; (2) report directly to the Secretary of Commerce; and (3) have a rate of pay that is equal to the rate payable for level IV of the Executive Schedule under section 5315 of title 5. . (2) Conforming amendments (A) Section 50702(d) of title 51, United States Code, is amended— (i) in the subsection heading, by striking Director and inserting Assistant Secretary ; and (ii) in the matter preceding paragraph (1), by striking Director and inserting Assistant Secretary . (B) Section 5315 of title 5, United States Code, is amended by striking Assistant Secretaries of Commerce (11) and inserting Assistant Secretaries of Commerce (12) . (3) References On and after the date of the enactment of this Act, any reference in any law or regulation to the Director of the Office of Space Commerce shall be deemed to be a reference to the Assistant Secretary of Commerce for Space Commerce. (d) Transition report Not later than 1 year after the date of the enactment of this Act, the Secretary of Commerce shall submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Science, Space, and Technology of the House of Representatives a report that sets forth transition and continuity of operations plans for the functional and administrative transfer of the Office of Space Commerce from the National Oceanic and Atmospheric Administration to the Office of the Secretary of Commerce.