Securities and Exchange Commission Overpayment Credit Act

Bill: 114-hr-1975
Sponsor: full_name: Rep. Meeks, Gregory W. [D-NY-5]
Introduced: 2015-04-22
Policy area: Finance and Financial Sector
Subjects: Executive agency funding and structure

Securities

Securities and Exchange Commission (SEC)

User charges and fees
Latest action: action_date: 2016-04-19
text: Placed on the Union Calendar, Calendar No. 385.

Summaries:
action_date: 2015-04-22
action_desc: Introduced in House
text: <p><b>Securities and Exchange Commission Overpayment Credit Act </b></p> <p>This bill amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) to offset future fees and assessments otherwise due from a national securities exchange or national securities association if it is informed within 10 years that the entity has overpaid past fees and assessments.</p> <p>This requirement applies to any fees and assessments paid before, on, or after the enactment of this Act.</p>

action_date: 2016-04-19
action_desc: Reported to House without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p><b>Securities and Exchange Commission Overpayment Credit Act </b></p> <p>(Sec. 2) This bill amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) to offset future fees and assessments otherwise due from a national securities exchange or national securities association if it is informed within 10 years that the entity has overpaid past fees and assessments.</p> <p>This requirement applies to any fees and assessments paid before, on, or after the enactment of this Act.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1975 IN THE HOUSE OF REPRESENTATIVES April 22, 2015 Mr. Meeks (for himself, Mr. Hultgren , Mr. Foster , and Mrs. Carolyn B. Maloney of New York ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to require the Securities Exchange Commission to refund or credit excess payments made to the Commission.

1. Short Title This Act may be cited as the Securities and Exchange Commission Overpayment Credit Act . 2. Refunding or crediting overpayment of section 31 fees (a) In general Section 31 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78ee ) is amended by adding at the end the following: (n) Overpayment If a national securities exchange or national securities association pays to the Commission an amount in excess of fees and assessments due under this section and informs the Commission of such amount paid in excess within 10 years of the date of the payment, the Commission shall offset future fees and assessments due by such exchange or association in an amount equal to such excess amount. . (b) Applicability The amendment made by this section shall apply to any fees and assessments paid before, on, or after the date of enactment of this section.

tv_txt: IB Union Calendar No. 385 114th CONGRESS 2d Session H. R. 1975 [Report No. 114–505] IN THE HOUSE OF REPRESENTATIVES April 22, 2015 Mr. Meeks (for himself, Mr. Hultgren , Mr. Foster , and Mrs. Carolyn B. Maloney of New York ) introduced the following bill; which was referred to the Committee on Financial Services April 19, 2016 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To amend the Securities Exchange Act of 1934 to require the Securities Exchange Commission to refund or credit excess payments made to the Commission.

1. Short Title This Act may be cited as the Securities and Exchange Commission Overpayment Credit Act . 2. Refunding or crediting overpayment of section 31 fees (a) In general Section 31 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78ee ) is amended by adding at the end the following: (n) Overpayment If a national securities exchange or national securities association pays to the Commission an amount in excess of fees and assessments due under this section and informs the Commission of such amount paid in excess within 10 years of the date of the payment, the Commission shall offset future fees and assessments due by such exchange or association in an amount equal to such excess amount. . (b) Applicability The amendment made by this section shall apply to any fees and assessments paid before, on, or after the date of enactment of this section.

April 19, 2016 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed