Statements on Introduced Bills and Joint Resolutions

Floor Speech

4610

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 ``Food and Energy Security Act''. SEC. 2. DEFINITIONS.

In this Act:

(1) Agriculture or closely related business.--The term ``agriculture or closely related business'' means a for- profit or not-for-profit entity that is involved in the production of agriculture products or livestock or involved in the supply chain of an entity involved in the production of agriculture products or livestock.

(2) Energy or closely related business.--The term ``energy or closely related business'' means a for-profit or not-for- profit entity that is involved in the production, development, or marketing of electricity, fuel (including biofuels), or other related products or involved in the supply chain of an entity involved in the production, development, or marketing of electricity, fuel (including biofuels), or other related products.

(3) Federal regulator.--The term ``Federal regulator'' means--

(A) the Board of Governors of the Federal Reserve System;

(B) the Office of the Comptroller of the Currency;

(C) the Federal Deposit Insurance Corporation;

(D) the Financial Stability Oversight Council;

(E) the National Credit Union Administration;

(F) the Bureau of Consumer Financial Protection;

(G) the Commodity Futures Trading Commission; and

(H) the Securities and Exchange Commission. SEC. 3. REGULATIONS AND GUIDANCE.

(a) In General.--As part of any public notice of a proposed regulation or guidance and final regulation or guidance that could affect the extension of capital to or investments in an agriculture or closely related business or an energy or closely related business, a Federal regulator shall provide a detailed analysis of the estimated impact the regulation or guidance would have on food prices, electricity prices, and fuel prices, as applicable, including a description of the methodology and variables used to arrive at the estimates.

(b) Contents.--The estimated impacts required under subsection (a) shall include how the proposed regulation or guidance or final regulation or guidance of the Federal regulator would, as applicable, affect--

(1) food prices (broken down by subcategories as listed in the Consumer Price Index for All Urban Consumers by the Bureau of Labor Statistics, as relevant) over 1 year, 3 years, 5 years, and 10 years;

(2) electricity prices (broken down by subcategories as listed in the Consumer Price Index for All Urban Consumers by the Bureau of Labor Statistics, as relevant) over 1 year, 3 years, 5 years, and 10 years; and

(3) fuel prices (broken down by subcategories as listed in the Consumer Price Index for All Urban Consumers by the Bureau of Labor Statistics, as relevant) over 1 year, 3 years, 5 years, and 10 years. SEC. 4. PROHIBITION.

A Federal regulator shall not implement any regulation or guidance that could affect, directly or indirectly, the extension of capital to or investments in an agriculture or closely related business or an energy or closely related business if--

(1) the analysis of estimated impacts under section 3 estimate that implementation of the regulation or guidance would result in an increase in food prices, electricity prices, or fuel prices; and

(2) the annualized rate of increase in the Consumer Price Index for All Urban Consumers most recently published by the Bureau of Labor Statistics is 4.5 percent or greater. SEC. 5. RULE OF CONSTRUCTION.

Nothing in this Act may be construed as affecting any regulation or guidance of a Federal regulator that was implemented before January 1, 2022. ______

By Ms. COLLINS (for herself and Mr. Cardin):

S. 4618. A bill to improve access to opioid use disorder treatment services under the Medicare program; to the Committee on Finance.

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