S.Amdt. 1961
What it does: Adds TITLE III--MISCELLANEOUS on page 22, between lines 3 and 4
Sen. Mark L. Pryor (D-AR)What it changes
1 change to S. 2204
Adds TITLE III--MISCELLANEOUS on page 22, between lines 3 and 4
Adds a titlePrinted pageInserted: TITLE III--MISCELLANEOUS
Inserted: SEC. 301. POSITION LIMITS FOR PETROLEUM AND RELATED PRODUCTS.
Inserted: Section 4a(a)(6) of the Commodity Exchange Act (7 U.S.C. 6a(a)(6)) is amended--
Inserted: (1) by redesignating subparagraphs (A) through (C) as clauses (i) through (iii), respectively, and indenting appropriately;
Inserted: (2) by striking "The Commission shall" and inserting the following:
Inserted: "(A) In general.--The Commission shall"; and
Inserted: (3) by adding at the end the following:
Inserted: "(B) Petroleum and related products.--The Commission shall, by regulation, establish limits on the aggregate number or amount of positions in contracts for petroleum or related products that may be held by any person, including any group or class of traders, for each month across contracts described in clauses (i) through (iii) of subparagraph (A), so that--
Inserted: "(i) the short position for traditional bona fide hedgers in the aggregate is not less than 50 percent; and
Inserted: "(ii) the long position for traditional bona fide hedgers in the aggregate is not less than 50 percent.".
Original wording
On page 22, between lines 3 and 4, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1961. Mr. PRYOR submitted an amendment intended to be proposed by him to the bill S. 2204, to eliminate unnecessary tax subsidies and promote renewable energy and energy conservation; which was ordered to lie on the table; as follows:
On page 22, between lines 3 and 4, insert the following:
TITLE III--MISCELLANEOUS
SEC. 301. POSITION LIMITS FOR PETROLEUM AND RELATED PRODUCTS.
Section 4a(a)(6) of the Commodity Exchange Act (7 U.S.C. 6a(a)(6)) is amended--
(1) by redesignating subparagraphs (A) through (C) as clauses (i) through (iii), respectively, and indenting appropriately;
(2) by striking “The Commission shall” and inserting the following:
“(A) In general.--The Commission shall”; and
(3) by adding at the end the following:
“(B) Petroleum and related products.--The Commission shall, by regulation, establish limits on the aggregate number or amount of positions in contracts for petroleum or related products that may be held by any person, including any group or class of traders, for each month across contracts described in clauses (i) through (iii) of subparagraph (A), so that--
“(i) the short position for traditional bona fide hedgers in the aggregate is not less than 50 percent; and
“(ii) the long position for traditional bona fide hedgers in the aggregate is not less than 50 percent.”.
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Senate amendment submitted
March 27, 2012