; and (3) requires an annual accounting and reconciliation of the actual costs incurred and the funds provided under such agreement, which shall be reviewed by the Inspector General of the Social Security Administration and the Inspector General of the Department of Homeland Security. (b) Continuation of employment verification in absence of timely agreement (1) In general In any case in which the agreement required under subsection (a) for any fiscal year beginning on or after October 1, 2024, has not been reached as of October 1 of such fiscal year, the latest agreement described in such subsection shall be deemed in effect on an interim basis for such fiscal year until such time as an agreement required under subsection (a) is subsequently reached, except that the terms of such interim agreement shall be modified to adjust for inflation and any increase or decrease in the volume of requests under the employment eligibility verification system. (2) Notification requirements (A) In general Not later than October 1 of any fiscal year during which an interim agreement applies under paragraph (1), the Commissioner and the Secretary shall notify the Committee on Finance of the Senate , the Committee on the Judiciary of the Senate , the Committee on Appropriations of the Senate , the Committee on Ways and Means of the House of Representatives , the Committee on the Judiciary of the House of Representatives , and the Committee on Appropriations of the House of Representatives of the failure to reach the agreement required under subsection (a) for such fiscal year. (B) Quarterly notifications Until the agreement required under subsection (a) has been reached for a fiscal year, the Commissioner and the Secretary, not later than the end of each 90-day period after October 1 of such fiscal year, shall notify the congressional committees referred to in subparagraph (A) of the status of negotiations between the Commissioner and the Secretary in order to reach such an agreement. 307. Report on the implementation of the