[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6341 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6341

To amend the Commodity Exchange Act to provide for regulation of energy 
                  derivatives, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2008

 Mr. Van Hollen (for himself, Ms. DeLauro, Ms. Sutton, Mr. Wexler, Mr. 
 Schiff, Mr. Becerra, Mr. Welch of Vermont, Mr. Higgins, Mr. Delahunt, 
and Mr. Grijalva) introduced the following bill; which was referred to 
                      the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
To amend the Commodity Exchange Act to provide for regulation of energy 
                  derivatives, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Energy Markets Anti-Manipulation and 
Integrity Restoration Act''.

SEC. 2. JURISDICTION OF THE COMMODITY FUTURES TRADING COMMISSION OVER 
              ENERGY DERIVATIVES TRADED ON A DOMESTIC BOARD OF TRADE.

    (a) Removal of Energy Commodities From Definition of Exempt 
Commodity.--Section 1a(14) of the Commodity Exchange Act (7 U.S.C. 
1a(14)) is amended by inserting ``, an energy commodity,'' after 
``excluded commodity''.
    (b) Energy Commodity Defined.--Section 1a of such Act (7 U.S.C. 1a) 
is amended--
            (1) by redesignating paragraphs (13) through (34) as 
        paragraphs (14) through (35), respectively; and
            (2) by inserting after paragraph (12) the following:
            ``(13) Energy commodity.--The term `energy commodity' means 
        coal, crude oil, gasoline, diesel fuel, heating oil, propane, 
        electricity, natural gas, any fuel derived from oil, any 
        transportation fuel, uranium, and any other commodity (other 
        than an excluded commodity or an agricultural commodity) that 
        the Commission determines is used as a source of energy.''.
    (c) Elimination of Exemption for Excluded Swap Transactions 
Involving an Energy Commodity.--Section 2(g) of such Act (7 U.S.C. 
2(g)) is amended by inserting ``or an energy commodity'' after 
``agricultural commodity''.

SEC. 3. JURISDICTION OF THE COMMODITY FUTURES TRADING COMMISSION OVER 
              CERTAIN ENERGY DERIVATIVES TRADED ON OR THROUGH A FOREIGN 
              BOARD OF TRADE WITH A TRADING AFFILIATE OR INFRASTRUCTURE 
              IN THE UNITED STATES.

    (a) In General.--Section 4 of the Commodity Exchange Act (7 U.S.C. 
6) is amended by adding at the end the following:
    ``(f) For purposes of this Act, a board of trade, exchange, or 
market shall not be considered to be foreign or located outside the 
United States if--
            ``(1) the board of trade, exchange, or market has a trading 
        affiliate or trading infrastructure located in the United 
        States; and
            ``(2) a contract of sale of an energy commodity for future 
        delivery in the United States, which is a significant price 
        discovery contract (as determined by the Commission in 
        accordance with section 2(h)(7)(B)) for the energy commodity, 
        is executed or traded on or through the board of trade, 
        exchange, or market.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect 90 days after the date of the enactment of this Act.
                                 <all>