United States · Amendment · HAMDT

HAMDT 869 (97th)

An amendment to fund CFTC operations by fees: $.12 for transactions executed by nonmembers, $.06 by members, and a fee of $3.00 for each option granted or leverage contracts, entered into. The fees are to be paid to the U.S. Treasury and are not to exceed in any fiscal year the funds appropriated by Congress for the Commission's activities. The Commission may waive the fees if a need is established. The Commission is to create an advisory committee comprised of persons affected by the fees for consultation and to prepare a report of their effects for the appropriate congressional committees. The amendment strikes section 238 of the bill which requires a study of the cost saving effectiveness of the National Futures Association's activities and permits a study to implement transaction fees or taxes.

Taxation