[Congressional Record Volume 158, Number 37 (Wednesday, March 7, 2012)]
[Daily Digest]
[Pages D204-D205]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





                        House of Representatives


Chamber Action
Public Bills and Resolutions Introduced: 15 public bills, H.R. 4150-
4164; and 5 resolutions, H. Con. Res. 107; and H. Res. 574-577, were 
introduced.                                              
  Pages H1272-73
Additional Cosponsors:                                   
  Pages H1273-74
Reports Filed: There were no reports filed today.
Speaker: Read a letter from the Speaker wherein he appointed 
Representative Webster to act as Speaker pro tempore for today. 
                                                             Page H1211
Recess: The House recessed at 11:09 a.m. and reconvened at 12 noon. 
                                                             Page H1218
Bureau of Reclamation Small Conduit Hydropower Development and Rural 
Jobs Act: The House passed H.R. 2842, to authorize all Bureau of 
Reclamation conduit facilities for hydropower development under Federal 
Reclamation law, by a yea-and-nay vote of 265 yeas to 154 nays, Roll 
No. 100. Consideration of the measure began yesterday, March 6th. 
                                                         Pages H1231-34
  Rejected the Garamendi motion to recommit the bill to the Committee 
on Natural Resources with instructions to report the same back to the 
House forthwith with an amendment, by a recorded vote of 182 ayes to 
237 noes, Roll No. 99.                                   
Pages H1232-34
Rejected:
  Napolitano amendment (No. 1 printed in the Congressional Record of 
March 5, 2012) that was debated on March 6th that sought to strike the 
exemption for small conduit hydropower development from the National 
Environmental Policy Act of 1969 (by a recorded vote of 168 ayes to 253 
noes, Roll No. 98).                                          
Page H1231
  H. Res. 570, the rule providing for consideration of the bill, was 
agreed to yesterday, March 6th.
Reopening American Capital Markets to Emerging Growth Companies Act: 
The House began consideration of H.R. 3606, to increase American job 
creation and economic growth by improving access to the public capital 
markets for emerging growth companies. Further proceedings were 
postponed.                                               
  Pages H1236-64
  During the course of debate, exception was taken to certain words 
used and a request was made to have words taken down. The words were 
reported to the Committee of the Whole and the Chair subsequently 
announced that the Committee would rise. The Committee of the Whole 
rose and after review, the Chair ruled that the remarks constituted a 
personality directed toward an identifiable Member and announced that, 
without objection, said words would be stricken from the record. 
Subsequently, the Chair announced that the Committee of the Whole would 
resume its sitting.                                          
Page H1240
  Pursuant to the rule, the amendment in the nature of a substitute 
consisting of the text of the Rules Committee Print 112-17 shall be 
considered as adopted in the House and in the Committee of the Whole, 
in lieu of the amendment in the nature of a substitute recommended by 
the Committee on Financial Services now printed in the bill. The bill, 
as amended, shall be considered as the original bill for the purpose of 
further amendment under the five-minute rule and shall be considered as 
read.                                                        
Page H1245
  Agreed to:
  Fincher manager's amendment (No. 1 printed in H. Rept. 112-409) that 
makes technical changes to the underlying bill;              
Page H1249
  McIntyre amendment (No. 2 printed in H. Rept. 112-409) that adjusts 
the Emerging Growth Company definition for inflation, resulting in 
providing more flexibility for businesses;               
Pages H1249-50
  Jackson Lee (TX) amendment (No. 4 printed in H. Rept. 112-409) that 
adds a requirement that a company not be considered an ``emerging 
growth

[[Page D205]]

company'' if it has issued more than $1 billion in non-convertible debt 
over the prior three years; and                          
Pages H1251-52
  McCarthy (CA) amendment (No. 10 printed in H. Rept. 112-409) that 
clarifies that general advertising under this provision should only 
apply to Regulation D rule 506 offerings, allow for general 
solicitation in the secondary sale of these securities so long as only 
qualified institutional buyers purchase the securities, and provide 
consistency in interpretation that general advertising should not cause 
these offerings to be considered public offerings.       
Pages H1260-61
Rejected:
  Jackson Lee (TX) amendment (No. 7 printed in H. Rept. 112-409) that 
sought to strike language that allows an emerging growth company or its 
underwriter to communicate with ``institutions that are accredited 
investors'';                                             
Pages H1257-59
  Himes amendment (No. 3 printed in H. Rept. 112-409) that sought to 
lower the gross annual revenue cap from $1,000,000,000 to $750,000,000 
for emerging growth companies to remain eligible for the regulatory on-
ramp and strike the public float requirement for the on-ramp (by a 
recorded vote of 164 ayes to 245 noes, Roll No. 103); 
                                               Pages H1250-51, H1261-62
  Ellison amendment (No. 5 printed in H. Rept. 112-409) that sought to 
require Emerging Growth Companies to fully comply with say-on-pay and 
golden parachute shareholder votes (by a recorded vote of 169 ayes to 
244 noes, Roll No. 104);                       
Pages H1252-55, H1262-63
  Waters amendment (No. 6 printed in H. Rept. 112-409) that sought to 
provide that if a broker or dealer is underwriting an initial public 
offering (IPO) for an emerging growth company (EGC) and providing 
research to the public about such IPO, those research reports need to 
be filed with the SEC, and the broker or dealer shall be held to 
stricter liability for their comments. Would also have provided that if 
EGCs are communicating, either orally or in writing, with potential 
investors before or following an offering, they need to file those 
communications with the SEC (by a recorded vote of 161 ayes to 259 
noes, Roll No. 105); and                          
Pages H1255-57, H1263
  Connolly (VA) amendment (No. 9 printed in H. Rept. 112-409) that 
sought to require the Securities and Exchange Commission to perform a 
study, in consultation with the Commodities Futures Trading Commission, 
of the effects on emerging growth companies of financial speculation on 
domestic oil and gasoline prices and to forward the results of that 
study to Congress (by a recorded vote of 185 ayes to 236 noes, Roll No. 
106).                                          
Pages H1259-60, H1263-64
Withdrawn:
  Jackson Lee (TX) amendment (No. 8 printed in H. Rept. 112-409) that 
was offered and subsequently withdrawn that would have established new 
filing fee for Reg S-K Forms to discourage frivolous filings. 
                                                             Page H1259
  H. Res. 572, the rule providing for consideration of the bill, was 
agreed to by a recorded vote of 252 ayes to 166 noes, Roll No. 102, 
after the previous question was ordered by a yea-and-nay vote of 244 
yeas to 177 noes, Roll No. 101.                
Pages H1222-31, H1234-36
Meeting Hour: Agreed that when the House adjourns today, it adjourn to 
meet at 10 a.m. tomorrow.                                    
  Page H1264
Senate Messages: Messages received from the Senate today appear on 
pages H1219 and H1231.
Senate Referral: S. 1886 was referred to the Committee on the 
Judiciary.                                                   
  Page H1271
Quorum Calls--Votes: Two yea-and-nay votes and seven recorded votes 
developed during the proceedings of today and appear on pages H1231-32, 
H1233-34, H1234, H1234-35, H1235-36, H1261-62, H1262, H1263, and H1263-
64. There were no quorum calls.
Adjournment: The House met at 10 a.m. and adjourned at 7:42 p.m.