Merger Filing Fee Modernization Act of 2019

Bill: 116-s-1937
Sponsor: full_name: Sen. Klobuchar, Amy [D-MN]
Introduced: 2019-06-20
Policy area: Commerce
Subjects: Competition and antitrust

Corporate finance and management

Department of Justice

Executive agency funding and structure

Federal Trade Commission (FTC)

Inflation and prices

User charges and fees
Latest action: action_date: 2019-06-20
text: Read twice and referred to the Committee on the Judiciary.

Summaries:
action_date: 2019-06-20
action_desc: Introduced in Senate
text: <p><b>Merger Filing Fee Modernization Act of 2019</b></p> <p>This bill modifies and expands the schedule for graduated merger filing fees and requires that such fees be adjusted each year based on the Producer Price Index.</p>

tv_txt: II 116th CONGRESS 1st Session S. 1937 IN THE SENATE OF THE UNITED STATES June 20, 2019 Ms. Klobuchar (for herself and Mr. Grassley ) introduced the following bill; which was read twice and referred to the Committee on the Judiciary A BILL To promote merger enforcement and protect competition through adjusting premerger filing fees, and increasing antitrust enforcement resources.

1. Short title This Act may be cited as the Merger Filing Fee Modernization Act of 2019 . 2. Premerger notification filing fees Section 605 of Public Law 101–162 ( 15 U.S.C. 18a note) is amended— (1) in subsection (b)— (A) in paragraph (1)— (i) by striking $45,000 and inserting $30,000 ; (ii) by striking $100,000,000 and inserting $161,500,000 ; (iii) by striking 2004 and inserting 2020 ; and (iv) by striking 2003 and inserting 2019 ; (B) in paragraph (2)— (i) by striking $125,000 and inserting $100,000 ; (ii) by striking $100,000,000 and inserting $161,500,000 ; (iii) by striking but less and inserting but is less ; and (iv) by striking and at the end; (C) in paragraph (3)— (i) by striking $280,000 and inserting $250,000 ; and (ii) by striking the period at the end and inserting but is less than $1,000,000,000 (as so adjusted and published); ; and (D) by adding at the end the following: (4) $400,000 if the aggregate total amount determined under section 7A(a)(2) of the Clayton Act ( 15 U.S.C. 18a(a)(2) ) is not less than $1,000,000,000 (as so adjusted and published) but is less than $2,000,000,000 (as so adjusted and published); (5) $800,000 if the aggregate total amount determined under section 7A(a)(2) of the Clayton Act ( 15 U.S.C. 18a(a)(2) ) is not less than $2,000,000,000 (as so adjusted and published) but is less than $5,000,000,000 (as so adjusted and published); and (6) $2,250,000 if the aggregate total amount determined under section 7A(a)(2) of the Clayton Act ( 15 U.S.C. 18a(a)(2) ) is not less than $5,000,000,000 (as so adjusted and published). ; and (2) by adding at the end the following: (c) (1) For each fiscal year commencing after September 30, 2020, the filing fees in this section shall be increased as of October 1 each year by an amount equal to the percentage increase, if any, in the Producer Price Index, as determined by the Department of Commerce or its successor, for the year then ended over the level so established for the year ending September 30, 2019. (2) As soon as practicable, but not later than January 31 of each year, the Federal Trade Commission shall publish the adjusted amounts required by this section. (3) The Federal Trade Commission shall not adjust amounts required by this section if the percentage increase described in paragraph (1) is less than 1 percent. (4) An amount adjusted under this section shall be rounded to the nearest multiple of $5,000. . 3. Authorization of appropriations There is authorized to be appropriated for fiscal year 2020— (1) $180,606,000 for the Antitrust Division of the Department of Justice; and (2) $342,000,000 for the Federal Trade Commission.