H.R. 9329

SEC Reform and Restructuring Act

Sponsor: Ann Wagner

4 cosponsors
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Official summary

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Text of the bill

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I SEC Regulatory Accountability

II SEC Transparency

III SEC Cybersecurity

IV Review the Expansion of Government

V Streamlining Public Company Accounting Oversight

Sec. 506. Funding Changed · Sep 3

Where this section came from

  1. Jun 18, 2026 · Introduced in House Referred to House Committee on Financial Services, Jun 18
  2. Sep 3, 2026 · Reported in House Marked up by House Committee on Financial Services, Jun 30 Reported by House Committee on Financial Services, Sep 3 Committee members' individual votes aren't in our records.
What changed in the text

… 4 unchanged passages …

(1) Standard setting body. The standard setting body referred to in subsection (a) shall establish a budget for each fiscal year, which shall be — (A) reviewed and approved according to their respective internal procedures not less than 1 month prior to the commencement of the fiscal year to which the budget pertains ; and (B) subject to approval by the Commission .

… 7 unchanged passages …

(B) The Office. The budget of the Office (reduced by any registration or annual fees received under section 102(f) for the year preceding the year for which the budget is being computed) for each fiscal year may be payable from annual accounting support fees, in accordance with subsections (d) and (e). Accounting support fees and other receipts of the Office shall not be considered public monies of the United States .

… 11 unchanged passages …

What is a markup?

A markup is a committee meeting where members go through a bill and vote on changes before sending it to the full chamber.

Section 109 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7219) is amended—

(1) by amending subsection (b) to read as follows:

Text this section adds to the law

(b) Annual budgets

(1) Standard setting body. The standard setting body referred to in subsection (a) shall establish a budget for each fiscal year, which shall be—

(A) reviewed and approved according to their respective internal procedures not less than 1 month prior to the commencement of the fiscal year to which the budget pertains; and

(B) subject to approval by the Commission.

(2) The Office. The Commission shall establish the budget for the Office for each fiscal year.

(2) in subsection (c)—

(A) by amending paragraph (1) to read as follows:

Text this section adds to the law

(1) Recoverable budget expenses

(A) Standard setting body. The budget of the standard setting body referred to in subsection (a) for each fiscal year shall be payable from annual accounting support fees, in accordance with subsections (d) and (e). Accounting support fees and other receipts of such standard-setting body shall not be considered public monies of the United States.

(B) The Office. The budget of the Office (reduced by any registration or annual fees received under section 102(f) for the year preceding the year for which the budget is being computed) for each fiscal year may be payable from annual accounting support fees, in accordance with subsections (d) and (e). Accounting support fees and other receipts of the Office shall not be considered public monies of the United States.

(B) in paragraph (2), by striking shall and inserting may;

(3) in subsection (d)—

(A) in the heading, by striking the Board and inserting the Office;

(B) in paragraph (1), by striking The Board shall establish, with the approval of the Commission, and inserting The Commission may establish;

(C) in paragraph (2), by striking shall and inserting may; and

(D) by striking paragraph (3);

(4) in subsection (j)—

(A) by striking either the Board,; and

(B) by striking , or both,; and

(5) by striking subsection (k).

VI Study Regarding Major Rules Issued by the Securities and Exchange Commission

VII Minimum public comment period

VIII Securities Enforcement Clarity

IX SEC Modernization