124 STAT. 2581 PUBLIC LAW 111–240—SEPT. 27, 2010 (c) TERMINATION OF SECRETARY’S PROGRAM ADMINISTRATION FUNCTIONS.—The authorities and duties of the Secretary to imple- ment and administer the Program shall terminate at the end of the 7-year period beginning on the date of enactment of this Act. (d) EXPEDITED CONTRACTING.—During the 1-year period begin- ning on the date of enactment of this Act, the Secretary may enter into contracts without regard to any other provision of law regarding public contracts, for purposes of carrying out this title. SEC. 3010. REGULATIONS. The Secretary, in consultation with the Administrator of the Small Business Administration, shall issue such regulations and other guidance as the Secretary determines necessary or appro- priate to implement this title including to define terms, to establish compliance and reporting requirements, and such other terms and conditions necessary to carry out the purposes of this title. SEC. 3011. OVERSIGHT AND AUDITS. (a) INSPECTOR GENERAL OVERSIGHT.—The Inspector General of the Department of the Treasury shall conduct, supervise, and coordinate audits and investigations of the use of funds made avail- able under the Program. (b) GAO AUDIT.—The Comptroller General of the United States shall perform an annual audit of the Program and issue a report to the appropriate committees of Congress containing the results of such audit. (c) REQUIRED CERTIFICATION.— (1) FINANCIAL INSTITUTIONS CERTIFICATION.—With respect to funds received by a participating State under the Program, any financial institution that receives a loan, a loan guarantee, or other financial assistance using such funds after the date of the enactment of this Act shall certify that such institution is in compliance with the requirements of section 103.121 of title 31, Code of Federal Regulations, a regulation that, at a minimum, requires financial institutions, as that term is defined in section 5312 (a)(2) and (c)(1)(A) of title 31, United States Code, to implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable, maintain records of the information used to verify the person’s identity, and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency. (2) SEX OFFENSE CERTIFICATION.—With respect to funds received by a participating State under the Program, any pri- vate entity that receives a loan, a loan guarantee, or other financial assistance using such funds after the date of the enactment of this Act shall certify to the participating State that the principals of such entity have not been convicted of a sex offense against a minor (as such terms are defined in section 111 of the Sex Offender Registration and Notification Act (42 U.S.C. 16911)). (d) PROHIBITION ON PORNOGRAPHY.—None of the funds made available under this title may be used to pay the salary of any individual engaged in activities related to the Program who has been officially disciplined for violations of subpart G of the Stand- ards of Ethical Conduct for Employees of the Executive Branch for viewing, downloading, or exchanging pornography, including 12 USC 5710. 12 USC 5709. Time period. Time period.
