I 
114TH CONGRESS 
1ST SESSION H. R. 2474 
To require the Commodity Futures Trading Commission to impose fees and 
assessments to recover the cost of appropriations to the Commission. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 20, 2015 
Ms. DELAURO (for herself, Mr. WELCH, Mr. COURTNEY, Ms. MAXINE 
WATERS of California, Mr. ELLISON, Mr. MCGOVERN, Ms. NORTON, Ms. 
SCHAKOWSKY, Ms. SLAUGHTER, and Mr. HASTINGS) introduced the fol-
lowing bill; which was referred to the Committee on Agriculture 
A BILL 
To require the Commodity Futures Trading Commission to 
impose fees and assessments to recover the cost of appro-
priations to the Commission. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Wall Street Account-
ability through Sustainable Funding Act’’. 
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SEC. 2. REQUIREMENT THAT THE COMMODITY FUTURES 
TRADING COMMISSION IMPOSE FEES AND AS-
SESSMENTS TO RECOVER THE COST OF AP-
PROPRIATIONS TO THE COMMISSION. 
Section 12 of the Commodity Exchange Act (7 U.S.C. 
16) is amended by adding at the end the following: 
‘‘(i) RECOVERY OF COSTS OF ANNUAL APPROPRIA-
TIONS.— 
‘‘(1) IMPOSITION OF FEES.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (C), the Commission shall, by 
order, impose a fee on each agreement, con-
tract, or transaction that is a contract of sale 
of a commodity for future delivery, an option, 
or a swap, including an agreement, contract, or 
transaction transacted through the use of a for-
eign terminal, so that the total of the fees so 
imposed during each fiscal year is sufficient to 
recover the costs to the Government of the an-
nual appropriation to the Commission by Con-
gress for the fiscal year. 
‘‘(B) FOREIGN
TERMINAL.—In subpara-
graph (A), the term ‘foreign terminal’ means a 
technology, software, or device, which is located 
in the United States and used to execute an 
agreement, contract, or transaction on a foreign 
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board of trade, or which is located outside of 
the United States and used to execute an agree-
ment, contract, or transaction within the 
United States on a domestic board of trade. 
‘‘(C) EXEMPTIONS.—The Commission, by 
rule, may exempt any such agreement, contract, 
or transaction from any fee imposed under this 
paragraph, if the Commission finds that the ex-
emption is consistent with— 
‘‘(i) the public interest; 
‘‘(ii) the equal treatment of contract 
markets, derivatives clearing organizations, 
and market participants; and 
‘‘(iii) the operation of a nationwide 
market system. 
‘‘(D) 
LIMITATION.—The 
fees 
imposed 
under this paragraph on all transactions of the 
same kind shall be determined in a uniform 
manner. 
‘‘(E) MID-YEAR ADJUSTMENT.— 
‘‘(i) IN
GENERAL.—By March 1 of 
each fiscal year, the Commission shall de-
termine whether, based on the fees col-
lected under this subsection during the 
first 5 months of the fiscal year, the total 
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of the amounts collected and to be col-
lected under this subsection for the fiscal 
year is reasonably likely to be 10 percent 
(or more) greater or less than the costs de-
scribed in subparagraph (A) for the fiscal 
year. If the Commission so determines, the 
Commission shall by order, no later than 
March 1 of the fiscal year, adjust the fee 
rates otherwise applicable under this para-
graph for the fiscal year so that the total 
of the amounts so collected and to be col-
lected is reasonably likely to equal to the 
costs so described. 
‘‘(ii) EFFECTIVE
DATE.—Subject to 
paragraphs (2)(C) and (4), an adjusted 
rate prescribed under clause (i) of this sub-
paragraph in a fiscal year shall take effect 
on the later of— 
‘‘(I) the 1st day of the fiscal year 
to which the rate applies; or 
‘‘(II) 60 days after the date on 
which a regular appropriation to the 
Commission for the fiscal year is en-
acted. 
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‘‘(F) 
PUBLICATION.—The 
Commission 
shall publish in the Federal Register notices of 
the fee rates applicable under this paragraph 
for a fiscal year not later than 30 days after 
the date on which a regular appropriation to 
the Commission for the fiscal year is enacted, 
together with any estimates or projections on 
which the fee rates are based. 
‘‘(G) INAPPLICABILITY
OF
RULEMAKING 
REQUIREMENTS.—In exercising its authority 
under this paragraph, the Commission shall not 
be required to comply with section 553 of title 
5, United States Code. 
‘‘(H) NO JUDICIAL REVIEW.—A fee rate 
prescribed under this paragraph and published 
in accordance with subparagraph (F) shall not 
be subject to judicial review. 
‘‘(2) PAYMENT AND COLLECTION OF FEES.— 
‘‘(A) 
CLEARED
TRANSACTIONS; 
UNCLEARED SWAPS REPORTED TO SWAP DATA 
REPOSITORIES.— 
‘‘(i) PAYMENT OF FEES.— 
‘‘(I) CLEARED TRANSACTIONS.— 
In the case of a contract of sale of a 
commodity for future delivery, an op-
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tion, or a swap that is cleared by a 
derivatives clearing organization reg-
istered or exempt from registration 
under this Act, each party to the 
agreement, contract, or transaction 
shall pay the fee determined under 
paragraph (1) to the derivatives clear-
ing organization. 
‘‘(II) UNCLEARED
SWAPS
RE-
PORTED
TO
SWAP
DATA
REPOSI-
TORIES.—In the case of a swap that 
is not cleared by a derivatives clearing 
organization registered or exempt 
from registration under this Act and 
that is accepted by a swap data repos-
itory registered under section 21, each 
party to the swap shall pay the trans-
action fee determined under para-
graph (1) to the swap data repository. 
‘‘(ii) COLLECTION
OF
FEES.—The 
Commission shall collect the fees paid in 
accordance with clause (i) in such manner 
and within such time as the Commission 
deems appropriate, except that if the Com-
mission has not collected a fee paid in ac-
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