H10710 CONGRESSIONAL RECORD — HOUSE October 3, 2008 

The result of the vote was announced 

as above recorded. 

Stated for: 

Mr. LANGEVIN. Madam Speaker, on October 3, 2008, I was unavoidably detained and 

unable to be in the Chamber for a rollcall vote. 

Had I been present, I would have voted ‘‘yea’’ 

on rollcall No. 679, Ordering the Previous 

Question on H. Res. 1525. 

The SPEAKER pro tempore. The 

question is on the resolution. 

The question was taken; and the 

Speaker pro tempore announced that 

the ayes appeared to have it. 

Mr. DREIER. Madam Speaker, on 

that I demand the yeas and nays. 

The yeas and nays were ordered. 

The SPEAKER pro tempore. This 

will be a 5-minute vote. 

The vote was taken by electronic device, and there were—yeas 223, nays 

205, not voting 5, as follows: 

[Roll No. 680] 

YEAS—223 

Ackerman 

Allen 

Altmire 

Andrews 

Arcuri 

Baca 

Baird 

Baldwin 

Barrow 

Bean 

Becerra 

Berkley 

Berman 

Berry 

Bishop (NY) 

Blumenauer 

Bono Mack 

Boren 

Boswell 

Boucher 

Brady (PA) 

Braley (IA) 

Brown, Corrine 

Butterfield 

Calvert 

Campbell (CA) 

Capps 

Capuano 

Cardoza 

Carnahan 

Carson 

Castor 

Chandler 

Childers 

Clarke 

Clay 

Cleaver 

Clyburn 

Cohen 

Conyers 

Cooper 

Costa 

Courtney 

Cramer 

Crowley 

Cuellar 

Cummings 

Davis (AL) 

Davis (CA) 

Davis (IL) 

Davis, Lincoln 

DeGette 

Delahunt 

DeLauro 

Dicks 

Dingell 

Doggett 

Edwards (MD) 

Edwards (TX) 

Ehlers 

Ellison 

Ellsworth 

Emanuel 

Engel 

Eshoo 

Etheridge 

Farr 

Fattah 

Ferguson 

Fossella 

Foster 

Frank (MA) 

Giffords 

Gillibrand 

Gonzalez 

Gordon 

Green, Al 

Green, Gene 

Grijalva 

Gutierrez 

Hall (NY) 

Hare 

Hastings (FL) 

Herger 

Higgins 

Hill 

Hinchey 

Hinojosa 

Hodes 

Holden 

Holt 

Honda 

Hooley 

Hoyer 

Inslee 

Israel 

Jackson (IL) 

Jackson-Lee 

(TX) 

Jefferson 

Johnson (GA) 

Johnson, E. B. 

Kagen 

Kanjorski 

Kennedy 

Kildee 

Kilpatrick 

King (NY) 

Klein (FL) 

LaHood 

Langevin 

Larsen (WA) 

Larson (CT) 

Lee 

Levin 

Lewis (CA) 

Lewis (GA) 

Lipinski 

Loebsack 

Lofgren, Zoe 

Lowey 

Mahoney (FL) 

Maloney (NY) 

Markey 

Marshall 

Matheson 

Matsui 

McCarthy (NY) 

McCollum (MN) 

McCrery 

McDermott 

McGovern 

McNerney 

McNulty 

Meek (FL) 

Meeks (NY) 

Miller (NC) 

Miller, George 

Mollohan 

Moore (KS) 

Moore (WI) 

Moran (VA) 

Murphy (CT) 

Murphy, Patrick 

Murtha 

Nadler 

Napolitano 

Neal (MA) 

Oberstar 

Olver 

Ortiz 

Pallone 

Pascrell 

Pastor 

Payne 

Perlmutter 

Peterson (MN) 

Peterson (PA) 

Pickering 

Pomeroy 

Price (NC) 

Radanovich 

Rahall 

Ramstad 

Rangel 

Regula 

Reyes 

Richardson 

Rodriguez 

Rothman 

Roybal-Allard 

Ruppersberger 

Rush 

Ryan (OH) 

Salazar 

Sa ́nchez, Linda 

T. 

Sanchez, Loretta 

Sarbanes 

Saxton 

Schakowsky 

Schiff 

Schwartz 

Scott (GA) 

Scott (VA) 

Serrano 

Sestak 

Shea-Porter 

Sherman 

Sires 

Skelton 

Slaughter 

Smith (WA) 

Snyder 

Solis 

Speier 

Spratt 

Stupak 

Sutton 

Tauscher 

Thompson (CA) 

Tierney 

Towns 

Tsongas 

Udall (CO) 

Udall (NM) 

Van Hollen 

Vela ́ zquez 

Visclosky 

Walsh (NY) 

Walz (MN) 

Wamp 

Wasserman 

Schultz 

Waters 

Watson 

Watt 

Waxman 

Weiner 

Welch (VT) 

Wexler 

Wilson (NM) 

Wilson (OH) 

Woolsey 

Wu 

Yarmuth 

NAYS—205 

Abercrombie 

Aderholt 

Akin 

Alexander 

Bachmann 

Bachus 

Barrett (SC) 

Bartlett (MD) 

Barton (TX) 

Biggert 

Bilbray 

Bilirakis 

Bishop (GA) 

Bishop (UT) 

Blackburn 

Blunt 

Boehner 

Bonner 

Boozman 

Boustany 

Boyd (FL) 

Boyda (KS) 

Brady (TX) 

Broun (GA) 

Brown (SC) 

Brown-Waite, 

Ginny 

Buchanan 

Burgess 

Burton (IN) 

Buyer 

Camp (MI) 

Cannon 

Cantor 

Capito 

Carney 

Carter 

Castle 

Cazayoux 

Chabot 

Coble 

Cole (OK) 

Conaway 

Costello 

Crenshaw 

Culberson 

Davis (KY) 

Davis, David 

Davis, Tom 

Deal (GA) 

DeFazio 

Dent 

Diaz-Balart, L. 

Diaz-Balart, M. 

Donnelly 

Doolittle 

Doyle 

Drake 

Dreier 

Duncan 

Emerson 

English (PA) 

Everett 

Fallin 

Feeney 

Filner 

Flake 

Forbes 

Fortenberry 

Foxx 

Franks (AZ) 

Frelinghuysen 

Gallegly 

Garrett (NJ) 

Gerlach 

Gingrey 

Gohmert 

Goode 

Goodlatte 

Granger 

Graves 

Hall (TX) 

Harman 

Hastings (WA) 

Hayes 

Heller 

Hensarling 

Herseth Sandlin 

Hirono 

Hobson 

Hoekstra 

Hulshof 

Hunter 

Inglis (SC) 

Issa 

Johnson (IL) 

Johnson, Sam 

Jones (NC) 

Jordan 

Kaptur 

Keller 

Kind 

King (IA) 

Kingston 

Kirk 

Kline (MN) 

Knollenberg 

Kucinich 

Kuhl (NY) 

Lamborn 

Lampson 

Latham 

LaTourette 

Latta 

Lewis (KY) 

Linder 

LoBiondo 

Lucas 

Lungren, Daniel 

E. 

Lynch 

Mack 

Manzullo 

Marchant 

McCarthy (CA) 

McCaul (TX) 

McCotter 

McHenry 

McHugh 

McIntyre 

McKeon 

McMorris 

Rodgers 

Melancon 

Mica 

Michaud 

Miller (FL) 

Miller (MI) 

Miller, Gary 

Mitchell 

Moran (KS) 

Murphy, Tim 

Musgrave 

Myrick 

Neugebauer 

Nunes 

Paul 

Pearce 

Pence 

Petri 

Pitts 

Platts 

Poe 

Porter 

Price (GA) 

Pryce (OH) 

Putnam 

Rehberg 

Reichert 

Renzi 

Reynolds 

Rogers (AL) 

Rogers (KY) 

Rogers (MI) 

Rohrabacher 

Ros-Lehtinen 

Roskam 

Ross 

Royce 

Ryan (WI) 

Sali 

Scalise 

Schmidt 

Sensenbrenner 

Sessions 

Shadegg 

Shays 

Shimkus 

Shuler 

Shuster 

Simpson 

Smith (NE) 

Smith (NJ) 

Smith (TX) 

Souder 

Space 

Stark 

Stearns 

Sullivan 

Tanner 

Taylor 

Terry 

Thornberry 

Tiahrt 

Tiberi 

Turner 

Upton 

Walberg 

Walden (OR) 

Weldon (FL) 

Weller 

Westmoreland 

Whitfield (KY) 

Wilson (SC) 

Wittman (VA) 

Wolf 

Young (AK) 

Young (FL) 

NOT VOTING—5 

Cubin 

Gilchrest 

Obey 

Tancredo 

Thompson (MS) 

ANNOUNCEMENT BY THE SPEAKER PRO TEMPORE

The SPEAKER pro tempore (during 

the vote). Two minutes are remaining 

on this vote. 

b 1034 

Ms. GRANGER changed her vote 

from ‘‘yea’’ to ‘‘nay.’’ 

So the resolution was agreed to. 

The result of the vote was announced 

as above recorded. 

A motion to reconsider was laid on 

the table. 

f 

EXTENDING THE ANDEAN TRADE 

PREFERENCE ACT 

Mr. LEVIN. Madam Speaker, I ask 

unanimous consent to take from the 

Speaker’s table the bill (H.R. 7222) to 

extend the Andean Trade Preference 

Act, and for other purposes, and for 

other purposes, with a Senate amendment thereto, and concur in the Senate 

amendment. 

The Clerk read the title of the bill. 

The Clerk read the Senate amendment, as follows: 

Senate amendment: 

Strike all after the enacting clause and insert the following: 

SECTION 1. EXTENSION OF ANDEAN TRADE 

PREFERENCE ACT. 

(a) EXTENSION.—Section 208 of the Andean 

Trade Preference Act (19 U.S.C. 3206) is 

amended to read as follows: 

‘‘SEC. 208. TERMINATION OF PREFERENTIAL 

TREATMENT. 

‘‘(a) IN GENERAL.—No duty-free treatment 

or other preferential treatment extended to 

beneficiary countries under this title shall— 

‘‘(1) remain in effect with respect to Colombia or Peru after December 31, 2009; 

‘‘(2) remain in effect with respect to Ecuador after June 30, 2009, except that duty-free 

treatment and other preferential treatment 

under this title shall remain in effect with 

respect to Ecuador during the period beginning on July 1, 2009, and ending on December 

31, 2009, unless the President reviews the criteria set forth in section 203, and on or before June 30, 2009, reports to the Committee 

on Finance of the Senate and the Committee 

on Ways and Means of the House of Representatives pursuant to subsection (b) 

that— 

‘‘(A) the President has determined that Ecuador does not satisfy the requirements set 

forth in section 203(c) for being designated as 

a beneficiary country; and 

‘‘(B) in making that determination, the 

President has taken into account each of the 

factors set forth in section 203(d); and 

‘‘(3) remain in effect with respect to Bolivia after June 30, 2009, except that dutyfree treatment and other preferential treatment under this title shall remain in effect 

with respect to Bolivia during the period beginning on July 1, 2009, and ending on December 31, 2009, only if the President reviews 

the criteria set forth in section 203, and on or 

before June 30, 2009, reports to the Committee on Finance of the Senate and the 

Committee on Ways and Means of the House 

of Representatives pursuant to subsection (b) 

that— 

‘‘(A) the President has determined that Bolivia satisfies the requirements set forth in 

section 203(c) for being designated as a beneficiary country; and 

‘‘(B) in making that determination, the 

President has taken into account each of the 

factors set forth in section 203(d). 

‘‘(b) REPORTS.—On or before June 30, 2009, 

the President shall make determinations 

pursuant to subsections (a)(2)(A) and 

(a)(3)(A) and report to the Committee on Finance of the Senate and the Committee on 

Ways and Means of the House of Representatives on— 

‘‘(1) such determinations; and 

‘‘(2) the reasons for such determinations.’’. 

(b) TREATMENT OF CERTAIN APPAREL ARTICLES.—Section 204(b)(3) of such Act (19 U.S.C. 

3203(b)(3)) is amended— 

(1) in subparagraph (B)— 

(A) in clause (iii)— 


rfrederick on PROD1PC67 with HOUSE
October 3, 2008 CONGRESSIONAL RECORD — HOUSE H10711 

(i) in subclause (II), by striking ‘‘6 succeeding 1-year periods’’ and inserting ‘‘7 succeeding 1-year periods’’; and 

(ii) in subclause (III)(bb), by striking ‘‘and 

for the succeeding 1-year period’’ and inserting ‘‘and for the succeeding 2-year period’’; 

and 

(B) in clause (v)(II), by striking ‘‘5 succeeding 1-year periods’’ and inserting ‘‘6 succeeding 1-year periods’’; and 

(2) in subparagraph (E)(ii)(II), by striking 

‘‘December 31, 2008’’ and inserting ‘‘December 31, 2009’’. 

SEC. 2. EARNED IMPORT ALLOWANCE PROGRAM. 

(a) IN GENERAL.—Title IV of the Dominican 

Republic-Central America-United States 

Free Trade Agreement Implementation Act 

(Public Law 109–53; 119 Stat. 495) is amended 

by adding at the end the following: 

‘‘SEC. 404. EARNED IMPORT ALLOWANCE PROGRAM. 

‘‘(a) PREFERENTIAL TREATMENT.— 

‘‘(1) IN GENERAL.—Eligible apparel articles 

wholly assembled in an eligible country and 

imported directly from an eligible country 

shall enter the United States free of duty, 

without regard to the source of the fabric or 

yarns from which the articles are made, if 

such apparel articles are accompanied by an 

earned import allowance certificate that reflects the amount of credits equal to the 

total square meter equivalents of fabric in 

such apparel articles, in accordance with the 

program established under subsection (b). 

‘‘(2) DETERMINATION OF QUANTITY OF SME.— 

For purposes of determining the quantity of 

square meter equivalents under paragraph 

(1), the conversion factors listed in ‘Correlation: U.S. Textile and Apparel Industry Category System with the Harmonized Tariff 

Schedule of the United States of America, 

2008’, or its successor publications, of the 

United States Department of Commerce, 

shall apply. 

‘‘(b) EARNED IMPORT ALLOWANCE PROGRAM.— 

‘‘(1) ESTABLISHMENT.—The Secretary of 

Commerce shall establish a program to provide earned import allowance certificates to 

any producer or entity controlling production of eligible apparel articles in an eligible 

country for purposes of subsection (a), based 

on the elements described in paragraph (2). 

‘‘(2) ELEMENTS.—The elements referred to 

in paragraph (1) are the following: 

‘‘(A) One credit shall be issued to a producer or an entity controlling production for 

every two square meter equivalents of qualifying fabric that the producer or entity controlling production can demonstrate that it 

has purchased for the manufacture in an eligible country of articles like or similar to 

any article eligible for preferential treatment under subsection (a). The Secretary of 

Commerce shall, if requested by a producer 

or entity controlling production, create and 

maintain an account for such producer or entity controlling production, into which such 

credits may be deposited. 

‘‘(B) Such producer or entity controlling 

production may redeem credits issued under 

subparagraph (A) for earned import allowance certificates reflecting such number of 

earned credits as the producer or entity may 

request and has available. 

‘‘(C) Any textile mill or other entity located in the United States that exports 

qualifying fabric to an eligible country may 

submit, upon such export or upon request, 

the Shipper’s Export Declaration, or successor documentation, to the Secretary of 

Commerce— 

‘‘(i) verifying that the qualifying fabric 

was exported to a producer or entity controlling production in an eligible country; and 

‘‘(ii) identifying such producer or entity 

controlling production, and the quantity and 

description of qualifying fabric exported to 

such producer or entity controlling production. 

‘‘(D) The Secretary of Commerce may require that a producer or entity controlling 

production submit documentation to verify 

purchases of qualifying fabric. 

‘‘(E) The Secretary of Commerce may 

make available to each person or entity 

identified in the documentation submitted 

under subparagraph (C) or (D) information 

contained in such documentation that relates to the purchase of qualifying fabric involving such person or entity. 

‘‘(F) The program shall be established so as 

to allow, to the extent feasible, the submission, storage, retrieval, and disclosure of information in electronic format, including information with respect to the earned import 

allowance certificates required under subsection (a)(1). 

‘‘(G) The Secretary of Commerce may reconcile discrepancies in the information provided under subparagraph (C) or (D) and 

verify the accuracy of such information. 

‘‘(H) The Secretary of Commerce shall establish procedures to carry out the program 

under this section by September 30, 2008, and 

may establish additional requirements to 

carry out the program. 

‘‘(c) DEFINITIONS.—For purposes of this section— 

‘‘(1) the term ‘appropriate congressional 

committees’ means the Committee on Ways 

and Means of the House of Representatives 

and the Committee on Finance of the Senate; 

‘‘(2) the term ‘eligible apparel articles’ 

means the following articles classified in 

chapter 62 of the HTS (and meeting the requirements of the rules relating to chapter 

62 of the HTS contained in general note 29(n) 

of the HTS) of cotton (but not of denim): 

trousers, bib and brace overalls, breeches and 

shorts, skirts and divided skirts, and pants; 

‘‘(3) the term ‘eligible country’ means the 

Dominican Republic; and 

‘‘(4) the term ‘qualifying fabric’ means 

woven fabric of cotton wholly formed in the 

United States from yarns wholly formed in 

the United States and certified by the producer or entity controlling production as 

being suitable for use in the manufacture of 

apparel items such as trousers, bib and brace 

overalls, breeches and shorts, skirts and divided skirts or pants, all the foregoing of 

cotton, except that— 

‘‘(A) fabric otherwise eligible as qualifying 

fabric shall not be ineligible as qualifying 

fabric because the fabric contains nylon filament yarn with respect to which section 

213(b)(2)(A)(vii)(IV) of the Caribbean Basin 

Economic Recovery Act applies; 

‘‘(B) fabric that would otherwise be ineligible as qualifying fabric because the fabric 

contains yarns not wholly formed in the 

United States shall not be ineligible as 

qualifying fabric if the total weight of all 

such yarns is not more than 10 percent of the 

total weight of the fabric, except that any 

elastomeric yarn contained in an eligible apparel article must be wholly formed in the 

United States; and 

‘‘(C) fabric otherwise eligible as qualifying 

fabric shall not be ineligible as qualifying 

fabric because the fabric contains yarns or 

fibers that have been designated as not commercially available pursuant to— 

‘‘(i) article 3.25(4) or Annex 3.25 of the 

Agreement; 

‘‘(ii) Annex 401 of the North American Free 

Trade Agreement; 

‘‘(iii) section 112(b)(5) of the African 

Growth and Opportunity Act; 

‘‘(iv) section 204(b)(3)(B)(i)(III) or (ii) of the 

Andean Trade Preference Act; 

‘‘(v) section 213(b)(2)(A)(v) or 213A(b)(5)(A) 

of the Caribbean Basin Economic Recovery 

Act; or 

‘‘(vi) any other provision, relating to determining whether a textile or apparel article is 

an originating good eligible for preferential 

treatment, of a law that implements a free 

trade agreement entered into by the United 

States that is in effect at the time the claim 

for preferential treatment is made. 

‘‘(d) REVIEW AND REPORT.— 

‘‘(1) REVIEW.—The United States International Trade Commission shall carry out a 

review of the program under this section annually for the purpose of evaluating the effectiveness of, and making recommendations 

for improvements in, the program. 

‘‘(2) REPORT.—The United States International Trade Commission shall submit to 

the appropriate congressional committees 

annually a report on the results of the review carried out under paragraph (1). 

‘‘(e) EFFECTIVE DATE AND APPLICABILITY.— 

‘‘(1) EFFECTIVE DATE.—The program under 

this section shall be in effect for the 10-year 

period beginning on the date on which the 

President certifies to the appropriate congressional committees that sections A, B, C, 

and D of the Annex to Presidential Proclamation 8213 (December 20, 2007) have taken 

effect. 

‘‘(2) APPLICABILITY.—The program under 

this section shall apply with respect to 

qualifying fabric exported to an eligible 

country on or after August 1, 2007.’’. 

(b) CLERICAL AMENDMENT.—The table of 

contents for the Dominican Republic-Central 

America-United States Free Trade Agreement Implementation Act is amended by inserting after the item relating to section 403 

the following: 

‘‘Sec. 404. Earned import allowance program.’’. 

SEC. 3. AFRICAN GROWTH AND OPPORTUNITY 

ACT. 

(a) IN GENERAL.—Section 112 of the African 

Growth and Opportunity Act (19 U.S.C. 3721) 

is amended— 

(1) in subsection (b)(6)(A), by striking 

‘‘ethic’’ in the second sentence and inserting 

‘‘ethnic’’; and 

(2) in subsection (c)— 

(A) in paragraph (1), by striking ‘‘, and subject to paragraph (2),’’; 

(B) by striking paragraphs (2) and (3); 

(C) in paragraph (4)— 

(i) by striking ‘‘Subsection (b)(3)(C)’’ and 

inserting ‘‘Subsection (b)(3)(B)’’; and 

(ii) by redesignating such paragraph (4) as 

paragraph (2); and 

(D) by striking paragraph (5) and inserting 

the following: 

‘‘(3) DEFINITION.—In this subsection, the 

term ‘lesser developed beneficiary sub-Saharan African country’ means— 

‘‘(A) a beneficiary sub-Saharan African 

country that had a per capita gross national 

product of less than $1,500 in 1998, as measured by the International Bank for Reconstruction and Development; 

‘‘(B) Botswana; 

‘‘(C) Namibia; and 

‘‘(D) Mauritius.’’. 

(b) APPLICABILITY.—The amendments made 

by subsection (a) apply to goods entered, or 

withdrawn from warehouse for consumption, 

on or after the 15th day after the date of the 

enactment of this Act. 

(c) REVIEW AND REPORTS.— 

(1) ITC REVIEW AND REPORT.— 

(A) REVIEW.—The United States International Trade Commission shall conduct a 

review to identify yarns, fabrics, and other 

textile and apparel inputs that through new 

or increased investment or other measures 

can be produced competitively in beneficiary 

sub-Saharan African countries. 


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H10712 CONGRESSIONAL RECORD — HOUSE October 3, 2008 

(B) REPORT.—Not later than 7 months after 

the date of the enactment of this Act, the 

United States International Trade Commission shall submit to the appropriate congressional committees and the Comptroller General a report on the results of the review carried out under subparagraph (A). 

(2) GAO REPORT.—Not later than 90 days 

after the submission of the report under 

paragraph (1)(B), the Comptroller General 

shall submit to the appropriate congressional committees a report that, based on 

the results of the report submitted under 

paragraph (1)(B) and other available information, contains recommendations for 

changes to United States trade preference 

programs, including the African Growth and 

Opportunity Act (19 U.S.C. 3701 et seq.) and 

the amendments made by that Act, to provide incentives to increase investment and 

other measures necessary to improve the 

competitiveness of beneficiary sub-Saharan 

African countries in the production of yarns, 

fabrics, and other textile and apparel inputs 

identified in the report submitted under 

paragraph (1)(B), including changes to requirements relating to rules of origin under 

such programs. 

(3) DEFINITIONS.—In this subsection— 

(A) the term ‘‘appropriate congressional 

committees’’ means the Committee on Ways 

and Means of the House of Representatives 

and the Committee on Finance of the Senate; and 

(B) the term ‘‘beneficiary sub-Saharan African countries’’ has the meaning given the 

term in section 506A(c) of the Trade Act of 

1974 (19 U.S.C. 2466a(c)). 

(d) CLERICAL AMENDMENT.—Section 

6002(a)(2)(B) of Public Law 109–432 is amended 

by striking ‘‘(B) by striking’’ and inserting 

‘‘(B) in paragraph (3), by striking’’. 

SEC. 4. GENERALIZED SYSTEM OF PREFERENCES. 

Section 505 of the Trade Act of 1974 (19 

U.S.C. 2465) is amended by striking ‘‘December 31, 2008’’ and inserting ‘‘December 31, 

2009’’. 

SEC. 5. CUSTOMS USER FEES. 

(a) IN GENERAL.—Section 13031(j)(3) of the 

Consolidated Omnibus Budget Reconciliation 

Act of 1985 (19 U.S.C. 58c(j)(3)) is amended— 

(1) in subparagraph (A), by striking ‘‘November 14, 2017’’ and inserting ‘‘February 14, 

2018’’; and 

(2) in subparagraph (B)(i), by striking ‘‘October 7, 2017’’ and inserting ‘‘January 31, 

2018’’. 

(b) REPEAL.—Section 15201 of the Food, 

Conservation, and Energy Act of 2008 (Public 

Law 110–246) is amended by striking subsections (c) and (d). 

SEC. 6. TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES. 

The percentage under subparagraph (C) of 

section 401(1) of the Tax Increase Prevention 

and Reconciliation Act of 2005 in effect on 

the date of the enactment of this Act is increased by 2 percentage points. 

SEC. 7. TECHNICAL CORRECTIONS. 

Section 15402 of the Food, Conservation, 

and Energy Act of 2008 (Public Law 110–246) 

is amended— 

(1) in subsections (a) and (b), by striking 

‘‘Carribean’’ each place it appears and inserting ‘‘Caribbean’’; and 

(2) in subsection (d), by striking ‘‘231A(b)’’ 

and inserting ‘‘213A(b)’’. 

Mr. LEVIN (during the reading). 

Madam Speaker, I ask unanimous consent that the reading be dispensed 

with. 

The SPEAKER pro tempore. Is there 

objection to the request of the gentleman from Michigan? 

There was no objection. 

The SPEAKER pro tempore. Is there 

objection to the original request of the 

gentleman from Michigan? 

There was no objection. 

A motion to reconsider was laid on 

the table. 

f 

GENERAL LEAVE 

Mr. LEVIN. Madam Speaker, I ask 

unanimous consent that all Members 

may have 5 legislative days to revise 

and extend their remarks and include 

extraneous material on the bill just 

passed by the House. 

The SPEAKER pro tempore. Is there 

objection to the request of the gentleman from Michigan? 

There was no objection. 

f 

EMERGENCY ECONOMIC 

STABILIZATION ACT OF 2008 

Mr. FRANK of Massachusetts. 

Madam Speaker, pursuant to House 

Resolution 1525, I call up from the 

Speaker’s table the bill (H.R. 1424) to 

amend section 712 of the Employee Retirement Income Security Act of 1974, 

section 2705 of the Public Health Service Act, and section 9812 of the Internal 

Revenue Code of 1986 to require equity 

in the provision of mental health and 

substance-related disorder benefits 

under group health plans, and offer the 

motion at the desk. 

The SPEAKER pro tempore. The 

Clerk will report the title of the bill, 

designate the Senate amendments, and 

designate the motion. 

The Clerk read the title of the bill. 

The text of the Senate amendments 

is as follows: 

Strike all after the enacting clause and insert the following: 

DIVISION A—EMERGENCY ECONOMIC 

STABILIZATION 

SECTION 1. SHORT TITLE AND TABLE OF CONTENTS. 

(a) SHORT TITLE.—This division may be cited 

as the ‘‘Emergency Economic Stabilization Act 

of 2008’’. 

(b) TABLE OF CONTENTS.—The table of contents for this division is as follows: 

Sec. 1. Short title and table of contents. 

Sec. 2. Purposes. 

Sec. 3. Definitions. 

TITLE I—TROUBLED ASSETS RELIEF 

PROGRAM 

Sec. 101. Purchases of troubled assets. 

Sec. 102. Insurance of troubled assets. 

Sec. 103. Considerations. 

Sec. 104. Financial Stability Oversight Board. 

Sec. 105. Reports. 

Sec. 106. Rights; management; sale of troubled 

assets; revenues and sale proceeds. 

Sec. 107. Contracting procedures. 

Sec. 108. Conflicts of interest. 

Sec. 109. Foreclosure mitigation efforts. 

Sec. 110. Assistance to homeowners. 

Sec. 111. Executive compensation and corporate 

governance. 

Sec. 112. Coordination with foreign authorities 

and central banks. 

Sec. 113. Minimization of long-term costs and 

maximization of benefits for taxpayers. 

Sec. 114. Market transparency. 

Sec. 115. Graduated authorization to purchase. 

Sec. 116. Oversight and audits. 

Sec. 117. Study and report on margin authority. 

Sec. 118. Funding. 

Sec. 119. Judicial review and related matters. 

Sec. 120. Termination of authority. 

Sec. 121. Special Inspector General for the 

Troubled Asset Relief Program. 

Sec. 122. Increase in statutory limit on the public debt. 

Sec. 123. Credit reform. 

Sec. 124. HOPE for Homeowners amendments. 

Sec. 125. Congressional Oversight Panel. 

Sec. 126. FDIC authority. 

Sec. 127. Cooperation with the FBI. 

Sec. 128. Acceleration of effective date. 

Sec. 129. Disclosures on exercise of loan authority. 

Sec. 130. Technical corrections. 

Sec. 131. Exchange Stabilization Fund reimbursement. 

Sec. 132. Authority to suspend mark-to-market 

accounting. 

Sec. 133. Study on mark-to-market accounting. 

Sec. 134. Recoupment. 

Sec. 135. Preservation of authority. 

Sec. 136. Temporary increase in deposit and 

share insurance coverage. 

TITLE II—BUDGET-RELATED PROVISIONS 

Sec. 201. Information for congressional support 

agencies. 

Sec. 202. Reports by the Office of Management 

and Budget and the Congressional Budget Office. 

Sec. 203. Analysis in President’s Budget. 

Sec. 204. Emergency treatment. 

TITLE III—TAX PROVISIONS 

Sec. 301. Gain or loss from sale or exchange of 

certain preferred stock. 

Sec. 302. Special rules for tax treatment of executive compensation of employers 

participating in the troubled assets relief program. 

Sec. 303. Extension of exclusion of income from 

discharge of qualified principal 

residence indebtedness. 

SEC. 2. PURPOSES. 

The purposes of this Act are— 

(1) to immediately provide authority and facilities that the Secretary of the Treasury can 

use to restore liquidity and stability to the financial system of the United States; and 

(2) to ensure that such authority and such facilities are used in a manner that— 

(A) protects home values, college funds, retirement accounts, and life savings; 

(B) preserves homeownership and promotes 

jobs and economic growth; 

(C) maximizes overall returns to the taxpayers 

of the United States; and 

(D) provides public accountability for the exercise of such authority. 

SEC. 3. DEFINITIONS. 

For purposes of this Act, the following definitions shall apply: 

(1) APPROPRIATE COMMITTEES OF CONGRESS.— 

The term ‘‘appropriate committees of Congress’’ 

means— 

(A) the Committee on Banking, Housing, and 

Urban Affairs, the Committee on Finance, the 

Committee on the Budget, and the Committee on 

Appropriations of the Senate; and 

(B) the Committee on Financial Services, the 

Committee on Ways and Means, the Committee 

on the Budget, and the Committee on Appropriations of the House of Representatives. 

(2) BOARD.—The term ‘‘Board’’ means the 

Board of Governors of the Federal Reserve System. 

(3) CONGRESSIONAL SUPPORT AGENCIES.—The 

term ‘‘congressional support agencies’’ means 

the Congressional Budget Office and the Joint 

Committee on Taxation. 

(4) CORPORATION.—The term ‘‘Corporation’’ 

means the Federal Deposit Insurance Corporation. 

(5) FINANCIAL INSTITUTION.—The term ‘‘financial institution’’ means any institution, including, but not limited to, any bank, savings association, credit union, security broker or dealer, 


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