Wednesday, December 10, 2008

 2:25 P.M. 

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H.R. 7321                               Financial Services

Auto Industry Financing and Restructuring Act

The Committee granted, by a non-record vote, a structured rule providing for consideration of H.R. 7321, the Auto Industry Financing and Restructuring Act.  The rule provides for one hour of 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 the bill and against its consideration.  The rule 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 rule provides one motion to recommit the bill.  Finally, the rule permits the Chair, during consideration of the bill, to postpone further consideration to a time designated by the Speaker.