Text: H.R.4267 — 113th Congress (2013-2014)All Information (Except Text)

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Introduced in House (03/14/2014)


113th CONGRESS
2d Session
H. R. 4267


To amend the Commodity Exchange Act to provide relief for end users who use physical contracts with volumetric optionality.


IN THE HOUSE OF REPRESENTATIVES

March 14, 2014

Mr. McAllister introduced the following bill; which was referred to the Committee on Agriculture


A BILL

To amend the Commodity Exchange Act to provide relief for end users who use physical contracts with volumetric optionality.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Commodity Delivery Relief Act”.

SEC. 2. Relief for end users who use physical contracts with volumetric optionality.

Section 1a(47)(B)(ii) of the Commodity Exchange Act (7 U.S.C. 1a(47)(B)(ii)) is amended to read as follows:

“(ii) any purchase or sale of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled, including any stand-alone or embedded option for which exercise results in a physical delivery obligation;”.