I 
113TH CONGRESS 
2D SESSION 
H. R. 5490 
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 
SEPTEMBER 16, 2014 
Ms. DELAURO (for herself, Mr. WELCH, and Mr. COURTNEY) introduced the 
following 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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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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cordance with clause (i) within 30 days 
after receipt by the derivatives clearing or-
ganization or swap data repository, as the 
case may be, the organization or reposi-
tory, as the case may be, shall transmit the 
fee to the Commission. 
‘‘(B) UNCLEARED
SWAPS
REPORTED
TO 
COMMISSION.—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 reported to the Commission 
pursuant to section 4r, each party to the swap 
shall pay the fee determined under paragraph 
(1) to the Commission in a manner and within 
such time as the Commission deems appro-
priate. 
‘‘(C) SUBJECT TO APPROPRIATIONS.—Ex-
cept as provided in paragraph (4), a fee shall 
not be collected under this subsection for a fis-
cal year, except to the extent provided in ad-
vance in appropriation Acts. 
‘‘(3) DEPOSIT OF FEES.— 
‘‘(A) OFFSETTING
COLLECTIONS.—A fee 
collected under paragraph (2) for a fiscal year 
shall be deposited and credited as offsetting col-
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lections to the account providing appropriations 
to the Commission. 
‘‘(B) GENERAL REVENUES PROHIBITED.— 
A fee collected under paragraph (2) for a fiscal 
year shall not be deposited and credited as gen-
eral revenue of the Treasury. 
‘‘(4) LAPSE
OF
APPROPRIATION.—If on the 
first day of a fiscal year a regular appropriation to 
the Commission has not been enacted, the Commis-
sion shall continue to collect (as offsetting collec-
tions) the fees imposed under paragraph (1) at the 
rate in effect during the preceding fiscal year, until 
60 days after the date such a regular appropriation 
is enacted. 
‘‘(j) COMMODITY FUTURES TRADING COMMISSION 
RESERVE FUND.— 
‘‘(1) ESTABLISHMENT.—There is established in 
the Treasury of the United States a separate fund, 
to be known as the ‘Commodity Futures Trading 
Commission Reserve Fund’ (referred to in this sub-
section as the ‘Reserve Fund’). 
‘‘(2) IMPOSITION OF FEES.—The Commission 
shall impose and collect an additional fee, as pro-
vided in subsection (i), except that the total amount 
of the fees imposed and collected in each fiscal year 
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shall not exceed an amount equal to the amount (if 
any) by which $50,000,000 exceeds the balance in 
the Reserve Fund as of the end of the preceding fis-
cal year, and paragraphs (2)(C) and (4) of sub-
section (i) shall not apply with respect to this sub-
section. 
‘‘(3) DEPOSITS INTO RESERVE FUND.— 
‘‘(A) IN GENERAL.—Except as provided in 
this paragraph, all fees collected under this 
paragraph shall be deposited into the Reserve 
Fund. 
‘‘(B) LIMITATION.—The balance in the Re-
serve Fund shall not exceed $50,000,000. 
‘‘(4) USE OF FUNDS.—The Commission may 
obligate amounts in the Reserve Fund, not to exceed 
a total of $50,000,000 in any 1 fiscal year, as the 
Commission determines is necessary to make long- 
term investments in information technology for use 
by the Commission and to cover unexpected expenses 
of the Commission (as determined by the Commis-
sion). Not later than 10 days after the date on 
which the Commission obligates amounts under this 
paragraph, the Commission shall notify the Congress 
of the date, amount, and purpose of the obligation. 
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‘‘(5) AVAILABILITY
OF
FUNDS.—Amounts in 
the Reserve Fund shall remain available until ex-
pended. 
‘‘(6) RULE
OF
CONSTRUCTION.—Amounts in 
the Reserve Fund shall not be construed to be Gov-
ernment funds or appropriated monies and shall not 
be subject to apportionment for the purpose of chap-
ter 15 of title 31, United States Code, or under any 
other authority.’’. 
Æ 
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