Notice of Action: H.R. 1257 - Shareholder Vote on Executive Compensation Act of 2007; H.R. 1361 - Relief for Entrepreneurs: Coordination of Objectives and Values for Effective Recovery Act of 2007

H.R. 1257     Financial Services     Shareholder Vote on Executive Compensation Act of 2007        

The Committee granted, by voice vote, an open rule with a preprinting requirement.  The rule provides one hour of general debate equally divided and controlled by the Chairman and Ranking Minority Member of the Committee on Financial Services.  The rule waives all points of order against consideration of the bill except for clauses 9 and 10 of Rule XXI. The rule 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 an original bill for the purpose of amendment. The rule also provides that each section of the amendment in the nature of a substitute shall be considered as read.

The rule makes in order only those amendments to the amendment in the nature of a substitute that have been pre-printed in the Congressional Record on or before Tuesday, April 17, 2007 or are pro forma amendments for the purpose of debate. The rule provides that each amendment printed in the Congressional Record may be offered only by the Member who caused it to be printed or a designee, and that each amendment shall be considered as read.  Finally, the rule provides one motion to recommit with or without instructions. 

H.R. 1361    Small Business   Relief for Entrepreneurs: Coordination of Objectives and Values for Effective Recovery Act of 2007         

The Committee granted, by voice vote, a structured rule.  The rule provides one hour of general debate equally divided and controlled by the Chairman and Ranking Minority Member of the Committee on Small Business.  The rule waives all points of order against consideration of the bill except for clauses 9 and 10 of Rule XXI. The rule provides that the amendment in the nature of a substitute recommended by the Committee on Small Business, modified by the amendment printed in Part A of the Rules Committee report, shall be considered as adopted in the House and in the Committee of the Whole.  The bill as amended shall be considered as an original bill for the purpose of further amendment and shall be considered as read. The rule waives all points of order against provisions in the bill as amended, and provides that no further amendments shall be in order except those amendments printed in Part B of the Rules Committee report accompanying the resolution.

The rule provides that such further amendments made in order in Part B may be offered only in the order printed in the report, may be offered only by a Member designated in the report, 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 in the House or in the Committee of the Whole.  The rule waives all points of order against the amendments printed in the report except for clauses 9 and 10 of Rule XXI. Finally, the rule provides one motion to recommit with or without instructions.