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HR 2441 106th Congress House Finance and Financial Sector Administrative fees Appropriations Commerce Economics and Public Finance Government Operations and Politics Independent regulatory commissions Law Securities and Exchange Commission Securities industry Securities regulation Stock exchanges

Fairness in Securities Transactions Act

Introduced: July 1, 1999 See on congress.gov
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 Everywhere this bill has been 9 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 15, 2000
Placed on the Union Calendar, Calendar No. 596.
Dec 15, 2000
Reported (Amended) by the Committee on Commerce. H. Rept. 106-1034.
Oct 6, 2000
Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 16.
Oct 6, 2000
Committee Consideration and Mark-up Session Held.
Feb 15, 2000
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
Sep 28, 1999
Committee Consideration and Mark-up Session Held.
Jul 21, 1999
Referred to the Subcommittee on Finance and Hazardous Materials.
Jul 1, 1999
Referred to the House Committee on Commerce.
Jul 1, 1999
Introduced in House
 Plain-English summary Congressional Research Service
Fairness in Securities Transactions Act - Amends the Securities Exchange Act of 1934 to reduce (from one three-hundredth of one percent to one five-hundredth of one percent) the transaction fees designed to recover the costs to the Government of securities markets oversight and enforcement.

Provides that if insufficient fees are collected for the budget authority of the Securities and Exchange Commission (SEC) as provided by an appropriations Act, such Act may provide for a fee increase, with all such increases deposited and credited as offsetting collections to the pertinent appropriations account.

Requires that such fees be deposited and collected as general revenue of the Treasury. Prohibits the fee amount in any fiscal year from exceeding a specified baseline amount.

Mandates that fees collected in excess of such baseline amount: (1) only be collected or spent to the extent provided in advance in appropriation Acts; and (2) be deposited and credited as offsetting collections to the account providing appropriations to the SEC.

What's happening now December 15, 2000

Placed on the Union Calendar, Calendar No. 596.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 2 Republican 2