II 

117TH CONGRESS 

2D SESSION S. 4610 

To provide reliable and evidence-based food and energy security. 

IN THE SENATE OF THE UNITED STATES 

JULY 26, 2022 

Mr. THUNE (for himself, Mr. BARRASSO, Mr. BRAUN, Mr. CRAPO, Mr. 

DAINES, Ms. ERNST, Mrs. FISCHER, Mr. HAGERTY, Mr. HOEVEN, Ms. 

LUMMIS, Mr. RISCH, and Mr. ROUNDS) introduced the following bill; 

which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To provide reliable and evidence-based food and energy 

security. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Food and Energy Se5 curity Act’’. 

6 SEC. 2. DEFINITIONS. 

7 In this Act: 

8 (1) AGRICULTURE OR CLOSELY RELATED BUSI9 NESS.—The term ‘‘agriculture or closely related 


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1 business’’ means a for-profit or not-for-profit entity 

2 that is involved in the production of agriculture 

3 products or livestock or involved in the supply chain 

4 of an entity involved in the production of agriculture 

5 products or livestock. 

6 (2) ENERGY OR CLOSELY RELATED BUSI7 NESS.—The term ‘‘energy or closely related busi8 ness’’ means a for-profit or not-for-profit entity that 

9 is involved in the production, development, or mar10 keting of electricity, fuel (including biofuels), or 

11 other related products or involved in the supply 

12 chain of an entity involved in the production, devel13 opment, or marketing of electricity, fuel (including 

14 biofuels), or other related products. 

15 (3) FEDERAL REGULATOR.—The term ‘‘Federal 

16 regulator’’ means— 

17 (A) the Board of Governors of the Federal 

18 Reserve System; 

19 (B) the Office of the Comptroller of the 

20 Currency; 

21 (C) the Federal Deposit Insurance Cor22 poration; 

23 (D) the Financial Stability Oversight 

24 Council; 


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1 (E) the National Credit Union Administra2 tion; 

3 (F) the Bureau of Consumer Financial 

4 Protection; 

5 (G) the Commodity Futures Trading Com6 mission; and 

7 (H) the Securities and Exchange Commis8 sion. 

9 SEC. 3. REGULATIONS AND GUIDANCE. 

10 (a) IN GENERAL.—As part of any public notice of 

11 a proposed regulation or guidance and final regulation or 

12 guidance that could affect the extension of capital to or 

13 investments in an agriculture or closely related business 

14 or an energy or closely related business, a Federal regu15 lator shall provide a detailed analysis of the estimated im16 pact the regulation or guidance would have on food prices, 

17 electricity prices, and fuel prices, as applicable, including 

18 a description of the methodology and variables used to ar19 rive at the estimates. 

20 (b) CONTENTS.—The estimated impacts required 

21 under subsection (a) shall include how the proposed regu22 lation or guidance or final regulation or guidance of the 

23 Federal regulator would, as applicable, affect— 

24 (1) food prices (broken down by subcategories 

25 as listed in the Consumer Price Index for All Urban 


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1 Consumers by the Bureau of Labor Statistics, as 

2 relevant) over 1 year, 3 years, 5 years, and 10 years; 

3 (2) electricity prices (broken down by subcat4 egories as listed in the Consumer Price Index for All 

5 Urban Consumers by the Bureau of Labor Statis6 tics, as relevant) over 1 year, 3 years, 5 years, and 

7 10 years; and 

8 (3) fuel prices (broken down by subcategories 

9 as listed in the Consumer Price Index for All Urban 

10 Consumers by the Bureau of Labor Statistics, as 

11 relevant) over 1 year, 3 years, 5 years, and 10 years. 

12 SEC. 4. PROHIBITION. 

13 A Federal regulator shall not implement any regula14 tion or guidance that could affect, directly or indirectly, 

15 the extension of capital to or investments in an agriculture 

16 or closely related business or an energy or closely related 

17 business if— 

18 (1) the analysis of estimated impacts under sec19 tion 3 estimate that implementation of the regula20 tion or guidance would result in an increase in food 

21 prices, electricity prices, or fuel prices; and 

22 (2) the annualized rate of increase in the Con23 sumer Price Index for All Urban Consumers most 

24 recently published by the Bureau of Labor Statistics 

25 is 4.5 percent or greater. 


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1 SEC. 5. RULE OF CONSTRUCTION. 

2 Nothing in this Act may be construed as affecting 

3 any regulation or guidance of a Federal regulator that was 

4 implemented before January 1, 2022. 

Æ 


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