H. Res. 657: H.R. 2396 – Privacy Notification Technical Clarification Act; H.R. 4015 - Corporate Governance Reform and Transparency Act of 2017

COMMITTEE ACTION: REPORTED BY A RECORD VOTE OF 8-4 on Tuesday, December 12, 2017.

FLOOR ACTION: ADOPTED BY A RECORD VOTE OF 240-184 AFTER ORDERING THE PREVIOUS QUESTION BY A RECORD VOTE OF 236-187 on Wednesday, December 13, 2017.

MANAGERS: Polis/Woodall

115th Congress

1st Session

Rule

H. RES. 657

Report No. 115-462

 

H.R. 2396 - Privacy Notification Technical Clarification Act

H.R. 4015- Corporate Governance Reform and Transparency Act of 2017

  1. Structured rule for H.R. 2396.
  2. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  3. Waives all points of order against consideration of the bill.
  4. Provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as adopted and the bill, as amended, shall be considered as read.
  5. Waives all points of order against provisions in the bill, as amended.
  6. Makes in order only the further 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.
  7. Waives all points of order against the amendment printed in the report.
  8. Provides one motion to recommit with or without instructions.
  9. Closed rule for H.R. 4015.
  10. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  11. Waives all points of order against consideration of the bill.
  12. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-46 shall be considered as adopted and the bill, as amended, shall be considered as read.
  13. Waives all points of order against provisions in the bill, as amended.
  14. Provides one motion to recommit with or without instructions.

 

RESOLUTION

Resolved, That upon adoption of this resolution it shall be in order to conside1· in the House the bill (H.R. 2396) to amend the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions. All points of order against consideration of the bill are waived. The amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further 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 further 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.

 Sec. 2. Upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 4015) to improve the quality of proxy advisory firms for the protection of investors and the U.S. economy, and in the public interest, by fostering accountability, transparency, responsiveness, and competition in the proxy advisory firm industry. All points of order against consideration of the bill are waived. An amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-46 shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further 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; and (2) one motion to recommit with or without instructions.

 

SUMMARY OF AMENDMENT TO H.R. 2396 PROPOSED TO BE MADE IN ORDER

(summaries derived from information provided by sponsors)

Sponsor

#

Description

Debate Time

1.Clay (MO), Trott (MI)

#1

Page 3, line 11, strike ‘‘financial institution’’ and insert ‘‘vehicle financial company".

(10 minutes)