S.Amdt. 86
What it does: Adds SEC. __. MANIPULATIVE CONDUCT BARRING RIGHT TO TERMINATION PAYMENTS wherever appropriate
Sen. Maria Cantwell (D-WA)What it changes
1 change to S. 256
Adds SEC. __. MANIPULATIVE CONDUCT BARRING RIGHT TO TERMINATION PAYMENTS wherever appropriate
Adds a sectionInserted: SEC. __. MANIPULATIVE CONDUCT BARRING RIGHT TO TERMINATION PAYMENTS.
Inserted: (a) In General.--Title 11 of the United States Code is amended by adding after section 562, as added by this Act, the following:
Inserted: "SEC. 563. MANIPULATIVE CONDUCT BARRING RIGHT TO TERMINATION PAYMENTS.
Inserted: " Notwithstanding any other provision of this title, a trustee may not collect any termination payment, fee, or charge under a terminated contract for the sale of electricity if a governmental agency having jurisdiction over the debtor's wholesale sales of electricity in the interstate market has--
Inserted: "(1) made a finding that the debtor engaged in manipulation of the electricity market; and
Inserted: "(2) revoked the debtor's authority to make any market based sales of electricity.".
Inserted: (b) Effective Date.--The amendment made by this section shall take effect on the date of enactment of this Act and shall be applicable to any termination payment, fee, or charge that has not yet been determined pursuant to a final, non-appealable order to be owed to the debtor.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 86. Ms. CANTWELL (for herself, Mr. Ensign, and Mrs. Murray) submitted an amendment intended to be proposed by her to the bill S. 256, to amend title 11 of the United States Code, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. MANIPULATIVE CONDUCT BARRING RIGHT TO TERMINATION PAYMENTS.
(a) In General.--Title 11 of the United States Code is amended by adding after section 562, as added by this Act, the following:
“SEC. 563. MANIPULATIVE CONDUCT BARRING RIGHT TO TERMINATION PAYMENTS.
“ Notwithstanding any other provision of this title, a trustee may not collect any termination payment, fee, or charge under a terminated contract for the sale of electricity if a governmental agency having jurisdiction over the debtor's wholesale sales of electricity in the interstate market has--
“(1) made a finding that the debtor engaged in manipulation of the electricity market; and
“(2) revoked the debtor's authority to make any market based sales of electricity.”.
(b) Effective Date.--The amendment made by this section shall take effect on the date of enactment of this Act and shall be applicable to any termination payment, fee, or charge that has not yet been determined pursuant to a final, non-appealable order to be owed to the debtor.
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Senate amendment submitted
March 7, 2005