[House Report 110-152]
[From the U.S. Government Publishing Office]



110th Congress                                                   Report
                        HOUSE OF REPRESENTATIVES
 1st Session                                                    110-152

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   PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 1427) TO REFORM THE 
REGULATION OF CERTAIN HOUSING-RELATED GOVERNMENT-SPONSORED ENTERPRISES, 
                         AND FOR OTHER PURPOSES

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May 15, 2007.--Referred to the House Calendar and ordered to be printed

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    Mr. Welch, from the Committee on Rules, submitted the following

                              R E P O R T

                       [To accompany H. Res. 404]

    The Committee on Rules, having had under consideration 
House Resolution 404, by a nonrecord vote, report the same to 
the House with the recommendation that the resolution be 
adopted.

                SUMMARY OF PROVISIONS OF THE RESOLUTION

    The resolution provides for consideration of H.R. 1427, the 
Federal Housing Finance Reform Act of 2007, under 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 those arising under clauses 9 
or 10 of rule XXI.
    The rule makes in order the Committee on Financial Services 
amendment in the nature of a substitute now printed in the 
bill, modified by the amendment printed in this report, as an 
original bill for the purpose of amendment. The amendment in 
the nature of a substitute, as modified, shall be considered 
under the five-minute rule by title rather than by section with 
each title considered as read. The rule waives all points of 
order except clauses 9 and 10 of rule XXI against the amendment 
in the nature of a substitute, as modified. The rule provides 
that notwithstanding clause 11 of rule XVIII, no amendment to 
the committee amendment in the nature of a substitute shall be 
in order except those printed in the portion of the 
Congressional Record designated for that purpose in clause 8 of 
rule XVIII prior to the beginning of consideration of the bill 
and except pro forma amendments for the purpose of debate. Each 
amendment so printed may be offered only by the Member who 
caused it to be printed or his designee and shall be considered 
as read. The rule provides one motion to recommit with or 
without instructions. The rule also provides that, 
notwithstanding the operation of the previous question, the 
Chair may postpone further consideration of the bill to a time 
designated by the Speaker.

                         EXPLANATION OF WAIVERS

    The waiver of all points of order against consideration of 
the bill and the waiver of all points of order against the 
amendment in the nature of a substitute, as modified, (except 
for clauses 9 and 10 of rule XXI), includes the following:
      a waiver of Section 302(f) of the Congressional Budget 
Act, prohibiting consideration of legislation providing new 
budget authority in excess of a subcommittee's 302(b) 
allocation of such authority.
      a waiver of clause 5(a) of rule XXI, prohibiting tax or 
tariff provisions in a bill not reported by a committee with 
jurisdiction over revenue measures.
    The Committee is not aware of any other specific points of 
order. The waivers of all points of order are prophylactic in 
nature.

                            COMMITTEE VOTES

    The results of each record vote on an amendment or motion 
to report, together with the names of those voting for and 
against, are printed below:

Rules Committee record vote No. 189

    Date: May 15, 2007.
    Measure: H.R. 1427.
    Motion by: Mr. Sessions.
    Summary of motion: To grant an open rule.
    Results: Defeated 4 to 8.
    Vote by Members: Hastings (FL)--Nay; Matsui--Nay; Cardoza--
Nay; Welch--Nay; Castor--Nay; Arcuri--Nay; Sutton--Nay; 
Dreier--Yea; Diaz-Balart--Yea; Hastings (WA)--Yea; Sessions--
Yea; Slaughter--Nay.

               SUMMARY OF AMENDMENT CONSIDERED AS ADOPTED

    The amendment adds back to the bill section 185, which was 
inadvertently dropped due to a clerical error. Section 185, 
which is referenced throughout title one, contains an effective 
date of 6 months after the date of enactment.

                TEXT OF AMENDMENT CONSIDERED AS ADOPTED

  Page 299, after line 9, insert the following new section:

SEC. 185. EFFECTIVE DATE.

  Except as specifically provided otherwise in this title, this 
title shall take effect on and the amendments made by this 
title shall take effect on, and shall apply beginning on, the 
expiration of the 6-month period beginning on the date of the 
enactment of this Act.

                                  
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