Commodity Delivery Relief Act

Commodity Delivery Relief Act - Amends the Commodity Exchange Act to revise the exclusion from the definition of "swap" of any sale of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled.

Excludes from the meaning of "swap" also: (1) any purchase of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled; and (2) any stand-alone or embedded option for which exercise results in a physical delivery obligation.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4267 Introduced in House (IH)]

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;''.
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