HR 2474 114th 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: May 20, 2015 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

Jun 8, 2015

Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

May 20, 2015

Referred to the House Committee on Agriculture.

May 20, 2015

Introduced in House

Plain-English summary Congressional Research Service

Wall Street Accountability Through Sustainable Funding Act

This bill 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.

The fees must 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. The CFTC may 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.

The bill also 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. The CFTC may obligate amounts in the Fund for long-term investments in information technology and unexpected expenses. The balance in the fund is limited to $50 million.

What's happening now June 8, 2015

Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Committees of jurisdiction 2