H. Res. 453 
In the House of Representatives, U. S., 
November 3, 2011. 
Resolved, That at any time after the adoption of this res-
olution the Speaker may, pursuant to clause 2(b) of rule 
XVIII, declare the House resolved into the Committee of the 
Whole House on the state of the Union for consideration of 
the bill (H.R. 2930) to amend the securities laws to provide 
for registration exemptions for certain crowdfunded securi-
ties, and for other purposes. The first reading of the bill shall 
be dispensed with. All points of order against consideration 
of the bill are waived. General debate shall be confined to the 
bill and shall not exceed one hour equally divided and con-
trolled by the chair and ranking minority member of the 
Committee on Financial Services. After general debate the 
bill shall be considered for amendment under the five-minute 
rule. It shall be in order to consider as an original bill for 
the purpose of amendment under the five-minute rule the 
amendment recommended by the Committee on Financial 
Services now printed in the bill. The committee amendment 
in the nature of a substitute shall be considered as read. All
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points of order against the committee amendment in the na-
ture of a substitute are waived. No amendment to the com-
mittee amendment in the nature of a substitute shall be in 
order except those printed in part A of the report of the 
Committee on Rules accompanying this resolution. Each such 
amendment may be offered only in the order printed in the 
report, may be offered only by a Member designated in the 
report, shall be considered as read, shall be debatable for the 
time specified in the report equally divided and controlled by 
the proponent and an opponent, shall not be subject to 
amendment, and shall not be subject to a demand for division 
of the question in the House or in the Committee of the 
Whole. All points of order against such amendments are 
waived. At the conclusion of consideration of the bill for 
amendment the Committee shall rise and report the bill to 
the House with such amendments as may have been adopted. 
Any Member may demand a separate vote in the House on 
any amendment adopted in the Committee of the Whole to 
the bill or to the committee amendment in the nature of a 
substitute. The previous question shall be considered as or-
dered on the bill and amendments thereto to final passage 
without intervening motion except one motion to recommit 
with or without instructions. 
SEC. 2. Upon the adoption of this resolution it shall be 
in order to consider in the House the bill (H.R. 2940) to di-
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rect the Securities and Exchange Commission to eliminate 
the prohibition against general solicitation as a requirement 
for a certain exemption under Regulation D. All points of 
order against consideration of the bill are waived. The 
amendment in the nature of a substitute recommended by the 
Committee on Financial Services now printed in the bill shall 
be considered as adopted. The bill, as amended, shall be con-
sidered as read. All points of order against provisions in the 
bill, as amended, are waived. The previous question shall be 
considered as ordered on the bill, as amended, and on any 
further amendment thereto, to final passage without inter-
vening motion except: (1) one hour of debate equally divided 
and controlled by the chair and ranking minority member of 
the Committee on Financial Services; (2) the further amend-
ment printed in part B of the report of the Committee on 
Rules accompanying this resolution, if offered by Representa-
tive Miller of North Carolina or his designee, which shall be 
in order without intervention of any point of order, shall be 
considered as read, and shall be separately debatable for 10 
minutes equally divided and controlled by the proponent and