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Looks like they buckled quickly to get the rest of the bill through ASAP.

Pension fund provisions out of House bill

by Doug Halonen

A bill in the House Agriculture Committee that would deal with commodity speculation was dramatically revised today to delete provisions in a previous draft that would have barred pension funds from investing in agricultural and energy commodities and engaging in equity and interest rate swaps, a committee aide said.

“(The) pension provisions are out of the bill,” the aide, who asked not to be identified, wrote in an e-mail response to a P&I Daily inquiry. The aide could not say why the provisions were removed.

Pension industry advocates said that the threat of the bans — included in the draft bill that was being circulated Wednesday — was met by significant opposition from pension fund representatives.

The draft and the revised bill were both sponsored by Rep. Collin Peterson, D-Minn. The committee will vote on the bill this afternoon, according to the committee.

“It’s going to be a pretty innocuous bill,” said one pension industry lobbyist, who asked not to be identified by name. “We’re not sweating it for sure.”


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