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Bill113th CongressFiled Mar 11, 2013Finance and Financial Sector
H.R. 1038

Public Power Risk Management Act of 2013

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
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Law

What it doesSummary passed house without amendment (Jun 12, 2013)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Public Power Risk Management Act of 2013 - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC), when it determines whether to provide an exemption to designation as a swap dealer, to treat a utility operations-related swap entered into with a utility special entity as if such swap were entered into with an entity that is not a special entity. (Thus exempts an entity entering into a utility operations-related swap with a utility special entity from mandatory registration as a swap dealer.)

Requires transactions in utility operations-related swaps to be reported according to requirements for the reporting of uncleared swaps.

Defines "utility special entity" as a special entity, or any instrumentality, department, or corporation of or established by a state or local government, that: (1) owns or operates an electric or natural gas facility or an electric or natural gas operation; (2) supplies natural gas or electric energy to another utility special entity; (3) has public service obligations under federal, state, or local law or regulation to deliver electric energy or natural gas service to customers; or (4) is a federal power marketing agency.

Redefines swap to include a utility operations-related swap.

Defines "utility operations-related swap" as one that: (1) is entered into to hedge or mitigate commercial risk; (2) is associated with specified transactions in electric energy or natural gas; and (3) is not a contract, agreement, or transaction based on, derived on, or referencing

  • an interest rate, credit, equity, or currency asset class; or
  • a metal, agricultural commodity, or crude oil or gasoline commodity of any grade, except as used as fuel for electric energy generation.

What just happenedJun 13, 2013

Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Who’s behind it

Rep. LaMalfa, Doug [R-CA-1](R-CA)Sponsor
42 cosponsors22 D20 R
Read on Congress.gov
42cosponsors2committees18actions2related bills7subjects
  • Referred in SenateJun 13, 2013
  • Engrossed in HouseJun 12, 2013
  • Reported in HouseJun 12, 2013
  • Introduced in HouseMar 11, 2013
  1. Jun 13, 2013IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

  2. Jun 12, 2013FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jun 12, 2013FloorH37300

    On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 423 - 0 (Roll no. 219). (text: CR H3307)

  4. Jun 12, 2013Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 423 - 0 (Roll no. 219).(text: CR H3307)

  5. Jun 12, 2013FloorH30000

    Considered as unfinished business. (consideration: CR H3332-3333)

  6. Jun 12, 2013FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  7. Jun 12, 2013FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 1038.

  8. Jun 12, 2013FloorH30000

    Considered under suspension of the rules. (consideration: CR H3307-3309)

  9. Jun 12, 2013FloorH30300

    Mr. LaMalfa moved to suspend the rules and pass the bill.

  10. Jun 12, 2013CommitteeH12200

    Reported by the Committee on Agriculture. H. Rept. 113-107.

  11. Jun 12, 2013CalendarsH12410

    Placed on the Union Calendar, Calendar No. 76.

  12. Jun 12, 2013Committee5000

    Reported by the Committee on Agriculture. H. Rept. 113-107.

  13. Mar 20, 2013Committee

    Ordered to be Reported by Voice Vote.

  14. Mar 20, 2013Committee

    Committee Consideration and Mark-up Session Held.

  15. Mar 14, 2013Committee

    Committee Hearings Held.

  16. Mar 11, 2013IntroReferralH11100

    Referred to the House Committee on Agriculture.

  17. Mar 11, 2013IntroReferralIntro-H

    Introduced in House

  18. Mar 11, 2013IntroReferral1000

    Introduced in House

Passed House without amendmentJun 12, 201381

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Public Power Risk Management Act of 2013 - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC), when it determines whether to provide an exemption to designation as a swap dealer, to treat a utility operations-related swap entered into with a utility special entity as if such swap were entered into with an entity that is not a special entity. (Thus exempts an entity entering into a utility operations-related swap with a utility special entity from mandatory registration as a swap dealer.)

Requires transactions in utility operations-related swaps to be reported according to requirements for the reporting of uncleared swaps.

Defines "utility special entity" as a special entity, or any instrumentality, department, or corporation of or established by a state or local government, that: (1) owns or operates an electric or natural gas facility or an electric or natural gas operation; (2) supplies natural gas or electric energy to another utility special entity; (3) has public service obligations under federal, state, or local law or regulation to deliver electric energy or natural gas service to customers; or (4) is a federal power marketing agency.

Redefines swap to include a utility operations-related swap.

Defines "utility operations-related swap" as one that: (1) is entered into to hedge or mitigate commercial risk; (2) is associated with specified transactions in electric energy or natural gas; and (3) is not a contract, agreement, or transaction based on, derived on, or referencing

  • an interest rate, credit, equity, or currency asset class; or
  • a metal, agricultural commodity, or crude oil or gasoline commodity of any grade, except as used as fuel for electric energy generation.
Introduced in HouseMar 11, 2013

Public Power Risk Management Act of 2013 - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC), when it determines whether to provide an exemption to designation as a swap dealer, to treat a utility operations-related swap entered into with a utility special entity as if such swap were entered into with an entity that is not a special entity. (Thus exempts an entity entering into a utility operations-related swap with a utility special entity from mandatory registration as a swap dealer.)

Requires transactions in utility operations-related swaps to be reported according to requirements for the reporting of uncleared swaps.

Defines "utility special entity" as a special entity, or any instrumentality, department, or corporation of or established by a state or local government, that: (1) owns or operates an electric or natural gas facility or an electric or natural gas operation; (2) supplies natural gas or electric energy to another utility special entity; (3) has public service obligations under federal, state, or local law or regulation to deliver electric energy or natural gas service to customers; or (4) is a federal power marketing agency.

Redefines swap to include a utility operations-related swap.

Defines "utility operations-related swap" as one that: (1) is entered into to hedge or mitigate commercial risk; (2) is associated with specified transactions in electric energy or natural gas; and (3) is not a contract, agreement, or transaction based on, derived on, or referencing

  • an interest rate, credit, equity, or currency asset class; or
  • a metal, agricultural commodity, or crude oil or gasoline commodity of any grade, except as used as fuel for electric energy generation.
Public Power Risk Management Act of 2013 — Informed