Wall Street Accountability through Sustainable Funding Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 20, 2015)
Wall Street Accountability Through Sustainable Funding Act
This bill amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to impose fees to recover the cost of the appropriation to the CFTC for the fiscal year.
The fees must be imposed on each agreement, contract, or transaction that is a contract of sale of a commodity for future delivery, an option, or a swap. The CFTC may exempt contracts, agreements, or transactions from the fee if the exemption is consistent with: (1) the public interest; (2) the equal treatment of contract markets, derivatives clearing organizations, and market participants; and (3) the operation of a nationwide market system.
The bill also establishes the Commodity Futures Trading Commission Reserve Fund in the Treasury and requires the CFTC to impose and collect an additional fee to be deposited into the Fund. The CFTC may obligate amounts in the Fund for long-term investments in information technology and unexpected expenses. The balance in the fund is limited to $50 million.
What just happenedJun 8, 2015
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Who’s behind it
- Introduced in HouseMay 20, 2015
- Jun 8, 2015Committee
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Commodity Markets, Digital Assets, and Rural Development Subcommittee - May 20, 2015IntroReferralH11100
Referred to the House Committee on Agriculture.
Agriculture Committee - May 20, 2015IntroReferralIntro-H
Introduced in House
- May 20, 2015IntroReferral1000
Introduced in House