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S. Rept. 115-339 1 (2018-09-17)

handle is hein.congrecreports/crptxabuz0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Op Calendar No. 569 115TH CONGRESS SEAEREPORT 2d Session J SENATE1 115-339 MUSIC MODERNIZATION ACT SEPTEMBER 17, 2018.-Ordered to be printed Mr. GRASSLEY, from the Committee on the Judiciary, submitted the following REPORT [To accompany S. 2823] [Including cost estimate of the Congressional Budget Office] The Committee on the Judiciary, to which was referred the bill (S. 2823) a bill to modernize copyright law, and for other purposes, having considered the same, reports favorably thereon with an amendment in the nature of a substitute and recommends that the bill, as amended, do pass. CONTENTS Page I. Background and Purpose of the Music Modernization Act ........................ 1 II. History of the Bill and Committee Consideration ....................................... 21 III. Section-by-Section Summary of the Bill ...................................................... 22 IV. Congressional Budget Office Cost Estimate ................................................ 29 V . Regulatory Im pact Evaluation ...................................................................... 34 V I. C on clu sion ..................................................................................................... . 35 VII. Changes to Existing Law Made by the Bill, as Reported ........................... 35 I. BACKGROUND AND PURPOSE OF THE MUSIC MODERNIZATION ACT A. BACKGROUND The United States' copyright laws have helped make this nation the center of the music world. Copyright laws protect creators and artists, allowing them to thrive by granting them exclusive rights and protections to their works. However, the law has not kept pace with the music industry to reflect changes in consumer preferences and technological developments. The current statutory scheme ap- plies inconsistent rules that place certain technologies at a dis- advantage and result in inequitable compensation variances for 79-010