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HR 5490 113th Congress House Finance and Financial Sector Appropriations Commodities markets Commodity Futures Trading Commission Computers and information technology Executive agency funding and structure Financial services and investments Government trust funds Securities User charges and fees

Wall Street Accountability through Sustainable Funding Act

Introduced: September 16, 2014 Introduced by: DeLauro, Rosa L. Democratic · Connecticut See on congress.gov
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 30, 2014
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Sep 16, 2014
Referred to the House Committee on Agriculture.
Sep 16, 2014
Introduced in House
 Plain-English summary Congressional Research Service

Wall Street Accountability Through Sustainable Funding Act - Amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to impose fees to recover the cost of the appropriation to the CFTC for the fiscal year.

Requires the fees to be imposed on each agreement, contract, or transaction that is a contract of sale of a commodity for future delivery, an option, or a swap.

Permits the CFTC to exempt contracts, agreements, or transactions from the fee if the exemption is consistent with: (1) the public interest; (2) the equal treatment of contract markets, derivatives clearing organizations, and market participants; and (3) the operation of a nationwide market system.

Establishes the Commodity Futures Trading Commission Reserve Fund in the Treasury and requires the CFTC to impose and collect an additional fee to be deposited into the Fund. Permits the CFTC to obligate amounts in the Fund for long-term investments in information technology and unexpected expenses. Limits the balance in the Fund to $50 million.

What's happening now September 30, 2014

Referred to the Subcommittee on General Farm Commodities and Risk Management.

 Committees of jurisdiction 2