[Congressional Record Volume 148, Number 94 (Friday, July 12, 2002)]
[Daily Digest]
[Pages D745-D746]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                                              Friday, July 12, 2002

[[Page D745]]

                              Daily Digest

                                 Senate


Chamber Action
Routine Proceedings, pages S6683-S6728
Measures Introduced: Two bills and one resolution were introduced, as 
follows: S. 2726-2727, and S. Res. 303.
  Page S6707
Measures Passed:
  Global Access to HIV/AIDS Prevention: Committee on Foreign Relations 
was discharged from further consideration of H.R. 2069, to amend the 
Foreign Assistance Act of 1961 to increase assistance for foreign 
countries seriously affected by HIV/AIDS, tuberculosis, and malaria; to 
amend the Public Health Service Act with respect to the authority of 
the Department of Health and Human Services to act internationally with 
respect to HIV/AIDS, tuberculosis, and malaria, and the bill was then 
passed, after agreeing to the following amendments proposed thereto: 
                                                         Pages S6700-02
  Reid (for Kerry) Amendment No. 4297, in the nature of a substitute. 
                                                             Page S6700
  Reid (for Kerry) Amendment No. 4298, to amend the title.
Page S6700
  Honoring U.S. Servicemen: Committee on Armed Services was discharged 
from further consideration of H. Con. Res. 161, honoring the 19 United 
States servicemen who died in the terrorist bombing of the Khobar 
Towers military housing compound in Dhahran, Saudi Arabia, on June 25, 
1996, and the resolution was then agreed to.
  Page S6727
  Terrorist Response Commendation: Committee on Armed Services was 
discharged from further consideration of H. Con. Res. 378, commending 
the District of Columbia National Guard, the National Guard Bureau, and 
the entire Department of Defense for the assistance provided to the 
United States Capitol Police and the entire Congressional community in 
response to the terrorist and anthrax attacks of September and October 
2001, and the resolution was then agreed to.
  Page S6727
Accounting Reform Act: Senate continued consideration of S. 2673, to 
improve quality and transparency in financial reporting and independent 
audits and accounting services for public companies, to create a Public 
Company Accounting Oversight Board, to enhance the standard setting 
process for accounting practices, to strengthen the independence of 
firms that audit public companies, to increase corporate responsibility 
and the usefulness of corporate financial disclosure, to protect the 
objectivity and independence of securities analysts, to improve 
Securities and Exchange Commission resources and oversight, taking 
action on the following amendments proposed thereto: 
                                            Pages S6683-85, S6687-S6700
Adopted:
  Dorgan/Graham Modified Amendment No. 4215, to clarify that the 
requirement that certain officers certify financial reports applies to 
domestic and foreign issuers.
Pages S6688-89
  Schumer Amendment No. 4295, to enhance conflict of interest 
provisions by prohibiting personal loans by issuers to chief officers 
of the issuer.
Pages S6689-90
  Schumer Amendment No. 4296, to require a study of the accounting 
treatment of special purpose entities.
Pages S6690-91
Pending:
  Edwards Modified Amendment No. 4187, to address rules of professional 
responsibility for attorneys.
Page S6683
  Reid (for Carnahan) Amendment No. 4286, to require timely and public 
disclosure of transactions involving management and principal 
stockholders.
Pages S6687-88
During consideration of this measure today, Senate also took the 
    following actions:
  By 91 yeas to 2 nays (Vote No. 173), three-fifths of those Senators 
duly chosen and sworn, having voted in the affirmative, Senate agreed 
to the motion to close further debate on the bill.
Page S6685
  Subsequently, the following motion to recommit was ruled out of order 
when cloture was invoked.
  McCain Motion to Recommit the bill to the Committee on Banking, 
Housing, and Urban Affairs with instructions to report back forthwith 
with Amendment No. 4270, to require publicly traded companies to record 
and treat stock options as expenses when granted for purposes of their 
income statements.
Page S6683

[[Page D746]]


  Subsequently, the following amendments fell when McCain Motion to 
Recommit (listed above) was ruled out of order:
  Reid (for Edwards) Amendment No. 4271 (to the instructions of the 
motion to recommit the bill to the Committee on Banking, Housing, and 
Urban Affairs), to address rules of professional responsibility for 
attorneys.
Page S6683
  Reid (for Levin) Amendment No. 4272 (to Amendment No. 4271), to 
address procedures for banning certain individuals from serving as 
officers or directors of publicly traded companies, civil money 
penalties, obtaining financial records, broadened enforcement 
authority, and forfeiture of bonuses and profits.
Page S6683
  The Chair sustained a point of order that Daschle (for Levin) 
Amendment No. 4269 (to Amendment No. 4187), to address procedures for 
banning certain individuals from serving as officers or directors of 
publicly traded companies, civil money penalties, obtaining financial 
records, broadened enforcement authority, and forfeiture of bonuses and 
profits, is not germane post-cloture, and the amendment thus fell. 
                                                     Pages S6683, S6687
  A unanimous-consent agreement was reached providing that Senator 
Levin be recognized at 1 p.m., on Monday, July 15, 2002.
Page S6702
  A unanimous-consent-time agreement was reached providing for further 
consideration of the bill at 1 p.m., on Monday, July 15, 2002, and that 
there be 5 hours remaining on the bill post cloture.
Page S6727
Andean Trade Promotion and Drug Eradication Act: Senate disagreed to 
the amendment of the House and agreed to the House request for a 
conference thereon, and the Chair was authorized to appoint the 
following conferees on the part of the Senate: Senators Baucus, 
Rockefeller, Breaux, Grassley, and Hatch.
  Page S6700
Messages From the President: Senate received the following message from 
the President of the United States:
  Transmitting, pursuant to law, the District of Columbia's Fiscal Year 
2003 Budget Request Act; to the Committee on Governmental Affairs. (PM-
102)
Page S6707
Messages From the House:
  Page S6707
Measures Referred:
  Page S6707
Additional Cosponsors:
  Pages S6707-08
Statements on Introduced Bills/Resolutions:
  Pages S6708-11
Additional Statements:
  Pages S6705-07
Amendments Submitted:
  Pages S6711-27
Notices of Hearings/Meetings:
  Page S6727
Record Votes: One record vote was taken today. (Total--173) 
                                                             Page S6685
Adjournment: Senate met at 9:15 a.m., and adjourned at 12:53 p.m., 
until 12 noon, on Monday, July 15, 2002. (For Senate's program, see the 
remarks of the Acting Majority Leader in today's Record on page S6727).