H.R. 785: Halt Index Trading of Energy Commodities (HITEC) Act

Introduced:
Feb 15, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Edward “Ed” Markey [D-MA5]
Status:
Referred to 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

This bill was assigned to a congressional committee on February 15, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Feb 15, 2013
Referred to Committee Feb 15, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

2% chance of getting past committee.
0% chance of being enacted.

Only 11% of House bills made it past committee and only 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
21 cosponsors (21D) (show)
Committees

House Agriculture

↪ General Farm Commodities and Risk Management

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

Full Title

To prevent excessive speculation in energy commodities, and for other purposes.

Summary

No summaries available.

Text

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Last updated Feb 15, 2013.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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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.

2/15/2013--Introduced.
Halt Index Trading of Energy Commodities (HITEC) Act - Amends the Commodity Exchange Act to declare unlawful for:
(1) a commodity index fund to engage in an energy commodity transaction if any person investing in the fund is an excluded investor,
(2) an energy commodity index fund to accept an investment from a person who is an excluded investor, or
(3) a commodity index fund to hold an investment in an energy commodity if any person investing in the fund is an excluded investor.
Defines "excluded investor" as a person with respect to whom there is no position in an energy commodity which, if held by the person, would be considered a bona fide hedging position.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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

United States Code

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