H. Res. 240: H.R. 1343 - Encouraging Employee Ownership Act of 2017

COMMITTEE ACTION: REPORTED BY VOICE VOTE on Monday, April 3, 2017

FLOOR ACTION:  ADOPTED BY A RECORD VOTE OF 238-177 AFTER ORDERING THE PREVIOUS QUESTION BY A RECORD VOTE OF 229-187 on Tuesday, April 4, 2017.

MANAGERS: Polis/Buck

115th Congress

1st Session

Rule

H. RES. 240

Report No. 115- 75

 

H.R. 1343 - Encouraging Employee Ownership Act of 2017

  1. Structured rule.
  2. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  3. Waives all points of order against consideration of the bill.
  4. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-11 shall be considered as adopted and the bill, as amended, shall be considered as read.
  5. Waives all points of order against provisions in the bill, as amended.
  6. Makes in order only the further 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.
  7. Waives all points of order against the amendment printed in the report.
  8. 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. 1343) to direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans. All points of order against consideration of the bill are waived. An amendment in the nature of a substitute consisting of the text of Rules

Committee Print 115-11 shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, a1·e waived. The previous question shall be considered as ordered on the bill, as amended, and on any further 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 further 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.  Polis (CO)

2

Requires GAO to report to Congress one year after date of enactment the impact of the legislation on employee ownership.

 10 minutes