US Congress House Bill 5471 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Engrossed on December 3 2014 - 50% progression, died in committee
Action: 2014-12-10 - Referred to the Committee on Agriculture, Nutrition, and Forestry.
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Engrossed) [PDF]

Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to revise the treatment of affiliate transactions that may be exempt from clearing requirements to authorize such an exemption only if the affiliate enters into the swap to hedge or mitigate the commercial risk of the person that is not a financial entity (as under current law), provided that an appropriate credit support measure or other mechanism must be used if the hedge or mitigation of commercial risk is addressed by entering into a swap with either: (1) a swap dealer or major swap participant, or (2) a security-based swap with a security- based swap dealer or major security-based swap participant.

To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes.

Rep. Gwen Moore [D-WI]

Rep. Marcia Fudge [D-OH]

Rep. Christopher Gibson [R-NY]

Rep. Steve Stivers [R-OH]

Date	Chamber	Action
2014-12-10	Senate	Referred to the Committee on Agriculture, Nutrition, and Forestry.
2014-12-10	Senate	Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
2014-12-03	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2014-12-02	House	Motion to reconsider laid on the table Agreed to without objection.
2014-12-02	House	On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8240)
2014-12-02	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 5471.
2014-12-02	House	Considered under suspension of the rules. (consideration: CR H8240-8244)
2014-12-02	House	Mr. Luetkemeyer moved to suspend the rules and pass the bill.
2014-09-22	House	Referred to the Subcommittee on General Farm Commodities and Risk Management.
2014-09-15	House	Referred to House Agriculture
2014-09-15	House	Referred to House Financial Services
2014-09-15	House	Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, 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.

HB4413 (Related) 2014-06-25 - Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
HB5405 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SB2976 (Related) 2014-12-04 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/5471/all-info
Text	https://www.congress.gov/113/bills/hr5471/BILLS-113hr5471ih.pdf
Text	https://www.congress.gov/113/bills/hr5471/BILLS-113hr5471eh.pdf