US Code Title 15 Section 78kk

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CITE

    15 USC Sec. 78kk                                            01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2B - SECURITIES EXCHANGES

HEAD

    Sec. 78kk. Authorization of appropriations

STATUTE

      In addition to any other funds authorized to be appropriated to
    the Commission, there are authorized to be appropriated to carry
    out the functions, powers, and duties of the Commission,
    $776,000,000 for fiscal year 2003, of which -
        (1) $102,700,000 shall be available to fund additional
      compensation, including salaries and benefits, as authorized in
      the Investor and Capital Markets Fee Relief Act (Public Law 107-
      123; 115 Stat. 2390 et seq.);
        (2) $108,400,000 shall be available for information technology,
      security enhancements, and recovery and mitigation activities in
      light of the terrorist attacks of September 11, 2001; and
        (3) $98,000,000 shall be available to add not fewer than an
      additional 200 qualified professionals to provide enhanced
      oversight of auditors and audit services required by the Federal
      securities laws, and to improve Commission investigative and
      disciplinary efforts with respect to such auditors and services,
      as well as for additional professional support staff necessary to
      strengthen the programs of the Commission involving Full
      Disclosure and Prevention and Suppression of Fraud, risk
      management, industry technology review, compliance, inspections,
      examinations, market regulation, and investment management.

SOURCE

    (June 6, 1934, ch. 404, title I, Sec. 35, as added Pub. L. 94-29,
    Sec. 24, June 4, 1975, 89 Stat. 162; amended Pub. L. 95-20, Apr.
    13, 1977, 91 Stat. 47; Pub. L. 95-211, Dec. 19, 1977, 91 Stat.
    1492; Pub. L. 95-425, Sec. 1, Oct. 6, 1978, 92 Stat. 962; Pub. L.
    96-477, title IV, Sec. 401, Oct. 21, 1980, 94 Stat. 2291; Pub. L.
    100-181, title I, Sec. 101, Dec. 4, 1987, 101 Stat. 1249; Pub. L.
    100-704, Sec. 8, Nov. 19, 1988, 102 Stat. 4683; Pub. L. 101-550,
    title I, Sec. 102, Nov. 15, 1990, 104 Stat. 2713; Pub. L. 104-290,
    title IV, Sec. 403, Oct. 11, 1996, 110 Stat. 3441; Pub. L. 105-353,
    title II, Sec. 201, Nov. 3, 1998, 112 Stat. 3233; Pub. L. 107-204,
    title VI, Sec. 601, July 30, 2002, 116 Stat. 793.)

REFERENCES IN TEXT

      The Investor and Capital Markets Fee Relief Act, referred to in
    par. (1), is Pub. L. 107-123, Jan. 16, 2002, 115 Stat. 2390. For
    complete classification of this Act to the Code, see Short Title of
    2002 Amendments note set out under section 78a of this title and
    Tables.

CODIFICATION

      Pub. L. 94-29, which directed amendment of the Securities
    Exchange Act of 1934 by adding this section at the end, is
    reflected in the source credit above as adding this section to
    title I of the Securities Exchange Act of 1934, to reflect the
    probable intent of Congress.

AMENDMENTS

      2002 - Pub. L. 107-204 reenacted section catchline without change
    and amended text generally, updating fiscal year from 1999 to 2003,
    striking out subsec. designations, and substituting provisions
    relating to funding of additional compensation, terrorist-related
    information technology, security enhancements, and recovery and
    mitigation activities, and an additional 200 qualified
    professionals to provide enhanced oversight for provisions relating
    to miscellaneous expenses such as meetings and official functions.
      1998 - Pub. L. 105-353 reenacted section catchline without change
    and amended text generally. Prior to amendment, text read as
    follows: "There are authorized to be appropriated to carry out the
    functions, powers, and duties of the Commission $300,000,000 for
    fiscal year 1997, in addition to any other funds authorized to be
    appropriated to the Commission."
      1996 - Pub. L. 104-290 reenacted section catchline without change
    and amended text generally. Prior to amendment, text read as
    follows: "There are authorized to be appropriated to carry out the
    functions, powers, and duties of the Commission -
        "(1) $178,023,000 for the fiscal year ending September 30,
      1990; and
        "(2) $212,609,000 for the fiscal year ending September 30,
      1991."
      1990 - Pub. L. 101-550 amended section generally, substituting
    present provisions for former provisions which provided for fiscal
    years 1988 and 1989: in subsec. (a), for authorization of
    appropriations for the Commission; in subsec. (b), for amounts for
    the EDGAR system; and in subsec. (c), for amounts for reception and
    representation expenses and for membership in the International
    Organization of Securities Commissions.
      1988 - Subsec. (c). Pub. L. 100-704 added subsec. (c).
      1987 - Pub. L. 100-181 amended section generally. Prior to
    amendment, section read as follows: "There are authorized to be
    appropriated to carry out the functions, powers, and duties of the
    Commission not to exceed $51,000,000 for the fiscal year ending
    June 30, 1976, $56,500,000 for the fiscal year ending September 30,
    1977, $63,750,000 for the fiscal year ending September 30, 1978,
    $69,000,000 for the fiscal year ending September 30, 1979,
    $79,000,000 for the fiscal year ending September 30, 1980,
    $85,500,000 for the fiscal year ending September 30, 1981,
    $96,640,000 for the fiscal year ending September 30, 1982, and
    $106,610,000 for the fiscal year ending September 30, 1983. For
    fiscal years succeeding fiscal year 1983, there may be appropriated
    such sums as the Congress may hereafter authorize by law."
      1980 - Pub. L. 96-477 authorized appropriations of $85,500,000
    for fiscal year ending Sept. 30, 1981, $96,640,000 for fiscal year
    ending Sept. 30, 1982, and $106,610,000 for fiscal year ending
    Sept. 30, 1983, and provided that for fiscal years succeeding 1983,
    there may be appropriated such sums as Congress may authorize by
    law.
      1978 - Pub. L. 95-425 inserted provision authorizing
    appropriations of not to exceed $69,000,000, and $79,000,000 for
    fiscal years ending Sept. 30, 1979 and 1980, respectively, and
    substituted "fiscal year 1980" for "fiscal year 1978".
      1977 - Pub. L. 95-211 authorized appropriations of not to exceed
    $63,750,000 for fiscal year ending Sept. 30, 1978, and substituted
    "For the fiscal years succeeding fiscal year 1978" for "For fiscal
    years succeeding the 1977 fiscal year" in provisions relating to
    appropriations for succeeding fiscal years.
      Pub. L. 95-20 substituted "$56,500,000" for "$55,000,000".
                     EFFECTIVE DATE OF 1988 AMENDMENT
      Amendment by Pub. L. 100-704 not applicable to actions occurring
    before Nov. 19, 1988, see section 9 of Pub. L. 100-704 set out as a
    note under section 78o of this title.
                              EFFECTIVE DATE
      Section effective June 4, 1975, see section 31(a) of Pub. L. 94-
    29, set out as a note under section 78b of this title.