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held in the Financial Research Fund shall be credited to and form a part of the Financial Research Fund. (b) USE OF FUNDS.— (1) IN GENERAL.—Funds obtained by, transferred to, or credited to the Financial Research Fund shall be immediately available to the Office, and shall remain available until expended, to pay the expenses of the Office in carrying out the duties and responsibilities of the Office. (2) FEES, ASSESSMENTS, AND OTHER FUNDS NOT GOVERN- MENT FUNDS.—Funds obtained by, transferred to, or credited to the Financial Research Fund shall not be construed to be Government funds or appropriated moneys. (3) AMOUNTS NOT SUBJECT TO APPORTIONMENT.—Notwith- standing any other provision of law, amounts in the Financial Research Fund shall not be subject to apportionment for pur- poses of chapter 15 of title 31, United States Code, or under any other authority, or for any other purpose. (c) INTERIM FUNDING.—During the 2-year period following the Time period. date of enactment of this Act, the Board of Governors shall provide to the Office an amount sufficient to cover the expenses of the Office. (d) PERMANENT SELF-FUNDING.—Beginning 2 years after the Effective date. date of enactment of this Act, the Secretary shall establish, by Regulations. regulation, and with the approval of the Council, an assessment Assessments. schedule, including the assessment base and rates, applicable to bank holding companies with total consolidated assets of 50,000,000,000 or greater and nonbank financial companies super- vised by the Board of Governors, that takes into account differences among such companies, based on the considerations for establishing the prudential standards under section 115, to collect assessments equal to the total expenses of the Office.

SEC. 156. TRANSITION OVERSIGHT. 12 USC 5346.
(a) PURPOSE.—The purpose of this section is to ensure that
the Office—
(1) has an orderly and organized startup;
(2) attracts and retains a qualified workforce; and
(3) establishes comprehensive employee training and bene-
fits programs.
(b) REPORTING REQUIREMENT.—
(1) IN GENERAL.—The Office shall submit an annual report
to the Committee on Banking, Housing, and Urban Affairs
of the Senate and the Committee on Financial Services of
the House of Representatives that includes the plans described
in paragraph (2).
(2) PLANS.—The plans described in this paragraph are as
follows:
(A) TRAINING AND WORKFORCE DEVELOPMENT PLAN.—
The Office shall submit a training and workforce develop-
ment plan that includes, to the extent practicable—
(i) identification of skill and technical expertise
needs and actions taken to meet those requirements;
(ii) steps taken to foster innovation and creativity;

LAWS (iii) leadership development and succession plan- ning; and (iv) effective use of technology by employees.PUBLIC with on anorris VerDate Nov 24 2008 00:54 Jul 29, 2010 Jkt 089139 PO 00203 Frm 00045 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203