110 HR 6341 IH: Energy Markets Anti-Manipulation and Integrity Restoration Act U.S. House of Representatives 2008-06-20 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.

I 110th CONGRESS 2d Session H. R. 6341 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.

1.

Short title

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

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.

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.