US Congress House Bill 634 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Engrossed on June 13 2013 - 50% progression, died in committee
Action: 2013-06-13 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Business Risk Mitigation and Price Stabilization Act of 2013 - Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; (2) is eligible for a public interest exemption from swap clearing requirements for certain cooperative entities; or (3) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates. Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

Business Risk Mitigation and Price Stabilization Act of 2013

Rep. Michael Grimm [R-NY]	Rep. Michael Conaway [R-TX]	Rep. Stephen Fincher [R-TN]	Rep. Mike McIntyre [D-NC]
Rep. William Owens [D-NY]	Sen. Gary Peters [D-MI]	Rep. Austin Scott [R-GA]	Rep. David Scott [D-GA]
Rep. Juan Vargas [D-CA]

2013-06-12 - House - On Motion to Suspend the Rules and Pass, as Amended (Y: 411 N: 12 NV: 11 Abs: 0) [PASS]

Date	Chamber	Action
2013-06-13	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2013-06-12	House	Motion to reconsider laid on the table Agreed to without objection.
2013-06-12	House	On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 411 - 12 (Roll no. 215). (text: CR H3301)
2013-06-12	House	Considered as unfinished business. (consideration: CR H3316-3317)
2013-06-12	House	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.
2013-06-12	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 634.
2013-06-12	House	Considered under suspension of the rules. (consideration: CR H3301-3304)
2013-06-12	House	Mr. Hensarling moved to suspend the rules and pass the bill, as amended.
2013-06-12	House	Placed on the Union Calendar, Calendar No. 74.
2013-06-12	House	Reported by the Committee on Agriculture. H. Rept. 113-105, Part II.
2013-06-12	House	Reported by the Committee on Financial Services. H. Rept. 113-105, Part I.
2013-05-07	House	Ordered to be Reported by the Yeas and Nays: 59 - 0.
2013-05-07	House	Committee Consideration and Mark-up Session Held.
2013-04-11	House	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
2013-03-28	House	Committee Hearings Held.
2013-03-20	House	Ordered to be Reported by Voice Vote.
2013-03-20	House	Committee Consideration and Mark-up Session Held.
2013-03-14	House	Committee Hearings Held.
2013-02-13	House	Referred to House Agriculture
2013-02-13	House	Referred to House Financial Services
2013-02-13	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.

SB888 (Related) 2013-05-08 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 67.
HB2136 (Related) 2013-06-03 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
SB2330 (Related) 2014-05-13 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S2955-2957)
HB5405 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB5461 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/634/all-info
Text	https://www.congress.gov/113/bills/hr634/BILLS-113hr634ih.pdf
Text	https://www.congress.gov/113/bills/hr634/BILLS-113hr634eh.pdf
Text	https://www.congress.gov/113/bills/hr634/BILLS-113hr634rh.pdf
Roll Call	https://clerk.house.gov/Votes/2013215