S.Amdt. 3814

SA 3814. Mr. GRASSLEY submitted an amendment intended to be proposed
to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself
and Mrs. Lincoln)) to the bill S. 3217, to promote the financial
stability of the United States by improving accountability and
transparency in the financial system, to end ``too big to fail,'' to
protect the American taxpayer by ending bailouts, to protect consumers
from abusive financial services practices, and for other purposes;
which was ordered to lie on the table; as follows:

Strike 989B, insert the following:

SEC. 989B. DESIGNATED FEDERAL ENTITY INSPECTORS GENERAL
INDEPENDENCE.

Section 8G of the Inspector General Act of 1978 (5 U.S.C.
App.) is amended--
(1) in subsection (a)(4)--
(A) in the matter preceding subparagraph (A), by inserting
``the board or commission of the designated Federal entity,
or in the event the designated Federal entity does not have a
board or commission,'' after ``means'';
(B) in subparagraph (A), by striking ``and'' after the
semicolon; and
(C) by adding after subparagraph (B) the following:
``(C) with respect to the Federal Labor Relations
Authority, such term means the members of the Authority
(described under section 7104 of title 5, United States
Code);
``(D) with respect to the National Archives and Records
Administration, such term means the Archivist of the United
States;
``(E) with respect to the National Credit Union
Administration, such term means the National Credit Union
Administration Board (described under section 102 of the
Federal Credit Union Act (12 U.S.C. 1752a);
``(F) with respect to the National Endowment of the Arts,
such term means the National Council on the Arts;
``(G) with respect to the National Endowment for the
Humanities, such term means the National Council on the
Humanities; and
``(H) with respect to the Peace Corps, such term means the
Director of the Peace Corps;''; and
(2) in subsection (h), by inserting ``if the designated
Federal entity is not a board or commission, include'' after
``designated Federal entities and''.

SEC. 989C. STRENGTHENING INSPECTOR GENERAL ACCOUNTABILITY.

Section 5(a) of the Inspector General Act of 1978 (5 U.S.C.
App.) is amended--
(1) in paragraph (12), by striking ``and'' after the
semicolon;

[[Page S3116]]

(2) in paragraph (13), by striking the period and inserting
a semicolon; and
(3) by adding at the end the following:
``(14)(A) an appendix containing the results of any peer
review conducted by another Office of Inspector General
during the reporting period; or
``(B) if no peer review was conducted within that reporting
period, a statement identifying the date of the last peer
review conducted by another Office of Inspector General;
``(15) a list of any outstanding recommendations from any
peer review conducted by another Office of Inspector General
that have not been fully implemented, including a statement
describing the status of the implementation and why
implementation is not complete; and
``(16) a list of any peer reviews conducted by the
Inspector General of another Office of the Inspector General
during the reporting period, including a list of any
outstanding recommendations made from any previous peer
review (including any peer review conducted before the
reporting period) that remain outstanding or have not been
fully implemented.''.

SEC. 989D. REMOVAL OF INSPECTORS GENERAL OF DESIGNATED
FEDERAL ENTITIES.

Section 8G(e) of the Inspector General Act of 1978 (5
U.S.C. App.) is amended--
(1) by redesignating the sentences following ``(e)'' as
paragraph (2); and
(2) by striking ``(e)'' and inserting the following:
``(e)(1) Each Inspector General of a designated Federal
entity may at any time be removed, but only for cause. In the
case of a designated Federal entity for which a board or
commission is the head of the designated Federal entity, a
removal under this subsection may only be made upon the
written concurrence of a \2/3\ majority of the board or
commission.''.

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