123STA T . 2 0 20 PUBLIC LA W 111 –67— S E PT. 30 , 200 9‘ ‘ (A)ber e spon s i b l e t ot h e C h a irperson o f the Co m- mittee
an d ‘‘( B ) c arr y o u t such acti v ities relatin g to the Committee as the Chairperson may determine . ‘‘( 2 )A P P OINTME NT. —T he appointment by the P resident shall not be sub j ect to the advice and consent of the S enate. ‘‘( 3 ) COMPEN SA TION.— F or pay periods beginning on or after the date on w hich each Chairperson is appointed , funds for the pay of the Ex ecutive D irector shall be paid from appropria- tions to the salaries and expenses account of the department or agency of the Chairperson of the Committee. The Executive Director shall be compensated at a rate of pay e q uivalent to that of a Deputy Assistant Secretary (or a comparable posi- tion) of the Federal agency of the Chairperson of the Committee. ‘‘(d) R EPO R T.— N ot later than the end of the first quarter of each calendar year, the Committee shall submit to the Committee on Ban k ing, H ousing, and U rban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report signed by each member of the Committee that contains— ‘‘( 1 ) a review of the authority under this Act of each depart- ment, agency, or independent establishment of the Federal G overnment to which the President has delegated authority under this Act; ‘‘(2) recommendations for the effective use of the authority described in paragraph (1) in a manner consistent with the statement of policy under section 2(b); ‘‘(3) recommendations for legislation, regulations, executive orders, or other action by the Federal Government necessary to improve the use of the authority described in paragraph (1); and ‘‘( 4 ) recommendations for improving information sharing between departments, agencies, and independent establish- ments of the Federal Government relating to all aspects of the authority described in paragraph (1). ‘‘(e) FE D ERA L AD V ISOR Y COMMITTEE A C T.—The provisions of the Federal Advisory Committee Act ( 5 U.S.C. App.) shall not apply to the Committee. ’ ’. SEC.12 . AN N U A LR E PO R T ON IM PACT O F OFFSETS. (a) ANN U AL REPORT.—Title VI I of the Defense Production Act of1 9 5 0 (50 U.S.C. App. 2151 et seq.) is amended by adding at the end the following
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‘SEC. 7 2 3 . ANNUAL REPORT ON IMPACT OF OFFSETS. ‘‘(a) REPORT RE Q UIRED.— ‘‘(1) IN G ENERAL.—The President shall submit to the Com- mittee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Rep- resentatives, a detailed annual report on the impact of offsets on the defense preparedness, industrial competitiveness, employment, and trade of the United States. ‘‘(2) DUTIES O F T H E SECRETARY OF COMMERCE.—The Sec- retary of Commerce (hereafter in this subsection referred to as the ‘Secretary’) shall— ‘‘(A) prepare the report required by paragraph (1); ‘‘(B) consult with the Secretary of Defense, the Sec- retary of the Treasury, the Secretary of State, and the Consulta t i on .Pre si d ent. 50US C a p p. 217 2.
