TIME Act
Latest action · Apr 29, 2016 Referred to the Subcommittee on Commerce, Manufacturing, and Trade.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 28, 2016
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Technological Innovation through Modernizing Enforcement Act or the TIME Act
This bill amends the Federal Trade Commission Act to require any consent order entered into by the Federal Trade Commission (FTC) to include a termination clause providing for the order to expire not later than eight years after it is entered into, unless it relates to alleged fraud by an entity subject to the order and requires a longer time limit. In determining the time limit, the FTC must consider: (1) the impact of technological progress on the order's continuing relevance; and (2) whether an entity, without a consent order beyond eight years, would engage in activities that violate laws against unfair methods of competition, or against unfair or deceptive acts or practices, in or affecting commerce.
A consent order longer than five years that is unrelated to alleged fraud by the entity must include a clause providing for the FTC to review the order five years after it is entered into. The bill also allows entities subject to a consent order that is unrelated to alleged fraud and has been effective for at least five years to petition the FTC to terminate the order. If the FTC determines that such a consent order no longer serves its purposes, the FTC shall terminate the order.
Cosponsors 1
Members who signed on, in the order they did. All signed on Sep 7, 2016.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TX | Pete Sessions | Sep 7, 2016 |
Actions 3
Everything that happened, newest first.
- Apr 29, 2016Referred to the Subcommittee on Commerce, Manufacturing, and Trade.
- Apr 28, 2016Introduced in House
- Apr 28, 2016Referred to the House Committee on Energy and Commerce.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 5510 | FTC Process and Transparency Reform Act of 2016 | Related bill | Dec 13, 2016 |
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- Apr 28, 2016Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.