H.R.785 - Halt Index Trading of Energy Commodities (HITEC) Act113th Congress (2013-2014)
|Sponsor:||Rep. Markey, Edward J. [D-MA-5] (Introduced 02/15/2013)|
|Committees:||House - Agriculture|
|Latest Action:||03/13/2013 Referred to the Subcommittee on General Farm Commodities and Risk Management. (All Actions)|
This bill has the status Introduced
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Summary: H.R.785 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (02/15/2013)
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.