[House Report 110-922]
[From the U.S. Government Publishing Office]



 110th Congress                                                  Report
                        HOUSE OF REPRESENTATIVES
 2d Session                                                     110-922

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   PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 7321) TO AUTHORIZE 
  FINANCIAL ASSISTANCE TO ELIGIBLE AUTOMOBILE MANUFACTURERS, AND FOR 
                             OTHER PURPOSES

                                _______
                                

 December 10, 2008.--Referred to the House Calendar and ordered to be 
                                printed

                                _______
                                

  Ms. Slaughter, from the Committee on Rules, submitted the following

                              R E P O R T

                      [To accompany H. Res. 1534]

    The Committee on Rules, having had under consideration 
House Resolution 1534, 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. 7321, the 
Auto Industry Financing and Restructuring Act, under a 
structured rule. The resolution provides for one hour of debate 
equally divided and controlled by the chairman and ranking 
minority member of the Committee on Financial Services. The 
resolution waives all points of order against the bill and 
against its consideration. The resolution provides that the 
bill shall be considered as read. The rule makes in order the 
amendment printed in this report if offered by Representative 
LaTourette. The amendment made in order shall be considered as 
read and shall be debatable for 10 minutes equally divided and 
controlled by the proponent and an opponent. All points of 
order against the amendment are waived. The resolution provides 
one motion to recommit the bill. Finally, the resolution 
permits the Chair, during consideration of the bill, to 
postpone further consideration to a time designated by the 
Speaker.

                         EXPLANATION OF WAIVERS

    The waiver of all points of order against the bill and 
against its consideration includes a waiver of clause 9 of rule 
XXI, regarding earmarks and a waiver of clause 10 of rule XXI, 
regarding paygo.

                   SUMMARY OF AMENDMENT MADE IN ORDER

     The amendment requires that any lending assistance 
provided under TARP or EISA to an insured depository 
institution shall report the amount of any increase or decrease 
in new lending attributed to the TARP or EISA assistance. If 
the institution cannot provide an accurate report, the 
institution shall report the total amount of increase or 
decrease in overall new lending in its quarterly reports.

                    TEXT OF AMENDMENT MADE IN ORDER

SEC. __. NEW LENDING THAT IS ATTRIBUTABLE TO TARP INVESTMENTS AND 
                    ASSISTANCE.

    Section 7(a) of the Federal Deposit Insurance Act (U.S.C. 
1817(a)) is amended by adding at the end the following new 
paragraph:
          ``(12) Lending increases attributable to investment 
        or other assistance under the troubled assets relief 
        program.--
                  ``(A) In general.--Each report of condition 
                filed pursuant to this subsection by an insured 
                depository institution which received an 
                investment or other assistance under the 
                Troubled Assets Relief Program established by 
                the Emergency Economic Stabilization Act of 
                2008 or section 136(d) of the Energy 
                Independence and Security Act of 2007 shall 
                report the amount of any increase in new 
                lending in the period covered by such report 
                (or the amount of any reduction in any decrease 
                in new lending) that is attributable to such 
                investment or assistance, to the extent 
                possible.
                  ``(B) Alternative measure.--If an insured 
                depository institution that is subject to 
                subparagraph (A) cannot accurately quantify the 
                effect that an investment or other assistance 
                under such Troubled Assets Relief Program has 
                had on new lending by the institution, the 
                insured depository institution shall report the 
                total amount of the increase in new lending, if 
                any, in the period covered by such report.''.

                                  
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