[Congressional Record Volume 146, Number 125 (Tuesday, October 10, 2000)]
[Senate]
[Pages S10159-S10160]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          FEDERAL TRADE COMMISSION REAUTHORIZATION ACT OF 2000

  Mr. BROWNBACK. Mr. President, I ask unanimous consent that the Senate 
proceed to the consideration of Calendar No. 761, S. 1687.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 1687) to amend the Federal Trade Commission Act 
     to authorize appropriations for the Federal Trade Commission.

  There being no objection, the Senate proceeded to consider the bill 
which had been reported from the Committee on Commerce, Science, and 
Transportation, with an amendment, as follows:
  (Omit the part in boldface brackets and insert the part printed in 
italic.)

                                D. 1687

       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 ``Federal Trade Commission 
     Reauthorization Act of [1999] 2000''.

     SEC. 2. REAUTHORIZATION.

       Section 25 of the Federal Trade Commission Act (15 U.S.C. 
     57c) is amended--
       (1) by striking ``and not to exceed'' and inserting ``not 
     to exceed''; and
       (2) by striking ``1998.'' and inserting the following: 
     ``1998; not to exceed [$149,000,000] $164,600,000 for fiscal 
     year 2001; and not to exceed [$156,000,000] $177,460,000 for 
     fiscal year 2002.''.

     SEC. 3. INFORMATION AND DOCUMENTARY REQUESTS.

       (a) In General.--The Attorney General and the Federal Trade 
     Commission shall each designate a senior official not 
     directly having supervisory responsibility for the review of 
     any enforcement recommendation under section 7A(e)(1) of the 
     Clayton Act (15 U.S.C. 18a(e)) concerning the transaction at 
     issue to hear any petition filed by the acquiring person or 
     the person whose voting securities or assets are to be 
     acquired, to determine--
       (1) whether the request for additional information or 
     documentary material is unreasonably cumulative, unduly 
     burdensome or duplicative; or
       (2) whether the request for additional information or 
     documentary material has been substantially complied with by 
     the petitioning person.
       (b) Expedited Review.--Internal review procedures for 
     petitions filed pursuant to subsection (a) shall include 
     reasonable deadlines for expedited review of any such 
     petitions filed, after reasonable negotiations with 
     investigative staff, in order to avoid undue delay of the 
     merger review process.
       (c) Internal Review.--The Attorney General and the Federal 
     Trade Commission shall conduct an internal review and 
     implement reforms of the merger review process in order to 
     eliminate unnecessary burden, remove costly duplication, and 
     eliminate undue delay, in order to achieve a more effective 
     and more efficient merger review process.
       (d) Not later than 120 days after the date of enactment of 
     this Act, the Attorney General and the Federal Trade 
     Commission shall issue or amend their respective industry 
     guidance, regulations, operating manuals and relevant policy 
     documents, where appropriate, to implement each reform in 
     this subparagraph.
       (e) Report.--Not later than 180 days after the date of 
     enactment of this Act, the Attorney General and the Federal 
     Trade Commission shall each report to Congress--
       (1) what reforms each agency has adopted under this 
     subparagraph;
       (2) what steps each has taken to implement such internal 
     reforms; and
       (3) the effects of those reforms.

     SEC. 4. ANNUAL REPORTS.

       The Attorney General and the Federal Trade Commission shall 
     include in the report to Congress required by section 7A(j) 
     of the Clayton Act (15 U.S.C. 18a(j))--
       (1) the number of notifications filed under this section 7A 
     of the Clayton Act (15 U.S.C. 18a);
       (2) the number of notifications filed in which the 
     Assistant Attorney General or Federal Trade Commission 
     requested the submission of additional information or 
     documentary material relevant to the proposed acquisition;
       (3) data relating to the length of time for parties to 
     comply with requests for the submission of additional 
     information or documentary material relevant to the proposed 
     acquisition;
       (4) the number of petitions filed pursuant to section 3(a) 
     of this Act regarding a request for the submission of 
     additional information or documentary material relevant to 
     the proposed acquisition and the manner in which such 
     petitions were resolved;
       (5) data relating to the volume (in number of boxes or 
     pages) of materials submitted pursuant to requests for 
     additional information or documentary material; and
       (6) the number of notifications filed in which a request 
     for additional information or documentary materials was made 
     but never complied with prior to resolution of the case.

  Mr. BROWNBACK. Mr. President, I ask unanimous consent that the 
committee amendments be agreed to, the bill be read the third time and 
passed, the motion to reconsider be laid upon the table, and any 
statements relating to the bill be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The committee amendments were agreed to.
  The bill (S. 1687), as amended, was read the third time and passed, 
as follows:

                                S. 1687

       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 ``Federal Trade Commission 
     Reauthorization Act of 2000''.

     SEC. 2. REAUTHORIZATION.

       Section 25 of the Federal Trade Commission Act (15 U.S.C. 
     57c) is amended--
       (1) by striking ``and not to exceed'' and inserting ``not 
     to exceed''; and
       (2) by striking ``1998.'' and inserting the following: 
     ``1998; not to exceed $164,600,000 for fiscal year 2001; and 
     not to exceed $177,460,000 for fiscal year 2002.''.

     SEC. 3. INFORMATION AND DOCUMENTARY REQUESTS.

       (a) In General.--The Attorney General and the Federal Trade 
     Commission shall each designate a senior official not 
     directly having supervisory responsibility for the review of 
     any enforcement recommendation under section 7A(e)(1) of the 
     Clayton Act (15 U.S.C. 18a(e)) concerning the transaction at 
     issue to hear any petition filed by the acquiring person or 
     the person whose voting securities or assets are to be 
     acquired, to determine--
       (1) whether the request for additional information or 
     documentary material is unreasonably cumulative, unduly 
     burdensome or duplicative; or
       (2) whether the request for additional information or 
     documentary material has been substantially complied with by 
     the petitioning person.
       (b) Expedited Review.--Internal review procedures for 
     petitions filed pursuant to subsection (a) shall include 
     reasonable deadlines for expedited review of any such 
     petitions filed, after reasonable negotiations with 
     investigative staff, in order to avoid undue delay of the 
     merger review process.
       (c) Internal Review.--The Attorney General and the Federal 
     Trade Commission shall conduct an internal review and 
     implement reforms of the merger review process in order to 
     eliminate unnecessary burden, remove costly duplication, and 
     eliminate undue delay, in order to achieve a more effective 
     and more efficient merger review process.
       (d) Not later than 120 days after the date of enactment of 
     this Act, the Attorney General and the Federal Trade 
     Commission shall issue or amend their respective industry 
     guidance, regulations, operating manuals and relevant policy 
     documents, where appropriate, to implement each reform in 
     this subparagraph.
       (e) Report.--Not later than 180 days after the date of 
     enactment of this Act, the Attorney General and the Federal 
     Trade Commission shall each report to Congress--
       (1) what reforms each agency has adopted under this 
     subparagraph;
       (2) what steps each has taken to implement such internal 
     reforms; and
       (3) the effects of those reforms.

     SEC. 4. ANNUAL REPORTS.

       The Attorney General and the Federal Trade Commission shall 
     include in the report

[[Page S10160]]

     to Congress required by section 7A(j) of the Clayton Act (15 
     U.S.C. 18a(j))--
       (1) the number of notifications filed under this section 7A 
     of the Clayton Act (15 U.S.C. 18a);
       (2) the number of notifications filed in which the 
     Assistant Attorney General or Federal Trade Commission 
     requested the submission of additional information or 
     documentary material relevant to the proposed acquisition;
       (3) data relating to the length of time for parties to 
     comply with requests for the submission of additional 
     information or documentary material relevant to the proposed 
     acquisition;
       (4) the number of petitions filed pursuant to section 3(a) 
     of this Act regarding a request for the submission of 
     additional information or documentary material relevant to 
     the proposed acquisition and the manner in which such 
     petitions were resolved;
       (5) data relating to the volume (in number of boxes or 
     pages) of materials submitted pursuant to requests for 
     additional information or documentary material; and
       (6) the number of notifications filed in which a request 
     for additional information or documentary materials was made 
     but never complied with prior to resolution of the case.

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