All Agencies, Latest Month All Agencies, Current FY Geographic Distribution
of Convictions for
All Agencies, FY 2014
4 Prosecutions
in April 2014
22 Prosecutions
in Fiscal Year 2014
Conviction Report
Not Available
10 Convictions
in Fiscal Year 2014

CITE

    15 USC Sec. 1                                               01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 1 - MONOPOLIES AND COMBINATIONS IN RESTRAINT OF TRADE

HEAD

    Sec. 1. Trusts, etc., in restraint of trade illegal; penalty

STATUTE

      Every contract, combination in the form of trust or otherwise, or
    conspiracy, in restraint of trade or commerce among the several
    States, or with foreign nations, is declared to be illegal. Every
    person who shall make any contract or engage in any combination or
    conspiracy hereby declared to be illegal shall be deemed guilty of
    a felony, and, on conviction thereof, shall be punished by fine not
    exceeding $100,000,000 if a corporation, or, if any other person,
    $1,000,000, or by imprisonment not exceeding 10 years, or by both
    said punishments, in the discretion of the court.

SOURCE

    (July 2, 1890, ch. 647, Sec. 1, 26 Stat. 209; Aug. 17, 1937, ch.
    690, title VIII, 50 Stat. 693; July 7, 1955, ch. 281, 69 Stat. 282;
    Pub. L. 93-528, Sec. 3, Dec. 21, 1974, 88 Stat. 1708; Pub. L. 94-
    145, Sec. 2, Dec. 12, 1975, 89 Stat. 801; Pub. L. 101-588, Sec.
    4(a), Nov. 16, 1990, 104 Stat. 2880; Pub. L. 108-237, title II,
    Sec. 215(a), June 22, 2004, 118 Stat. 668.)

AMENDMENTS

      2004 - Pub. L. 108-237 substituted "$100,000,000" for
    "$10,000,000", "$1,000,000" for "$350,000", and "10" for "three".
      1990 - Pub. L. 101-588 substituted "$10,000,000" for "one million
    dollars" and "$350,000" for "one hundred thousand dollars".
      1975 - Pub. L. 94-145 struck out from first sentence two provisos
    granting anti-trust exemption to State fair trade laws.
      1974 - Pub. L. 93-528 substituted "a felony, and, on conviction
    thereof, shall be punished by fine not exceeding one million
    dollars if a corporation, or, if any other person, one hundred
    thousand dollars, or by imprisonment not exceeding three years" for
    "a misdemeanor, and on conviction thereof, shall be punished by
    fine not exceeding fifty thousand dollars, or by imprisonment not
    exceeding one year".
      1955 - Act July 7, 1955, substituted "fifty thousand dollars" for
    "five thousand dollars".
      1937 - Act Aug. 17, 1937, inserted two provisos.
                     EFFECTIVE DATE OF 2001 AMENDMENT
      Pub. L. 107-72, Sec. 4, Nov. 20, 2001, 115 Stat. 650, provided
    that: "This Act [enacting and amending provisions set out as notes
    under this section] and the amendments made by this Act shall take
    effect on September 30, 2001."
                     EFFECTIVE DATE OF 1975 AMENDMENT
      Section 4 of Pub. L. 94-145 provided that: "The amendments made
    by sections 2 and 3 of this Act [amending this section and section
    45 of this title] shall take effect upon the expiration of the
    ninety-day period which begins on the date of enactment of this Act
    [Dec. 12, 1975]."
                       SHORT TITLE OF 2008 AMENDMENT
      Pub. L. 110-327, Sec. 1, Sept. 30, 2008, 122 Stat. 3566, provided
    that: "This Act [amending provisions set out as a note under this
    section] may be cited as the 'Need-Based Educational Aid Act of
    2008'."
                       SHORT TITLE OF 2007 AMENDMENT
      Pub. L. 110-6, Sec. 1, Feb. 26, 2007, 121 Stat. 61, provided
    that: "This Act [amending provisions set out as a note under this
    section] may be cited as the 'Antitrust Modernization Commission
    Extension Act of 2007'."
                       SHORT TITLE OF 2004 AMENDMENT
      Pub. L. 108-237, title II, Sec. 201, June 22, 2004, 118 Stat.
    665, provided that: "This title [amending this section and sections
    2, 3, and 16 of this title and enacting provisions set out as notes
    under this section and section 16 of this title] may be cited as
    the 'Antitrust Criminal Penalty Enhancement and Reform Act of
    2004'."
                       SHORT TITLE OF 2002 AMENDMENT
      Pub. L. 107-273, div. C, title IV, Sec. 14101, Nov. 2, 2002, 116
    Stat. 1921, provided that: "This title [amending sections 3, 12,
    27, and 44 of this title, section 225 of Title 7, Agriculture,
    section 1413 of Title 30, Mineral Lands and Mining, and section
    2135 of Title 42, The Public Health and Welfare, repealing sections
    30 and 31 of this title, enacting provisions set out as a note
    under section 3 of this title, amending provisions set out as notes
    under this section and section 8 of this title, and repealing
    provisions set out as notes under section 15 of this title and
    section 41309 of Title 49, Transportation] may be cited as the
    'Antitrust Technical Corrections Act of 2002'."
                       SHORT TITLE OF 2001 AMENDMENT
      Pub. L. 107-72, Sec. 1, Nov. 20, 2001, 115 Stat. 648, provided
    that: "This Act [enacting and amending provisions set out as notes
    under this section] may be cited as the 'Need-Based Educational Aid
    Act of 2001'."
                       SHORT TITLE OF 1998 AMENDMENT
      Pub. L. 105-297, Sec. 1, Oct. 27, 1998, 112 Stat. 2824, provided
    that: "This Act [enacting section 26b of this title and provisions
    set out as a note under section 26b of this title] may be cited as
    the 'Curt Flood Act of 1998'."
                      SHORT TITLE OF 1997 AMENDMENTS
      Pub. L. 105-43, Sec. 1, Sept. 17, 1997, 111 Stat. 1140, provided
    that: "This Act [enacting and amending provisions set out as notes
    below] may be cited as the 'Need-Based Educational Aid Antitrust
    Protection Act of 1997'."
      Pub. L. 105-26, Sec. 1, July 3, 1997, 111 Stat. 241, provided
    that: "This Act [amending sections 37 and 37a of this title and
    enacting provisions set out as notes under section 37 of this
    title] may be cited as the 'Charitable Donation Antitrust Immunity
    Act of 1997'."
                       SHORT TITLE OF 1995 AMENDMENT
      Pub. L. 104-63, Sec. 1, Dec. 8, 1995, 109 Stat. 687, provided
    that: "This Act [enacting sections 37 and 37a of this title and
    provisions set out as a note under section 37 of this title] may be
    cited as the 'Charitable Gift Annuity Antitrust Relief Act of
    1995'."
                       SHORT TITLE OF 1990 AMENDMENT
      Section 1 of Pub. L. 101-588 provided: "That this Act [amending
    this section and sections 2, 3, 15a, and 19 of this title and
    repealing section 20 of this title] may be cited as the 'Antitrust
    Amendments Act of 1990'."
                       SHORT TITLE OF 1984 AMENDMENT
      Pub. L. 98-544, Sec. 1, Oct. 24, 1984, 98 Stat. 2750, provided:
    "That this Act [enacting sections 34 to 36 of this title and
    provisions set out as a note under section 34 of this title] may be
    cited as the 'Local Government Antitrust Act of 1984'."
                       SHORT TITLE OF 1982 AMENDMENT
      Pub. L. 97-290, title IV, Sec. 401, Oct. 8, 1982, 96 Stat. 1246,
    provided that: "This title [enacting section 6a of this title and
    amending section 45 of this title] may be cited as the 'Foreign
    Trade Antitrust Improvements Act of 1982'."
                       SHORT TITLE OF 1980 AMENDMENT
      Pub. L. 96-493, Sec. 1, Dec. 2, 1980, 94 Stat. 2568, provided:
    "That this Act [enacting section 26a of this title] may be cited as
    the 'Gasohol Competition Act of 1980'."
                       SHORT TITLE OF 1976 AMENDMENT
      Section 1 of Pub. L. 94-435, Sept. 30, 1976, 90 Stat. 1383,
    provided: "That this Act [enacting sections 15c to 15h, 18a, and 66
    of this title, amending sections 12, 15b, 16, 26, and 1311 to 1314
    of this title, section 1505 of Title 18, Crimes and Criminal
    Procedure, and section 1407 of Title 28, Judiciary and Judicial
    Procedure, and enacting provisions set out as notes under sections
    8, 15c, 18a, and 1311 of this title] may be cited as the 'Hart-
    Scott-Rodino Antitrust Improvements Act of 1976'."
                       SHORT TITLE OF 1975 AMENDMENT
      Section 1 of Pub. L. 94-145 provided: "That this Act [amending
    this section and section 45 of this title and enacting provisions
    set out as a note under this section] may be cited as the 'Consumer
    Goods Pricing Act of 1975'."
                       SHORT TITLE OF 1974 AMENDMENT
      Section 1 of Pub. L. 93-528 provided: "That this Act [amending
    this section and section 2, 3, 16, 28, and 29 of this title,
    section 401 of Title 47, Telegraphs, Telephones, and
    Radiotelegraphs, and sections 43, 44, and 45 of former Title 49,
    Transportation, and enacting provisions set out as notes under this
    section and section 29 of this title] may be cited as the
    'Antitrust Procedures and Penalties Act'."
                                SHORT TITLE
      Pub. L. 94-435, title III, Sec. 305(a), Sept. 30, 1976, 90 Stat.
    1397, added immediately following the enacting clause of act July
    2, 1890, the following: "That this Act [this section and sections 2
    to 7 of this title] may be cited as the 'Sherman Act'."
       ANTITRUST ENFORCEMENT ENHANCEMENTS AND COOPERATION INCENTIVES
      Pub. L. 108-237, title II, Secs. 211-214, June 22, 2004, 118
    Stat. 666, 667, provided that:
      "SEC. 211. SUNSET.
      "(a) In General. - Except as provided in subsection (b), the
    provisions of sections 211 through 214 shall cease to have effect 5
    years after the date of enactment of this Act [June 22, 2004].
      "(b) Exception. - With respect to an applicant who has entered
    into an antitrust leniency agreement on or before the date on which
    the provisions of sections 211 through 214 of this subtitle [this
    note] shall cease to have effect, the provisions of sections 211
    through 214 of this subtitle shall continue in effect.
      "SEC. 212. DEFINITIONS.
      "In this subtitle [subtitle A (Secs. 211-215) of title II of Pub.
    L. 108-237, amending this section and sections 2 and 3 of this
    title and enacting this note]:
        "(1) Antitrust division. - The term 'Antitrust Division' means
      the United States Department of Justice Antitrust Division.
        "(2) Antitrust leniency agreement. - The term 'antitrust
      leniency agreement,' or 'agreement,' means a leniency letter
      agreement, whether conditional or final, between a person and the
      Antitrust Division pursuant to the Corporate Leniency Policy of
      the Antitrust Division in effect on the date of execution of the
      agreement.
        "(3) Antitrust leniency applicant. - The term 'antitrust
      leniency applicant,' or 'applicant,' means, with respect to an
      antitrust leniency agreement, the person that has entered into
      the agreement.
        "(4) Claimant. - The term 'claimant' means a person or class,
      that has brought, or on whose behalf has been brought, a civil
      action alleging a violation of section 1 or 3 of the Sherman Act
      [15 U.S.C. 1, 3] or any similar State law, except that the term
      does not include a State or a subdivision of a State with respect
      to a civil action brought to recover damages sustained by the
      State or subdivision.
        "(5) Cooperating individual. - The term 'cooperating
      individual' means, with respect to an antitrust leniency
      agreement, a current or former director, officer, or employee of
      the antitrust leniency applicant who is covered by the agreement.
        "(6) Person. - The term 'person' has the meaning given it in
      subsection (a) of the first section of the Clayton Act [15 U.S.C.
      12(a)].
      "SEC. 213. LIMITATION ON RECOVERY.
      "(a) In General. - Subject to subsection (d), in any civil action
    alleging a violation of section 1 or 3 of the Sherman Act [15
    U.S.C. 1, 3], or alleging a violation of any similar State law,
    based on conduct covered by a currently effective antitrust
    leniency agreement, the amount of damages recovered by or on behalf
    of a claimant from an antitrust leniency applicant who satisfies
    the requirements of subsection (b), together with the amounts so
    recovered from cooperating individuals who satisfy such
    requirements, shall not exceed that portion of the actual damages
    sustained by such claimant which is attributable to the commerce
    done by the applicant in the goods or services affected by the
    violation.
      "(b) Requirements. - Subject to subsection (c), an antitrust
    leniency applicant or cooperating individual satisfies the
    requirements of this subsection with respect to a civil action
    described in subsection (a) if the court in which the civil action
    is brought determines, after considering any appropriate pleadings
    from the claimant, that the applicant or cooperating individual, as
    the case may be, has provided satisfactory cooperation to the
    claimant with respect to the civil action, which cooperation shall
    include -
        "(1) providing a full account to the claimant of all facts
      known to the applicant or cooperating individual, as the case may
      be, that are potentially relevant to the civil action;
        "(2) furnishing all documents or other items potentially
      relevant to the civil action that are in the possession, custody,
      or control of the applicant or cooperating individual, as the
      case may be, wherever they are located; and
        "(3)(A) in the case of a cooperating individual -
          "(i) making himself or herself available for such interviews,
        depositions, or testimony in connection with the civil action
        as the claimant may reasonably require; and
          "(ii) responding completely and truthfully, without making
        any attempt either falsely to protect or falsely to implicate
        any person or entity, and without intentionally withholding any
        potentially relevant information, to all questions asked by the
        claimant in interviews, depositions, trials, or any other court
        proceedings in connection with the civil action; or
        "(B) in the case of an antitrust leniency applicant, using its
      best efforts to secure and facilitate from cooperating
      individuals covered by the agreement the cooperation described in
      clauses (i) and (ii) and subparagraph (A).
      "(c) Timeliness. - If the initial contact by the antitrust
    leniency applicant with the Antitrust Division regarding conduct
    covered by the antitrust leniency agreement occurs after a State,
    or subdivision of a State, has issued compulsory process in
    connection with an investigation of allegations of a violation of
    section 1 or 3 of the Sherman Act [15 U.S.C. 1, 3] or any similar
    State law based on conduct covered by the antitrust leniency
    agreement or after a civil action described in subsection (a) has
    been filed, then the court shall consider, in making the
    determination concerning satisfactory cooperation described in
    subsection (b), the timeliness of the applicant's initial
    cooperation with the claimant.
      "(d) Continuation. - Nothing in this section shall be construed
    to modify, impair, or supersede the provisions of sections 4, 4A,
    and 4C of the Clayton Act [15 U.S.C. 15, 15a, 15c] relating to the
    recovery of costs of suit, including a reasonable attorney's fee,
    and interest on damages, to the extent that such recovery is
    authorized by such sections.
      "SEC. 214. RIGHTS, AUTHORITIES, AND LIABILITIES NOT AFFECTED.
      "Nothing in this subtitle [subtitle A (Secs. 211-215) of title II
    of Pub. L. 108-237, amending this section and sections 2 and 3 of
    this title and enacting this note] shall be construed to -
        "(1) affect the rights of the Antitrust Division to seek a stay
      or protective order in a civil action based on conduct covered by
      an antitrust leniency agreement to prevent the cooperation
      described in section 213(b) from impairing or impeding the
      investigation or prosecution by the Antitrust Division of conduct
      covered by the agreement;
        "(2) create any right to challenge any decision by the
      Antitrust Division with respect to an antitrust leniency
      agreement; or
        "(3) affect, in any way, the joint and several liability of any
      party to a civil action described in section 213(a), other than
      that of the antitrust leniency applicant and cooperating
      individuals as provided in section 213(a) of this title."
                    ANTITRUST MODERNIZATION COMMISSION
      Pub. L. 107-273, div. C, title I, subtitle D, Nov. 2, 2002, 116
    Stat. 1856, as amended by Pub. L. 110-6, Sec. 2, Feb. 26, 2007, 121
    Stat. 61, provided that:
      "SEC. 11051. SHORT TITLE.
      "This subtitle may be cited as the 'Antitrust Modernization
    Commission Act of 2002'.
      "SEC. 11052. ESTABLISHMENT.
      "There is established the Antitrust Modernization Commission (in
    this subtitle referred to as the 'Commission').
      "SEC. 11053. DUTIES OF THE COMMISSION.
      "The duties of the Commission are -
        "(1) to examine whether the need exists to modernize the
      antitrust laws and to identify and study related issues;
        "(2) to solicit views of all parties concerned with the
      operation of the antitrust laws;
        "(3) to evaluate the advisability of proposals and current
      arrangements with respect to any issues so identified; and
        "(4) to prepare and to submit to Congress and the President a
      report in accordance with section 11058.
      "SEC. 11054. MEMBERSHIP.
      "(a) Number and Appointment. - The Commission shall be composed
    of 12 members appointed as follows:
        "(1) Four members, no more than 2 of whom shall be of the same
      political party, shall be appointed by the President. The
      President shall appoint members of the opposing party only on the
      recommendation of the leaders of Congress from that party.
        "(2) Two members shall be appointed by the majority leader of
      the Senate.
        "(3) Two members shall be appointed by the minority leader of
      the Senate.
        "(4) Two members shall be appointed by the Speaker of the House
      of Representatives.
        "(5) Two members shall be appointed by the minority leader of
      the House of Representatives.
      "(b) Ineligibility for Appointment. - Members of Congress shall
    be ineligible for appointment to the Commission.
      "(c) Term of Appointment. -
        "(1) In general. - Subject to paragraph (2), members of the
      Commission shall be appointed for the life of the Commission.
        "(2) Early termination of appointment. - If a member of the
      Commission who is appointed to the Commission as -
          "(A) an officer or employee of a government ceases to be an
        officer or employee of such government; or
          "(B) an individual who is not an officer or employee of a
        government becomes an officer or employee of a government;
    then such member shall cease to be a member of the Commission on
    the expiration of the 90-day period beginning on the date such
    member ceases to be such officer or employee of such government, or
    becomes an officer or employee of a government, as the case may be.
      "(d) Quorum. - Seven members of the Commission shall constitute a
    quorum, but a lesser number may conduct meetings.
      "(e) Appointment Deadline. - Initial appointments under
    subsection (a) shall be made not later than 60 days after the date
    of enactment of this Act [Nov. 2, 2002].
      "(f) Meetings. - The Commission shall meet at the call of the
    chairperson. The first meeting of the Commission shall be held not
    later than 30 days after the date on which all members of the
    Commission are first appointed under subsection (a) or funds are
    appropriated to carry out this subtitle, whichever occurs later.
      "(g) Vacancy. - A vacancy on the Commission shall be filled in
    the same manner as the initial appointment is made.
      "(h) Consultation Before Appointment. - Before appointing members
    of the Commission, the President, the majority and minority leaders
    of the Senate, the Speaker of the House of Representatives, and the
    minority leader of the House of Representatives shall consult with
    each other to ensure fair and equitable representation of various
    points of view in the Commission.
      "(i) Chairperson; Vice Chairperson. - The President shall select
    the chairperson of the Commission from among its appointed members.
    The leaders of Congress from the opposing party of the President
    shall select the vice chairperson of the Commission from among its
    remaining members.
      "SEC. 11055. COMPENSATION OF THE COMMISSION.
      "(a) Pay. -
        "(1) Nongovernment employees. - Each member of the Commission
      who is not otherwise employed by a government shall be entitled
      to receive the daily equivalent of the annual rate of basic pay
      payable for level IV of the Executive Schedule under section 5315
      of title 5 United States Code, as in effect from time to time,
      for each day (including travel time) during which such member is
      engaged in the actual performance of duties of the Commission.
        "(2) Government employees. - A member of the Commission who is
      an officer or employee of a government shall serve without
      additional pay (or benefits in the nature of compensation) for
      service as a member of the Commission.
      "(b) Travel Expenses. - Members of the Commission shall receive
    travel expenses, including per diem in lieu of subsistence, in
    accordance with subchapter I of chapter 57 of title 5, United
    States Code.
      "SEC. 11056. STAFF OF COMMISSION; EXPERTS AND CONSULTANTS.
      "(a) Staff. -
        "(1) Appointment. - The chairperson of the Commission may,
      without regard to the provisions of chapter 51 of title 5 of the
      United States Code (relating to appointments in the competitive
      service), appoint and terminate an executive director and such
      other staff as are necessary to enable the Commission to perform
      its duties. The appointment of an executive director shall be
      subject to approval by the Commission.
        "(2) Compensation. - The chairperson of the Commission may fix
      the compensation of the executive director and other staff
      without regard to the provisions of chapter 51 and subchapter III
      of chapter 53 of title 5 of the United States Code (relating to
      classification of positions and General Schedule pay rates),
      except that the rate of pay for the executive director and other
      staff may not exceed the rate of basic pay payable for level V of
      the Executive Schedule under section 5315 of title 5 United
      States Code, as in effect from time to time.
      "(b) Experts and Consultants. - The Commission may procure
    temporary and intermittent services of experts and consultants in
    accordance with section 3109(b) of title 5, United States Code.
      "SEC. 11057. POWERS OF THE COMMISSION.
      "(a) Hearings and Meetings. - The Commission, or a member of the
    Commission if authorized by the Commission, may hold such hearings,
    sit and act at such time and places, take such testimony, and
    receive such evidence, as the Commission considers to be
    appropriate. The Commission or a member of the Commission may
    administer oaths or affirmations to witnesses appearing before the
    Commission or such member.
      "(b) Official Data. - The Commission may obtain directly from any
    executive agency (as defined in section 105 of title 5 of the
    United States Code) or court information necessary to enable it to
    carry out its duties under this subtitle. On the request of the
    chairperson of the Commission, and consistent with any other law,
    the head of an executive agency or of a Federal court shall provide
    such information to the Commission.
      "(c) Facilities and Support Services. - The Administrator of
    General Services shall provide to the Commission on a reimbursable
    basis such facilities and support services as the Commission may
    request. On request of the Commission, the head of an executive
    agency may make any of the facilities or services of such agency
    available to the Commission, on a reimbursable or nonreimbursable
    basis, to assist the Commission in carrying out its duties under
    this subtitle.
      "(d) Expenditures and Contracts. - The Commission or, on
    authorization of the Commission, a member of the Commission may
    make expenditures and enter into contracts for the procurement of
    such supplies, services, and property as the Commission or such
    member considers to be appropriate for the purpose of carrying out
    the duties of the Commission. Such expenditures and contracts may
    be made only to such extent or in such amounts as are provided in
    advance in appropriation Acts.
      "(e) Mails. - The Commission may use the United States mails in
    the same manner and under the same conditions as other departments
    and agencies of the United States.
      "(f) Gifts, Bequests, and Devises. - The Commission may accept,
    use, and dispose of gifts, bequests, or devises of services or
    property, both real and personal, for the purpose of aiding or
    facilitating the work of the Commission. Gifts, bequests, or
    devises of money and proceeds from sales of other property received
    as gifts, bequests, or devises shall be deposited in the Treasury
    and shall be available for disbursement upon order of the
    Commission.
      "SEC. 11058. REPORT.
      "Not later than 3 years after the first meeting of the
    Commission, the Commission shall submit to Congress and the
    President a report containing a detailed statement of the findings
    and conclusions of the Commission, together with recommendations
    for legislative or administrative action the Commission considers
    to be appropriate.
      "SEC. 11059. TERMINATION OF COMMISSION.
      "The Commission shall cease to exist 60 days after the date on
    which the report required by section 11058 is submitted.
      "SEC. 11060. AUTHORIZATION OF APPROPRIATIONS.
      "There is authorized to be appropriated $4,000,000 to carry out
    this subtitle."
              YEAR 2000 INFORMATION AND READINESS DISCLOSURE
      Pub. L. 105-271, Oct. 19, 1998, 112 Stat. 2386, as amended by
    Pub. L. 107-273, div. C, title IV, Sec. 14102(e), Nov. 2, 2002, 116
    Stat. 1922, known as the Year 2000 Information and Readiness
    Disclosure Act, provided for the free disclosure and exchange of
    information about computer processing problems, solutions, test
    practices and test results, and related matters in connection with
    the transition to the year 2000.
     APPLICATION OF ANTITRUST LAWS TO AWARD OF NEED-BASED EDUCATIONAL
                                    AID
      Pub. L. 107-72, Sec. 3, Nov. 20, 2001, 115 Stat. 648, provided
    that:
      "(a) Study. -
        "(1) In general. - The Comptroller General shall conduct a
      study of the effect of the antitrust exemption on institutional
      student aid under section 568 of the Improving America's Schools
      Act of 1994 (15 U.S.C. 1 note) [Pub. L. 103-382, see below].
        "(2) Consultation. - The Comptroller General shall have final
      authority to determine the content of the study under paragraph
      (1), but in determining the content of the study, the Comptroller
      General shall consult with -
          "(A) the institutions of higher education participating under
        the antitrust exemption under section 568 of the Improving
        America's Schools Act of 1994 (15 U.S.C. 1 note) (referred to
        in this Act [see Short Title of 2001 Amendment note above] as
        the 'participating institutions');
          "(B) the Antitrust Division of the Department of Justice; and
          "(C) other persons that the Comptroller General determines
        are appropriate.
        "(3) Matters studied. -
          "(A) In general. - The study under paragraph (1) shall -
            "(i) examine the needs analysis methodologies used by
          participating institutions;
            "(ii) identify trends in undergraduate costs of attendance
          and institutional undergraduate grant aid among participating
          institutions, including -
         "(I) the percentage of first-year students receiving
          institutional grant aid;
         "(II) the mean and median grant eligibility and institutional
          grant aid to first-year students; and
         "(III) the mean and median parental and student contributions
          to undergraduate costs of attendance for first year students
          receiving institutional grant aid;
            "(iii) to the extent useful in determining the effect of
          the antitrust exemption under section 568 of the Improving
          America's Schools Act of 1994 (15 U.S.C. 1 note), examine -
         "(I) comparison data, identified in clauses (i) and (ii), from
          institutions of higher education that do not participate
          under the antitrust exemption under section 568 of the
          Improving America's Schools Act of 1994 (15 U.S.C. 1 note);
          and
         "(II) other baseline trend data from national benchmarks; and
            "(iv) examine any other issues that the Comptroller General
          determines are appropriate, including other types of aid
          affected by section 568 of the Improving America's Schools
          Act of 1994 (15 U.S.C. 1 note).
          "(B) Assessment. -
            "(i) In general. - The study under paragraph (1) shall
          assess what effect the antitrust exemption on institutional
          student aid has had on institutional undergraduate grant aid
          and parental contribution to undergraduate costs of
          attendance.
            "(ii) Changes over time. - The assessment under clause (i)
          shall consider any changes in institutional undergraduate
          grant aid and parental contribution to undergraduate costs of
          attendance over time for institutions of higher education,
          including consideration of -
         "(I) the time period prior to adoption of the consensus
          methodologies at participating institutions; and
         "(II) the data examined pursuant to subparagraph (A)(iii).
      "(b) Report. -
        "(1) In general. - Not later than September 30, 2006, the
      Comptroller General shall submit a report to the Committee on the
      Judiciary of the Senate and the Committee on the Judiciary of the
      House of Representatives that contains the findings and
      conclusions of the Comptroller General regarding the matters
      studied under subsection (a).
        "(2) Identifying individual institutions. - The Comptroller
      General shall not identify an individual institution of higher
      education in information submitted in the report under paragraph
      (1) unless the information on the institution is available to the
      public.
      "(c) Recordkeeping Requirement. -
        "(1) In general. - For the purpose of completing the study
      under subsection (a)(1), a participating institution shall -
          "(A) collect and maintain for each academic year until the
        study under subsection (a)(1) is completed -
            "(i) student-level data that is sufficient, in the judgment
          of the Comptroller General, to permit the analysis of
          expected family contributions, identified need, and
          undergraduate grant aid awards; and
            "(ii) information on formulas used by the institution to
          determine need; and
          "(B) submit the data and information under paragraph (1) to
        the Comptroller General at such time as the Comptroller General
        may reasonably require.
        "(2) Non-participating institutions. - Nothing in this
      subsection shall be construed to require an institution of higher
      education that does not participate under the antitrust exemption
      under section 568 of the Improving America's Schools Act of 1994
      (15 U.S.C. 1 note) to collect and maintain data under this
      subsection."
      Pub. L. 103-382, title V, Sec. 568(a)-(d), Oct. 20, 1994, 108
    Stat. 4060, 4061, as amended by Pub. L. 105-43, Sec. 2(a), Sept.
    17, 1997, 111 Stat. 1140; Pub. L. 105-244, title I, Sec. 102(a)(3),
    Oct. 7, 1998, 112 Stat. 1618; Pub. L. 107-72, Sec. 2, Nov. 20,
    2001, 115 Stat. 648; Pub. L. 110-327, Sec. 2, Sept. 30, 2008, 122
    Stat. 3566, provided that:
      "(a) Exemption. - It shall not be unlawful under the antitrust
    laws for 2 or more institutions of higher education at which all
    students admitted are admitted on a need-blind basis, to agree or
    attempt to agree -
        "(1) to award such students financial aid only on the basis of
      demonstrated financial need for such aid;
        "(2) to use common principles of analysis for determining the
      need of such students for financial aid if the agreement to use
      such principles does not restrict financial aid officers at such
      institutions in their exercising independent professional
      judgment with respect to individual applicants for such financial
      aid;
        "(3) to use a common aid application form for need-based
      financial aid for such students if the agreement to use such form
      does not restrict such institutions in their requesting from such
      students, or in their using, data in addition to the data
      requested on such form; or
        "(4) to exchange through an independent third party, before
      awarding need-based financial aid to any of such students who is
      commonly admitted to the institutions of higher education
      involved, data submitted by the student so admitted, the
      student's family, or a financial institution on behalf of the
      student or the student's family relating to assets, liabilities,
      income, expenses, the number of family members, and the number of
      the student's siblings in college, if each of such institutions
      of higher education is permitted to retrieve such data only once
      with respect to the student.
      "(b) Limitations. - Subsection (a) shall not apply with respect
    to -
        "(1) any financial aid or assistance authorized by the Higher
      Education Act of 1965 (20 U.S.C. 1001 et seq.); or
        "(2) any contract, combination, or conspiracy with respect to
      the amount or terms of any prospective financial aid award to a
      specific individual.
      "(c) Definitions. - For purposes of this section -
        "(1) the term 'alien' has the meaning given such term in
      section 101(3) [101(a)(3)] of the Immigration and Nationality Act
      (8 U.S.C. 1101(3) [1101(a)(3)]);
        "(2) the term 'antitrust laws' has the meaning given such term
      in subsection (a) of the first section of the Clayton Act (15
      U.S.C. 12(a)), except that such term includes section 5 of the
      Federal Trade Commission Act (15 U.S.C. 45) to the extent such
      section applies to unfair methods of competition;
        "(3) the term 'institution of higher education' has the meaning
      given such term in section 101 of the Higher Education Act of
      1965 [20 U.S.C. 1001];
        "(4) the term 'lawfully admitted for permanent residence' has
      the meaning given such term in section 101(20) [101(a)(20)] of
      the Immigration and Nationality Act (8 U.S.C. 1101(20)
      [1101(a)(20)]);
        "(5) the term 'national of the United States' has the meaning
      given such term in section 101(22) [101(a)(22)] of the
      Immigration and Nationality Act (8 U.S.C. 1101(22)
      [1101(a)(22)]);
        "(6) the term 'on a need-blind basis' means without regard to
      the financial circumstances of the student involved or the
      student's family; and
        "(7) the term 'student' means, with respect to an institution
      of higher education, a national of the United States or an alien
      admitted for permanent residence who is admitted to attend an
      undergraduate program at such institution on a full-time basis.
      "(d) Expiration. - Subsection (a) shall expire on September 30,
    2015."
      [Pub. L. 105-43, Sec. 2(b), Sept. 17, 1997, 111 Stat. 1140,
    provided that: "The amendments made by subsection (a) [amending
    section 568(a)-(d) of Pub. L. 103-382, set out above] shall take
    effect immediately before September 30, 1997."]
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