Commodity Futures Trading Commission--Fiscal Year 2013 Transfer Authority

This opinion addresses whether the Full-Year Continuing Appropriations Act, 2013 (2013 Appropriations Act) granted the Commodity Futures Trading Commission (CFTC) authority to transfer amounts from a particular line-item appropriation. In section 744 of the Financial Services and General Government Appropriations Act, 2012 (2012 Financial Services Act), Congress granted CFTC authority to transfer up to $10 million from a line-item appropriation available only for information technology investments and to use the amounts to pay for salaries and expenses. CFTC asserts that the 2013 Appropriations Act carried section 744 forward into fiscal year 2013.

We conclude that the 2013 Appropriations Act did not carry forward the section 744 transfer authority. The 2013 Appropriations Act, as a general matter, carried forward many of the provisions of the 2012 Financial Services Act. However, the section 744 transfer authority was not included among these provisions. CFTC should adjust its accounts in accordance with this opinion.