Notice of Action: H.R. 3269

Thursday, July 30, 2009

 3:50 P.M. 

H.R. 3269

Financial Services

Corporate and Financial Institution Compensation Fairness Act of 2009

The Committee granted, by a non-record vote, a structured rule providing for consideration of H.R. 3269, the “Corporate and Financial Institution Compensation Fairness Act of 2009,” with one hour of general debate in the House 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 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 rule waives all points of order against provisions of the bill, as amended.  The rule provides that the bill, as amended, shall be considered as read.  

The rule makes in order the amendment printed in the report of the Committee on Rules if offered by Rep. Frank or his designee, which shall be considered as read, shall be separately debatable for 10 minutes equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for division of the question.  The rule also makes in order the amendment in the nature of a substitute printed in the report, if offered by Representative Garrett or his designee, which shall be separately debatable for 30 minutes equally divided and controlled by the proponent and an opponent.

The rule waives all points of order against the amendments printed in the report except for clauses 9 and 10 of rule XXI.  The rule provides one motion to recommit with or without instructions.  The rule also provides that during consideration of an amendment printed in the report, the Chair may postpone the question of adoption as though under clause 8 of rule XX.  Finally the rule provides that in the engrossment of the bill, the Clerk is authorized to make technical and conforming changes to amendatory instructions.