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United States · Bill · S

S. 1854 (106th)

21st Century Acquisition Reform and Improvement Act of 2000

referredUnited States· United States Congress· EN

Introduced

4 November 1999

Last action

—

Status

Referred to the House Committee on the Judiciary.

Sponsors

—

Subjects

Discovery layer

Source updated

10 August 2026

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Summary

Hart-Scott-Rodino Antitrust Improvements Act of 1999 - Amends the Clayton Act to increase the size-of-transaction threshold to $35 million (currently, $15 million) with respect to merger and acquisition notice requirements. Directs the Federal Trade Commission (FTC) to adjust the filing threshold on January 1, 2005, and each year thereafter. Transfers provisions of a statute regarding assessment and collection of filing fees to the Clayton Act. Revises such provisions to set the filing fee at: (1) $45,000 if, as a result of the acquisition, the acquiring person would hold an aggregate total amount of the voting securities and assets of the acquired person in an amount of at least $35 million but not exceeding $100 million; and (2) $100,000 if the total amount is greater than $100 million. (Sec. 3) Amends provisions of the Clayton Act, relating to requests for additional information and waiting period extensions, to limit requests for additional information or documentary material (material) to that which is not unreasonably cumulative or duplicative, and that does not impose a burden or expense that substantially outweighs its likely benefit to the Assistant Attorney General (AAG) or FTC in conducting a preliminary antitrust review of the proposed acquisition. Sets forth provisions regarding what constitutes "substantial compliance." Directs the AAG or FTC, when requesting additional material, to set forth a specific summary of the competitive concerns presented by the proposed acquisition and the relation between such concern and the additional material requested. Extends the waiting period for second requests for an additional 30 (currently, 20) days. Directs the AAG and FTC to jointly issue guidelines relating to second requests and the steps that a person responding to a request for additional material can take to comply. Allows the acquiring person, or the person whose voting securities or assets are being acquired, to petition the designated U.S. magistrate judge in the United States District Court for the District of Columbia (DC Circuit) for expedited review of a request for submission of additional material relevant to the proposed acquisition. Requires the petition to be filed not later than seven days after the issuance of: (1) the request for the submission of additional material; or (2) a notice of deficiency. Directs that a petition for review be limited to whether the request for additional material: (1) is unreasonably cumulative or duplicative; (2) imposes a burden or expense that substantially outweighs any likely benefit to the AAG or FTC in conducting a preliminary antitrust review of the proposed acquisition; or (3) has been substantially complied with by the petitioning person. Sets forth provisions regarding further extensions of the waiting period, appeals, the standard of review, the standard for determining substantial compliance, and the burden of proof. Directs the chief judge of the DC Circuit to designate a U.S. magistrate judge for that district who shall have primary responsibility for reviewing petitions. (Sec. 4) Amends the Clayton Act to provide that, in calculating filing periods, if the end of a time period falls on a Saturday, Sunday, or legal holiday, that period shall be extended to the end of the following business day. (Sec. 5) Directs the FTC, beginning with the annual report filed in 2001, to include in its report to Congress: (1) the number of notifications filed; (2) the number filed in which the AAG or FTC requested the submission of additional material relevant to the proposed acquisition; (3) data relating to the length of time for parties to comply with such requests; (4) the number of petitions filed with the designated magistrate judge for expedited review of such requests and the manner in which they were resolved; (5) data relating to the volume of materials submitted pursuant to such requests; and (6) the number of notifications filed in which such requests were made but never complied with prior to resolution of the case. (Sec. 6) Requires that the thresholds established by rule and promulgated in the Code of Federal Regulations be adjusted by the FTC on January 1, 20005, and each year thereafter, consistent with this Act, with the adjusted amount rounded to the nearest $1 million. Directs the FTC to publish the adjusted amount by January 31 of each year.

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Referred in House (text)

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