A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".

Senate Joint Resolution

S.J.Res. 9

119th Congress

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".

In Committee

Introduced:Jan 30, 2025

Primary Sponsor

Sponsor information unavailable

Cosponsors

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Quick Stats

Summary

This joint resolution would cancel guidance issued by the Commodity Futures Trading Commission in October 2024 about how to list voluntary carbon credit derivative contracts. If passed, the resolution would nullify this guidance and prevent it from having any legal effect. Congress is using a special process that allows it to overturn recently issued federal agency rules.

Latest Action

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Introduced1/30/2025

StatusRead twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

ChamberSenate

Data from Congress.gov

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Vote Prediction

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".

This joint resolution would cancel guidance issued by the Commodity Futures Trading Commission in October 2024 about how to list voluntary carbon credit derivative contracts. If passed, the resolution would nullify this guidance and prevent it from having any

Community Breakdown

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This joint resolution would cancel guidance issued by the Commodity Futures Trading Commission in October 2024 about how to list voluntary carbon credit derivative contracts. If passed, the resolution would nullify this guidance and prevent it from having any legal effect. Congress is using a special process that allows it to overturn recently issued federal agency rules.

Bill Number: 9
Introduced: 1/30/2025
Status: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".
Bill Number: 9
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Introduced: 1/30/2025
Summary: This joint resolution would cancel guidance issued by the Commodity Futures Trading Commission in October 2024 about how to list voluntary carbon credit derivative contracts. If passed, the resolution would nullify this guidance and prevent it from having any legal effect. Congress is using a specia

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This joint resolution would cancel guidance issued by the Commodity Futures Trading Commission in October 2024 about how to list voluntary carbon credit derivative contracts. If passed, the resolution would nullify this guidance and prevent it from having any legal effect. Congress is using a special process that allows it to overturn recently issued federal agency rules.

Last updated: 3/3/2026

Key Points

Main provisions of the bill

The resolution uses the Congressional Review Act, which allows Congress to overturn rules issued by federal agencies within a certain timeframe.
It targets guidance from the Commodity Futures Trading Commission published on October 15, 2024, about voluntary carbon credit derivative contracts.
Carbon credit derivatives are financial contracts based on credits that represent reductions in carbon emissions.
If this resolution passes both the Senate and House and is signed into law, the Commission's guidance would be eliminated and have no legal force.
The resolution was introduced by two senators and has been referred to the Senate Committee on Agriculture, Nutrition, and Forestry for consideration.

How This Impacts Americans

Potential effects on citizens and communities

This resolution would primarily affect companies and traders involved in carbon credit markets, as well as the Commodity Futures Trading Commission's ability to regulate these markets. Without the guidance, there would be less federal direction on how exchanges should list carbon credit derivative contracts. Environmental markets and businesses participating in voluntary carbon trading programs could face more uncertainty about regulatory expectations.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

9, 119th Congress (2025). "A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".". Source: Voter's Right Platform. https://votersright.org/bills/119-sjres-9

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