59–008 

110TH CONGRESS REPORT " ! HOUSE OF REPRESENTATIVES 1st Session 110–152 

PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 1427) TO REFORM 

THE REGULATION OF CERTAIN HOUSING-RELATED GOVERNMENTSPONSORED ENTERPRISES, AND FOR OTHER PURPOSES 

MAY 15, 2007.—Referred to the House Calendar and ordered to be printed 

Mr. WELCH, from the Committee on Rules, 

submitted the following 

R E P O R T 

[To accompany H. Res. 404] 

The Committee on Rules, having had under consideration House 

Resolution 404, 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. 1427, the Federal Housing Finance Reform Act of 2007, under an open rule with 

a preprinting requirement. The rule provides one hour of general 

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 consideration of the bill except 

those arising under clauses 9 or 10 of rule XXI. 

The rule makes in order the Committee on Financial Services 

amendment in the nature of a substitute now printed in the bill, 

modified by the amendment printed in this report, as an original 

bill for the purpose of amendment. The amendment in the nature 

of a substitute, as modified, shall be considered under the fiveminute rule by title rather than by section with each title considered as read. The rule waives all points of order except clauses 9 

and 10 of rule XXI against the amendment in the nature of a substitute, as modified. The rule provides that notwithstanding clause 

11 of rule XVIII, no amendment to the committee amendment in 

the nature of a substitute shall be in order except those printed in 

the portion of the Congressional Record designated for that purpose 

in clause 8 of rule XVIII prior to the beginning of consideration of 

the bill and except pro forma amendments for the purpose of debate. Each amendment so printed may be offered only by the Member who caused it to be printed or his designee and shall be considered as read. The rule provides one motion to recommit with or 

without instructions. The rule also provides that, notwithstanding 

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the operation of the previous question, the Chair may postpone further consideration of the bill to a time designated by the Speaker. 

EXPLANATION OF WAIVERS

The waiver of all points of order against consideration of the bill 

and the waiver of all points of order against the amendment in the 

nature of a substitute, as modified, (except for clauses 9 and 10 of 

rule XXI), includes the following: 

a waiver of Section 302(f) of the Congressional Budget Act, prohibiting consideration of legislation providing new budget authority 

in excess of a subcommittee’s 302(b) allocation of such authority. 

a waiver of clause 5(a) of rule XXI, prohibiting tax or tariff provisions in a bill not reported by a committee with jurisdiction over 

revenue measures. 

The Committee is not aware of any other specific points of order. 

The waivers of all points of order are prophylactic in nature. 

COMMITTEE VOTES

The results of each record vote on an amendment or motion to 

report, together with the names of those voting for and against, are 

printed below: 

Rules Committee record vote No. 189 

Date: May 15, 2007. 

Measure: H.R. 1427. 

Motion by: Mr. Sessions. 

Summary of motion: To grant an open rule. 

Results: Defeated 4 to 8. 

Vote by Members: Hastings (FL)—Nay; Matsui—Nay; Cardoza—

Nay; Welch—Nay; Castor—Nay; Arcuri—Nay; Sutton—Nay; 

Dreier—Yea; Diaz-Balart—Yea; Hastings (WA)—Yea; Sessions—

Yea; Slaughter—Nay. 

SUMMARY OF AMENDMENT CONSIDERED AS ADOPTED

The amendment adds back to the bill section 185, which was inadvertently dropped due to a clerical error. Section 185, which is 

referenced throughout title one, contains an effective date of 6 

months after the date of enactment. 

TEXT OF AMENDMENT CONSIDERED AS ADOPTED

Page 299, after line 9, insert the following new section: 

SEC. 185. EFFECTIVE DATE. 

Except as specifically provided otherwise in this title, this title 

shall take effect on and the amendments made by this title shall 

take effect on, and shall apply beginning on, the expiration of the 

6-month period beginning on the date of the enactment of this Act. 

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