; and (2) in paragraph (2)(E), by inserting of the Council after Chairperson . (d) Retroactive reporting on large covered funds (1) Definitions In this subsection, the terms agency and large covered funds have the meanings given those terms in section 15011 of division B of the Coronavirus, Aid, Relief, and Economic Security Act ( Public Law 116–136 ). (2) Guidance (A) In general Not later than 14 days after the date of enactment of this Act, the Director of the Office of Management and Budget shall issue guidance for agencies to ensure the collection and timely reporting for the obligation and expenditure of large covered funds under division A of the CARES Act ( Public Law 116–136 ) on and after the date of enactment of that Act. (B) Requirement The guidance issued under subparagraph (A) shall require that, not later than 120 days after the date of enactment of this Act, agencies shall make all reports required under section 15011 of division B of the CARES Act ( Public Law 116–136 ) relating to large covered funds under division A of such Act that have been expended or obligated during the period beginning on the date of enactment of the CARES Act ( Public Law 116–136 ) and ending on the day before the date of enactment of this Act. (C) Rule of construction Nothing in this subsection shall be construed to affect the deadlines for reporting under section 15011 of division B of the CARES Act ( Public Law 116–136 ) relating to large covered funds that have been expended or obligated under divisions A or B of such Act, on or after the date of enactment of this Act. (c) Designation Amounts repurposed under this section that were previously designated by the Congress, respectively, as an emergency requirement or as being for disaster relief pursuant to the Balanced Budget and Emergency Deficit Control Act are designated by the Congress as being for an emergency requirement pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985 or as being for disaster relief pursuant to