Tuesday, July 22, 2008

9:15 P.M.

_____________________________________________

H. Res. 1363                             Financial Services; Ways and Means

Providing for the consideration of the Senate amendment to the House amendments to the Senate amendment to H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act of 2008

The Committee granted, by a non-record vote, a rule providing for consideration of the Senate amendment to the House amendments to the Senate amendment to H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act of 2008.  The rule makes in order a motion by the Chairman of the Committee on Financial Services to concur in the Senate amendment to the House amendment numbered one with the text of the House amendment printed in the report of the Committee on Rules.  The rule waives all points of order against the motion and provides that the Senate amendment and the motion shall be considered as read.  The rule provides two hours of debate on the motion, with 80 minutes equally divided and controlled by the chairman and ranking minority member of the Committee on Financial Services and 40 minutes equally divided and controlled by the chairman and ranking minority member of the Committee on Ways and Means.  The rule provides that upon adoption of the motion specified in the first section of the rule, the House shall be considered to have receded from any remaining amendments or disagreements.  The rule provides that the Chair may postpone further consideration of the motion to a time designated by the Speaker.