; and (3) in subsection (c)— (A) in paragraph (1) by inserting or approve after terminate ; and (B) in paragraph (5) by striking subsection (b) and inserting subsection (b)(1) . 3. Exercise of emergency powers and authorities Section 301 of the National Emergencies Act ( 50 U.S.C. 1631 ) is amended by striking Such specification and inserting For any instance of reprogramming or transfer of funds for use in response to a national emergency, the President shall specify the derivation, amount, and intended use of such funds. Such specifications . 4. Applicability The amendments made by this Act shall only apply with respect to a national emergency declared by the President on or after the date of enactment of this Act.