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[Journal of the House of Representatives, 1995]
[Tuesday, September 12, 1995 (113), Para 113.23 Roll No. 651]
[Pages 1326-1327]
[From the U.S. Government Publishing Office, www.gpo.gov]

para.113.23                  [Roll No. 651]

                                AYES--178

     Andrews
     Baesler
     Baldacci
     Barcia
     Barrett (WI)
     Becerra
     Beilenson
     Bentsen
     Berman
     Bevill
     Bishop
     Bonior
     Borski
     Boucher
     Brewster
     Browder
     Brown (CA)
     Brown (FL)
     Brown (OH)
     Bryant (TX)
     Cardin
     Chapman
     Clay
     Clayton
     Clement
     Clyburn
     Coleman
     Collins (IL)
     Collins (MI)
     Condit
     Conyers
     Costello
     Coyne
     Cramer
     Danner
     de la Garza
     DeFazio
     DeLauro
     Dellums
     Deutsch
     Diaz-Balart
     Dicks
     Dingell
     Dixon
     Doggett
     Dooley
     Doyle
     Edwards
     Engel
     Eshoo
     Evans
     Farr
     Fazio
     Fields (LA)
     Filner
     Flake
     Foglietta
     Forbes
     Ford
     Frank (MA)
     Frost
     Furse
     Gejdenson
     Gephardt
     Gibbons
     Gonzalez
     Gordon
     Green
     Gutierrez
     Hall (OH)
     Hamilton
     Harman
     Hastings (FL)
     Hefner
     Hinchey
     Holden
     Hoyer
     Jackson-Lee
     Jacobs
     Johnson (SD)
     Johnson, E. B.
     Johnston
     Kanjorski
     Kaptur
     Kennedy (MA)
     Kennedy (RI)
     Kennelly
     Kildee
     Kingston
     Kleczka
     Klink
     LaFalce
     Levin
     Lewis (GA)
     Lincoln
     Lipinski
     Lofgren
     Lowey
     Luther
     Maloney
     Manton
     Markey
     Martinez
     Mascara
     Matsui
     McCarthy
     McDermott
     McHale
     McKinney
     McNulty
     Meehan
     Meek
     Mfume
     Miller (CA)
     Mineta
     Minge
     Montgomery
     Murtha
     Nadler
     Neal
     Oberstar
     Obey
     Olver
     Ortiz
     Orton
     Owens
     Pallone
     Pastor
     Payne (NJ)
     Payne (VA)
     Peterson (FL)
     Peterson (MN)
     Pickett
     Pomeroy
     Poshard
     Rangel
     Reed
     Richardson
     Rivers
     Roemer
     Ros-Lehtinen
     Rose
     Roybal-Allard
     Rush
     Sabo
     Sanders
     Sawyer
     Schroeder
     Schumer
     Scott
     Serrano
     Skaggs
     Skelton
     Slaughter
     Stark
     Stokes
     Studds
     Stupak
     Tanner
     Tejeda
     Thompson
     Thornton
     Thurman
     Torres
     Towns
     Vento
     Visclosky
     Volkmer
     Ward
     Waters
     Watt (NC)
     Waxman
     Wilson
     Wise
     Woolsey
     Wyden
     Wynn
     Yates

                                NOES--232

     Allard
     Archer
     Armey
     Bachus
     Baker (CA)
     Baker (LA)
     Ballenger
     Barr
     Barrett (NE)
     Bartlett
     Barton
     Bass
     Bereuter
     Bilbray
     Bilirakis
     Bliley
     Blute
     Boehlert
     Bonilla
     Bono
     Brownback
     Bryant (TN)
     Bunning
     Burr
     Burton
     Buyer
     Callahan
     Calvert
     Camp
     Canady
     Castle
     Chabot
     Chambliss
     Chenoweth
     Christensen
     Chrysler
     Coble
     Coburn
     Collins (GA)
     Combest
     Cooley
     Cox
     Crane
     Crapo
     Cremeans
     Cubin
     Cunningham
     Davis
     Deal
     DeLay
     Dickey
     Doolittle
     Dornan
     Dreier
     Duncan
     Dunn
     Ehlers
     Ehrlich
     Emerson
     English
     Ensign
     Everett
     Ewing
     Fawell
     Fields (TX)
     Flanagan
     Foley
     Fowler
     Fox
     Franks (CT)
     Franks (NJ)
     Frelinghuysen
     Frisa
     Funderburk
     Gallegly
     Ganske
     Gekas
     Geren
     Gilchrest
     Gillmor
     Gilman
     Goodlatte
     Goodling
     Goss
     Graham
     Greenwood
     Gunderson
     Gutknecht
     Hall (TX)
     Hancock
     Hansen
     Hastert
     Hastings (WA)
     Hayes
     Hayworth
     Hefley
     Heineman
     Hilleary
     Hobson
     Hoekstra
     Hoke
     Horn
     Hostettler
     Houghton
     Hunter
     Hutchinson
     Hyde
     Inglis
     Istook
     Johnson (CT)
     Johnson, Sam
     Jones
     Kasich
     Kelly
     Kim
     King
     Klug
     Knollenberg
     Kolbe
     LaHood
     Largent
     Latham
     LaTourette
     Laughlin
     Lazio
     Leach
     Lewis (CA)
     Lewis (KY)
     Lightfoot
     Linder
     Livingston
     LoBiondo
     Longley
     Lucas
     Manzullo
     Martini
     McCollum
     McCrery
     McDade
     McHugh
     McInnis
     McIntosh
     McKeon
     Metcalf
     Meyers
     Mica
     Miller (FL)
     Mink
     Molinari
     Moorhead
     Moran
     Morella
     Myers
     Myrick
     Nethercutt
     Neumann
     Ney
     Norwood
     Nussle
     Oxley
     Packard
     Paxon
     Petri
     Pombo
     Porter
     Portman
     Pryce
     Quillen
     Quinn
     Radanovich
     Rahall
     Ramstad
     Regula
     Riggs
     Roberts
     Rogers
     Rohrabacher
     Roth
     Roukema
     Royce
     Salmon
     Sanford
     Saxton
     Scarborough
     Schaefer
     Schiff
     Seastrand
     Sensenbrenner
     Shadegg
     Shaw
     Shays
     Shuster
     Skeen
     Smith (MI)
     Smith (NJ)
     Smith (TX)
     Smith (WA)
     Solomon
     Souder
     Spence
     Spratt
     Stearns
     Stenholm
     Stockman
     Stump
     Talent
     Tate
     Tauzin
     Taylor (MS)
     Taylor (NC)
     Thomas
     Thornberry
     Tiahrt
     Torkildsen
     Traficant
     Upton
     Velazquez
     Vucanovich
     Walker
     Walsh
     Wamp
     Watts (OK)
     Weldon (FL)
     Weller
     White
     Whitfield
     Wicker
     Wolf
     Young (AK)
     Young (FL)
     Zeliff
     Zimmer

                             NOT VOTING--24

     Abercrombie
     Ackerman
     Bateman
     Boehner
     Bunn
     Clinger
     Durbin
     Fattah
     Herger
     Hilliard
     Jefferson
     Lantos
     Menendez
     Moakley
     Mollohan
     Parker
     Pelosi
     Reynolds
     Sisisky
     Torricelli
     Tucker
     Waldholtz
     Weldon (PA)
     Williams
  So the amendment in the nature of a substitute was not agreed to.
  The SPEAKER pro tempore, Mr. DICKEY, assumed the Chair.
  When Mr. EMERSON, Chairman, pursuant to House Resolution 215, reported 
the bill back to the House with an amendment adopted by the Committee.
  The previous question having been ordered by said resolution.

       Strike out all after the enacting clause and insert:

     SECTION 1. SENSE OF THE CONGRESS.

       It is the sense of the Congress that it is inappropriate 
     for the Department of Labor, as the principal enforcer of 
     fiduciary standards in connection with employee pension 
     benefit plans and employee welfare benefit plans (as defined 
     in paragraphs (1) and (2) of section 3 of the Employee 
     Retirement Income Security Act of 1974 (29 U.S.C. 1002(1), 
     (2))), to take any action to promote or otherwise encourage 
     economically targeted investments.

     SEC. 2. PROHIBITIONS ON DEPARTMENT OF LABOR REGARDING 
                   ECONOMICALLY TARGETED INVESTMENTS.

       (a) In General.--Interpretive Bulletin 94-1, issued by the 
     Secretary of Labor on June 23, 1994 (59 Fed. Reg. 32606; 29 
     C.F.R. 2509.94-1), is null and void and shall have no force 
     or effect. The provisions of the Employee Retirement Income 
     Security Act of 1974 (29 U.S.C. 1001 et seq.) shall be 
     interpreted and enforced without regard to such Interpretive 
     Bulletin.
       (b) Restrictions on Department of Labor Regulations.--The 
     Secretary of Labor may not issue any rule, regulation, or 
     interpretive bulletin which promotes or otherwise encourages 
     economically targeted investments as a specified class of 
     investments.
       (c) Restrictions on Activities of the Department of 
     Labor.--No officer or employee of the Department of Labor may 
     travel, lecture, or otherwise expend resources available to 
     such Department for the purpose of promoting, directly or 
     indirectly, economically targeted investments.
       (d) Economically Targeted Investment Defined.--For purposes 
     of this section, the term ``economically targeted 
     investment'' has the meaning given such term in Interpretive 
     Bulletin 94-1, as issued by the Secretary of Labor on June 
     23, 1994 (59 Fed. Reg. 32606; 29 C.F.R. 2509.94-1).

     SEC. 3. PROHIBITION ON FEDERAL AGENCIES AGAINST ESTABLISHING 
                   OR MAINTAINING ANY CLEARINGHOUSE OR OTHER 
                   DATABASE RELATING TO ECONOMICALLY TARGETED 
                   INVESTMENTS.

       (a) In General.--Part 5 of subtitle B of title I of the 
     Employee Retirement Income Security Act of 1974 (29 U.S.C. 
     1131 et seq.) is amended by adding at the end the following 
     new section:

 ``prohibition on federal agencies against establishing or maintaining 
 any clearinghouse or other database relating to economically targeted 
                              investments

       ``Sec. 516. (a) In General.--No agency or instrumentality 
     of the Federal Government may establish or maintain, or 
     contract with (or otherwise provide assistance to) any other 
     party to establish or maintain, any clearinghouse, database, 
     or other listing--
       ``(1) for the purpose of making available to employee 
     benefit plans information on economically targeted 
     investments,
       ``(2) for the purpose of encouraging, or providing 
     assistance to, employee benefit plans or any other party 
     related to an employee benefit plan to undertake or evaluate 
     economically targeted investments, or
       ``(3) for the purpose of identifying economically targeted 
     investments with respect to which such agency or 
     instrumentality will withhold from undertaking enforcement 
     actions relating to employee benefit plans under any 
     otherwise applicable authority of such agency or 
     instrumentality.
       ``(b) Economically Targeted Investment Defined.--For 
     purposes of this section, the term `economically targeted 
     investment' has the meaning given such term in Interpretive 
     Bulletin 94-1, as issued by the Secretary on June 23, 1994 
     (59 Fed. Reg. 32606; 29 C.F.R.
     2509.94-1).''.
       (b) Clerical Amendment.--The table of contents in section 1 
     of such Act is amended by inserting at the end of the items 
     relating to part 5 of subtitle B of title I the following new 
     item:

``Sec. 516. Prohibition on Federal agencies against establishing or 
              maintaining any clearinghouse or other database relating 
              to economically targeted investments.''.

     SEC. 4. TERMINATION OF CONTRACTS.

       The head of each agency and instrumentality of the 
     Government of the United States shall immediately take such 
     actions as are necessary and appropriate to terminate any 
     contract or other arrangement entered into by such agency or 
     instrumentality which is in violation of the requirements of 
     the provisions of this Act or the amendments made thereby.

     SEC. 5. AUTHORITY OF DEPARTMENT OF LABOR.

       Nothing in this Act is intended to affect the ability of 
     the Department of Labor to issue advisory opinions, 
     information letters, technical releases, prohibited 
     transactions, exemptions, or other pronouncements inter

[[Page 1327]]

     preting and applying ERISA's fiduciary responsibility rules 
     to particular factual situations, or exempting specific 
     transactions from the prohibited transaction provisions of 
     the Employee Retirement Income Security Act of 1974 (pursuant 
     to 29 U.S.C. 1106, 1108).

     SEC. 6. EFFECTIVE DATE.

       The preceding provisions of this Act (and the amendments 
     made thereby) shall take effect on the date of the enactment 
     of this Act.

  The bill, as amended, was ordered to be engrossed and read a third 
time, was read a third time by title.
  The question being put, viva voce,
  Will the House pass said bill?
  The SPEAKER pro tempore, Mr. DICKEY, announced that the yeas had it.
  Mr. FAWELL demanded a recorded vote on passage of said bill, which 
demand was supported by one-fifth of a quorum, so a recorded vote was 
ordered.
  The vote was taken by electronic device.

It was decided in the

Yeas

239

affirmative

Nays

179
```