H. R. 1257
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
To amend the Securities Exchange Act of 1934 to require the Securities Exchange Commission to refund or credit excess payments made to the Commission.
This Act may be cited as the
Securities and Exchange Commission Overpayment Credit Act.
Refunding or crediting overpayment of section 31 fees
Section 31 of the Securities Exchange Act of 1934 (15 U.S.C. 78ee) is amended by adding at the end the following:
If a national securities exchange or national securities association pays to the Commission an amount in excess of fees and assessments due under this section and informs the Commission of such amount paid in excess within 10 years of the date of the payment, the Commission shall offset future fees and assessments due by such exchange or association in an amount equal to such excess amount.
The amendment made by this section shall apply to any fees and assessments paid before, on, or after the date of enactment of this section.