To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders.
Latest action · May 16, 2012 Placed on the Union Calendar, Calendar No. 337.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 11, 2011
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Amends the Commodity Exchange Act to revise the requirement that the Commodity Futures Trading Commission (CFTC), before promulgating a regulation or issuing an order, consider the costs and benefits of the action. Requires the CFTC, through the Office of the Chief Economist, to: (1) assess the costs and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the costs.
Lists additional mandatory considerations for the CFTC to evaluate in making a reasoned determination of the costs and the benefits, including the impact on market liquidity in the futures and swaps markets, as well as alternatives to direct regulation.
Cosponsors 10
Members who signed on, in the order they did. Signatures ran from May 11, 2011 to Nov 30, 2011; 4 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IA | Leonard L. Boswell | Original | May 11, 2011 |
| D-IL | Mike Quigley | Original | May 11, 2011 |
| R-NC | Patrick T. McHenry | Original | May 11, 2011 |
| R-TX | Randy Neugebauer | Original | May 11, 2011 |
| R-NJ | Scott Garrett | Jul 8, 2011 | |
| R-OH | Steve Stivers | Jul 8, 2011 | |
| D-NY | William L. Owens | Jul 8, 2011 | |
| R-GA | Jack Kingston | Jul 19, 2011 | |
| R-WI | Reid J. Ribble | Oct 5, 2011 | |
| R-NY | Christopher P. Gibson | Nov 30, 2011 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Agriculture Committee | Referred May 11, 2011Markup Jan 25, 2012Reported May 16, 2012 |
| General Farm Commodities, Risk Management, and Credit Subcommittee | Referred Jun 8, 2011Discharged Jan 25, 2012 |
Actions 8
Everything that happened, newest first.
- May 16, 2012Reported by the Committee on Agriculture. H. Rept. 112-482.
- May 16, 2012Placed on the Union Calendar, Calendar No. 337.
- Jan 25, 2012Committee Consideration and Mark-up Session Held.
- Jan 25, 2012Subcommittee on General Farm Commodities and Risk Management Discharged.
- Jan 25, 2012Ordered to be Reported by Voice Vote.
- Jun 8, 2011Referred to the Subcommittee on General Farm Commodities and Risk Management.
- May 11, 2011Introduced in House
- May 11, 2011Referred to the House Committee on Agriculture.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Apr 9, 2012H.R. 1840, a bill to improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and ordersAs ordered reported by the House Committee on Agriculture on January 25, 2012
Constitutional authority
The sponsor’s statement, as printed in the page H3219.
Printed hearings 3
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 112-33 | HEARING TO REVIEW H.R. 3283, H.R. 1838, AND H.R. 423566 pages | Agriculture Committee | Mar 28, 2012 |
| Serial No. 112-29 | THE COMMODITY FUTURES TRADING COMMISSION 2012 AGENDA87 pages | Agriculture Committee | Feb 29, 2012 |
| Serial No. 112-25 | HEARING TO REVIEW LEGISLATIVE PROPOSALS AMENDING TITLE VII OF THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT125 pages | Agriculture Committee | Oct 12, 2011 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R42129 | Derivatives Legislation in the 112th Congress Archived | Report | Dec 27, 2011 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 2
Each version as it was printed, newest first.
- May 16, 2012Reported in House
- May 11, 2011Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
