Page:United States Statutes at Large Volume 124.djvu/1445

 124 STAT. 1419 PUBLIC LAW 111–203—JULY 21, 2010 held in the Financial Research Fund shall be credited to and form a part of the Financial Research Fund. (b) USE OF FUNDS.— (1) IN GENERAL.—Funds obtained by, transferred to, or credited to the Financial Research Fund shall be immediately available to the Office, and shall remain available until expended, to pay the expenses of the Office in carrying out the duties and responsibilities of the Office. (2) FEES, ASSESSMENTS, AND OTHER FUNDS NOT GOVERN- MENT FUNDS.—Funds obtained by, transferred to, or credited to the Financial Research Fund shall not be construed to be Government funds or appropriated moneys. (3) AMOUNTS NOT SUBJECT TO APPORTIONMENT.—Notwith- standing any other provision of law, amounts in the Financial Research Fund shall not be subject to apportionment for pur- poses of chapter 15 of title 31, United States Code, or under any other authority, or for any other purpose. (c) INTERIM FUNDING.—During the 2-year period following the date of enactment of this Act, the Board of Governors shall provide to the Office an amount sufficient to cover the expenses of the Office. (d) PERMANENT SELF-FUNDING.—Beginning 2 years after the date of enactment of this Act, the Secretary shall establish, by regulation, and with the approval of the Council, an assessment schedule, including the assessment base and rates, applicable to bank holding companies with total consolidated assets of 50,000,000,000 or greater and nonbank financial companies super- vised by the Board of Governors, that takes into account differences among such companies, based on the considerations for establishing the prudential standards under section 115, to collect assessments equal to the total expenses of the Office. SEC. 156. TRANSITION OVERSIGHT. (a) PURPOSE.—The purpose of this section is to ensure that the Office— (1) has an orderly and organized startup; (2) attracts and retains a qualified workforce; and (3) establishes comprehensive employee training and bene- fits programs. (b) REPORTING REQUIREMENT.— (1) IN GENERAL.—The Office shall submit an annual report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives that includes the plans described in paragraph (2). (2) PLANS.—The plans described in this paragraph are as follows: (A) TRAINING AND WORKFORCE DEVELOPMENT PLAN.— The Office shall submit a training and workforce develop- ment plan that includes, to the extent practicable— (i) identification of skill and technical expertise needs and actions taken to meet those requirements; (ii) steps taken to foster innovation and creativity; (iii) leadership development and succession plan- ning; and (iv) effective use of technology by employees. 12 USC 5346. Effective date. Regulations. Assessments. Time period.