H.R. 1003: To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders.

Introduced:
Mar 06, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Michael Conaway [R-TX11]
Status:
Reported by Committee

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

The committees assigned to this bill sent it to the House or Senate as a whole for consideration on March 20, 2013.

Progress
Introduced Mar 06, 2013
Referred to Committee Mar 06, 2013
Reported by Committee Mar 20, 2013
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

15% chance of being enacted.

Only 28% of House bills that made it past committee in 2011–2013 were enacted. [show factors | methodology]

Cosponsors
6 cosponsors (4R, 2D) (show)
Committees

House Agriculture

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Mar 06, 2013.
3 pages

Primary Source

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/6/2013--Introduced.
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.

House Republican Conference Summary

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The bill contains the following citations to other parts of U.S. law:

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