H.R.5818: Neighborhood Stabilization Act of 2008

Referred to the House Committee on Financial Services.

Committee Consideration and Mark-up Session Held.

Ordered to be Reported (Amended) by the Yeas and Nays: 38 - 26.

Reported (Amended) by the Committee on Financial Services. H. Rept. 110-616.

Placed on the Union Calendar, Calendar No. 383.

Rules Committee Resolution H. Res. 1174 Reported to House. Rule provides for consideration of H.R. 5818. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against the committee amendment in the nature of a substitute are waived except those arising under clause 10 of rule XXI. 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 report of the Committee on Rules accompanying this resolution.

Rule H. Res. 1174 passed House.

Considered under the provisions of rule H. Res. 1174.

Rule provides for consideration of H.R. 5818. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against the committee amendment in the nature of a substitute are waived except those arising under clause 10 of rule XXI. 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 report of the Committee on Rules accompanying this resolution.

House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 1174 and Rule XVIII.

The Speaker designated the Honorable Ellen O. Tauscher to act as Chairwoman of the Committee.

GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 5818.

DEBATE - Pursuant the the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the Waters amendment.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mrs. Capito demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.

DEBATE - Pursuant to the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the Capito amendment.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Capito amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mrs. Capito demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.

Mr. Simpson moved that the Committee rise.

UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption on amendments which had been debated earlier and on which further proceedings had been postponed.

On motion that the Committee rise Failed by recorded vote: 184 - 231 (Roll no. 292).

DEBATE - Pursuant to the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the Mahoney (FL) amendment.

DEBATE - Pursuant to the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the Hensarling amendment.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hensarling demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.

DEBATE - Pursuant to the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the Kucinich amendment.

DEBATE - Pursuant to the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the McCotter amendment.

DEBATE - Pursuant to the provisions of H. Res. 1174, the Committee of the Whole proceeded with ten minutes of debate on the Altmire amendment.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Altmire amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Altmire demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.

Ms. Waters moved that the Committee rise.

On motion that the Committee rise Agreed to by voice vote.

Committee of the Whole House on the state of the Union rises leaving H.R. 5818 as unfinished business.

Considered as unfinished business.

The House resolved into Committee of the Whole House on the state of the Union for further consideration.

POINT OF ORDER - Mr. Westmoreland made a point of order that roll call 295 was held open for the sole purpose of changing the outcome. The Chair ruled that the most effective remedy was raising a question of privilege of the House as opposed to a point of order.

Mr. Westmoreland appealed the ruling of the Chair. The question was then put on sustaining the ruling of the Chair.

On sustaining the ruling of the Chair. Agreed to by recorded vote: 235 - 182, 6 Present (Roll no. 296).

The House rose from the Committee of the Whole House on the state of the Union to report H.R. 5818.

The previous question was ordered pursuant to the rule.

The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.

Mr. Shadegg moved to recommit with instructions to Financial Services.

DEBATE - The House proceeded with 10 minutes of debate on the Shadegg motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with sundry amendments.

The previous question on the motion to recommit with instructions was ordered without objection.

On motion to recommit with instructions Failed by recorded vote: 210 - 216 (Roll no. 298).

On passage Passed by recorded vote: 239 - 188 (Roll no. 299).

Motion to reconsider laid on the table Agreed to without objection.

The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 5818.

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.