CURRENT HOUSE FLOOR PROCEEDINGS LEGISLATIVE DAY OF NOVEMBER 3, 2011 112TH CONGRESS - SECOND SESSION en-us Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Wed, 16 Mar 2016 15:10:40 EDT Yes 9:03:32 P.M. - The House adjourned. The next meeting is scheduled for 9:00 a.m. on November 4, 2011. 9:03:31 P.M. - On motion to adjourn Agreed to by voice vote. 9:03:21 P.M. - Mr. Jackson (IL) moved that the House do now adjourn. 8:04:44 P.M. - SPECIAL ORDER SPEECHES - The House resumed Special Order speeches. 8:04:28 P.M. - The House received a message from the Senate. The Senate passed S. 1759. 7:35:50 P.M. - SPECIAL ORDER SPEECHES - The House resumed Special Order speeches. 7:35:30 P.M. - The House received a message from the Senate. The Senate passed H.R. 818 and S. 1487. 7:03:29 P.M. - SPECIAL ORDER SPEECHES - The House has concluded all anticipated legislative business and has proceeded to Special Order speeches. 6:55:15 P.M. - ONE MINUTE SPEECHES - The House proceeded with further one minute speeches. 6:55:00 P.M. - Mr. Webster filed a report from the Committee on Rules on H. Res. 455. 6:54:37 P.M. - Congressional-Executive Commission on the People's Republic of China - Pursuant to 22 U.S.C 6913 and the order of the House of January 5, 2011, the Speaker appointed Ms. Kaptur, Ohio and Mr. Honda, California. 6:54:27 P.M. - H.R. 2940 Motion to reconsider laid on the table Agreed to without objection. 6:54:26 P.M. - H.R. 2940 The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2930. 6:54:16 P.M. - H.R. 2940 The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2940. 6:54:15 P.M. - H.R. 2940 On passage Passed by recorded vote: 413 - 11 (Roll no. 828). 6:47:51 P.M. - H.R. 2940 On motion to recommit with instructions Failed by recorded vote: 190 - 236 (Roll no. 827). 6:32:00 P.M. - H.R. 2940 The previous question on the motion to recommit with instructions was ordered without objection. 6:25:15 P.M. - H.R. 2940 DEBATE - The House proceeded with 10 minutes of debate on the DeFazio motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to prohibit those who have been convicted of fraud in connection with a financial transaction. 6:24:27 P.M. - H.R. 2940 Mr. DeFazio moved to recommit with instructions to Financial Services. 6:24:00 P.M. - H.R. 2940 On agreeing to the Miller (NC) amendment; Failed by the Yeas and Nays: 190 - 234 (Roll no. 826). 6:17:13 P.M. - H.R. 2940 Considered as unfinished business. H.R. 2940 — "To direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D." 6:17:12 P.M. - H.R. 2930 Motion to reconsider laid on the table Agreed to without objection. 6:17:11 P.M. - H.R. 2930 On passage Passed by recorded vote: 407 - 17 (Roll no. 825). 6:10:37 P.M. - H.R. 2930 On motion to recommit with instructions Failed by recorded vote: 187 - 237 (Roll no. 824). 5:53:49 P.M. - H.R. 2930 The previous question on the motion to recommit with instructions was ordered without objection. 5:45:26 P.M. - H.R. 2930 DEBATE - The House proceeded with 10 minutes of debate on the Holt motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add language that prohibits an intermediary from participating in a crowdfunding transaction if they are doing business with the Iranian government. 5:44:51 P.M. - H.R. 2930 Mr. Holt moved to recommit with instructions to Financial Services. 5:43:34 P.M. - H.R. 2930 The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. 5:43:23 P.M. - H.R. 2930 The previous question was ordered pursuant to the rule. 5:42:51 P.M. - H.R. 2930 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2930. 5:42:34 P.M. - H.R. 2930 On agreeing to the Velazquez amendment; Failed by recorded vote: 189 - 234 (Roll no. 823). 5:18:04 P.M. - H.R. 2930 UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed. 5:17:48 P.M. - H.R. 2930 The Committee resumed its sitting. 5:17:20 P.M. - The House received a message from the Senate. The Senate insists on its amendments and agrees to a Conference with the House on H.R. 2112. The Senate also appointed Conferees. 5:16:47 P.M. - H.R. 2930 The Committee rose informally to receive a message. 5:16:18 P.M. - H.R. 2930 On agreeing to the Perlmutter amendment; Agreed to by voice vote. 5:05:40 P.M. - H.R. 2930 DEBATE - Pursuant to the provisions of H. Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Perlmutter amendment. 5:05:37 P.M. - H.R. 2930 An amendment, offered by Mr. Perlmutter, numbered 6 printed in Part A of House Report 112-265 to preserve a state's right to enforce securities laws with respect to fraud, deceit or unlawful conduct. 5:04:51 P.M. - H.R. 2930 On agreeing to the Barrow amendment; Failed by voice vote. 4:53:21 P.M. - H.R. 2930 DEBATE - Pursuant to the provisions of H. Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Barrow amendment. 4:53:19 P.M. - H.R. 2930 An amendment, offered by Mr. Barrow, numbered 5 printed in Part A of House Report 112-265 to require the Commission to establish a website that provides the public with crowdfunding website safety tips for investing in securities described under section 4(6). 4:53:07 P.M. - H.R. 2930 POSTPONED PROCEEDINGS - At the conclusion of debate on the Velazquez amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Velazquez demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced. 4:42:41 P.M. - H.R. 2930 DEBATE - Pursuant to the provisions of H. Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez amendment. 4:42:39 P.M. - H.R. 2930 An amendment, offered by Ms. Velazquez, numbered 4 printed in Part A of House Report 112-265 to require crowdfunding intermediaries to disclose their method of compensation to potential investors. 4:42:07 P.M. - H.R. 2930 On agreeing to the Quayle amendment; Agreed to by voice vote. 4:37:28 P.M. - H.R. 2930 DEBATE - Pursuant to the provisions of H. Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Quayle amendment. 4:37:26 P.M. - H.R. 2930 An amendment, offered by Mr. Quayle, numbered 3 printed in Part A of House Report 112-265 to index the $10,000 individual investment cap to inflation. 4:36:59 P.M. - H.R. 2930 On agreeing to the Fincher amendment; Agreed to by voice vote. 4:34:19 P.M. - H.R. 2930 DEBATE - Pursuant to the provisions of H. Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Fincher amendment. 4:34:14 P.M. - H.R. 2930 An amendment, offered by Mr. Fincher, numbered 2 printed in Part A of House Report 112-265 to index to inflation the $1 million and $2 million aggregate annual amounts raised through the issue of the securities as authorized in the bill. The index for inflation would be measured by the annual change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics. 4:33:55 P.M. - H.R. 2930 On agreeing to the McHenry amendment; Agreed to by voice vote. 4:32:23 P.M. - H.R. 2930 DEBATE - Pursuant to the provisions of H. Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the McHenry amendment. 4:32:10 P.M. - H.R. 2930 An amendment, offered by Mr. McHenry, numbered 1 printed in Part A of House Report 112-265 to make technical corrections. It also requires the issuer to state a target offering amount and a deadline to reach the target offering amount. It requires that the Securities and Exchange Commission is provided a notice upon completion of the offering, which shall include the aggregate offering amount and the number of purchasers. Clarifies the disqualification provision to ensure that both issuers and intermediaries, as well as their predecessors, affiliates, officers, directors, or persons fulfilling similar roles, are disqualified from the exemption established in this bill should they have a history of committing securities fraud. 3:45:23 P.M. - H.R. 2930 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2930. 3:44:10 P.M. - H.R. 2930 The Speaker designated the Honorable Charles F. Bass to act as Chairman of the Committee. 3:44:09 P.M. - H.R. 2930 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 453 and Rule XVIII. 3:43:57 P.M. - H.R. 2930 Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order. 3:43:52 P.M. - H.R. 2930 Considered under the provisions of rule H. Res. 453. H.R. 2930 — "To amend the securities laws to provide for registration exemptions for certain crowdfunded securities, and for other purposes." 3:43:10 P.M. - H.R. 2940 POSTPONED PROCEEDINGS - At the conclusion of debate on the Miller (NC) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Miller (NC) demanded a recored vote and the Chair postponed further proceedings on the amendment under clause 8(a)(1)(A) of rule XX. 3:36:17 P.M. - H.R. 2940 DEBATE - Pursuant to the provisions of H. Res. 453, the House proceeded with 10 minutes of debate on the Miller (NC) Part B amendment. 3:36:05 P.M. - H.R. 2940 An amendment, offered by Mr. Miller (NC), printed in Part B of House Report 112-265 to require disclosure of bonus compensation structures and "golden parachute" arrangements in advertising materials associated with an exempted offering. 2:56:42 P.M. - H.R. 2940 DEBATE - The House proceeded with one hour of debate on H.R. 2940. 2:55:44 P.M. - H.R. 2940 Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order. 2:55:39 P.M. - H.R. 2940 Considered under the provisions of rule H. Res. 453. H.R. 2940 — "To direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D." 2:52:11 P.M. - H.R. 2112 The Speaker appointed conferees: Rogers (KY), Young (FL), Lewis (CA), Wolf, Kingston, Latham, Aderholt, Emerson, Culberson, Carter, Bonner, LaTourette, Dicks, DeLauro, Olver, Pastor (AZ), Price (NC), Farr, Fattah, and Schiff. 2:51:45 P.M. - H.R. 2112 Motion to reconsider laid on the table Agreed to without objection. 2:51:44 P.M. - H.R. 2112 On motion that the House instruct conferees Agreed to by the Yeas and Nays: 265 - 160 (Roll no. 822). 2:43:00 P.M. - UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question on adoption of the Motion to Instruct Conferees on H.R. 2112, which had been debated earlier and on which further proceedings had been postponed. 2:42:59 P.M. - H. Res. 453 Motion to reconsider laid on the table Agreed to without objection. 2:42:51 P.M. - H. Res. 453 On agreeing to the resolution Agreed to by voice vote. 2:42:50 P.M. - H. Res. 453 On ordering the previous question Agreed to by the Yeas and Nays: 241 - 184 (Roll no. 821). 1:15:38 P.M. - H. Res. 453 DEBATE - The House proceeded with one hour of debate on H. Res. 453. 1:11:41 P.M. - H. Res. 453 Considered as privileged matter. H. Res. 453 — "Providing for consideration of the bill (H.R. 2930) to amend the securities laws to provide for registration exemptions for certain crowdfunded securities, and for other purposes, and providing for consideration of the bill (H.R. 2940) to direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D." 1:09:06 P.M. - H.R. 2112 POSTPONED PROCEEDINGS - At the conclusion of debate on the Dicks motion to instruct conferees on H.R. 2112, the Chair put the question on the motion and by voice vote, announced that the ayes had prevailed. Mr. Dicks demanded the yeas and nays and pursuant to clause 8 of rule 20, the Chair postponed further proceedings on the motion to instruct conferees until a time to be announced. 1:08:25 P.M. - H.R. 2112 The previous question was ordered without objection. 12:41:32 P.M. - H.R. 2112 The House proceeded with one hour of debate on the Dicks motion to instruct conferees on H.R. 2112. The instructions contained in the motion seek to require the managers on the part of the House to insist on (1) the highest level of funding for the "Federal Highway Administration-Emergency Relief Program" account for activities consistent with the definition of "disaster relief" included in the Budget Control Act of 2011, and (2) the highest level of funding for the Community Oriented Policing Services (COPS) programs. 12:41:20 P.M. - H.R. 2112 Mr. Dicks moved that the House instruct conferees. 12:39:44 P.M. - H.R. 2112 On motion that the House disagree to the Senate amendments, and request a conference Agreed to without objection. 12:39:43 P.M. - H.R. 2112 Mr. Rogers (KY) asked unanimous consent that the House disagree to the Senate amendments, and request a conference. 12:38:41 P.M. - The House received a message from the Clerk. The House received a message from the Clerk. Pursuant to the permission granted in Clause 2(h) of Rule II of the Rules of the U.S. House of Representatives, the Clerk notified the House that she had received a message from the Secretary of the Senate on November 3, 2011 at 9:36 a.m. stating that the Senate had passed: S. 271, S. 278, S. 535, S. 683, S. 684, S. 808, S. 897, and S. 997. 12:02:06 P.M. - ONE MINUTE SPEECHES - The House proceeded with one minute speeches which by direction of the Chair, would be limited to 15 per side of the aisle. 12:01:43 P.M. - PLEDGE OF ALLEGIANCE - The Chair designated Mr. Pitts to lead the Members in reciting the Pledge of Allegiance to the Flag. 12:01:37 P.M. - The Speaker announced approval of the Journal. Pursuant to clause 1, rule I, the Journal stands approved. 12:01:02 P.M. - Today's prayer was offered by the House Chaplain, Rev. Patrick J. Conroy. 12:00:00 P.M. - The House convened, returning from a recess continuing the legislative day of November 3. 11:31:57 A.M. - The Speaker announced that the House do now recess. The next meeting is scheduled for 12:00 P.M. today. 10:01:30 A.M. - MORNING-HOUR DEBATE - The House proceeded with Morning-Hour Debate. At the conclusion of Morning-Hour, the House will recess until 12:00 p.m. for the start of legislative business. 10:01:02 A.M. - The Speaker designated the Honorable Michael G. Fitzpatrick to act as Speaker pro tempore for today. 10:00:21 A.M. - The House convened, starting a new legislative day.