3.0.0 3527 2022-02-28T11:39:40Z 2022-02-28T11:39:40Z House H HR 2011-11-30 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HULTGREN:H.R. 3527.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3[Page H7999]]]> hsag00 Agriculture Committee House Standing Reported by 2012-02-08T22:22:49Z Markup by 2012-01-25T18:07:41Z Referred to 2011-11-30T15:01:20Z H. Rept. 112-391 2012-02-08 Placed on the Union Calendar, Calendar No. 270. Calendars H12410 2 House floor actions U00270 2012-02-08 Reported (Amended) by the Committee on Agriculture. H. Rept. 112-391. Committee H12200 2 House floor actions hsag00 Agriculture Committee 2012-02-08 Reported (Amended) by the Committee on Agriculture. H. Rept. 112-391. Committee 5000 9 Library of Congress hsag00 Agriculture Committee 2012-01-25 hsag00 Agriculture Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2012-01-25 hsag00 Agriculture Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2011-11-30 Referred to the House Committee on Agriculture. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2011-11-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-11-30 Introduced in House IntroReferral 1000 9 Library of Congress H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 N B001254 Rep. Boren, Dan [D-OK-2] Dan Boren D OK 2 2011-11-30 True B001232 Rep. Biggert, Judy [R-IL-13] JUDY BIGGERT R IL 13 2011-11-30 True D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2011-11-30 True J000285 Rep. Johnson, Timothy V. [R-IL-15] TIMOTHY JOHNSON R IL V. 15 2011-11-30 True L000567 Rep. Lance, Leonard [R-NJ-7] Leonard Lance R NJ 7 2011-11-30 True K000378 Rep. Kinzinger, Adam [R-IL-11] Adam Kinzinger R IL 11 2011-11-30 True M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2011-11-30 True S001179 Rep. Schock, Aaron [R-IL-18] Aaron Schock R IL 18 2011-11-30 True B001252 Rep. Barrow, John [D-GA-12] John Barrow D GA 12 2011-12-13 False K000210 Rep. King, Peter T. [R-NY-3] PETER KING R NY T. 3 2012-01-13 False M001142 Rep. Matheson, Jim [D-UT-2] JIM MATHESON D UT 2 2012-01-18 False R000573 Rep. Ross, Mike [D-AR-4] MIKE ROSS D AR 4 2012-01-23 False Finance and Financial Sector Banking and financial institutions regulation Commodities markets Financial services and investments Securities Finance and Financial Sector 00 2011-11-30 Introduced in House 2012-03-02T22:14:55Z Protecting Main Street End-Users From Excessive Regulation - Amends the Commodity Exchange Act to: (1) redefine a "swap dealer" as, primarily, any person engaged in the business of entering into swaps, but (2) remove from the definition any person who regularly enters into swaps with counterparties as an ordinary course of business for its own account.

Revises the current exception to that definition to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of: (1) hedging or mitigating commercial risk, or (2) achieving the person's own trading or investment objectives.

Directs the Commodity Futures Trading Commission (CFTC) to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation.

]]> 17 2012-02-08 Reported to House with amendment(s) 2012-03-02T22:18:54Z Protecting Main Street End-Users From Excessive Regulation - (Sec. 2) Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of hedging or mitigating commercial risk.

Directs the Commodity Futures Trading Commission (CFTC) to adopt standards distinguishing: (1) the activities of a swap dealer specified in current law, and (2) entering into swaps for a person's own account in order to achieve its own trading objectives as determined by the CFTC.

Directs the CFTC to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation.

(Sec. 3) States that this Act shall be implemented: (1) without regard to federal law regarding coordination of federal information policy or rulemaking requirements concerning notice and comment, and (2) through promulgation of an interim final rule.

]]> Protecting Main Street End-Users From Excessive Regulation Short Titles as Introduced Protecting Main Street End-Users From Excessive Regulation Short Titles as Reported to House Protecting Main Street End-Users From Excessive Regulation H House Display Title Protecting Main Street End-Users From Excessive Regulation Official Title as Introduced To amend the Commodity Exchange Act to clarify the definition of swap dealer. Reported in House 2012-02-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr3527rh/xml/BILLS-112hr3527rh.xml Introduced in House 2011-11-30T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr3527ih/xml/BILLS-112hr3527ih.xml 2012-02-08 Placed on the Union Calendar, Calendar No. 270. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.