H.Res. 701: H.R. 4498 - HALOS Act

COMMITTEE ACTION: REPORTED BY VOICE VOTE on Tuesday, April 26, 2016.
FLOOR ACTION: ADOPTED BY A RECORD VOTE OF 238-181 AFTER ORDERING THE PREVIOUS QUESTION BY A RECORD VOTE OF 240-177 on Wednesday, April 27, 2016.

MANAGERS: McGovern/Sessions

114th Congress

2nd Session

Rule

H.RES. 701

Report No. 114-530

H.R. 4498 - HALOS ACT

Structured rule.
Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
Waives all points of order against consideration of the bill.
Provides that the bill shall be considered as read.
Waives all points of order against provisions in the bill.
Makes in order only the amendment printed in the Rules Committee report, if offered by the Member designated in the report, which shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
Waives all points of order against the amendment printed in the report.
Provides one motion to recommit with or without instructions.

RESOLUTION

Resolved, That upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 4498) to clarify the definition of general solicitation under Federal securities law. All points of order against consideration of the bill are waived. The bill shall be considered as read. All points of order against provisions in the bill are waived. The previous question shall be considered as ordered on the bill and on any amendment thereto to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services; (2) the amendment printed in the report of the Committee on Rules accompanying this resolution, if offered by the Member designated in the report, which shall be in order without intervention of any point of order, shall be considered as read, shall be separately debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for a division of the question; and (3) one motion to recommit with or without instructions.

SUMMARY OF AMENDMENT PROPOSED TO BE MADE IN ORDER

(summaries derived from information provided by sponsors)

Sponsor	#	Description	Debate Time
1. Waters (CA)	1	Limits the types of fees "demo day" sponsors can collect, limits attendance at "demo days" to only individuals with financial sophistication, and requires an issuer to be a real business.	(10 minutes)