[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1257 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 195
115th CONGRESS
  1st Session
                                H. R. 1257

                          [Report No. 115-275]

To amend the Securities Exchange Act of 1934 to require the Securities 
  Exchange Commission to refund or credit excess payments made to the 
                              Commission.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 28, 2017

Mr. Meeks (for himself and Mr. Hultgren) introduced the following bill; 
       which was referred to the Committee on Financial Services

                            August 15, 2017

 Additional sponsors: Mrs. Carolyn B. Maloney of New York, Mr. Foster, 
                   Mr. Hollingsworth, and Mr. Sherman

                            August 15, 2017

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
    [For text of introduced bill, see copy of bill as introduced on 
                           February 28, 2017]


_______________________________________________________________________

                                 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.


 


    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Securities and Exchange Commission 
Overpayment Credit Act''.

SEC. 2. REFUNDING OR CREDITING OVERPAYMENT OF SECTION 31 FEES.

    (a) Definitions.--In this section--
            (1) the term ``Commission'' means the Securities and 
        Exchange Commission;
            (2) the term ``national securities association'' means an 
        association that is registered under section 15A of the 
        Securities Exchange Act of 1934 (15 U.S.C. 78o-3); and
            (3) the term ``national securities exchange'' means an 
        exchange that is registered as a national securities exchange 
        under section 6 of the Securities Exchange Act of 1934 (15 
        U.S.C. 78f).
    (b) Credit for Overpayment of Fees.--Notwithstanding section 31(j) 
of the Securities Exchange Act of 1934 (15 U.S.C. 78ee(j)), and subject 
to subsection (c) of this section, if a national securities exchange or 
a national securities association has paid fees and assessments to the 
Commission in an amount that is more than the amount that the exchange 
or association was required to pay under section 31 of the Securities 
Exchange Act of 1934 (15 U.S.C. 78ee) and, not later than 10 years 
after the date of such payment, the exchange or association informs the 
Commission about the payment of such excess amount, the Commission 
shall offset future fees and assessments due by that exchange or 
association in an amount that is equal to the difference between the 
amount that the exchange or association paid and the amount that the 
exchange or association was required to pay under such section 31.
    (c) Applicability.--Subsection (b) shall apply only to fees and 
assessments that a national securities exchange or a national 
securities association was required to pay to the Commission before the 
date of enactment of this Act.
                                                 Union Calendar No. 195

115th CONGRESS

  1st Session

                               H. R. 1257

                          [Report No. 115-275]

_______________________________________________________________________

                                 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.

_______________________________________________________________________

                            August 15, 2017

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed