acquisition process poses challenges that can...  

National Security Snapshot
Climate Change Risks to National Security 
GAO-22-105830 
Published: Sep 13, 2022. 
Publicly Released: Sep 13, 2022. 
GAO has a large body of work assessing the potential risks that climate change poses to national security. This report highlights some of these risks and actions taken by the Department of Defense and civilian federal agencies to increase resilience to the effects of climate change on Department of Defense...  

Consumer Data
Increasing Use Poses Risks to Privacy 
GAO-22-106096 
Published: Sep 13, 2022. 
Publicly Released: Sep 13, 2022. 
Businesses collect, use, and sell consumer data for their commercial benefit, but consumers may be unaware of how their data are being collected and used. Consumers generally do not have the ability to stop the collection of their data, verify data accuracy, or maintain privacy. The Big Picture As technologies...  

Flood Mitigation
Actions Needed to Improve Use of FEMA Property Acquisitions 
GAO-22-104694 
Published: Sep 13, 2022. 
Publicly Released: Sep 13, 2022. 
What GAO Found The Federal Emergency Management Agency (FEMA) provides funding for communities to purchase flood-prone properties and convert the land to open space. Such property acquisition can be a beneficial strategy for flood mitigation. However, the acquisition process poses challenges that can...  

Tracking the Funds  
Specific Fiscal Year 2022 Provisions for Department of Energy 
GAO-22-105918 
Published: Sep 12, 2022. 
Publicly Released: Sep 12, 2022. 
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $103.1 million to the Department of Energy (DOE) for 65 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific project....  

Tracking the Funds
Specific Fiscal Year 2022 Provisions for Department of the Interior 
GAO-22-105904 
Published: Sep 12, 2022. 
Publicly Released: Sep 12, 2022. 
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $117.2 million to the Department of the Interior for 75 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific project....  

Tracking the Funds
Specific Fiscal Year 2022 Provisions for General Services Administration 
GAO-22-105896 
Published: Sep 12, 2022. 
Publicly Released: Sep 12, 2022. 
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $53.5 million to the General Services Administration (GSA) for four projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific...  

Tracking the Funds
Specific Fiscal Year 2022 Provisions for National Archives and Records Administration 
GAO-22-105883 
Published: Sep 12, 2022. 
Publicly Released: Sep 12, 2022. 
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $36.8 million to the National Archives and Records Administration (NARA) for 13 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funding for a particular recipient to...  

Tracking the Funds
Specific Fiscal Year 2022 Provisions for Department of Transportation 
GAO-22-105892 
Published: Sep 12, 2022. 
Publicly Released: Sep 12, 2022. 
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $1.5 billion to the Department of Transportation (DOT) for 478 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific...  

GASB  

Financial Accounting Foundation RelocationSeptember 19, 2022  

IASB  

September 2022 joint FASB–IASB education meeting papers and agenda available 
Meeting 
16 Sep 2022   

Join the staff—Market Engagement Operations Manager 
Careers
16 Sep 2022 

September 2022 Sustainability Consultative Committee meeting agenda now available 
Meeting
13 Sep 2022   

African ministers support the ISSB’s work and call for early adoption of its Standards by African jurisdictions and companies 
Statement  13 Sep 2022 

IRS  

IRS accepting applicants for Compliance Assurance Process for 2023  
IR-2022-158, September 15, 2022 — The Internal Revenue Service announced today the opening of the application period for the 2023 Compliance Assurance Process (CAP) program. 

NYS  

Governor Hochul Signs Legislation to Expand Public Servants' Access to Student Loan Forgiveness
2022-09-15     

Superintendent Adrienne A. Harris Approves New Banking Development District in City of Poughkeepsie  
2022-09-15

Governor Hochul Announces $475 Million in Tax Relief for 1.8 Million Low-Income New Yorkers and Families 
9-8-2022 

PCAOB  

PCAOB Sanctions Firm and Audit Partner for Noncooperation With a Board Inspection 
Sep. 13, 2022 

Kent Bonham Named Director of the PCAOB’s Office of Communications and Engagement 
Sep. 12, 2022 

SEC  

SEC Charges Gol Intelligent Airlines, Brazil’s Second Largest Airline, with FCPA Violations               
2022-164, Sept. 15, 2022   — The Securities and Exchange Commission today charged Brazil’s second largest domestic airline, GOL Linhas Aéreas Inteligentes, for violating the Foreign Corrupt Practices Act (FCPA). The São Paulo-based company, also known as Gol Intelligent Airlines, agreed to pay $70 million to settle the SEC charges.       

SEC Charges Loop Capital Markets in First Action against Broker-Dealer for Violating Municipal Advisor Registration Rule 
2022-163, Sept. 14, 2022   — The Securities and Exchange Commission today charged Chicago-based Loop Capital Markets, LLC for providing advice to a municipal entity without registering as a municipal advisor. The action marks the first time the SEC has charged a broker-dealer for violating the municipal advisor registration rule.

SEC Proposes Rules to Improve Risk Management in Clearance and Settlement and to Facilitate Additional Central Clearing for the U.S. Treasury Market
2022-162 Sept. 14, 2022 —The Securities and Exchange Commission today proposed rule changes that would enhance risk management practices for central counterparties in the U.S. Treasury market and facilitate additional clearing of U.S. Treasury securities transactions. The proposed rule changes would update the membership standards required of covered clearing agencies for the U.S. Treasury market with respect to a member’s clearance and settlement of specified secondary market transactions. Additional proposed rule changes are designed to reduce the risks faced by a clearing agency and incentivize and facilitate additional central clearing in the U.S. Treasury market.

SEC Proposes Rules to Improve Risk Management in Clearance and Settlement and to Facilitate Additional Central Clearing for the U.S. Treasury Market   
2022-161, Sept. 13, 2022 —The Securities and Exchange Commission today filed a litigated action against Oppenheimer & Co. Inc. and separately announced settlements with BNY Mellon Capital Markets LLC, TD Securities (USA) LLC, and Jefferies LLC, charging each of the four firms with failing to comply with municipal bond offering disclosure requirements. These are the first SEC actions addressing underwriters who fail to meet the legal requirements that would exempt them from obtaining disclosures for investors in certain offerings of municipal bonds. 

SEC Charges Four Underwriters in First Actions Enforcing Municipal Bond Disclosure  Law          
2022-160., Sept. 12, 2022 —The Securities and Exchange Commission today charged VMware Inc. for misleading investors about its order backlog management practices, which enabled the Palo Alto, California-based technology company to push revenue into future quarters by delaying product deliveries to customers, concealing the company’s slowing performance relative to its projections.

TIGTA  

Fiscal Year 2022 Statutory Review of Disclosure of Collection Activity With Respect to Joint Returns  
September 14, 2022

Fiscal Year 2022 Statutory Review of Potential Fair Tax Collection Practices Violations  
September 13, 2022

Fiscal Year 2022 Statutory Review of Compliance With Notice of Federal Tax Lien Filing Due Process Procedures  
September 12, 2022 


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