1.This Act may be cited as
the Energy Tax Rebate Act of
2005
.
<enum>I</enum><header>Energy tax
rebate</header>
<section id="IDAEDE1C795E954CFF9657036765B399C1"><enum>101.</enum><header>Energy tax
rebate</header>
<subsection id="ID722005FCDDDB400CB1A9D7225E4B5F2C"><enum>(a)</enum><header>In
general</header><text>Subchapter B of chapter 65 of the Internal Revenue Code
of 1986 (relating to rules of special application in the case of abatements,
credits, and refunds) is amended by adding at the end the following new
section:</text>
<quoted-block id="IDD43B32BAB90246F5AD9F22A60030218E">
<section id="ID31EA5CA910FB428A86B660A70023423C"><enum>6430.</enum><header>Energy tax
rebate</header>
<subsection id="ID9BB47B85314547BF8C5138F9F60054B5"><enum>(a)</enum><header>General
rule</header><text>Except as otherwise provided in this section, each
individual shall be treated as having made a payment against the tax imposed by
chapter 1 for the taxable year beginning in 2005 in an amount equal to the
lesser of—</text>
<paragraph id="ID4572916587524E7A937E74CBBE300056"><enum>(1)</enum><text>the amount of the
taxpayer’s liability for tax for such taxpayer’s preceding taxable year,
or</text>
</paragraph><paragraph id="IDF0C8C49BD7154104A27DBE3546612C23"><enum>(2)</enum><text>$500.</text>
</paragraph></subsection><subsection id="IDC9237C536A414934A18B81958200A9AC"><enum>(b)</enum><header>Liability for
tax</header><text>For purposes of this section, the liability for tax for any
taxable year shall be the excess (if any) of—</text>
<paragraph id="ID2C013EF15F4245B7ACD0F9EC073E4414"><enum>(1)</enum><text>the sum
of—</text>
<subparagraph id="ID6A94268CE1EC4149B3F8D4D400DF8C75"><enum>(A)</enum><text>the taxpayer’s
regular tax liability (within the meaning of section 26(b)) for the taxable
year,</text>
</subparagraph><subparagraph id="ID9BDF04570C9644049541F83896487693"><enum>(B)</enum><text>the tax imposed
by section 55(a) with respect to such taxpayer for the taxable year, and</text>
</subparagraph><subparagraph id="ID67442F4F7FF54CD7B37BD1BD13FF86F0"><enum>(C)</enum><text>the taxpayer’s
social security taxes (within the meaning of section 24(d)(2)) for the taxable
year, over</text>
</subparagraph></paragraph><paragraph id="IDA0C08740AAB84038BF9BAC17E4F9C6B9"><enum>(2)</enum><text>the sum of the
credits allowable under part IV of subchapter A of chapter 1 (other than the
credits allowable under subpart C thereof, relating to refundable credits) for
the taxable year.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID95D6859311C949788F4645CC54489311"><enum>(c)</enum><header>Taxable income
limitation</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID83AAD091555E4ACBA34FFA50ED07B1A2"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">If the taxable income
of the taxpayer for the preceding taxable year exceeds the maximum taxable
income in the table under subsection (a), (b), (c), or (d) of section 1,
whichever is applicable, to which the 25 percent rate applies, the dollar
amount otherwise determined under subsection (a) for such taxpayer shall be
reduced (but not below zero) by the amount of the excess.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID1D884250D91E4F639D47D628768DB8EF"><enum>(2)</enum><header>Change in
return status</header><text display-inline="yes-display-inline">In the case of
married individuals filing a joint return for the taxable year who did not file
such a joint return for the preceding taxable year, paragraph (1) shall be
applied by reference to the taxable income of both such individuals for the
preceding taxable year.</text>
</paragraph></subsection><subsection id="ID6487BE0E84134134A8667EC2ADD92573"><enum>(d)</enum><header>Date payment
deemed made</header>
<paragraph id="ID9EC7963219AE4A4D9116ADA1FE29C699"><enum>(1)</enum><header>In
general</header><text>The payment provided by this section shall be deemed made
on the date of the enactment of the <short-title>Energy
Tax Rebate Act of 2005</short-title>.</text>
</paragraph><paragraph id="IDED0AF801214B47028CB7F14014B524BD"><enum>(2)</enum><header>Remittance of
payment</header><text>The Secretary shall remit to each taxpayer the payment
described in paragraph (1) not later than the date which is 30 days after the
date specified in paragraph (1).</text>
</paragraph></subsection><subsection id="IDC511BC7F91E344AFA2EB1769F7C49613"><enum>(e)</enum><header>Certain persons
not eligible</header><text>This section shall not apply to—</text>
<paragraph id="ID22F78E19B5D046CBA2CFC0C63E557252"><enum>(1)</enum><text>any individual
with respect to whom a deduction under section 151 is allowable to another
taxpayer for a taxable year beginning in the calendar year in which such
individual’s taxable year begins,</text>
</paragraph><paragraph id="ID964E6F365B6742F3B4B300FC93FCC798"><enum>(2)</enum><text>any estate or
trust, or</text>
</paragraph><paragraph id="IDB96E0E8EE8944E72A9FAF56DDF598D76"><enum>(3)</enum><text>any nonresident
alien
individual.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID6E89FB0253334AA78E00E8C516BE294F"><enum>(b)</enum><header>Conforming
amendment</header><text>Section 1324(b)(2) of title 31, United States Code, is
amended by inserting before the period <quote>, or enacted by the
<short-title>Energy Tax Rebate Act of
2005</short-title></quote>.</text>
</subsection><subsection id="ID95567AAA81E144A69257FBE870943F54"><enum>(c)</enum><header>Clerical
amendment</header><text>The table of sections for subchapter B of chapter 65 of
the Internal Revenue Code of 1986 is amended by adding at the end the following
new item:</text>
<quoted-block id="ID9E1971E27CE94D668DE2A0B1CB928DFF" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 6430. Energy tax
rebate.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID656112393D6D4B208EB6E43103DAA46C"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect on the
date of the enactment of this Act.</text>
</subsection></section><enum>II</enum><header>Low-income home
energy assistance</header>
<section id="id32F38E4CD2A840CCB520927EE628A646"><enum>201.</enum><header>Sense of the
Senate regarding full funding for the Low-Income Home Energy Assistance
Program</header><text display-inline="no-display-inline">It is the sense of the
Senate that Congress should appropriate $5,100,000,000 for fiscal year 2006 and
each subsequent fiscal year for the Low-Income Home Energy Assistance Program,
under section 2602(b) of the Low-Income Home Energy Assistance Act of
1981.</text>
</section><enum>III</enum><header>Consumer
protections</header>
<section id="idDBED223CA708489588DD5D963003568E"><enum>301.</enum><header>Unfair or
deceptive acts or practice in commerce related to pricing of petroleum
products</header>
<subsection id="id342D4375DA9C4B49A636323DFD07CB34"><enum>(a)</enum><header>Sales to
consumers at unconscionable price</header>
<paragraph id="id338D6AD43ED4460F87E43924DA5CC32A"><enum>(1)</enum><header>In
general</header><text>It is unlawful for any person to sell crude oil,
gasoline, or petroleum distillates at a price that—</text>
<subparagraph id="id44D9098776DD49EAACC7C07E681562EE"><enum>(A)</enum><text>is unconscionably
excessive; or</text>
</subparagraph><subparagraph id="id34AF527925094FE7BB938FE1344FF1C9"><enum>(B)</enum><text>indicates the
seller is taking unfair advantage of circumstances to increase prices
unreasonably.</text>
</subparagraph></paragraph><paragraph id="idCAA723CDEE27414CA3B05B52AB023F7C"><enum>(2)</enum><header>Factors
considered</header><text>In determining whether a violation of paragraph (1)
has occurred, there shall be taken into account, among other factors,
whether—</text>
<subparagraph id="id78EC8E29C71C42A786F108D56DD5F379"><enum>(A)</enum><text>the amount charge
represents a gross disparity between the price fo the crude oil, gasoline, or
petroleum distillate sold and the price at which it was offered for sale in the
usual course of the seller's business immediately prior to the energy
emergency; or</text>
</subparagraph><subparagraph id="id724473E2B2CB4AFBBBDD00953FB160FB"><enum>(B)</enum><text>the amount
charged grossly exceeds the price at which the same or similar crude oil,
gasoline, or petroleum distillate was readily obtainable by other purchasers in
the area to which the declaration applies.</text>
</subparagraph></paragraph><paragraph id="idE24A775241F146FA932358EE7722A3B6"><enum>(3)</enum><header>Mitigating
factors</header><text>In determining whether a violation of paragraph (1) has
occurred, there also shall be taken into account, among other factors, the
price that would reasonably equate supply and demand in a competitive and
freely functioning market and whether the price at which the crude oil,
gasoline, or petroleum distillate was sold reasonably reflects additional
costs, not within the control fo the seller, that were paid or incurred by the
seller.</text>
</paragraph></subsection><subsection id="id90BFAAADB0734E7189A9178B42E3DCD7"><enum>(b)</enum><header>Prohibition
against geographic price-setting and territorial restrictions</header>
<paragraph id="id1ACECB0369494C5F8BE3E35EFC1A32CD"><enum>(1)</enum><header>In
general</header><text>Except as provided in paragraph (2), it is unlawful for
any person to—</text>
<subparagraph id="idD08150D804DA4882A69B864B878FC5B2"><enum>(A)</enum><text>set different
prices for gasoline or petroleum distillates for different geographic
locations; or</text>
</subparagraph><subparagraph id="id4B7D705AF69E46FF92AF9FCF26387690"><enum>(B)</enum><text>implement a
territorial restriction with respect to gasoline or petroleum
distillates.</text>
</subparagraph></paragraph><paragraph id="id019EF89304F74D8FADF25F342C436974"><enum>(2)</enum><header>Exceptions</header><text>A
person may set different prices for gasoline or petroleum distillates for
different geographic locations or implement territorial restrictions with
respect to gasoline or petroleum distillates only if the price differences or
restrictions are sufficiently justified by—</text>
<subparagraph id="id940F420BBD5E4A1B9FF79109F4BAA773"><enum>(A)</enum><text>differences in
the cost of retail space where the gasoline or petroleum distillate is
sold;</text>
</subparagraph><subparagraph id="idBFDE3EFD944342E5A329F9937034F91B"><enum>(B)</enum><text>differences in
the cost of transportation of gasoline or petroleum distillates from the
refinery to the retail location;</text>
</subparagraph><subparagraph id="id01DCB478BCB046BAB6A07D2A5FBFC006"><enum>(C)</enum><text>differences in
the cost of storage of gasoline or petroleum distillates at the retail
location; or</text>
</subparagraph><subparagraph id="id8AB1BA0B91DC4987AB8449826046250A"><enum>(D)</enum><text>differences in
the formulation of the gasoline or petroleum distillates sold.</text>
</subparagraph></paragraph></subsection><subsection id="idEF72790497DC44D6A83A8F42C913DB7A"><enum>(c)</enum><header>False pricing
information</header><text display-inline="yes-display-inline">It is unlawful
for any person to report information related to the wholesale price of crude
oil, gasoline, or petroleum distillates to the Federal Trade Commission
if—</text>
<paragraph id="id60A6BEA7DCEC4B8EAC894F16EBD25D6C"><enum>(1)</enum><text display-inline="yes-display-inline">that person knew, or reasonably should have
known, the information to be false or misleading;</text>
</paragraph><paragraph id="idB43EA68C6C6848EC82191C31FA21E255"><enum>(2)</enum><text>the information
was required by law to be reported; and</text>
</paragraph><paragraph id="idEB226353F262440EA5EDA04AA2D18967"><enum>(3)</enum><text>the person
intended the false or misleading data to affect data compiled by that
department or agency for statistical or analytical purpose with respect to the
market for crude oil, gasoline, or petroleum distillates.</text>
</paragraph></subsection></section><section id="id46FD301047004D869D8F0D814F45BDE2"><enum>302.</enum><header>Enforcement
under Federal Trade Commission Act</header>
<subsection id="id043DDFECD4194058A0C2120C39EA7825"><enum>(a)</enum><header>Enforcement by
Commission</header><text>This title shall be enforced by the Federal Trade
Commission. In enforcing section 301(a) of this title, the Commission shall
give priority to enforcement actions concerning companies with total United
States wholesale or retail sales of crude oil, gasoline, and petroleum
distillates in excess of $500,000,000 per year but shall not exclude
enforcement actions against companies with total United States wholesale sales
of $500,000,000 or less per year.</text>
</subsection><subsection id="id2543FE757676409B8306850E9831CA16"><enum>(b)</enum><header>Violation is
unfair or deceptive act or practice</header><text>The violation of any
provision of this title shall be treated as an unfair or deceptive act or
practice proscribed under a rule issued under section 18(a)(1)(B) of the
Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)).</text>
</subsection></section><section id="id48B1536C4C0F453EBA5A573CA056FC27"><enum>303.</enum><header>Enforcement by
state attorneys general</header>
<subsection id="id673FF795E7F5447AAB50D887E0D823CF"><enum>(a)</enum><header>In
general</header><text>A State, as parens patriae, may bring a civil action on
behalf of its residents in an appropriate district court of the United States
to enforce the provisions of section 301(a), or to impose the civil penalties
authorized by section 304 for violations of section 301(a), whenever the
attorney general of the State has reason to believe that the interests of the
residents of the State have been or are being threatened by such
violation.</text>
</subsection><subsection id="idC6553E0893AF49C3AB72C91C62F8B50B"><enum>(b)</enum><header>Notice</header><text>The
State shall serve written notice to the Commission of any civil action under
subsection (a) prior to initiating such civil action. The notice shall include
a copy of the complaint to be filed to initiate such civil action, except that
if it is not feasible for the State to provide such prior notice, the State
shall provide such notice immediately upon instituting such civil
action.</text>
</subsection><subsection id="id75057D8DA99B4812AC0733A4E18EFD7E"><enum>(c)</enum><header>Authority to
intervene</header><text>Upon receiving the notice required by subsection (b),
the Commission may intervene in such civil action and upon intervening—</text>
<paragraph id="idAB075895506D437A853A77DE0D653C33"><enum>(1)</enum><text>be heard on all
matters arising in such civil action; and</text>
</paragraph><paragraph id="idE95E2D2D52F943C9A29FFC01B35A7492"><enum>(2)</enum><text>file petitions
for appeal of a decision in such civil action.</text>
</paragraph></subsection><subsection id="id084E3CA129CF45CD91616DD5F06DD8A9"><enum>(d)</enum><header>Construction</header><text>For
purposes of bringing any civil action under subsection (a), nothing in this
section shall prevent the attorney general of a State from exercising the
powers conferred on the attorney general by the laws of such State to conduct
investigations or to administer oaths or affirmations or to compel the
attendance of witnesses or the production of documentary and other
evidence.</text>
</subsection><subsection id="id86CE4D4BB685459EBFD2504D105553BB"><enum>(e)</enum><header>Venue; service
of process</header><text>In a civil action brought under subsection (a)—</text>
<paragraph id="id12B18022BE4E42D8AE7046AEDA4F6329"><enum>(1)</enum><text>the venue shall
be a judicial district in which—</text>
<subparagraph id="id6FD4AD06AA084EB19A200B8F6AE2564C"><enum>(A)</enum><text>the defendant
operates;</text>
</subparagraph><subparagraph id="idDF6D98B72D384DC696A8D684578D92E9"><enum>(B)</enum><text>the defendant was
authorized to do business; or</text>
</subparagraph><subparagraph id="id8FD6750801DC493EAC750E4688FD10FF"><enum>(C)</enum><text>where the
defendant in the civil action is found;</text>
</subparagraph></paragraph><paragraph id="id358443C0063E49DD9FF37CFD9157F360"><enum>(2)</enum><text>process may be
served without regard to the territorial limits of the district or of the State
in which the civil action is instituted; and</text>
</paragraph><paragraph id="idC0B88223E67A424BB409A1ECF521475D"><enum>(3)</enum><text>a person who
participated with the defendant in an alleged violation that is being litigated
in the civil action may be joined in the civil action without regard to the
residence of the person.</text>
</paragraph></subsection><subsection id="idDF8D097B6D18423FAF8F44E3EE3FFF91"><enum>(f)</enum><header>Limitation on
State action while Federal action is pending</header><text>If the Commission
has instituted a civil action or an administrative action for violation of this
title, no State attorney general, or official or agency of a State, may bring
an action under this subsection during the pendency of that action against any
defendant named in the complain of the Commission or the other agency for any
violation of this title alleged in the complaint.</text>
</subsection><subsection id="idA04D2ADCE9994C7C97029B16DD360B97"><enum>(g)</enum><header>Enforcement of
State law</header><text>Nothing contained in this section shall prohibit an
authorized State official from proceeding in state court to enforce a civil or
criminal statute of such State.</text>
</subsection></section><section id="idBE37893A556F474494364F9A398F4271"><enum>304.</enum><header>Penalties</header>
<subsection id="id9AC35DC8E8024C098BCE62FEC5D165EE"><enum>(a)</enum><header>Civil
penalty</header><text></text>
<paragraph id="id29A22376A6A1452CA7CC9B513351BE3F"><enum>(1)</enum><header>In
general</header><text>In addition to any penalty applicable under the Federal
Trade Commission Act—</text>
<subparagraph id="idC0659B0827BC44978462FBF49C40A121"><enum>(A)</enum><text>any person who
violates section 301(c) of this title is punishable by a civil penalty of not
more than $1,000,000; and</text>
</subparagraph><subparagraph id="id9ACA4A8F408941208719CE4F2967922B"><enum>(B)</enum><text>any person who
violates section 301(a) or 301(b) of this title is punishable by a civil
penalty of not more than $3,000,000.</text>
</subparagraph></paragraph><paragraph id="id2553D62FBB5744DDB70DD894E0F37DD9"><enum>(2)</enum><header>Method of
assessment</header><text>The penalties provided by paragraph (1) shall be
assessed in the same manner as civil penalties imposed under section 5 of the
Federal Trade Commission Act (15 U.S.C. 45).</text>
</paragraph><paragraph id="id6B69691CC6B540AFB9B59D856CFC6901"><enum>(3)</enum><header>Multiple
offenses; mitigating factors</header><text>In assessing the penalty provided by
subsection (a)—</text>
<subparagraph id="id1B9C3CC5DC50456DA95E171C62B77FF9"><enum>(A)</enum><text>each day of a
continuing violation shall be considered a separate violation; and</text>
</subparagraph><subparagraph id="idB4B1BE49FBCE4B87B2F9762D7A3F61E9"><enum>(B)</enum><text>the Commission
shall take into consideration the seriousness of the violation and the efforts
of the person committing the violation to remedy the harm caused by the
violation in a timely manner.</text>
</subparagraph></paragraph></subsection><subsection id="id722566F8844D4F7CBE779D70B8B365BA"><enum>(b)</enum><header>Criminal
penalty</header><text>Violation of section 301(a) of this title is punishable
by a fine of not more than $1,000,000, imprisonment for not more than 5 years,
or both.</text>
</subsection></section><section id="id2BF92878AB754B3E98894A47511C9780"><enum>305.</enum><header>Effect on
other laws</header>
<subsection id="id609F69626901489A8988ACB59DE26D45"><enum>(a)</enum><header>Other authority
of Commission</header><text>Nothing in this title shall be construed to limit
or affect in any way the Commission's authority to bring enforcement actions or
take any other measure under the Federal Trade Commission Act (15 U.S.C. 41 et
seq.) or any other provision of law.</text>
</subsection><subsection id="id3AB93ED5937448F88CEBBA85C7F3F9BE"><enum>(b)</enum><header>State
law</header><text>Nothing in this title preempts any State law.</text>
</subsection></section><section id="IDBBFDCCC684F347569E544FA6175BCCC5"><enum>306.</enum><header>Market
transparency for crude oil, gasoline, and petroleum distillates</header>
<subsection id="ID5DC0B7F1314D46D98110E2AF4F339517"><enum>(a)</enum><header>In
General</header><text>The Federal Trade Commission shall facilitate price
transparency in markets for the sale of crude oil and essential petroleum
products at wholesale, having due regard for the public interest, the integrity
of those markets, fair competition, and the protection of consumers.</text>
</subsection><subsection id="ID994448B48BB640CFBE9B2C6F90979D03"><enum>(b)</enum><header>Marketplace
Transparency</header>
<paragraph id="ID50DCA96DAC094486BEC92C000708E857"><enum>(1)</enum><header>Dissemination
of information</header><text>In carrying out this section, the Commission shall
provide by rule for the dissemination, on a timely basis, of information about
the availability and prices of wholesale crude oil, gasoline, and petroleum
distillates to the Commission, States, wholesale buyers and sellers, and the
public.</text>
</paragraph><paragraph id="ID25B3899B7E1F490A9BF89835E6EAC4C7"><enum>(2)</enum><header>Protection of
public from anticompetitive activity</header><text>In determining the
information to be made available under this section and time to make the
information available, the Commission shall seek to ensure that consumers and
competitive markets are protected from the adverse effects of potential
collusion or other anticompetitive behaviors that can be facilitated by
untimely public disclosure of transaction-specific information.</text>
</paragraph><paragraph id="ID18BC3F7BAA95471792BB43E5CC255A5A"><enum>(3)</enum><header>Protection of
market mechanisms</header><text>The Commission shall withhold from public
disclosure under this section any information the Commission determines would,
if disclosed, be detrimental to the operation of an effective market or
jeopardize security.</text>
</paragraph></subsection><subsection id="IDA27E8D502BF34832BE37E9B3F0245526"><enum>(c)</enum><header>Information
Sources</header>
<paragraph id="ID731CFDB552344D7E8E5705121434B708"><enum>(1)</enum><header>In
general</header><text>In carrying out subsection (b), the Commission
may—</text>
<subparagraph id="IDFE3E862B9BCF4EAA93D588A4ED6264B9"><enum>(A)</enum><text>obtain
information from any market participant; and</text>
</subparagraph><subparagraph id="ID4B9B371F3A174D46ADC82ED2D40FB2BB"><enum>(B)</enum><text>rely on entities
other than the Commission to receive and make public the information, subject
to the disclosure rules in subsection (b)(3).</text>
</subparagraph></paragraph><paragraph id="IDB0FAF4CECEEC4AB7A5D363ABF89213C1"><enum>(2)</enum><header>Published
data</header><text>In carrying out this section, the Commission shall—</text>
<subparagraph id="id53692570397F4A5191DA46458142E57F"><enum>(A)</enum><text>consider the
degree of price transparency provided by existing price publishers and
providers of trade processing services; and</text>
</subparagraph><subparagraph id="id8E6BA7252CCF4AE4B87A8D40FCA7BE48"><enum>(B)</enum><text>rely on such
publishers and services to the maximum extent practicable.</text>
</subparagraph></paragraph><paragraph id="ID46A5C9233A484585BBE16727DCA30765"><enum>(3)</enum><header>Electronic
information systems</header>
<subparagraph id="idC8F6EA88CE38432AB1420851F6176628"><enum>(A)</enum><header>In
general</header><text>The Commission may establish an electronic information
system if the Commission determines that existing price publications are not
adequately providing price discovery or market transparency.</text>
</subparagraph><subparagraph id="id093A0E11ED944E528DE6346B75436F60"><enum>(B)</enum><header>Electronic
information filing requirements</header><text>Nothing in this section affects
any electronic information filing requirements in effect under this title as of
the date of enactment of this Act.</text>
</subparagraph></paragraph><paragraph id="ID1CB547C67D0D4D8AA498D10EE73D34E6"><enum>(4)</enum><header>De minimus
exception</header><text>The Commission may not require entities who have a de
minimus market presence to comply with the reporting requirements of this
section.</text>
</paragraph></subsection><subsection id="ID15B4A79FBFA04D27B3B339ED97EAA141"><enum>(d)</enum><header>Cooperation
With Other Federal Agencies</header>
<paragraph id="IDDCB1919E5D42443AB7E7D6413D5F0ECC"><enum>(1)</enum><header>Memorandum of
understanding</header><text>Not later 180 days after the date of enactment of
this Act, the Commission shall conclude a memorandum of understanding with the
Commodity Futures Trading Commission and other appropriate agencies (if
applicable) relating to information sharing, which shall include
provisions—</text>
<subparagraph id="ID84480AFAFCE44D999DACE89FAAB4AE3C"><enum>(A)</enum><text>ensuring that
information requests to markets within the respective jurisdiction of each
agency are properly coordinated to minimize duplicative information requests;
and</text>
</subparagraph><subparagraph id="ID14D99EC5705F41A59A59EBDD7E9F682F"><enum>(B)</enum><text>regarding the
treatment of proprietary trading information.</text>
</subparagraph></paragraph><paragraph id="ID4C1553DF63804296A16A956B0FD74477"><enum>(2)</enum><header>CFTC
jurisdiction</header><text>Nothing in this section limits or affects the
exclusive jurisdiction of the Commodity Futures Trading Commission under the
<act-name parsable-cite="COMEX">Commodity Exchange Act</act-name> (7 U.S.C. 1
et seq.).</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDD04CF60B634C4E518AA96948EEE4E308"><enum>(e)</enum><header>Rulemaking</header><text>Not
later than 180 days after the date of enactment of this Act, the Commission
shall initiate a rulemaking proceeding to establish such rules as the
Commission determines to be necessary and appropriate to carry out this
section.</text>
</subsection></section>