[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 221 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                 S. 221

To amend the Commodity Exchange Act to require energy commodities to be 
       traded only on regulated markets, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 13, 2009

  Mr. Nelson of Florida introduced the following bill; which was read 
  twice and referred to the Committee on Agriculture, Nutrition, and 
                                Forestry

_______________________________________________________________________

                                 A BILL


 
To amend the Commodity Exchange Act to require energy commodities to be 
       traded only on regulated markets, 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. REGULATION OF ENERGY COMMODITIES.

    (a) Definitions.--Section 1a of the Commodity Exchange Act (7 
U.S.C. 1a) is amended--
            (1) by redesignating paragraphs (13) through (34) as 
        paragraphs (14) through (35), respectively;
            (2) by inserting after paragraph (12) the following:
            ``(13) Energy commodity.--The term `energy commodity' 
        includes--
                    ``(A) crude oil;
                    ``(B) natural gas;
                    ``(C) heating oil;
                    ``(D) gasoline;
                    ``(E) metals;
                    ``(F) construction materials;
                    ``(G) propane; and
                    ``(H) other fuel oils.''; and
            (3) by striking paragraph (15) (as redesignated by 
        paragraph (1)) and inserting the following:
            ``(15) Exempt commodity.--The term `exempt commodity' means 
        a commodity that is not--
                    ``(A) an agricultural commodity;
                    ``(B) an energy commodity; or
                    ``(C) an excluded commodity.''.
    (b) Current Agricultural Commodities.--Section 5(e)(1) of the 
Commodity Exchange Act (7 U.S.C. 7(e)(1)) is amended by striking 
``agricultural commodity enumerated in section 1a(4)'' and inserting 
``agricultural commodity or an energy commodity''.
    (c) Conforming Amendments.--
            (1) Section 2(c)(2)(B)(i)(II)(cc) of the Commodity Exchange 
        Act (7 U.S.C. 2(c)(2)(B)(i)(II)(cc)) is amended--
                    (A) in subitem (AA), by striking ``section 1a(20)'' 
                and inserting ``section 1a(21)''; and
                    (B) in subitem (BB), by striking ``section 1a(20)'' 
                and inserting ``section 1a(21)''.
            (2) Section 13106(b)(1) of the Food, Conservation, and 
        Energy Act of 2008 is amended by striking ``section 1a(32)'' 
        and inserting ``section 1a''.
            (3) Section 402 of the Legal Certainty for Bank Products 
        Act of 2000 (7 U.S.C. 27) is amended--
                    (A) in subsection (a)(7), by striking ``section 
                1a(20)'' and inserting ``section 1a''; and
                    (B) in subsection (d)--
                            (i) in paragraph (1)(B), by striking 
                        ``section 1a(33)'' and inserting ``section 
                        1a''; and
                            (ii) in paragraph (2)(D), by striking 
                        ``section 1a(13)'' and inserting ``section 
                        1a''.
                                 <all>