Financial Reporting Threshold Modernization Act

The Secretary of the Treasury shall—

(A) not later than the end of the 180-day period beginning on the date of the enactment of this Act, revise regulations issued with respect to section 5313 of title 31, United States Code, to update each $10,000 threshold amount in such regulations to $60,000; and

(B) annually update each such threshold amount to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor.

Section 5331 of title 31, United States Code, is amended—

(A) by striking $10,000 each place such term appears in heading or text and inserting $60,000; and

(B) by adding at the end the following:

The Secretary of the Treasury shall annually update each dollar figure under this section to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor.

Not later than the end of the 180-day period beginning on the date of the enactment of this Act, each Federal department or agency that issues regulations with respect to reports on suspicious transactions described under section 5318(g) of title 31, United States Code, shall update each $5,000 threshold amount in such regulations to $10,000 and each $2,000 threshold amount in such regulation to $3,000.

Not later than the end of the 180-day period beginning on the date of the enactment of this Act, the Secretary of the Treasury shall revise section 1010.100(ff) of title 31, Code of Federal Regulations, to update each $1,000 threshold amount in such regulations to $3,000.