[Congressional Record Volume 164, Number 40 (Wednesday, March 7, 2018)]
[Senate]
[Page S1464]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2075. Mr. HELLER submitted an amendment intended to be proposed by 
him to the bill S. 2155, to promote economic growth, provide tailored 
regulatory relief, and enhance consumer protections, and for other 
purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. 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.
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