[Congressional Record Volume 168, Number 124 (Tuesday, July 26, 2022)]
[Senate]
[Page S3696]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. THUNE (for himself, Mr. Barrasso, Mr. Braun, Mr. Crapo, 
        Mr. Daines, Ms. Ernst, Mrs. Fischer, Mr. Hagerty, Mr. Hoeven, 
        Ms. Lummis, Mr. Risch, and Mr. Rounds):
  S. 4610. A bill to provide reliable and evidence-based food and 
energy security; to the Committee on Banking, Housing, and Urban 
Affairs.
  Mr. THUNE. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 4610

       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 ``Food and Energy Security 
     Act''.

     SEC. 2. DEFINITIONS.

       In this Act:
       (1) Agriculture or closely related business.--The term 
     ``agriculture or closely related business'' means a for-
     profit or not-for-profit entity that is involved in the 
     production of agriculture products or livestock or involved 
     in the supply chain of an entity involved in the production 
     of agriculture products or livestock.
       (2) Energy or closely related business.--The term ``energy 
     or closely related business'' means a for-profit or not-for-
     profit entity that is involved in the production, 
     development, or marketing of electricity, fuel (including 
     biofuels), or other related products or involved in the 
     supply chain of an entity involved in the production, 
     development, or marketing of electricity, fuel (including 
     biofuels), or other related products.
       (3) Federal regulator.--The term ``Federal regulator'' 
     means--
       (A) the Board of Governors of the Federal Reserve System;
       (B) the Office of the Comptroller of the Currency;
       (C) the Federal Deposit Insurance Corporation;
       (D) the Financial Stability Oversight Council;
       (E) the National Credit Union Administration;
       (F) the Bureau of Consumer Financial Protection;
       (G) the Commodity Futures Trading Commission; and
       (H) the Securities and Exchange Commission.

     SEC. 3. REGULATIONS AND GUIDANCE.

       (a) In General.--As part of any public notice of a proposed 
     regulation or guidance and final regulation or guidance that 
     could affect the extension of capital to or investments in an 
     agriculture or closely related business or an energy or 
     closely related business, a Federal regulator shall provide a 
     detailed analysis of the estimated impact the regulation or 
     guidance would have on food prices, electricity prices, and 
     fuel prices, as applicable, including a description of the 
     methodology and variables used to arrive at the estimates.
       (b) Contents.--The estimated impacts required under 
     subsection (a) shall include how the proposed regulation or 
     guidance or final regulation or guidance of the Federal 
     regulator would, as applicable, affect--
       (1) food prices (broken down by subcategories as listed in 
     the Consumer Price Index for All Urban Consumers by the 
     Bureau of Labor Statistics, as relevant) over 1 year, 3 
     years, 5 years, and 10 years;
       (2) electricity prices (broken down by subcategories as 
     listed in the Consumer Price Index for All Urban Consumers by 
     the Bureau of Labor Statistics, as relevant) over 1 year, 3 
     years, 5 years, and 10 years; and
       (3) fuel prices (broken down by subcategories as listed in 
     the Consumer Price Index for All Urban Consumers by the 
     Bureau of Labor Statistics, as relevant) over 1 year, 3 
     years, 5 years, and 10 years.

     SEC. 4. PROHIBITION.

       A Federal regulator shall not implement any regulation or 
     guidance that could affect, directly or indirectly, the 
     extension of capital to or investments in an agriculture or 
     closely related business or an energy or closely related 
     business if--
       (1) the analysis of estimated impacts under section 3 
     estimate that implementation of the regulation or guidance 
     would result in an increase in food prices, electricity 
     prices, or fuel prices; and
       (2) the annualized rate of increase in the Consumer Price 
     Index for All Urban Consumers most recently published by the 
     Bureau of Labor Statistics is 4.5 percent or greater.

     SEC. 5. RULE OF CONSTRUCTION.

       Nothing in this Act may be construed as affecting any 
     regulation or guidance of a Federal regulator that was 
     implemented before January 1, 2022.
                                 ______