[Congressional Record (Bound Edition), Volume 155 (2009), Part 3]
[House]
[Pages 3511-3514]
[From the U.S. Government Publishing Office, www.gpo.gov]




PUBLICATION OF THE RULES OF THE COMMITTEE ON FINANCIAL SERVICES, 111TH 
                                CONGRESS

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Massachusetts (Mr. Frank) is recognized for 5 minutes.
  Mr. FRANK of Massachusetts. Madam Speaker, pursuant to clause 2 of 
rule XI of the Rules of the House of Representatives, the Committee on 
Financial Services in open session on January 27, 2009, adopted the 
following rules by voice vote, a quorum being present:

                       RULES OF THE COMMITTEE ON

                           FINANCIAL SERVICES

                     U.S. House of Representatives

                             111th Congress

                             First Session

                                 Rule 1

                           General Provisions

       (a) The rules of the House are the rules of the Committee 
     on Financial Services (hereinafter in these rules referred to 
     as the ``Committee'') and its subcommittees so far as 
     applicable, except that a motion to recess from day to day, 
     and a motion to dispense with the first reading (in full) of 
     a bill or resolution, if printed copies are available, are 
     privileged motions in the Committee and shall be considered 
     without debate. A proposed investigative or oversight report 
     shall be considered as read if it has been available to the 
     members of the Committee for at least 24 hours (excluding 
     Saturdays, Sundays, or legal holidays except when the House 
     is in session on such day).
       (b) Each subcommittee is a part of the Committee, and is 
     subject to the authority and direction of the Committee and 
     to its rules so far as applicable.
       (c) The provisions of clause 2 of rule XI of the Rules of 
     the House are incorporated by reference as the rules of the 
     Committee to the extent applicable.

                                 Rule 2

                                Meetings

                          Calling of Meetings

       (a)(1) The Committee shall regularly meet on the first 
     Tuesday of each month when the House is in session.
       (2) A regular meeting of the Committee may be dispensed 
     with if, in the judgment of the Chairman of the Committee 
     (hereinafter in these rules referred to as the ``Chair''), 
     there is no need for the meeting.
       (3) Additional regular meetings and hearings of the 
     Committee may be called by the Chair, in accordance with 
     clause 2(g)(3) of rule XI of the rules of the House.
       (4) Special meetings shall be called and convened by the 
     Chair as provided in clause 2(c)(2) of rule XI of the Rules 
     of the House.

                          Notice for Meetings

       (b)(1) The Chair shall notify each member of the Committee 
     of the agenda of each regular meeting of the Committee at 
     least two calendar days before the time of the meeting.
       (2) The Chair shall provide to each member of the 
     Committee, at least two calendar days before the time of each 
     regular meeting for each measure or matter on the agenda a 
     copy of--
       (A) the measure or materials relating to the matter in 
     question; and
       (B) an explanation of the measure or matter to be 
     considered, which, in the case of an explanation of a bill, 
     resolution, or similar measure, shall include a summary of 
     the major provisions of the legislation, an explanation of 
     the relationship of the measure to present law, and a summary 
     of the need for the legislation.
       (3) The agenda and materials required under this subsection 
     shall be provided to each member of the Committee at least 
     three calendar days before the time of the meeting where the 
     measure or matter to be considered was not approved for full 
     Committee consideration by a subcommittee of jurisdiction.
       (4) The provisions of this subsection may be waived by a 
     two-thirds vote of the Committee, or by the Chair with the 
     concurrence of the ranking minority member.

                                 Rule 3

                     Meeting and Hearing Procedures

                               In General

       (a)(1) Meetings and hearings of the Committee shall be 
     called to order and presided over by the Chair or, in the 
     Chair's absence, by the member designated by the Chair as the 
     Vice Chair of the Committee, or by the ranking majority 
     member of the Committee present as Acting Chair.
       (2) Meetings and hearings of the committee shall be open to 
     the public unless closed in accordance with clause 2(g) of 
     rule XI of the Rules of the House.
       (3) Any meeting or hearing of the Committee that is open to 
     the public shall be open to coverage by television broadcast, 
     radio broadcast, and still photography in accordance with the 
     provisions of clause 4 of rule XI of the Rules of the House 
     (which are incorporated by reference as part of these rules). 
     Operation and use of any Committee operated broadcast system 
     shall be fair and nonpartisan and in accordance with clause 
     4(b) of rule XI and all other applicable rules of the 
     Committee and the House.
       (4) Opening statements by members at the beginning of any 
     hearing or meeting of the Committee shall be limited to 5 
     minutes each for the Chair or ranking minority member, or 
     their respective designee, and 3 minutes each for all other 
     members.
       (5) No person, other than a Member of Congress, Committee 
     staff, or an employee of a Member when that Member has an 
     amendment under consideration, may stand in or be seated at 
     the rostrum area of the Committee rooms unless the Chair 
     determines otherwise.

                                 Quorum

       (b)(1) For the purpose of taking testimony and receiving 
     evidence, two members of the Committee shall constitute a 
     quorum.
       (2) A majority of the members of the Committee shall 
     constitute a quorum for the purposes of reporting any measure 
     or matter, of authorizing a subpoena, of closing a meeting or 
     hearing pursuant to clause 2(g) of rule XI of the rules of 
     the House (except as provided in clause 2(g)(2)(A) and (B)) 
     or of releasing executive session material pursuant to clause 
     2(k)(7) of rule XI of the rules of the House.
       (3) For the purpose of taking any action other than those 
     specified in paragraph (2) one-third of the members of the 
     Committee shall constitute a quorum.

                                 Voting

       (c)(1) No vote may be conducted on any measure or matter 
     pending before the Committee unless the requisite number of 
     members of the Committee is actually present for such 
     purpose.
       (2) A record vote of the Committee shall be provided on any 
     question before the Committee upon the request of one-fifth 
     of the members present.
       (3) No vote by any member of the Committee on any measure 
     or matter may be cast by proxy.
       (4) In addition to any other requirement of these rules or 
     the Rules of the House, the Chair shall make the record of 
     the votes on any question on which a record vote is demanded 
     available on the Committee's Web site not later than 2 
     business days after such vote is taken. Such record shall 
     include a description of the amendment, motion, order, or 
     other proposition, the name of each member voting for and 
     each member voting against such amendment, motion, order, or 
     proposition, and the names of those members of the committee 
     present but not voting.
       (5) In accordance with clause 2(e)(1)(B) of rule XI, a 
     record of the vote of each member of the Committee on each 
     record vote on any measure or matter before the Committee 
     shall be available for public inspection at the offices of 
     the Committee, and, with respect to any record vote on any 
     motion to report or on any amendment, shall be included in 
     the report of the Committee showing the total number of votes 
     cast for and against and the names of those members voting 
     for and against.
       (6) Postponed record votes.--(A) Subject to subparagraph 
     (B), the Chairman may postpone further proceedings when a 
     record vote is ordered on the question of approving any 
     measure or matter or adopting an amendment. The Chairman may 
     resume proceedings on a postponed request at any time, but no 
     later than the next meeting day.
       (B) In exercising postponement authority under subparagraph 
     (A), the Chairman shall take all reasonable steps necessary 
     to notify members on the resumption of proceedings on any 
     postponed record vote.
       (C) When proceedings resume on a postponed question, 
     notwithstanding any intervening order for the previous 
     question, an underlying proposition shall remain subject to 
     further debate or amendment to the same extent as when the 
     question was postponed.

                           Hearing Procedures

       (d)(1)(A) The Chair shall make public announcement of the 
     date, place, and subject matter of any committee hearing at 
     least one week before the commencement of the hearing, unless 
     the Chair, with the concurrence of the ranking minority 
     member, or the Committee by majority vote with a quorum 
     present for the transaction of business, determines there is 
     good cause to begin the hearing sooner, in which case the 
     Chair shall make the announcement at the earliest possible 
     date.
       (B) Not less than three days before the commencement of a 
     hearing announced under this paragraph, the Chair shall 
     provide to the members of the Committee a concise summary of 
     the subject of the hearing, or, in the case of a hearing on a 
     measure or matter, a copy of the measure or materials 
     relating to the matter in question and a concise explanation 
     of the measure or matter to be considered. At the same time 
     the Chair provides the information required by the preceding 
     sentence, the Chair shall also provide to the members of the 
     Committee a final list consisting of the names of each 
     witness who

[[Page 3512]]

     is to appear before the Committee at that hearing. The 
     witness list may not be modified within 24 hours of a 
     hearing, unless the Chair, with the concurrence of the 
     ranking minority member, determines there is good cause for 
     such modification.
       (2) To the greatest extent practicable--
       (A) each witness who is to appear before the Committee 
     shall file with the Committee two business days in advance of 
     the appearance sufficient copies (including a copy in 
     electronic form), as determined by the Chair, of a written 
     statement of proposed testimony and shall limit the oral 
     presentation to the Committee to brief summary thereof; and
       (B) each witness appearing in a non-governmental capacity 
     shall include with the written statement of proposed 
     testimony a curriculum vitae and a disclosure of the amount 
     and source (by agency and program) of any Federal grant (or 
     subgrant thereof) or contract (or subcontract thereof) 
     received during the current fiscal year or either of the two 
     preceding fiscal years.
       (3) The requirements of paragraph (2)(A) may be modified or 
     waived by the Chair when the Chair determines it to be in the 
     best interest of the Committee.
       (4) The five-minute rule shall be observed in the 
     interrogation of witnesses before the Committee until each 
     member of the Committee has had an opportunity to question 
     the witnesses. No member shall be recognized for a second 
     period of 5 minutes to interrogate witnesses until each 
     member of the Committee present has been recognized once for 
     that purpose.
       (5) Whenever any hearing is conducted by the Committee on 
     any measure or matter, the minority party members of the 
     Committee shall be entitled, upon the request of a majority 
     of them before the completion of the hearing, to call 
     witnesses with respect to that measure or matter during at 
     least one day of hearing thereon.

                          Subpoenas and Oaths

       (e)(1) Pursuant to clause 2(m) of rule XI of the Rules of 
     the House, a subpoena may be authorized and issued by the 
     Committee or a subcommittee in the conduct of any 
     investigation or series of investigations or activities, only 
     when authorized by a majority of the members voting, a 
     majority being present, or pursuant to paragraph (2).
       (2) The Chair, with the concurrence of the ranking minority 
     member, may authorize and issue subpoenas under such clause 
     during any period for which the House has adjourned for a 
     period in excess of 3 days when, in the opinion of the Chair, 
     authorization and issuance of the subpoena is necessary to 
     obtain the material or testimony set forth in the subpoena. 
     The Chair shall report to the members of the Committee on the 
     authorization and issuance of a subpoena during the recess 
     period as soon as practicable, but in no event later than one 
     week after service of such subpoena.
       (3) Authorized subpoenas shall be signed by the Chair or by 
     any member designated by the Committee, and may be served by 
     any person designated by the Chair or such member.
       (4) The Chair, or any member of the Committee designated by 
     the Chair, may administer oaths to witnesses before the 
     Committee.

                           Special Procedures

       (f)(1)(A) Commemorative medals and coins.--It shall not be 
     in order for the Subcommittee on Domestic Monetary Policy and 
     Technology to hold a hearing on any commemorative medal or 
     commemorative coin legislation unless the legislation is 
     cosponsored by at least two-thirds of the members of the 
     House.
       (B) It shall not be in order for the subcommittee to 
     approve a bill or measure authorizing commemorative coins for 
     consideration by the full Committee which does not conform 
     with the mintage restrictions established by section 5112 of 
     title 31, United States Code.
       (C) In considering legislation authorizing Congressional 
     gold medals, the subcommittee shall apply the following 
     standards--
       (i) the recipient shall be a natural person;
       (ii) the recipient shall have performed an achievement that 
     has an impact on American history and culture that is likely 
     to be recognized as a major achievement in the recipient's 
     field long after the achievement;
       (iii) the recipient shall not have received a medal 
     previously for the same or substantially the same 
     achievement;
       (iv) the recipient shall be living or, if deceased, shall 
     have been deceased for not less than 5 years and not more 
     than 25 years;
       (v) the achievements were performed in the recipient's 
     field of endeavor, and represent either a lifetime of 
     continuous superior achievements or a single achievement so 
     significant that the recipient is recognized and acclaimed by 
     others in the same field, as evidenced by the recipient 
     having received the highest honors in the field.
       (2) Testimony of certain officials.--
       (A) Notwithstanding subsection (a)(4), when the Chair 
     announces a hearing of the Committee for the purpose of 
     receiving--
       (i) testimony from the Chairman of the Federal Reserve 
     Board pursuant to section 2B of the Federal Reserve Act (12 
     U.S.C. 221 et seq.), or
       (ii) testimony from the Chairman of the Federal Reserve 
     Board or a member of the President's cabinet at the 
     invitation of the Chair, the Chair may, in consultation with 
     the ranking minority member, limit the number and duration of 
     opening statements to be delivered at such hearing. The 
     limitation shall be included in the announcement made 
     pursuant to subsection (d)(1)(A), and shall provide that the 
     opening statements of all members of the Committee shall be 
     made a part of the hearing record.
       (B) Notwithstanding subsection (a)(4), at any hearing of 
     the Committee for the purpose of receiving testimony (other 
     than testimony described in clause (i) or (ii) of 
     subparagraph (A)), the Chair may, after consultation with the 
     ranking minority member, limit the duration of opening 
     statements to ten minutes, to be divided between the Chair 
     and Chair of the pertinent subcommittee, or the Chair's 
     designees, and ten minutes, to be controlled by the ranking 
     minority member, or the ranking minority member's designees. 
     Following such time, the duration for opening statements may 
     be extended by agreement between the Chairman and ranking 
     minority member, to be divided at the discretion of the Chair 
     or ranking minority member. The Chair shall provide that the 
     opening statements for all members of the Committee shall be 
     made a part of the hearing record.
       (C) At any hearing of a subcommittee, the Chair of the 
     subcommittee may, in consultation with the ranking minority 
     member of the subcommittee, limit the duration of opening 
     statements to ten minutes, to be divided between the majority 
     and minority. Following such time, the duration for opening 
     statements may be extended by either the Chair of the 
     subcommittee or ranking minority member of the subcommittee 
     for an additional ten minutes each, to be divided at the 
     discretion of the Chair of the subcommittee or ranking 
     minority member of the subcommittee. The Chair of the 
     subcommittee shall ensure that opening statements for all 
     members be made part of the hearing record.
       (D) If the Chair and ranking minority member acting jointly 
     determine that extraordinary circumstances exist 
     necessitating allowing members to make opening statements, 
     subparagraphs (B) or (C), as the case may be, shall not apply 
     to such hearing.

                                 Rule 4

              Procedures for Reporting Measures or Matters

       (a) No measure or matter shall be reported from the 
     Committee unless a majority of the Committee is actually 
     present.
       (b) The Chair of the Committee shall report or cause to be 
     reported promptly to the House any measure approved by the 
     Committee and take necessary steps to bring a matter to a 
     vote.
       (c) The report of the Committee on a measure which has been 
     approved by the Committee shall be filed within seven 
     calendar days (exclusive of days on which the House is not in 
     session) after the day on which there has been filed with the 
     clerk of the Committee a written request, signed by a 
     majority of the members of the Committee, for the reporting 
     of that measure pursuant to the provisions of clause 2(b)(2) 
     of rule XIII of the Rules of the House.
       (d) All reports printed by the Committee pursuant to a 
     legislative study or investigation and not approved by a 
     majority vote of the Committee shall contain the following 
     disclaimer on the cover of such report: ``This report has not 
     been officially adopted by the Committee on Financial 
     Services and may not necessarily reflect the views of its 
     Members.''
       (e) The Chair is directed to offer a motion under clause 1 
     of rule XXII of the Rules of the House whenever the Chair 
     considers it appropriate.

                                 Rule 5

                             Subcommittees

          Establishment and Responsibilities of Subcommittees

       (a)(1) There shall be 6 subcommittees of the Committee as 
     follows:
       (A) Subcommittee on capital markets, insurance, and 
     government sponsored enterprises.--The jurisdiction of the 
     Subcommittee on Capital Markets, Insurance, and Government 
     Sponsored Enterprises includes--
       (i) securities, exchanges, and finance;
       (ii) capital markets activities, including business capital 
     formation and venture capital;
       (iii) activities involving futures, forwards, options, and 
     other types of derivative instruments;
       (iv) the Securities and Exchange Commission;
       (v) secondary market organizations for home mortgages, 
     including the Federal National Mortgage Association, the 
     Federal Home Loan Mortgage Corporation, and the Federal 
     Agricultural Mortgage Corporation;
       (vi) the Office of Federal Housing Enterprise Oversight;
       (vii) the Federal Home Loan Banks;
       (viii) the Federal Housing Finance Board;
       (ix) terrorism risk insurance; and
       (x) insurance generally.
       (B) Subcommittee on domestic monetary policy and 
     technology.--The jurisdiction of

[[Page 3513]]

     the Subcommittee on Domestic Monetary Policy and Technology 
     includes--
       (i) financial aid to all sectors and elements within the 
     economy;
       (ii) economic growth and stabilization;
       (iii) defense production matters as contained in the 
     Defense Production Act of 1950, as amended;
       (iv) domestic monetary policy, and agencies which directly 
     or indirectly affect domestic monetary policy, including the 
     effect of such policy and other financial actions on interest 
     rates, the allocation of credit, and the structure and 
     functioning of domestic financial institutions;
       (v) coins, coinage, currency, and medals, including 
     commemorative coins and medals, proof and mint sets and other 
     special coins, the Coinage Act of 1965, gold and silver, 
     including the coinage thereof (but not the par value of 
     gold), gold medals, counterfeiting, currency denominations 
     and design, the distribution of coins, and the operations of 
     the Bureau of the Mint and the Bureau of Engraving and 
     Printing; and
       (vi) development of new or alternative forms of currency.
       (C) Subcommittee on financial institutions and consumer 
     credit.--The jurisdiction of the Subcommittee on Financial 
     Institutions and Consumer Credit includes--
       (i) all agencies, including the Office of the Comptroller 
     of the Currency, the Federal Deposit Insurance Corporation, 
     the Board of Governors of the Federal Reserve System and the 
     Federal Reserve System, the Office of Thrift Supervision, and 
     the National Credit Union Administration, which directly or 
     indirectly exercise supervisory or regulatory authority in 
     connection with, or provide deposit insurance for, financial 
     institutions, and the establishment of interest rate ceilings 
     on deposits;
       (ii) the chartering, branching, merger, acquisition, 
     consolidation, or conversion of financial institutions;
       (iii) consumer credit, including the provision of consumer 
     credit by insurance companies, and further including those 
     matters in the Consumer Credit Protection Act dealing with 
     truth in lending, extortionate credit transactions, 
     restrictions on garnishments, fair credit reporting and the 
     use of credit information by credit bureaus and credit 
     providers, equal credit opportunity, debt collection 
     practices, and electronic funds transfers;
       (iv) creditor remedies and debtor defenses, Federal aspects 
     of the Uniform Consumer Credit Code, credit and debit cards, 
     and the preemption of State usury laws;
       (v) consumer access to financial services, including the 
     Home Mortgage Disclosure Act and the Community Reinvestment 
     Act;
       (vi) the terms and rules of disclosure of financial 
     services, including the advertisement, promotion and pricing 
     of financial services, and availability of government check 
     cashing services;
       (vii) deposit insurance; and
       (viii) consumer access to savings accounts and checking 
     accounts in financial institutions, including lifeline 
     banking and other consumer accounts.
       (D) Subcommittee on housing and community opportunity.--The 
     jurisdiction of the Subcommittee on Housing and Community 
     Opportunity includes--
       (i) housing (except programs administered by the Department 
     of Veterans Affairs), including mortgage and loan insurance 
     pursuant to the National Housing Act; rural housing; housing 
     and homeless assistance programs; all activities of the 
     Government National Mortgage Association; private mortgage 
     insurance; housing construction and design and safety 
     standards; housing-related energy conservation; housing 
     research and demonstration programs; financial and technical 
     assistance for nonprofit housing sponsors; housing counseling 
     and technical assistance; regulation of the housing industry 
     (including landlord/tenant relations); and real estate 
     lending including regulation of settlement procedures;
       (ii) community development and community and neighborhood 
     planning, training and research; national urban growth 
     policies; urban/rural research and technologies; and 
     regulation of interstate land sales;
       (iii) government sponsored insurance programs, including 
     those offering protection against crime, fire, flood (and 
     related land use controls), earthquake and other natural 
     hazards, but not including terrorism risk insurance; and
       (iv) the qualifications for and designation of Empowerment 
     Zones and Enterprise Communities (other than matters relating 
     to tax benefits).
       (E) Subcommittee on international monetary policy and 
     trade.--The jurisdiction of the Subcommittee on International 
     Monetary Policy and Trade includes--
       (i) multilateral development lending institutions, 
     including activities of the National Advisory Council on 
     International Monetary and Financial Policies as related 
     thereto, and monetary and financial developments as they 
     relate to the activities and objectives of such institutions;
       (ii) international trade, including but not limited to the 
     activities of the Export-Import Bank;
       (iii) the International Monetary Fund, its permanent and 
     temporary agencies, and all matters related thereto; and
       (iv) international investment policies, both as they relate 
     to United States investments for trade purposes by citizens 
     of the United States and investments made by all foreign 
     entities in the United States.
       (F) Subcommittee on oversight and investigations.--The 
     jurisdiction of the Subcommittee on Oversight and 
     Investigations includes--
       (i) the oversight of all agencies, departments, programs, 
     and matters within the jurisdiction of the Committee, 
     including the development of recommendations with regard to 
     the necessity or desirability of enacting, changing, or 
     repealing any legislation within the jurisdiction of the 
     Committee, and for conducting investigations within such 
     jurisdiction; and
       (ii) research and analysis regarding matters within the 
     jurisdiction of the Committee, including the impact or 
     probable impact of tax policies affecting matters within the 
     jurisdiction of the Committee.
       (2) In addition, each such subcommittee shall have specific 
     responsibility for such other measures or matters as the 
     Chair refers to it.
       (3) Each subcommittee of the Committee shall review and 
     study, on a continuing basis, the application, 
     administration, execution, and effectiveness of those laws, 
     or parts of laws, the subject matter of which is within its 
     general responsibility.

           Referral of Measures and Matters to Subcommittees

       (b)(1) The Chair shall regularly refer to one or more 
     subcommittees such measures and matters as the Chair deems 
     appropriate given its jurisdiction and responsibilities. In 
     making such a referral, the Chair may designate a 
     subcommittee of primary jurisdiction and subcommittees of 
     additional or sequential jurisdiction.
       (2) All other measures or matters shall be subject to 
     consideration by the full Committee.
       (3) In referring any measure or matter to a subcommittee, 
     the Chair may specify a date by which the subcommittee shall 
     report thereon to the Committee.
       (4) The Committee by motion may discharge a subcommittee 
     from consideration of any measure or matter referred to a 
     subcommittee of the Committee.

                      Composition of Subcommittees

       (c)(1) Members shall be elected to each subcommittee and to 
     the positions of chair and ranking minority member thereof, 
     in accordance with the rules of the respective party 
     caucuses. The Chair of the Committee shall designate a member 
     of the majority party on each subcommittee as its vice chair.
       (2) The Chair and ranking minority member of the Committee 
     shall be ex officio members with voting privileges of each 
     subcommittee of which they are not assigned as members and 
     may be counted for purposes of establishing a quorum in such 
     subcommittees.
       (3) The subcommittees shall be comprised as follows:
       (A) The Subcommittee on Capital Markets, Insurance, and 
     Government Sponsored Enterprises shall be comprised of 50 
     members, 30 elected by the majority caucus and 20 elected by 
     the minority caucus.
       (B) The Subcommittee on Domestic Monetary Policy and 
     Technology shall be comprised of 17 members, 10 elected by 
     the majority caucus and 7 elected by the minority caucus.
       (C) The Subcommittee on Financial Institutions and Consumer 
     Credit shall be comprised of 45 members, 27 elected by the 
     majority caucus and 18 elected by the mi- nority caucus.
       (D) The Subcommittee on Housing and Community Opportunity 
     shall be comprised of 25 members, 15 elected by the majority 
     caucus and 10 elected by the minority caucus.
       (E) The Subcommittee on International Monetary Policy and 
     Trade shall be comprised of 15 members, 9 elected by the 
     majority caucus and 6 elected by the minority caucus.
       (F) The Subcommittee on Oversight and Investigations shall 
     be comprised of 15 members, 9 elected by the majority caucus 
     and 6 elected by the minority caucus.

                   Subcommittee Meetings and Hearings

       (d)(1) Each subcommittee of the Committee is authorized to 
     meet, hold hearings, receive testimony, mark up legislation, 
     and re- port to the full Committee on any measure or matter 
     referred to it, consistent with subsection (a).
       (2) No subcommittee of the Committee may meet or hold a 
     hearing at the same time as a meeting or hearing of the 
     Committee.
       (3) The chair of each subcommittee shall set hearing and 
     meeting dates only with the approval of the Chair with a view 
     toward assuring the availability of meeting rooms and 
     avoiding simultaneous scheduling of Committee and 
     subcommittee meetings or hearings.

                          Effect of a Vacancy

       (e) Any vacancy in the membership of a subcommittee shall 
     not affect the power of the remaining members to execute the 
     functions of the subcommittee as long as the required quorum 
     is present.

[[Page 3514]]



                                Records

       (f) Each subcommittee of the Committee shall provide the 
     full Committee with copies of such records of votes taken in 
     the sub- committee and such other records with respect to the 
     subcommittee as the Chair deems necessary for the Committee 
     to comply with all rules and regulations of the House.

                                 Rule 6

                                 Staff

                               In General

       (a)(1) Except as provided in paragraph (2), the 
     professional and other staff of the Committee shall be 
     appointed, and may be re- moved by the Chair, and shall work 
     under the general supervision and direction of the Chair.
       (2) All professional and other staff provided to the 
     minority party members of the Committee shall be appointed, 
     and may be removed, by the ranking minority member of the 
     Committee, and shall work under the general supervision and 
     direction of such member.
       (3) It is intended that the skills and experience of all 
     members of the Committee staff be available to all members of 
     the Committee.

                           Subcommittee Staff

       (b) From funds made available for the appointment of staff, 
     the Chair of the Committee shall, pursuant to clause 6(d) of 
     rule X of the Rules of the House, ensure that sufficient 
     staff is made available so that each subcommittee can carry 
     out its responsibilities under the rules of the Committee and 
     that the minority party is treated fairly in the appointment 
     of such staff.

                         Compensation of Staff

       (c)(1) Except as provided in paragraph (2), the Chair shall 
     fix the compensation of all professional and other staff of 
     the Committee.
       (2) The ranking minority member shall fix the compensation 
     of all professional and other staff provided to the minority 
     party members of the Committee.

                                 Rule 7

                           Budget and Travel

                                 Budget

       (a)(1) The Chair, in consultation with other members of the 
     Committee, shall prepare for each Congress a budget providing 
     amounts for staff, necessary travel, investigation, and other 
     expenses of the Committee and its subcommittees.
       (2) From the amount provided to the Committee in the 
     primary expense resolution adopted by the House of 
     Representatives, the Chair, after consultation with the 
     ranking minority member, shall designate an amount to be 
     under the direction of the ranking minority member for the 
     compensation of the minority staff, travel expenses of 
     minority members and staff, and minority office expenses. All 
     expenses of minority members and staff shall be paid for out 
     of the amount so set aside.

                                 Travel

       (b)(1) The Chair may authorize travel for any member and 
     any staff member of the Committee in connection with 
     activities or subject matters under the general jurisdiction 
     of the Committee. Before such authorization is granted, there 
     shall be submitted to the Chair in writing the following:
       (A) The purpose of the travel.
       (B) The dates during which the travel is to occur.
       (C) The names of the States or countries to be visited and 
     the length of time to be spent in each.
       (D) The names of members and staff of the Committee for 
     whom the authorization is sought.
       (2) Members and staff of the Committee shall make a written 
     report to the Chair on any travel they have conducted under 
     this subsection, including a description of their itinerary, 
     expenses, and activities, and of pertinent information gained 
     as a result of such travel.
       (3) Members and staff of the Committee performing 
     authorized travel on official business shall be governed by 
     applicable laws, resolutions, and regulations of the House 
     and of the Committee on House Administration.

                                 Rule 8

                        Committee Administration

                                Records

       (a)(1) There shall be a transcript made of each regular 
     meeting and hearing of the Committee, and the transcript may 
     be printed if the Chair decides it is appropriate or if a 
     majority of the members of the Committee requests such 
     printing. Any such transcripts shall be a substantially 
     verbatim account of remarks actually made during the 
     proceedings, subject only to technical, grammatical, and 
     typographical corrections authorized by the person making the 
     remarks. Nothing in this paragraph shall be construed to 
     require that all such transcripts be subject to correction 
     and publication.
       (2) The Committee shall keep a record of all actions of the 
     Committee and of its subcommittees. The record shall contain 
     all information required by clause 2(e)(1) of rule XI of the 
     Rules of the House and shall be available for public 
     inspection at reasonable times in the offices of the 
     Committee.
       (3) All Committee hearings, records, data, charts, and 
     files shall be kept separate and distinct from the 
     congressional office records of the Chair, shall be the 
     property of the House, and all Members of the House shall 
     have access thereto as provided in clause 2(e)(2) of rule XI 
     of the Rules of the House.
       (4) The records of the Committee at the National Archives 
     and Records Administration shall be made available for public 
     use in accordance with rule VII of the Rules of the House of 
     Representatives. The Chair shall notify the ranking minority 
     member of any decision, pursuant to clause 3(b)(3) or clause 
     4(b) of the rule, to withhold a record otherwise available, 
     and the matter shall be presented to the Committee for a 
     determination on written request of any member of the 
     Committee.

                 Committee Publications on the Internet

       (b) To the maximum extent feasible, the Committee shall 
     make its publications available in electronic form.

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