[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2682 Placed on Calendar Senate (PCS)]

                                                       Calendar No. 342
112th CONGRESS
  2d Session
                                H. R. 2682


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 27, 2012

                     Received; read the first time

                             March 28, 2012

            Read the second time and placed on the calendar

_______________________________________________________________________

                                 AN ACT


 
To provide end user exemptions from certain provisions of the Commodity 
  Exchange Act and the Securities Exchange Act of 1934, 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 ``Business Risk Mitigation and Price 
Stabilization Act of 2012''.

SEC. 2. MARGIN REQUIREMENTS.

    (a) Commodity Exchange Act Amendment.--Section 4s(e) of the 
Commodity Exchange Act (7 U.S.C. 6s(e)), as added by section 731 of the 
Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended 
by adding at the end the following new paragraph:
            ``(4) Applicability with respect to counterparties.--The 
        requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not 
        apply to a swap in which a counterparty qualifies for an 
        exception under section 2(h)(7)(A) or satisfies the criteria in 
        section 2(h)(7)(D).''.
    (b) Securities Exchange Act Amendment.--Section 15F(e) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78o-10(e)), as added by 
section 764(a) of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act, is amended by adding at the end the following new 
paragraph:
            ``(4) Applicability with respect to counterparties.--The 
        requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not 
        apply to a security-based swap in which a counterparty 
        qualifies for an exception under section 3C(g)(1) or satisfies 
        the criteria in section 3C(g)(4).''.

SEC. 3. IMPLEMENTATION.

    The amendments made by this Act to the Commodity Exchange Act shall 
be implemented--
            (1) without regard to--
                    (A) chapter 35 of title 44, United States Code; and
                    (B) the notice and comment provisions of section 
                553 of title 5, United States Code;
            (2) through the promulgation of an interim final rule, 
        pursuant to which public comment will be sought before a final 
        rule is issued; and
            (3) such that paragraph (1) shall apply solely to changes 
        to rules and regulations, or proposed rules and regulations, 
        that are limited to and directly a consequence of such 
        amendments.

            Passed the House of Representatives March 26, 2012.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.
                                                       Calendar No. 342

112th CONGRESS

  2d Session

                               H. R. 2682

_______________________________________________________________________

                                 AN ACT

To provide end user exemptions from certain provisions of the Commodity 
  Exchange Act and the Securities Exchange Act of 1934, and for other 
                               purposes.

_______________________________________________________________________

                             March 28, 2012

            Read the second time and placed on the calendar