Posted 11/12/2009
By Clarence Mills

House Member Introduces Reform Finance Legislation

Rep. Paul Kanjorski, D-Pa., chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises, recently released three discussion draft pieces of legislation.

All three drafts center on reforming finance regulation at the federal level. The legislation includes the Investor Protection Act, the Private Fund Investment Advisers Registration Act and the Federal Insurance Office Act.

Kanjorski's objectives are to overcome the shortcomings of financial industries that were involved in the recent financial crisis, to restore confidence in investors, to install government oversight and authority, to increase insurance knowledge and expertise at the federal level and enhance global competitiveness for U.S. insurance
companies.

The House Committee on Financial Services held a hearing to discuss "Capital Markets Regulatory Reform: Strengthening Investor Protection, Enhancing Oversight of Private Pools of Capital, and Creating a National Insurance Office," which focused on Kanjorski's three discussion drafts.

Of most importance to repairers is the new National Insurance Office proposal.

EPA Designates 31 New Nonattainment Areas

The U.S. Environmental Protection Agency (EPA) is designating 31 areas throughout the United States as not meeting federal standards for particulate matter.

The EPA aims to decrease the harm caused by exposure to fine particle pollution, which has been linked to breathing problems, heart attacks and premature death. The EPA notes that particulate matter is most commonly emitted by power plants, factories and motor vehicles.

These new nonattainment areas are made up of 120 full or partial counties. The EPA has labeled these areas "nonattainment" because selected pollutants exceed federal standards.

Affected states and tribes will be required to take steps to reduce the pollution that forms fine particles. The majority of U.S. counties and tribal lands are meeting these standards, but will need to continue working to maintain clear air. To see a map of the areas, visit www.TakingTheHill.com.

EPA Strives for National GHG Regulation

The U.S. Environmental Protection Agency (EPA), under its Collision Repair Campaign (CRC), has released a free 19-minute training video to familiarize collision repair facilities with the requirements of new paint regulations. The video features an introduction by Jeff Gordon, professional race car driver.

The video focuses on helping collision repair shops achieve meaningful emissions reductions. The campaign is designed to provide shops with the opportunity to attain early compliance of the new regulation.

The deadline for initial notification for existing shops/sources - which informs the EPA that a facility is subject to the standards and when the source will be in compliance - is Jan. 11, 2010. The deadline for notification of compliance for existing shops/sources - which certifies that the source is in compliance with the applicable requirements - is March 11, 2011.

That means all collision repair shops must comply by the Jan. 11, 2010, deadline and they must submit a Notification of Compliance by March 11, 2011.

Visit the home page of the EPA's Collision Repair Campaign (www.epa.gov/collisionrepair/training.html) for additional resources about the compliance requirements of the new regulations.