A bill to clarify that funding for the standard setting body designated pursuant to section 19(b) of the Securities Act of 1933 is not subject to the sequester.

This bill provides that any sequestration ordered by the President under the Balanced Budget and Emergency Deficit Control Act of 1985 is inapplicable to funding of the body that sets standards for generally accepted accounting principles for purposes of securities laws. (Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.)