; and (2) by inserting after subparagraph (B) the following: (C) Funding for Office of Inspector General Each fiscal year, the Bureau shall dedicate 2 percent of the funds transferred pursuant to paragraph (1) to the Office of the Inspector General. . (d) Participation in the Council of Inspectors General on Financial Oversight Section 989E(a)(1) of such Act is amended by adding at the end the following: (J) The Bureau of Consumer Financial Protection. . 941. Effective date The amendments made by this subtitle shall take effect 60 days after the date of the enactment of this Act. 942. Transition period The Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection shall serve in that position until the confirmation of an Inspector General for the Bureau of Consumer Financial Protection. At that time, the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection shall become the Inspector General of the Board of Governors of the Federal Reserve System. XVI BCFP on appropriations 943. Bureau appropriations (a) Fiscal year 2019 The Director of the Bureau of Consumer Financial Protection may not request, under section 1017 of the Consumer Financial Protection Act of 2010, during fiscal year 2019 an amount that would result in the total amount requested by the Director during that fiscal year to exceed $485,000,000. (b) Fiscal year 2020 and thereafter Effective as of the first day of fiscal year 2020, section 1017 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5497 ) is amended— (1) in subsection (a)— (A) by amending the heading of such subsection to read as follows: Budget, financial management, and audit.— ; (B) by striking paragraphs (1), (2), and (3); (C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and (D) by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated; (2) by striking subsections (b) and (c)