To provide for a limitation on availability of funds for Department of Treasury, Cybersecurity Enhancement Account for fiscal year 2024.

Hozzl · 2023-12-15T15:56:16Z

Explore the details of House Bill 2050 To provide for a limitation on availability of funds for Department of Treasury, Cybersecurity Enhancement Account for fiscal year 2024. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:56 PM

Summary of Bill HR 2050

Bill 118 hr 2050, also known as the "Department of Treasury Cybersecurity Enhancement Account Limitation Act," aims to place restrictions on the availability of funds for the Department of Treasury's Cybersecurity Enhancement Account for the fiscal year 2024. The bill seeks to limit the amount of money that can be allocated to this account, which is used to enhance cybersecurity measures within the Department of Treasury.

The purpose of this limitation is not explicitly stated in the bill itself, but it can be inferred that the goal is to ensure that funds are being allocated efficiently and effectively within the Department of Treasury's cybersecurity efforts. By placing restrictions on the availability of funds, Congress may be seeking to encourage greater accountability and oversight of how these funds are being used.

It is important to note that this bill does not eliminate funding for cybersecurity enhancements within the Department of Treasury altogether, but rather sets a limit on the amount of money that can be allocated to this specific account for the fiscal year 2024. This limitation may have implications for the Department of Treasury's ability to implement new cybersecurity measures or upgrade existing systems. Overall, Bill 118 hr 2050 represents a targeted effort by Congress to ensure that taxpayer dollars are being used responsibly within the Department of Treasury's cybersecurity efforts. It will be important to monitor the impact of this limitation on the department's ability to protect sensitive information and systems from cyber threats in the coming year.

Current Status of Bill HR 2050

Bill HR 2050 is currently in the status of Bill Introduced since March 29, 2023. Bill HR 2050 was introduced during Congress 118 and was introduced to the House on March 29, 2023. Bill HR 2050's most recent activity was Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of March 29, 2023