S. 1399: Carbon Market Oversight Act of 2009

111th Congress · introduced 2009-07-06 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S7144-7149)

federal

Follow this bill, step by step

Where it came from: introduced 2009-07-06 · official record
Who proposed it: Sen. Feinstein, Dianne [D-CA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S7144-7149) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Carbon Market Oversight Act of 2009

Plain summary

Carbon Market Oversight Act of 2009 - Amends the Commodity Exchange Act to establish an Office of Carbon Market Oversight in the Commodity Futures Trading Commission (CFTC), headed by a Director for Carbon Market Oversight. Grants the CFTC authority to regulate all contracts involving a regulated instrument. Defines "regulated instrument" as any regulated allowance (i.e., a greenhouse gas emission allowance or government-issued unit of reduction in the quantity of emissions, or an increase in sequestration, equal to one carbon dioxide equivalent) or regulated allowance derivative (i.e., instruments, contracts, or other obligations linked to the market for regulated allowances). Makes it unlawful to engage in the trading of regulated instruments unless: (1) transactions are conducted through a carbon allowance trading facility established by this Act; (2) sale or purchase contracts are evidenced by a record in writing; and (3) contracts are cleared through the Carbon Clearing Organization established by this Act. Prohibits price or market manipulation, misleading statements, or fraud in connection with the trading of regulated instruments. Authorizes the CFTC to establish a carbon allowance trading facility to establish and enforce rules for trading in regulated instruments. Sets forth eligibility, registration, and educational requirements for market traders, dealers, and brokers in the regulated instrument market. Requires the CFTC to: (1) establish a Carbon Clearing Organization to create a common clearing platform for regulated instruments; (2) facilitate the dissemination of reliable and accurate last-sale and quotation information for transactions in regulated instruments; and (3) collect and analyze information on the functioning of the markets for regulated instruments. Grants the CFTC certain administrative powers to enforce this Act, including the power to conduct investigations, review adverse actions by a registered carbon trading facility, suspend or revoke a registered carbon trading facility designation, or issue emergency orders. Authorizes the CFTC to bring a civil action to prevent or punish violations of this Act. Imposes criminal penalties on persons who knowingly violate the requirements of this Act or who fail to comply with a cease and desist order.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Carbon Market Oversight Act of 2009

Source: Congressional Research Service summary (Introduced in Senate)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Feinstein, Dianne [D-CA] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sheldon Whitehouse (D-RI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1399.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s1399 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111