PUBLIC LAW 107-123^JAN. 16, 2002 115 STAT. 2393 "(1) DEFINITIONS.— For purposes of this section: " (1) TARGET OFFSETTING COLLECTION AMOUNT. — The target offsetting collection amount for each of the fiscal years 2002 through 2011 is determined according to the following table: Target offsetting Tiscal year: collection amount 2002 $732,000,000 2003 $849,000,000 2004 $1,028,000,000 2005 $1,220,000,000 2006 $1,435,000,000 2007 $881,000,000 2008 $892,000,000 2009 $1,023,000,000 2010 $1,161,000,000 2011 $1,321,000,000 " (2) BASELINE ESTIMATE OF THE AGGREGATE DOLLAR AMOUNT OF SALES.—The baseline estimate of the aggregate dollar amount of sales for any fiscal year is the baseline estimate of the aggregate dollar amount of sales of securities (other than bonds, debentures, other evidences of indebtedness, security futures products, and options on securities indexes (excluding a narrow-based security index)) to be transacted on each national securities exchange and by or through any member of each national securities association (otherwise than on a national securities exchange) during such fiscal year as determined by the Commission, after consultation with the Congressional Budget Office and the Office of Management and Budget, using the methodology required for making projections pursuant to section 257 of the Balanced Budget and Emergency Deficit Control Act of 1985.". (2) CONFORMING AMENDMENT.—Section 31(g) of such Act (as redesignated by subsection (a)(6) of this section) is amended by inserting before the period at the end the following: "not Deadline, later than April 30 of the fiscal year preceding the fiscal year to which such rate applies, together with any estimates or projections on which such fees are based". SEC. 4. REDUCTION OF REGISTRATION FEES. Section 6(b) of the Securities Act of 1933 (15 U.S.C. 77f(b)) is amended by striking paragraphs (2) through (5) and inserting the following: "(2) FEE PAYMENT REQUIRED.—At the time of filing a registration statement, the applicant shall pay to the Commission a fee at a rate that shall be equal to $92 per $1,000,000 of the maximum aggregate price at which such securities are proposed to be offered, except that during fiscal year 2003 and any succeeding fiscal year such fee shall be adjusted pursuant to paragraph (5) or (6). "(3) OFFSETTING COLLECTIONS. — Fees collected pursuant to this subsection for any fiscal year— "(A) shall be deposited and credited as offsetting collections to the account providing appropriations to the Commission; and "(B) except as provided in paragraph (9), shall not be collected for any fiscal year except to the extent provided in advance in appropriation Acts.
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