H.R. 10109
Wildfire Event Contract Prohibition Act
Sponsor: Michael Baumgartner · 0 cosponsors
Official summary
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Text of the bill
Section 5c(c)(5) of the Commodity Exchange Act (7 U.S.C. 7a–2(c)(5)) is amended by adding at the end the following:
(D) Prohibition on wildfire event contracts
(i) In general. Notwithstanding any other provision of this section, no agreement, contract, transaction, or swap involving a matter described in clause (ii) (or any index, measure, value, or data related thereto, or occurrence, extent of an occurrence, or contingency based thereon) may be listed or made available for clearing or trading on or through a registered entity.
(ii) Matter described. The matter referred to in clause (i) is any wildfire event, including the ignition, occurrence, location, duration, intensity, size, spread, containment, evacuation resulting from, injury or death caused by, or property damage resulting from a wildfire.