Commodity End-User Relief Act
Latest action · Jan 17, 2017 Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
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.
- IntroducedJan 4, 2017
- Passed HouseJan 12, 2017
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Commodity End User Relief Act
This bill reauthorizes through FY2021, and otherwise revises provisions related to, operations of the Commodity Futures Trading Commission (CFTC).
The CFTC is authorized to require that certain property of the bankruptcy estate of a commodity broker who is a debtor in Chapter 7 bankruptcy (also known as "liquidation" bankruptcy) be included in customer property to the extent that such property is insufficient to satisfy the net equity claims of the broker's public customers.
Before promulgating a regulation or issuing an order, the CFTC must publish an assessment of the costs and benefits of the action.
The heads of the CFTC's administrative units shall serve at the pleasure of the CFTC.
The bill establishes, within the CFTC, the Office of the Chief Economist.
The bill eliminates the CFTC's authority to lease space.
The bill modifies provisions related to the CFTC's Customer Protection Fund.
The duration of an omnibus order of investigation (authorizing the CFTC to issue subpoenas to multiple persons in relation to a particular subject matter area) shall not be indefinite.
The bill exempts specified entities from certain clearing requirements applicable to swaps.
With respect to swap dealer registration requirements, the bill: (1) prohibits the CFTC from modifying, except by affirmative rule or regulation, the threshold for de minimus (minor in quantity) swap dealing; (2) under certain circumstances, allows the use of specified financial models with respect to calculating capital requirements; and (3) modifies other provisions.
The bill exempts certain swap activities involving non-U.S. persons from U.S. swaps requirements.
In addition, the bill amends the Commodity Exchange Act to direct registered futures associations to require their futures commission merchant members to meet certain procedural and reporting requirements.
Recorded votes 3
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 54 | On Passage | Passed239–182 | Jan 12, 2017 |
| House 53 | On Motion to Recommit with Instructions | Failed190–235 | Jan 12, 2017 |
| House 52 | On Agreeing to the Amendment | Agreed to236–191 | Jan 12, 2017 |
Cosponsors 3
Members who signed on, in the order they did. All signed on Jan 4, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Austin Scott | Original | Jan 4, 2017 |
| D-GA | David Scott | Original | Jan 4, 2017 |
| R-TX | Pete Sessions | Original | Jan 4, 2017 |
Committees 3
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Agriculture Committee | Referred Jan 4, 2017 |
| House | Financial Services Committee | Referred Jan 4, 2017 |
| Senate | Agriculture, Nutrition, and Forestry Committee | Referred Jan 17, 2017 |
Actions 34
Everything that happened, newest first.
- Jan 17, 2017Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- Jan 12, 2017Considered under the provisions of rule H. Res. 40. (consideration: CR H404-428)
- Jan 12, 2017Rule provides for consideration of H.R. 78 and H.R. 238. The resolution provides for one hour of general debate on both H.R. 78 and H.R. 238. The resolution provides for suspension authority at any time on the legislative day of January 13, 2017. The resolution also provides for legislative proceedings during the period of January 16, 2017 through January 20, 2017.
- Jan 12, 2017House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 40 and Rule XVIII.
- Jan 12, 2017The Speaker designated the Honorable John J. Duncan, Jr. to act as Chairman of the Committee.
- Jan 12, 2017GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 238.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Aderholt Part B amendment No. 1.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Austin Scott (GA) Part B amendment No. 2.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Conaway Part B amendment No. 3.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Conaway Part B amendment No. 4.
- Jan 12, 2017POSTSPONED PROCEEDINGS - At the conclusion of debate on the Conaway amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the ayes had prevailed. Mr. Courtney demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Duffy Part B amendment No. 5.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the LaMalfa Part B amendment No. 6.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Lucas Part B amendment No. 7.
- Jan 12, 2017DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Hartzler Part B amendment No. 8.
- Jan 12, 2017Mr. Conaway moved that the committee rise.
- Jan 12, 2017On motion that the committee rise Agreed to by voice vote.
- Jan 12, 2017Committee of the Whole House on the state of the Union rises leaving H.R. 238 as unfinished business.
- Jan 12, 2017Considered as unfinished business. (consideration: CR H450-451)
- Jan 12, 2017The House resolved into Committee of the Whole House on the state of the Union for further consideration.
- Jan 12, 2017UNFINISHED BUSINESS - The Chair announced that the unfinished business was on adoption of amendments which were debated earlier an on which further proceedings had been postponed.
- Jan 12, 2017The House rose from the Committee of the Whole House on the state of the Union to report H.R. 238.
- Jan 12, 2017The previous question was ordered pursuant to the rule.
- Jan 12, 2017The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text of amendment in the nature of a substitute: CR H414-421)
- Jan 12, 2017Mr. Langevin moved to recommit with instructions to the Committee on Agriculture. (text: CR H449)
- Jan 12, 2017DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to insert language prohibiting the Commission from considering the swaps regulatory requirements of a foreign jurisdiction if that jurisdiction has been found by the Commission, in consultation with the Director of National Intelligence, to have engaged in cyber-attacks targeting any election held in the United States.
- Jan 12, 2017The previous question on the motion to recommit with instructions was ordered without objection.
- Jan 12, 2017On motion to recommit with instructions Failed by recorded vote: 190 - 235 (Roll no. 53).
- Jan 12, 2017Passed/agreed to in House: On passage Passed by the Yeas and Nays: 239 - 182 (Roll no. 54).
- Jan 12, 2017Motion to reconsider laid on the table Agreed to without objection.
- Jan 11, 2017Rule H. Res. 40 passed House.
- Jan 10, 2017Rules Committee Resolution H. Res. 40 Reported to House. Rule provides for consideration of H.R. 78 and H.R. 238. The resolution provides for one hour of general debate on both H.R. 78 and H.R. 238. The resolution provides for suspension authority at any time on the legislative day of January 13, 2017. The resolution also provides for legislative proceedings during the period of January 16, 2017 through January 20, 2017.
- Jan 4, 2017Introduced in House
- Jan 4, 2017Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
In the Congressional Record 4
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H404–H428, H449Amendments H414, H421, H422, H423, H424, H425, H426, H427Motions H449Recorded votes H448, H450Conaway amendment (allow CFTC imposition and implementation of position limits as necessary under certain conditions)Langevin motion to recommit (prevent foreign jurisdiction’s swap laws from automatically being considered comparable if found to have engaged in cyber attacks targeting U.S. elections)Lists H406Organizations supporting H.R. 238, Commodity End-User Relief Act | Austin Scott R-GA (amendment), Bob Goodlatte R-VA, Collin C. Peterson D-MN, Doug LaMalfa R-CA (amendment), Eric A. "Rick" Crawford R-AR, Frank D. Lucas R-OK (amendment), James P. McGovern D-MA, James R. Langevin D-RI (motion), Joe Courtney D-CT, K. Michael Conaway R-TX (amendment), Maxine Waters D-CA, Robert B. Aderholt R-AL (amendment), Rodney Davis R-IL, Sean P. Duffy R-WI (amendment), Stacey E. Plaskett D-VI, Ted S. Yoho R-FL, Tom O'Halleran D-AZ, Vicky Hartzler R-MO (amendment) | Jan 12, 2017 |
| House | Debate and remarks H316–H322Text printed H316Amendments H321Recorded votes H321, H322consideration (H. Res. 40), previous question | Dan Newhouse R-WA, Jared Polis D-CO (amendment), K. Michael Conaway R-TX, Katherine M. Clark D-MA | Jan 11, 2017 |
| House | Declaratory Statements H237 | — | Jan 9, 2017 |
| House | Declaratory Statements H99Lists H96–H98H.R. 238–293 | — | Jan 4, 2017 |
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.
Constitutional authority
The sponsor’s statement, as printed in the page H96.
Printed hearings 2
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. 115-12 | EXAMINING THE 2017 AGENDA FOR THE COMMODITY FUTURES TRADING COMMISSION52 pages | Agriculture Committee | Oct 11, 2017 |
| S. Hrg. 115-110 | A GROWTH AGENDA: REDUCING UNNECESSARY REGULATORY BURDENS205 pages | Commerce, Science, and Transportation Committee | Feb 1, 2017 |
CRS reports 4
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 4
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF10117 | Introduction to Financial Services: Derivatives | Resource | Apr 1, 2025 |
| R45230 | Agriculture and Related Agencies: FY2019 Appropriations Archived | Report | May 8, 2019 |
| R44733 | Commodity Futures Trading Commission: Proposed Reauthorization in the 115th Congress Archived | Report | Sep 29, 2017 |
| R44813 | Cost-Benefit Analysis and Financial Regulator Rulemaking Archived | Report | May 11, 2017 |
Amendments 8
Amendments offered to this bill.
Related bills 2
Companion bills and other measures the record links to this one.
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end-users with market certainty, to make basic reforms to ensure transparency and accountability at the Commission, to help farmers, ranchers, and end-users manage risks, to help keep consumer costs low, and for other purposes.
- Short Titles as Introduced
- Commodity End-User Relief Act
- Short Titles as Passed House
- Commodity End-User Relief Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative law and regulatory procedures
- Administrative remedies
- Banking and financial institutions regulation
- Bankruptcy
- Business records
- Commodities markets
- Commodity Futures Trading Commission
- Computers and information technology
- Congressional oversight
- Electric power generation and transmission
- Executive agency funding and structure
- Finance and Financial Sector
- Financial services and investments
- Government employee pay, benefits, personnel management
- Government studies and investigations
- Judicial review and appeals
- Minority employment
- Oil and gas
- Public utilities and utility rates
- Securities
- Women's employment
Text 3
Each version as it was printed, newest first.
- Jan 17, 2017Referred in Senate
- Jan 12, 2017Engrossed in House
- Jan 4, 2017Introduced 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.
