Moolenaar Co-Sponsors Amendment to Benefit Fourth District Universities and Religious Charities
Today, John Moolenaar (R-Midland) co-sponsored an amendment to the Commodities Future Trading Commission reauthorization bill. The amendment clarifies regulations in the Commodity Exchange Act and allows college endowments, college alumni associations and religious organizations with investment funds to avoid unnecessary registration costs with the CFTC.
“College endowments and religious organizations are not commodity pool operators and this is a commonsense clarification. With this legislation, the colleges and universities in the Fourth District will be better able to serve their students, alumni, and communities, and religious organizations can focus their efforts on helping the less fortunate, not excessive government paperwork,” said Moolenaar.
The amendment was adopted by the committee. The CFTC reauthorization bill passed the House Agriculture Committee and was reported to the House.