Should we support Senate Amendment 1021?

Information about bills and amendments, including full text, is available on thomas.loc.gov. But to display the information, it generates a temporary page in response to a query. If there's a way of getting a permanent link to particular text, I don't know it. So I'm posting this here to have the text.

This amendment is already passed, but no corresponding amendment has been introduced in the House, according to http://www.huffingtonpost.com/2009/05/08/senate-passed-bill-would_n_199402.html. I don't know whether to support a House version.

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TITLE __--COMPTROLLER GENERAL ADDITIONAL AUDIT AUTHORITIES

SEC. __X. COMPTROLLER GENERAL ADDITIONAL AUDIT AUTHORITIES.

(a) Definition of Agency.--Section 714(a) of title 31, United States Code, is amended by striking ``Federal Reserve Board,'' and inserting ``Board of Governors of the Federal Reserve System (in this section referred to as the `Board'), the Federal Open Market Committee, the Federal Advisory Council,''.

(b) Audits of the Board of Governors of the Federal Reserve System and the Federal Reserve Banks.--Section 714(b) of title 31, United States Code, is amended by striking the second sentence.

(c) Confidential Information.--Section 714(c) of title 31, United States Code, is amended--

(1) by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively; and

(2) by inserting after paragraph (1) the following:

``(2)(A) Except as provided under paragraph (4), an officer or employee of the Government Accountability Office may not provide to any person outside the Government Accountability Office any document or name described under subparagraph (B) if that document or name is maintained as confidential by the Board, the Federal Open Market Committee, the Federal Advisory Council, or any Federal reserve bank.

``(B) The documents and names referred to under subparagraph (A) are--

``(i) any document relating to--

``(I) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;

``(II) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations; or

``(III) transactions made under the direction of the Federal Open Market Committee; or

``(ii) the name of any foreign central bank, government of a foreign country, or non-private international financing organization associated with a transaction described under clause (i)(I).''; and

(3) by striking paragraph (4) (as redesignated by this subsection) and inserting the following:

``(4) This subsection shall not--

``(A) authorize an officer or employee of an agency to withhold information from any committee or subcommittee of jurisdiction of Congress, or any member of such committee or subcommittee; or

``(B) limit any disclosure by the Government Accountability Office to any committee or subcommittee of jurisdiction of Congress, or any member of such committee or subcommittee.''.

(d) Access to Records.--

(1) ACCESS TO RECORDS.--Section 714(d)(1) of title 31, United States Code, is amended--

(A) in the first sentence, by inserting ``or any entity established by an agency'' after ``an agency''; and

(B) by inserting ``The Comptroller General shall have access to the officers, employees, contractors, and other agents and representatives of an agency or any entity established by an agency at any reasonable time as the Comptroller General may request. The Comptroller General may make and retain copies of such books, accounts, and other records as the Comptroller General determines appropriate.'' after the first sentence.

(2) UNAUTHORIZED ACCESS.--Section 714(d)(2) of title 31, United States Code, is amended by inserting ``, copies of any record,'' after ``records''.

(e) Availability of Draft Reports for Comment.--Section 718(a) of title 31, United States Code, is amended by striking ``Federal Reserve Board,'' and inserting ``Board of Governors of the Federal Reserve System, the Federal Open Market Committee, the Federal Advisory Council,''.