,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #cjf  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,janu>y #ca1 #bjai,ms4 
,klobu*> 7= h]self1 ,mr4 ,m>key1 ,mr4   
,blum5?al1 ,ms4 ,hirono1 ,mr4 ,durb91   
,mr4 ,book]1 ,ms4 ,baldw91 ,mr4 ,k+1 &  
,mr4 ,leahy7 introduc$ ! foll[+ bill2   
:i* 0 read twice & ref]r$ to !          
,committee on ! ,judici>y  ,a ,,bill    
,to promote m]g] en=cem5t & protect     
competition ?r\gh adju/+ prem]g] fil+   
fees1 increas+ antitru/ en=cem5t        
res\rces1 & improv+ ! in=mation provid$ 
to antitru/ en=c]s4  #a4 ,%ort title    
,?is ,act may be cit$ z ! ,m]g]         
,en=cem5t ,improvem5t ,act4  #b4        
,prem]g] notification fil+ fees ,section
 #fje ( ,public ,law #aja-afb 7#ae      
,u4,s4,c4 #ah;a note7 is am5d$-- 7#a7 9 
subsection 7b7--  7,a7 9 p>agraph 7#a7--
 7i7 by /rik+ #de1jjj & ins]t+ #cj1jjj2 
7ii7 by /rik+ #ajj1jjj1jjj & ins]t+     
#afa1ejj1jjj2  7iii7 by /rik+ #bjjd &   
ins]t+ #bjbj2 &  7iv7 by /rik+ #bjjc &  
ins]t+ #bjai2  7,b7 9 p>agraph 7#b7--   

7i7 by /rik+ #abe1jjj & ins]t+ #ajj1jjj2
  7ii7 by /rik+ #ajj1jjj1jjj & ins]t+   
#afa1ejj1jjj2  7iii7 by /rik+ b less &  
ins]t+ b is less2 &  7iv7 by /rik+ & at 
! end2  7,c7 9 p>agraph 7#c7-- 7i7 by   
/rik+ #bhj1jjj & ins]t+ #bej1jjj2 &     
7ii7 by /rik+ ! p]iod at ! end & ins]t+ 
b is less ?an #a1jjj1jjj1jjj 7z s adju/$
 & publi%$722 &  7,d7 by add+ at ! end !
 foll[+3  7#d7 #djj1jjj if ! aggregate  
total am\nt det]m9$ "u section          
#g;,a7a77#b7 ( ! ,clayton ,act 7#ae     
,u4,s4,c4 #ah;a7a77#b77 is n less ?an   
#a1jjj1jjj1jjj 7z s adju/$ & publi%$7 b 
is less ?an #b1jjj1jjj1jjj 7z s adju/$ &
 publi%$72  7#e7 #hjj1jjj if ! aggregate
 total am\nt det]m9$ "u section         
#g;,a7a77#b7 ( ! ,clayton ,act 7#ae     
,u4,s4,c4 #ah;a7a77#b77 is n less ?an   
#b1jjj1jjj1jjj 7z s adju/$ & publi%$7 b 
is less ?an #e1jjj1jjj1jjj 7z s adju/$ &
 publi%$72 &  7#f7 #b1bej1jjj if !      
aggregate total am\nt det]m9$ "u section
 #g;,a7a77#b7 ( ! ,clayton ,act 7#ae    
,u4,s4,c4 #ah;a7a77#b77 is n less ?an   

#e1jjj1jjj1jjj 7z s adju/$ & publi%$74  
2 &  7#b7 by add+ at ! end ! foll[+3    
7c7 7#a7 ,= ea* fiscal ye> comm5c+ aft] 
,septemb] #cj1 #bjbj1 ! fil+ fees 9 ?is 
section %all be increas$ z ( ,octob] #a 
ea* ye> by an am\nt equal to ! p]c5tage 
increase1 if any1 9 ! ,produc] ,price   
,index1 z det]m9$ by ! ,dep>tm5t (      
,comm]ce or its successor1 = ! ye> !n   
end$ ov] ! level s e/abli%$ = ! ye> end+
 ,septemb] #cj1 #bjai4  7#b7 ,z soon z  
practicable1 b n lat] ?an ,janu>y #ca ( 
ea* ye>1 ! ,f$]al ,trade ,commission    
%all publi% ! adju/$ am\nts requir$ by  
?is section4  7#c7 ,! ,f$]al ,trade     
,commission %all n adju/ am\nts requir$ 
by ?is section if ! p]c5tage increase   
describ$ 9 p>agraph 7#a7 is less ?an #a 
p]c5t4  7#d7 ,an am\nt adju/$ "u ?is    
section %all be r\nd$ to ! ne>e/        
multiple ( #e1jjj4  4  #c4              
,po/-settlem5t 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 on an annual basis 
dur+ ! #e-ye> p]iod beg9n+ on ! date on 
:i* ! agreem5t is ent]$ into1 submit to 
! ,f$]al ,trade ,commission or !        
,assi/ant ,attorney ,g5]al1 z           
applicable1 in=mation suffici5t = !     
,f$]al ,trade ,commission or ! ,unit$   
,/ates1 z applicable1 to assess !       
competitive impact ( ! acquisition1     
includ+--  7,a7 ! pric+1 availability1 &
 quality ( any product or s]vice1 or    
inputs !reto1 9 any m>ket1 t 0 cov]$ by 
! agreem5t2  7,b7 ! s\rce1 & ! result+  
magnitude & ext5t1 ( any co/-sav+       
effici5cies or any consum] b5efits t 7  
claim$ z a b5efit ( ! acquisition & !   
ext5t to :i* any co/ sav+s 7 pass$ on to
 consum]s2 &  7,c7 ! effectiv5ess ( any 
dive/itures or any conditions plac$ on !

 acquisition 9 prev5t+ or mitigat+ h>m  
to competition4  7#b7 ,! requirem5t to  
provide ! in=mation describ$ 9 p>agraph 
7#a7 %all be includ$ 9 an agreem5t      
describ$ 9 t p>agraph4  7#c7 ,! ,f$]al  
,trade ,commission1 ) ! concurr5ce ( !  
,assi/ant ,attorney ,g5]al1 by rule 9   
accordance ) section #eec ( title #e1   
,unit$ ,/ates ,code1 & consi/5t ) !     
purposes ( ?is section--  7,a7 %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 propos$ acquisition z is necess>y &
 appropriate to enable ! ,f$]al ,trade  
,commission & ! ,assi/ant ,attorney     
,g5]al to assess ! competitive impact ( 
! acquisition "u p>agraph 7#a72 &  7,b7 
may-- 7i7 def9e ! t]ms us$ 9 ?is        
subsection2  7ii7 exempt1 f !           
requirem5ts ( ?is section1 in=mation n  
relevant 9 assess+ ! competitive impact 
( ! acquisition "u p>agraph 7#a72 &     
7iii7 prescribe su* o!r rules z may be  
necess>y & appropriate to c>ry out !    

purposes ( ?is section4  4  #d4 ,f$]al  
,trade ,commission /udy ,n lat] ?an #b  
ye>s aft] ! date ( enactm5t ( ?is ,act1 
! ,f$]al ,trade ,commission1 9          
consultation ) ! ,securities & ,ex*ange 
,commission1 %all conduct & publi% a    
/udy1 us+ any compulsory process        
necess>y1 rely+ on public data &        
in=mation if available & suffici5t1 &   
incorporat+ public comm5t on--  7#a7 !  
ext5t to :i* an in/itutional inve/or or 
relat$ in/itutional inve/ors h own]%ip  
or control int]e/s 9 competitors 9      
mod]ately conc5trat$ or conc5trat$      
m>kets2  7#b7 ! economic impacts ( su*  
ov]lapp+ own]%ip or control2 &  7#c7 !  
me*anisms by :i* an in/itutional inve/or
 c\ld affect competition among !        
companies 9 :i* x inve/s & :e!r su*     
me*anisms are preval5t4  #e4 ,,gao      
/udies  7a7 ,9 g5]al ,n lat] ?an #ah    
mon?s aft] ! date ( enactm5t ( ?is ,act1
 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates 
%all--  7#a7 conduct a /udy to assess ! 
success ( m]g] rem$ies requir$ by !     

,dep>tm5t ( ,ju/ice or ! ,f$]al ,trade  
,commission 9 cons5t decrees ent]$ into 
s9ce #f ye>s prior to ! date ( enactm5t 
( ?is ,act1 includ+ ! impact on ma9ta9+ 
competition1 a comp>ison ( /ructural &  
conduct rem$ies1 & ! viability ( dive/$ 
assets2 &  7#b7 conduct a /udy on !     
impact ( m]g]s & acquisitions on wages1 
employm5t1 innovation1 & new bus9ess    
=mation4  7b7 ,update ,! ,comptroll]    
,g5]al ( ! ,unit$ ,/ates %all-- 7#a7    
update ! /udy "u p>agraph 7#a7 #c ye>s &
 #f ye>s aft] ! date ( enactm5t ( ?is   
,act bas$ on ! in=mation provid$ "u     
section #g;,a7l7 ( ! ,clayton ,act1 z   
add$ by section #c ( ?is ,act2 &  7#b7  
id5tify specific rem$ies or alleg$ m]g] 
b5efits t require additional in=mation  
or rese>*4  #f4 ,au?orization (         
appropriations  7a7 ,9 g5]al ,!re is    
au?oriz$ to be appropriat$ = fiscal ye> 
#bjbj-- 7#a7 #ahj1fjf1jjj = ! ,antitru/ 
,division ( ! ,dep>tm5t ( ,ju/ice2 &    
7#b7 #cdb1jjj1jjj = ! ,f$]al ,trade     
,commission4