Date of the enactment of this subsection and fiscal year in which this subsection is enacted, referred to in subsec. (c)(6), mean Nov. 3, 1966, the date of enactment of Pub. L. 89–754, and fiscal year 1967, respectively.

Act of June 20, 1938, referred to in subsec. (c)(6), is act June 20, 1938, ch. 534, 52 Stat. 797, as amended, which is not classified to the Code.

Section 306 of the Act of July 30, 1947, referred to in subsec. (c)(6), is section 306 of act July 30, 1947, ch. 358, 61 Stat. 584, which is set out, in part, as a note under section 585 of Title 40, Public Buildings, Property, and Works. The remainder of section 306 of act of July 30, 1947, was set out as a note under section 19 of former Title 40, Public Buildings, Property, and Works, and has been omitted from the Code.

In subsec. (c)(6), “chapter 91 of title 31” and “such chapter” substituted for “title I of the Government Corporation Control Act [31 U.S.C. 846 et seq.]” and “such title”, respectively, on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

2004—Subsec. (c)(6). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

1999—Subsec. (b)(4). Pub. L. 106–102 struck out heading and text of par. (4). Text read as follows: “On or after the effective date of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, the Board may levy a one-time special assessment on the Banks pursuant to this subsection for the Board’s estimated expenses for the transitional period following enactment of such Act, if such assessment is made before the Board’s first semiannual assessment under paragraph (1).”

1995—Subsec. (c)(6)(B). Pub. L. 104–66 struck out “annually” after “shall be audited”, substituted “no other settlement” for “no other audit, settlement,”, and struck out “, and the first audit shall be for the remainder of the fiscal year in which this subsection is enacted” after “enactment of this subsection”.

1989—Subsec. (a). Pub. L. 101–73, § 712, struck out subsec. (a) which authorized appropriation of $300,000 for all necessary expenses of the board, together with expenses preliminary to organization and establishment of the banks created hereunder, until the end of the fiscal year 1933.

Subsec. (b). Pub. L. 101–73, § 711, amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “The board shall have power to levy semiannually upon the Federal Home Loan Banks, and they shall pay, on such equitable basis as the board shall determine, an assessment sufficient in its judgment to provide for the payment of its estimated expenses for the half year succeeding the levying of each such assessment, beginning with the second half of the calendar year 1933. All expenses of the board incurred in carrying out the provisions of this chapter, as determined by it, beginning July 1, 1933, shall be paid from the proceeds of such assessments, and if any deficiency shall occur in such fund at any time between such semiannual assessments the board shall have power to make an immediate assessment against the banks to cover such deficiency on the same basis as the original assessment. If any surplus shall remain from any assessment after the expiration of the semiannual period for which it was levied, such surplus may be deducted from the next following assessment. Such assessments may include such amounts as the board may deem advisable for carrying out the provisions of subsection (c) of this section.”

Subsec. (c). Pub. L. 101–73, § 701(b)(3)(B), which directed the amendment of subsec. (c) by striking out “Federal Home Loan Bank Board” and “board” each place such terms appear and inserting “Director of the Office of Thrift Supervision”, was executed by substituting “Director of the Office of Thrift Supervision” for “board” wherever such term appeared. The term “Federal Home Loan Bank Board” did not appear in subsec. (c).

Subsec. (c)(3). Pub. L. 101–73, § 701(b)(2), substituted “chairperson” for “chairman”.

1966—Subsec. (b). Pub. L. 89–754, § 1016(b)(1), provided that assessments may include such amounts as the board may deem advisable for carrying out provisions of subsec. (c).

Subsec. (c). Pub. L. 89–754, § 1016(b)(2), added subsec. (c).