Provisions

A Pennsylvania state Senate committee passed amended impact fee legislation on Monday that returned an impact fee to the bill, added environmental safeguards and changed the way the bill would govern local ordinances over oil and gas drilling.

The Commodity Futures Trading Commission (CFTC) has approved final regulations regarding whistleblower incentives and protection, including provisions to pay individuals who provide the Commission with information about Commodity Exchange Act violations as much as 30% of monetary sanctions subsequently collected. The rules, which the CFTC approved by a 4-1 vote, would allow the Commission to award whistleblowers 10-30% of the monetary sanctions collected in either a CFTC-covered judicial action, administrative action or related action. Actions covered by the regulations include only those resulting in successful resolution resulting in monetary sanctions exceeding $1 million, and the Commission would exercise discretion in granting awards based on several criteria, including the significance of the information provided by whistleblowers. The final regulations become effective 60 days after publication in the Federal Register.

The Commodity Futures Trading Commission (CFTC) on Thursday approved final regulations regarding whistleblower incentives and protection, including provisions to pay individuals who provide the Commission with information about Commodity Exchange Act violations as much as 30% of monetary sanctions subsequently collected.

New York legislators have sent Gov. Andrew Cuomo a bill intended to improve the state’s water management, using a permitting program to prevent “overconsumption” by large-scale users, which may include the energy industry.

A pair of water advocacy groups claim that two Pittsburgh-area treatment plants have been discharging oil and gas wastewater without proper permits.

Natural gas utilities, commercial firms and state regulators have called on the Commodity Futures Trading Commission (CFTC) to refine its proposed definitions for swap dealers and major swap participants, which — unlike commodity end-users — will be subject to mandatory clearing of swaps under the agency’s proposed reforms (see NGI, Dec. 6, 2010).

With less than a month remaining before an election that could change the makeup of both chambers of the Pennsylvania General Assembly, the state’s Republican-controlled Senate is preparing to take up legislation (SB 1155) approved last week by the Democratic-controlled House that would impose a 39 cents/Mcf (about 10%) severance tax on natural gas drilling in the state.

Passage of the revised $700 billion rescue plan for financial markets in the House remains the big unknown. House Majority Leader Steny Hoy (D-MD) said he will not call up the package Friday unless he is assured of passage, CQ Today reported.

The House last Thursday overwhelmingly approved a bill (HR 2830) that would require, among its provisions, that the U.S. Coast Guard enforce security zones around the nation’s liquefied natural gas (LNG) terminals and arriving tankers. The 397-7 vote is more than enough to override a promised veto by President Bush.