S.Amdt. 2075

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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