[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4330 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4330

  To amend the Commodity Exchange Act to ensure that the treatment of 
 illiquid swaps does not disadvantage certain non-financial end users 
                 who use them to manage business risk.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 27, 2014

Mr. Rodney Davis of Illinois (for himself, Mr. Vargas, Mr. Hudson, Mr. 
 Vela, Mr. Neugebauer, and Mr. Gallego) introduced the following bill; 
           which was referred to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
  To amend the Commodity Exchange Act to ensure that the treatment of 
 illiquid swaps does not disadvantage certain non-financial end users 
                 who use them to manage business risk.

    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 Planning Act''.

SEC. 2. TREATMENT OF ILLIQUID SWAPS SO AS TO NOT DISADVANTAGE CERTAIN 
              NON-FINANCIAL END USERS.

    Section 2(a)(13) of the Commodity Exchange Act (7 U.S.C. 2(a)(13)) 
is amended--
            (1) in subparagraph (C), by striking ``The Commission'' and 
        inserting ``Except as provided in subparagraph (D), the 
        Commission''; and
            (2) by redesignating subparagraphs (D) through (G) as 
        subparagraphs (E) through (H), respectively, and inserting 
        after subparagraph (C) the following:
                    ``(D) Requirements for swap transactions in 
                illiquid markets.--Notwithstanding subparagraph (C):
                            ``(i) The Commission shall provide by rule 
                        for the public reporting of swap transactions, 
                        including price and volume data, in illiquid 
                        markets that are not cleared and entered into 
                        by a non-financial entity that is hedging or 
                        mitigating commercial risk in accordance with 
                        subsection (h)(7)(A).
                            ``(ii) The Commission shall ensure that the 
                        swap transaction information referred to in 
                        clause (i) of this subparagraph is available to 
                        the public no sooner than 30 days after the 
                        swap transaction has been executed or at such 
                        later date as the Commission determines 
                        appropriate to protect the identity of 
                        participants and positions in illiquid markets 
                        and to prevent the elimination or reduction of 
                        market liquidity.
                            ``(iii) In this subparagraph, the term 
                        `illiquid markets' means any market in which 
                        there is relatively little volume and 
                        infrequent trading in swaps.''.
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