; (5) by inserting after subsection (c) the following new subsection: (d) Revolving fund (1) Definitions In this subsection— (A) the term Fund means the United States Patent and Trademark Office Innovation Promotion Fund established under paragraph (2); and (B) the term Trademark Act of 1946 means the Act entitled An Act to provide for the registration and protection of trademarks used in commerce, to carry out the provisions of certain international conventions, and for other purposes , approved July 5, 1946 ( 15 U.S.C. 1051 et seq.) (commonly referred to as the Trademark Act of 1946 or the Lanham Act ). (2) Establishment There is established in the Treasury a revolving fund to be known as the United States Patent and Trademark Office Innovation Promotion Fund . (3) Derivation of resources There shall be deposited into the Fund any fees collected under— (A) this title; or (B) the Trademark Act of 1946. (4) Expenses Amounts deposited into the Fund under paragraph (3) shall be available, without fiscal year limitation, to cover— (A) all expenses to the extent consistent with the limitation on the use of fees set forth in subsection (c), including all administrative and operating expenses, determined in the discretion of the Director to be ordinary and reasonable, incurred by the Director for the continued operation of all services, programs, activities, and duties of the Office relating to patents and trademarks, as such services, programs, activities, and duties are described under— (i) this title; and (ii) the Trademark Act of 1946; and (B) all expenses incurred pursuant to any obligation, representation, or other commitment of the Office. ; (6) in subsection (e), as redesignated, by striking The Director and inserting Refunds .—The Director ; and (7) in subsection (f), as redesignated, by striking The Secretary and inserting Report .—The Secretary . (b) Effective date