S.Amdt. 3779
What it does: Inserts new text on page 253, between lines 19 and 20
Sen. Barbara Boxer (D-CA)What it changes
1 change to H.R. 4939
Inserts new text on page 253, between lines 19 and 20
InsertsPrinted pageInserted: INVESTIGATION OF GASOLINE PRICES
Inserted: Sec. 7032. (a) In General.--If, based on weekly data published by the Energy Information Administration of the Department of Energy, the average price of regular grade gasoline in a State increases 20 percent or more for at least 7 days during any 3-month period, the Federal Trade Commission shall initiate an investigation into the retail price of gasoline in that State to determine if the price of gasoline is being artificially manipulated by reducing refinery capacity or by any other form of manipulation.
Inserted: (b) Report.--Not later than 14 days after the initiation of the investigation described in subsection (a), the Federal Trade Commission shall report to Congress the results of the investigation.
Inserted: (c) Public Meeting.--Not later than 14 days after issuing the report described in subsection (b), the Federal Trade Commission shall hold a public hearing in the State in which the retail price of gasoline was investigated as described in subsection (a) for the purpose of presenting the results of the investigation.
Inserted: (d) Action on Price Increase.--
Inserted: (1) Finding of market manipulation.--If the Federal Trade Commission determines that the increase in gasoline prices in a State is a result of market manipulation, the Federal Trade Commission shall, in cooperation with the Attorney General of that State, take appropriate action.
Inserted: (2) No finding of market manipulation.--If the Federal Trade Commission determines that the increase in gasoline prices in a State is not the result of market manipulation, the Federal Trade Commission shall notify the Secretary of Energy, who shall, within 2 weeks of such notification, decide if the Strategic Petroleum Reserve should be used to assure adequate supplies of gasoline.
Inserted: (e) Termination.--This section shall cease to apply on the date that is 5 years after the date of enactment of this Act.
Original wording
On page 253, between lines 19 and 20, insert the following:
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As printed
SA 3779. Mrs. BOXER submitted an amendment intended to be proposed by her to the bill H.R. 4939, making emergency supplemental appropriations for the fiscal year ending September 30, 2006, and for other purposes; which was ordered to lie on the table; as follows:
On page 253, between lines 19 and 20, insert the following:
INVESTIGATION OF GASOLINE PRICES
Sec. 7032. (a) In General.--If, based on weekly data published by the Energy Information Administration of the Department of Energy, the average price of regular grade gasoline in a State increases 20 percent or more for at least 7 days during any 3-month period, the Federal Trade Commission shall initiate an investigation into the retail price of gasoline in that State to determine if the price of gasoline is being artificially manipulated by reducing refinery capacity or by any other form of manipulation.
(b) Report.--Not later than 14 days after the initiation of the investigation described in subsection (a), the Federal Trade Commission shall report to Congress the results of the investigation.
(c) Public Meeting.--Not later than 14 days after issuing the report described in subsection (b), the Federal Trade Commission shall hold a public hearing in the State in which the retail price of gasoline was investigated as described in subsection (a) for the purpose of presenting the results of the investigation.
(d) Action on Price Increase.--
(1) Finding of market manipulation.--If the Federal Trade Commission determines that the increase in gasoline prices in a State is a result of market manipulation, the Federal Trade Commission shall, in cooperation with the Attorney General of that State, take appropriate action.
(2) No finding of market manipulation.--If the Federal Trade Commission determines that the increase in gasoline prices in a State is not the result of market manipulation, the Federal Trade Commission shall notify the Secretary of Energy, who shall, within 2 weeks of such notification, decide if the Strategic Petroleum Reserve should be used to assure adequate supplies of gasoline.
(e) Termination.--This section shall cease to apply on the date that is 5 years after the date of enactment of this Act.
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Senate amendment submitted
May 1, 2006