The House Agriculture Committee on Wednesday approved a bill that would delay the implementation of rules on municipal and other derivatives imposed by the Dodd-Frank Act by at least 18 months, until after the next presidential election.

The rules, approved by a 25 to 20 vote along party lines, would delay the effective date of the rules until Dec. 31, 2012, or 90 days after they are published in the Federal Register, whichever is later.

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