H. Res. 609: H.R. 2201 - Micro Offering Safe Harbor Act

COMMITTEE ACTION: REPORTED BY A RECORD VOTE OF 9-4 on Tuesday, November 7, 2017.

FLOOR ACTION: ADOPTED BY A RECORD VOTE OF 233-190 AFTER ORDERING THE PREVIOUS QUESTION BY A RECORD VOTE OF 224-190 on Wednesday, November 8, 2017.

MANAGERS: Slaughter/Buck

115th Congress

1st Session

Rule

H. RES. 609

Report No. 115-401

 

H.R. 2201 - Micro Offering Safe Harbor Act

  1. Structured rule.
  2. Provides one hour of debate equally divided and controlled by the chair
  3. and ranking minority member of the Committee on Financial Services.
  4. Waives all points of order against consideration of the bill.
  5. Provides that the bill shall be considered as read.
  6. Waives all points of order against provisions in the bill.
  7. Makes in order only the amendment printed in the Rules Committee report, if offered by the Member designated in the report, which shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
  8. Waives all points of order against the amendment printed in the report.
  9. Provides one motion to recommit with or without instructions.

 

RESOLUTION

 

Resolved, That upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 2201) to amend the Securities Act of 1933 to exempt certain micro-offerings from the registration requirements of such Act, and for other purposes. All points of order against consideration of the bill are waived. The bill shall be considered as read. All points of order against provisions in the bill are waived. The previous question shall be considered as ordered on the bill and on any amendment thereto to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services; (2) the amendment printed in the report of the Committee on Rules accompanying this resolution, if offered by the Member designated in the report, which shall be in order without intervention of any point of order, shall be considered as read, shall be separately debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for division of the question; and (3) one motion to recommit with or without instructions.

 

SUMMARY OF AMENDMENT PROPOSED TO BE MADE IN ORDER

(summaries derived from information provided by sponsors)

 

Sponsor

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Description

Debate Time

1. Emmer (MN)

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Amends the bill to not allow the exemption to be available for those who have been disqualified under the "bad actor" disqualification standard of section 230.506(d) of title 17, Code of Federal Regulations, providing an additional layer of investor protection in the bill.

(10 minutes)