S.Amdt. 2305
What it does: Adds SEC. __. BUSINESS RISK MITIGATION AND PRICE STABILIZATION at the end of the bill
Sen. Mike Crapo (R-ID)What it changes
1 change to S. 3240 · shown in the bill's text
Adds SEC. __. BUSINESS RISK MITIGATION AND PRICE STABILIZATION at the end of the bill
Adds a sectionIn S. 3240 · Placed on Calendar Senate
(2) commence consultation with the Secretary of the Interior to complete the collection and removal of Canada geese from the applicable National Park Service land to ensure that the removal is completed by not later than August 1, 2012.
Inserted: SEC. __. BUSINESS RISK MITIGATION AND PRICE STABILIZATION.
Inserted: (a) Margin Requirements.--
Inserted: (1) Commodity exchange act amendment.--Section 4s(e) of the Commodity Exchange Act (7 U.S.C. 6s(e)), as added by section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
Inserted: "(4) Applicability with respect to counterparties.--The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a swap in which a counterparty qualifies for an exception under section 2(h)(7)(A) or satisfies the criteria in section 2(h)(7)(D).".
Inserted: (2) Securities exchange act amendment.--Section 15F(e) of the Securities Exchange Act of 1934 (15 U.S.C. 78o 10(e)), as added by section 764(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
Inserted: "(4) Applicability with respect to counterparties.--The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a security-based swap in which a counterparty qualifies for an exception under section 3C(g)(1) or satisfies the criteria in section 3C(g)(4).".
Inserted: (b) Implementation.--The amendments made by this section to the Commodity Exchange Act shall be implemented--
Inserted: (1) without regard to--
Inserted: (A) chapter 35 of title 44, United States Code; and
Inserted: (B) the notice and comment provisions of section 553 of title 5, United States Code; (2) through the promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued; and
Inserted: (3) such that paragraph (1) shall apply solely to changes to rules and regulations, or proposed rules and regulations, that are limited to and directly a consequence of such amendments.
Original wording
At the end, add the following:
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As printed
SA 2305. Mr. CRAPO (for himself and Mr. Johanns) submitted an amendment intended to be proposed by him to the bill S. 3240, to reauthorize agricultural programs through 2017, and for other purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
SEC. __. BUSINESS RISK MITIGATION AND PRICE STABILIZATION.
(a) Margin Requirements.--
(1) Commodity exchange act amendment.--Section 4s(e) of the Commodity Exchange Act (7 U.S.C. 6s(e)), as added by section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
“(4) Applicability with respect to counterparties.--The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a swap in which a counterparty qualifies for an exception under section 2(h)(7)(A) or satisfies the criteria in section 2(h)(7)(D).”.
(2) Securities exchange act amendment.--Section 15F(e) of the Securities Exchange Act of 1934 (15 U.S.C. 78o 10(e)), as added by section 764(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
“(4) Applicability with respect to counterparties.--The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a security-based swap in which a counterparty qualifies for an exception under section 3C(g)(1) or satisfies the criteria in section 3C(g)(4).”.
(b) Implementation.--The amendments made by this section to the Commodity Exchange Act shall be implemented--
(1) without regard to--
(A) chapter 35 of title 44, United States Code; and
(B) the notice and comment provisions of section 553 of title 5, United States Code; (2) through the promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued; and
(3) such that paragraph (1) shall apply solely to changes to rules and regulations, or proposed rules and regulations, that are limited to and directly a consequence of such amendments.
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Senate amendment submitted
June 11, 2012