H.R. 1038: Public Power Risk Management Act of 2013

Introduced:
Mar 11, 2013
Status:
Passed House
Prognosis
19% chance of being enacted
See Instead:

S. 1802 (same title)
Referred to Committee — Dec 11, 2013

Track this bill
Sponsor
Doug LaMalfa
Representative for California's 1st congressional district
Party
Republican
Text
Read Text »
Last Updated
Jun 13, 2013
Length
5 pages
Related Bills
S. 1802 (identical)

Referred to Committee
Last Action: Dec 11, 2013

 
Status

This bill passed in the House on June 12, 2013 and goes to the Senate next for consideration.

Progress
Introduced Mar 11, 2013
Referred to Committee Mar 11, 2013
Reported by Committee Mar 20, 2013
Passed House Jun 12, 2013
Passed Senate ...
Signed by the President ...
Prognosis

19% chance of being enacted.

Only about 23% of bills that made it past committee in 2011–2013 were enacted. [show factors | methodology]

 
Full Title

To provide equal treatment for utility special entities using utility operations-related swaps, and for other purposes.

Summary

No summaries available.

Votes
On Motion to Suspend the Rules and Pass
Jun 12, 2013 5:31 p.m.
Passed 423/0

Cosponsors
42 cosponsors (22D, 20R) (show)
Committees

House Agriculture

Senate Agriculture, Nutrition, and Forestry

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

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


6/12/2013--Passed House without amendment.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

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