Page:United States Statutes at Large Volume 124.djvu/1205

 124 STAT. 1179 PUBLIC LAW 111–163—MAY 5, 2010 organizations exempt from taxation under section 501(c)(3) of the Internal Revenue Code of 1986.’’. (b) CONFORMING AMENDMENT.—Section 7362(a), as amended by section 802(a)(1) of this Act, is further amended by striking the last sentence. SEC. 805. REDESIGNATION OF SECTION 7364A OF TITLE 38, UNITED STATES CODE. (a) REDESIGNATION.—Section 7364A is redesignated as section 7365. (b) CLERICAL AMENDMENTS.—The table of sections at the begin- ning of chapter 73 is amended— (1) by striking the item relating to section 7364A; and (2) by striking the item relating to section 7365 and inserting the following new item: ‘‘7365. Coverage of employees under certain Federal tort claims laws.’’. SEC. 806. IMPROVED ACCOUNTABILITY AND OVERSIGHT OF CORPORA- TIONS. (a) ADDITIONAL INFORMATION IN ANNUAL REPORTS.—Subsection (b) of section 7366 is amended to read as follows: ‘‘(b)(1) Each corporation shall submit to the Secretary each year a report providing a detailed statement of the operations, activities, and accomplishments of the corporation during that year. ‘‘(2)(A) A corporation with revenues in excess of $500,000 for any year shall obtain an audit of the corporation for that year. ‘‘(B) A corporation with annual revenues between $100,000 and $500,000 shall obtain an audit of the corporation at least once every three years. ‘‘(C) Any audit under this paragraph shall be performed by an independent auditor. ‘‘(3) The corporation shall include in each report to the Secretary under paragraph (1) the following: ‘‘(A) The most recent audit of the corporation under para- graph (2). ‘‘(B) The most recent Internal Revenue Service Form 990 ‘Return of Organization Exempt from Income Tax’ or equivalent and the applicable schedules under such form.’’. (b) CONFLICT OF INTEREST POLICIES.—Subsection (c) of such section is amended to read as follows: ‘‘(c) Each director, officer, and employee of a corporation estab- lished under this subchapter shall be subject to a conflict of interest policy adopted by that corporation.’’. (c) ESTABLISHMENT OF APPROPRIATE PAYEE REPORTING THRESHOLD.—Subsection (d)(3)(C) of such section is amended by striking ‘‘$35,000’’ and inserting ‘‘$50,000’’. TITLE IX—CONSTRUCTION AND NAMING MATTERS SEC. 901. AUTHORIZATION OF MEDICAL FACILITY PROJECTS. (a) AUTHORIZATION OF FISCAL YEAR 2010 MAJOR MEDICAL FACILITY PROJECTS.—The Secretary of Veterans Affairs may carry out the following major medical facility projects in fiscal year 2010, with each project to be carried out in the amount specified for such project: