Congress passes the Merger Filing Fee Modernization Act of 2022, changing Hart-ScottRodino Act filing fees and adding disclosure requirements for certain foreign subsidies.

On December 23, 2022, as part of a broader omnibus spending bill, Congress passed the Merger Filing Fee Modernization Act of 2022 (Fee Modernization Act), which was signed into law by President Biden on December 29, 2022. The Fee Modernization Act reduces the merger notification filing fees for some smaller reportable transactions, while increasing the fees for larger transactions. The FTC is expected to announce the effective date of the new fees shortly. In addition, the Fee Modernization Act imposes new disclosure obligations on parties that have received a subsidy from a foreign entity of concern, among other changes.