Securities and Exchange Commission Authorization Act of 1996

[AI summary unavailable — showing source text] Securities and Exchange Commission Authorization Act of 1996 - Authorizes appropriations for the Securities and Exchange Commission (SEC) for FY 1997. (Sec. 4) Amends the Securities Act of 1933 to require the SEC to collect securities registration fees that are designed to recover the costs to the Government of the securities registration process, and costs related to such process, including enforcement activities, policy and rulemaking activities, administration, legal services, and international regulatory activities. Revises the registration fee formula, increasing the minimum fee from $100 to $200, with a reduction to $182 beginning FY 2002. States that such fee shall be the sum of a general revenue fee and an offsetting collection fee. Sets the general revenue fee at $200 for each $1 million of the maximum aggregate price at which the securities in question are sold (reduced to $182 per $1 million beginning FY 2002). Schedules the offsetting collection rate for each $1 million of the maximum aggregate sales price of the securities in question in declining specified levels from $103 in FY 1997 to $17 in FY 2000, and zero in each succeeding fiscal year. Declares: (1) that no off…