US Congress House Bill 5649 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on May 8 2012 - 25% progression, died in committee
Action: 2012-05-30 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
Pending: House Subcommittee on General Farm Commodities and Risk Management Committee
Text: Latest bill text (Introduced) [PDF]

Manufacturing Certainty and Captive Finance Affiliate Clarification Act - Amends the Commodity Exchange Act to redefine an exclusion from "major swap participant" (and as a result from the swap clearing requirement) an entity (captive finance company) whose primary business is providing financing that facilitates the sale or lease of products by or on behalf of the parent company or its subsidiary, and uses derivatives only for the purpose of hedging underlying commercial risks in a consolidated financing and leasing portfolio at least 90% of which, as of the end of its preceding fiscal year, is qualifying financing (including loans, notes, installment sales contracts, receivables, and operating and financing leases). Declares amendments made by this Act effective as of the enactment of the Wall Street Transparency and Accountability Act of 2010 (title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act).

Manufacturing Certainty and Captive Finance Affiliate Clarification Act

Rep. Robert Schilling [R-IL]

Rep. Mike McIntyre [D-NC]

Rep. William Owens [D-NY]

Date	Chamber	Action
2012-05-30	House	Referred to the Subcommittee on General Farm Commodities and Risk Management.
2012-05-08	House	Referred to the House Committee on Agriculture.

HB3336 (Related) 2012-04-26 - Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/5649/all-info
Text	https://www.congress.gov/112/bills/hr5649/BILLS-112hr5649ih.pdf