HOUSE OF REPRESENTATIVES

1325

1995 T113.22

T113.20 RECORDED VOTE

A recorded vote by electronic device

was ordered in the Committee of the

Whole on the following amendment

submitted by Mr. HINCHEY:

Insert after section 4 the following new

section (redesignating section 5 as section 6):

SECTION 5. PROTECTION OF DOMESTIC INVESTMENTS.

Nothing in this Act shall be construed as

prohibiting the investment by an employee

benefit plan (within the meaning of paragraph (3) of section 3 of the Employee Retirement Income Security Act of 1974) in domestic investments, as distinguished from foreign investments. The Secretary of Labor

shall take such actions as are necessary to

encourage domestic investments by pension

plans to the extent that such investments

are in conformity with the requirements of

the Employee Retirement Income Security

Act of 1974.

It was decided in the Yeas ....... 179 ! negative ....................... Nays ...... 234

T113.21 [Roll No. 650]

AYES—179

Andrews

Baesler

Baldacci

Barcia

Barrett (WI)

Becerra

Beilenson

Bentsen

Berman

Bevill

Bishop

Bonior

Borski

Boucher

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

Fields (LA)

Filner

Flake

Foglietta

Forbes

Ford

Fox

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

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

Mink

Moran

Murtha

Nadler

Neal

Oberstar

Obey

Olver

Ortiz

Orton

Owens

Pallone

Pastor

Payne (NJ)

Payne (VA)

Peterson (FL)

Peterson (MN)

Pomeroy

Poshard

Rahall

Rangel

Reed

Richardson

Rivers

Roemer

Ros-Lehtinen

Rose

Roybal-Allard

Rush

Sabo

Sanders

Sawyer

Schroeder

Schumer

Scott

Serrano

Skaggs

Skelton

Slaughter

Spratt

Stark

Stokes

Studds

Stupak

Tanner

Tejeda

Thompson

Thornton

Thurman

Torres

Towns

Traficant

Velazquez

Vento

Visclosky

Volkmer

Ward

Waters

Watt (NC)

Waxman

Wise

Woolsey

Wyden

Wynn

Yates

NOES—234

Allard

Archer

Armey

Bachus

Baker (CA)

Baker (LA)

Ballenger

Barr

Barrett (NE)

Bartlett

Barton

Bass

Bateman

Bereuter

Bilbray

Bilirakis

Bliley

Blute

Boehlert

Bonilla

Bono

Brewster

Brownback

Bryant (TN)

Bunn

Bunning

Burr

Burton

Buyer

Callahan

Calvert

Camp

Canady

Castle

Chabot

Chambliss

Chenoweth

Christensen

Chrysler

Clinger

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

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

Herger

Hilleary

Hobson

Hoekstra

Hoke

Horn

Hostettler

Houghton

Hunter

Hutchinson

Hyde

Inglis

Istook

Johnson (CT)

Johnson, Sam

Jones

Kasich

Kelly

Kim

King

Kingston

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)

Molinari

Montgomery

Moorhead

Morella

Myers

Myrick

Nethercutt

Neumann

Ney

Norwood

Nussle

Oxley

Packard

Paxon

Petri

Pickett

Pombo

Porter

Portman

Pryce

Quillen

Quinn

Radanovich

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

Stearns

Stenholm

Stockman

Stump

Talent

Tate

Tauzin

Taylor (MS)

Taylor (NC)

Thomas

Thornberry

Tiahrt

Torkildsen

Upton

Vucanovich

Walker

Walsh

Wamp

Watts (OK)

Weldon (FL)

Weller

White

Whitfield

Wicker

Wilson

Wolf

Young (AK)

Young (FL)

Zeliff

Zimmer

NOT VOTING—21

Abercrombie

Ackerman

Boehner

Durbin

Fattah

Fazio

Hilliard

Jefferson

Lantos

Menendez

Moakley

Mollohan

Parker

Pelosi

Reynolds

Sisisky

Torricelli

Tucker

Waldholtz

Weldon (PA)

Williams

So the amendment was not agreed to.

After some further time,

T113.22 RECORDED VOTE

A recorded vote by electronic device

was ordered in the Committee of the

Whole on the following amendment in

the nature of substitute submitted by

Mr. ANDREWS:

Strike all after the enacting clause and insert the following:

SECTION 1. SENATE OF THE CONGRESS.

It is the sense of the Congress that the Department of Labor should apply the same fiduciary standards to economically targeted

investments (as defined in 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)) as are applicable to investments

by pension plans generally under the Employee Retirement Income Security Act of

1974.

SEC. 2. EFFECT OF INTERPRETIVE BULLETIN

94–1.

Interpretive Bulletin 94–1 (referred to in

section 1) shall be null and void to the extend it is construed to authorize investments

which are in violation of the Employee Retirement Income Security Act of 1974.

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.

2509.94–01).’’.

(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. 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.