Amends the Commodity Exchange Act to include a prohibition on the trading of water and water rights for future delivery.
Specifically modifies Section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)) to:
Clarify the definition to explicitly include water or water rights (or any index, measure, value, or data related to water or water rights) as items that cannot be traded for future delivery.
Adjust the language to ensure water and water rights are covered alongside other commodities that are already regulated under this act.
Also amends the first section of Public Law 85-839 (7 U.S.C. 13-1) to:
Insert a prohibition against the future trading of water or water rights (or any related index, measure, value, or data) immediately after the mention of other commodities.
Make technical corrections to ensure consistency in the prohibition’s application to water and water rights trading.