; and update such compilation at least once each year. 8. Backstop If, 2 years after the date of the enactment of this Act, the Commission has not issued rules pursuant to section 6, and until such rules are issued, a covered issuer shall be deemed in compliance with section 13(s) of the Securities Exchange Act of 1934 if disclosures set forth in the annual report of such issuer satisfy the recommendations of the Task Force on Climate-Related Financial Disclosures of the Financial Stability Board as reported in June 2017, or any successor report, and as supplemented or adjusted by such rules, guidance, or other comments from the Commission. 9. Reports (a) Securities and Exchange Commission The Commission shall— (1) conduct an annual assessment regarding the compliance of covered issuers with the requirements of section 13(s) of the Securities Exchange Act of 1934, as added by section 5; (2) submit to the appropriate congressional committees a report that contains the results of each assessment conducted under paragraph (1); and (3) make each report submitted under paragraph (2) accessible to the public. (b) Government Accountability Office The Comptroller General of the United States shall periodically evaluate, and report to the appropriate congressional committees on, the effectiveness of the Commission in carrying out and enforcing section 13(s) of the Securities Exchange Act of 1934, as added by section 5. 10. Severability If any provision of this Act, an amendment made by this Act, or the application of this Act (or an amendment made by this Act) to any person or circumstance is held to be invalid, that holding shall have no effect with respect to— (1) the remainder of this Act; and (2) the application of the provision or amendment, as applicable, to any other person or circumstance. 11. Authorization of appropriations There are authorized to be appropriated to the Commission such sums as may be necessary to carry out this Act.