Statement of Administration Policy: H.R. 5060 - Securities and Exchange Commission Fee Collections

(House)
(Gibbons (D) Florida)

The Administration strongly supports the enactment of H.R. 5060, which will ensure that the Securities and Exchange Commission (SEC) has sufficient funding to continue operating through the end of FY 1995.

Pay-As-You-Go Scoring

H.R. 5060 would affect direct spending and receipts; therefore, it is subject to the pay-as-you-go requirement of the Omnibus Budget Reconciliation Act of 1990. H.R. 5060 would continue the current rate of security registration fees at 1/29th of one percent into fiscal year 1995, thereby increasing receipts relative to the baseline. H.R. 5060 also provides for the fees to be deposited in the SEC's account and makes them available for expenditure thereby increasing spending. OMB's preliminary scoring estimate is that H.R. 5060 would have a net pay-as-you-go effect of zero.