Notice of Action: H.R. 556 - National Security Foreign Investment Reform and Strengthened Transparency Act of 2007

Tuesday, February 27, 2007

5:30 P.M.

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H.R. 556   Financial Services     National Security Foreign Investment Reform and Strengthened Transparency Act of 2007 

The Committee granted, by a 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 clause 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 provides that the committee amendment in the nature of a substitute shall be considered for amendment by section and that each section shall be considered as read.

The rule also makes in order only those amendments to the amendment in the nature of a substitute that are pre-printed in the Congressional Record 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.