,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #dech  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,decemb] #d1 #bjag,mr4
 ,ellison 7= himself1 ,mr4 ,khanna1 ,mr4
 ,cicill9e1 ,mr4 ,pocan1 ,mr4 ,nolan1   
,ms4 ,jayapal1 & ,mr4 ,grijalva7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ! ,judici>y  ,a ,,bill 
,to require ! ,attorney ,g5]al & !      
,f$]al ,trade ,commission to conduct    
regul> m]g] retrospective reviews ( !   
economic effects ( m]g]s to :i* section 
#g;,a ( ! ,clayton ,act applies4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,m]g] ,retrospective ,act ( #bjag4  #b4 
,requir$ reviews ( ! economic effects ( 
m]g]s  7a7 ,requir$ reviews ,! ,attorney
 ,g5]al & ! ,f$]al ,trade ,commission   
%all ea* conduct annually no few] ?an #e
 retrospective reviews ( ! economic     
effects ( m]g]s to :i* section #g;,a ( !
 ,clayton ,act 7#ae ,u4,s4,c4 #ah;a7    
applies & :i* h be5 resolv$ by ea*      
ag5cy4 ,! decision ( :i* m]g]s are      
evaluat$ w be made by ! ea* ag5cy 9     

conjunction ) ! advice & agreem5t ( !   
,*ief ,economi/ ( ! ,gov]nm5t           
,acc\ntability ,(fice4 ,t individual w  
report on ! process & c]tify t ! *oices 
( m]g]s satisfy ! crit]ia ( objectivity1
 importance1 & compreh5siv5ess4  7b7    
,cont5t ( reviews ,! reviews conduct$ "u
 subsection 7a7 %all assess ! effects ( 
ea* m]g] on-- 7#a7 ! price & quality (  
products & s]vices affect$ by ! m]g]2   
7#b7 ! effectiv5ess ( any dive/itures or
 m]g] conditions 9 pres]v+ competition 9
 ! affect$ m>kets2  7#c7 any facility   
closures or o!r r$uctions 9 actual or   
plann$ capacity1 or 9 employm5t2  7#d7  
inve/m5t 9 rese>* & developm5t2  7#e7   
av]age sal>y & employm5t b5efits ( ! top
 #a p]c5t1 ! m$ian1 & ! l[e/ #aj p]c5t (
 individuals employ$ by ea* p>ty to !   
m]g] be=e ! m]g] & by ! entity result+ f
 ! m]g]2 &  7#f7 contractual t]ms       
applicable be=e & aft] ! m]g] to (fic]s 
& employees ( ea* p>ty to ! m]g] )      
respect to =c$ arbitration clauses1     
noncompete agreem5ts1 & class-action    

lawsuit waiv]s4  7c7 ,"t p]iod = reviews
 ,ea* m]g] review requir$ by ?is ,act   
%all be complet$ n lat] ?an #c ye>s aft]
 ! m]g] is consummat$1 or #c ye>s aft] !
 effective date ( ?is ,act1 :i*ev] is   
lat]4  7d7 ,publication ( review results
 ,! ,attorney ,g5]al & ! ,f$]al ,trade  
,commission %all publi% on _! respective
 websites 9 a timely mann] ! results ( !
 reviews conduct$ "u subsection 7a7     
toge!r ) z mu* nonconfid5tial data &    
in=mation t all[ ! public to evaluate ! 
reviews4 ,! *ief economi/ ( ! ,g5]al    
,acc\ntability ,(fice %all atte/ to !   
quality & objectivity ( ! /udy4  #c4    
,po/m]g] data ,section #g;,a ( !        
,clayton ,act 7#ae ,u4,s4,c4 #ah;a7 is  
am5d$ by add+ at ! end ! foll[+3  7l7   
7#a7 ,ea* p]son :o ent]s into an        
agreem5t ) ! ,f$]al ,trade ,commission  
or ! ,unit$ ,/ates to resolve a proce$+ 
br\ght "u ! antitru/ laws or "u ! ,f$]al
 ,trade ,commission ,act 7#ae ,u4,s4,c4 
#da et seq47 reg>d+ an acquisition )    
respect to :i* notification is requir$  

"u ?is section %all1 ^u reque/ f !      
,f$]al ,trade ,commission or ! ,assi/ant
 ,attorney ,g5]al1 submit to ! ,f$]al   
,trade ,commission or ! ,assi/ant       
,attorney ,g5]al1 z applicable1         
in=mation necess>y to aid ! reque/+     
ag5cy 9 its retrospective review ( !    
economic effects ( ! transaction z      
requir$ by ! ,m]g] ,retrospective ,act (
 #bjag4  7#b7 ,! ,f$]al ,trade          
,commission1 ) ! concurr5ce ( !         
,assi/ant ,attorney ,g5]al1 by rule     
issu$ 9 accordance ) section #eec (     
title #e1 ,unit$ ,/ates ,code1 &        
consi/5t ) ! purposes ( ?is section %all
 require t ! in=mation describ$ 9       
p>agraph 7#a7 be 9 su* =m & conta9 su*  
docum5t>y mat]ial & in=mation relevant  
to a complet$ acquisition z is necess>y 
& appropriate to enable ! ,f$]al ,trade 
,commission & ! ,assi/ant ,attorney     
,g5]al to assess ! competitive impact ( 
! acquisition "u p>agraph 7#a74  4  #d4 
,effective date2 application ( ,act  7a7
 ,effective ,date ,?is ,act %all take   

effect #ahj days aft] ! date ( !        
enactm5t ( ?is ,act4  7b7 ,application (
 ,act ,?is ,act %all apply ) respect    
to--  7#a7 m]g]s t occurr$ less ?an #b  
ye>s be=e ! date ( ! enactm5t ( ?is     
,act2 &  7#b7 m]g]s t occur on or aft] !
 date ( ! enactm5t ( ?is ,act4  7c7     
,attorney ,g5]al ,9 ord] to promote     
transp>5cy 9 m]g] en=cem5t1 ! ,f$]al    
,trade ,commission & ! ,attorney ,g5]al 
%all publi% no less frequ5tly ?an e #b  
ye>s a report on ! numb]s ( _!          
inve/igations & en=cem5t actions )      
respect to horizontal m]g]s 9 ! prec$+  
#b ye>s4 ,?is report %\ld provide summ>y
 data on inve/igations & actions by     
level ( & *ange 9 conc5tration1 numb] ( 
rema9+ significant competitors1 & ease (
 entry 9 ! relevant m>kets4  7d7        
,au?orization ,( ,appropriations  7#a7  
,9 g5]al ,to c>ry out ! am5dm5ts made by
 ?is ,act1 !re is au?oriz$ to be        
appropriat$ #b1jjj1jjj = ea* ( fiscal   
ye>s #bjah ?r\gh #bjbb4  7#b7           
,availability ( funds ,funds appropriat$

 to c>ry out su* am5dm5t %all rema9     
available = a p]iod ( #b fiscal ye>s4