; and (7) in subsection (f), as so redesignated, by striking The Secretary and inserting the following: (f) Report The Secretary . (b) Effective date; transfer from and termination of obsolete funds (1) Effective date The amendments made by subsection (a) shall take effect on the first day of the first fiscal year that begins on or after the date of enactment of this Act. (2) Remaining balances On the effective date described in paragraph (1), there shall be deposited in the United States Patent and Trademark Office Innovation Promotion Fund established under section 42(d)(2) of title 35, United States Code (as added by subsection (a)), any available unobligated balances remaining in the Patent and Trademark Office Appropriation Account, and in the Patent and Trademark Fee Reserve Fund established under section 42(c)(2) of title 35, United States Code, as in effect on the day before that effective date. (3) Termination of reserve fund Upon the payment of all obligated amounts in the Patent and Trademark Fee Reserve Fund under paragraph (2), the Patent and Trademark Fee Reserve Fund shall be terminated. 8. Institutions of higher education Section 123(d) of title 35, United States Code, is amended to read as follows: (d) Institutions of higher education (1) Definition In this subsection, the term institution of higher education has the meaning given the term in section 101(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1001(a) ). (2) Inclusions For purposes of this section, a micro entity shall include an applicant who certifies that— (A) the applicant’s employer, from which the applicant obtains the majority of the applicant’s income, is an institution of higher education; (B) the applicant has assigned, granted, conveyed, or is under an obligation by contract or law to assign, grant, or convey, a license or other ownership interest in the particular applications to an institution of higher education; (C) the applicant is an institution of higher education