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