H.R.1664: To amend the executive compensation provisions of the Emergency Economic Stabilization Act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance standards.

Sponsor introductory remarks on measure.

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 - 22.

Reported (Amended) by the Committee on Financial Services. H. Rept. 111-64.

Placed on the Union Calendar, Calendar No. 28.

Rules Committee Resolution H. Res. 306 Reported to House. Rule provides for consideration of H.R. 1664 with 1 hour of general debate. 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 consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.

Rule H. Res. 306 passed House.

Considered under the provisions of rule H. Res. 306.

Rule provides for consideration of H.R. 1664 with 1 hour of general debate. 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 consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.

House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 306 and Rule XVIII.

The Speaker designated the Honorable Jesse L. Jackson Jr. to act as Chairman of the Committee.

GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1664.

DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 20 minutes of debate on the Frank amendment.

DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Cardoza amendment.

DEBATE - Pursuant ot the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Meeks (NY) amendment.

DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Bean amendment.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Bean amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Ms. Bean 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. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Bilirakis amendment.

DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the DeFazio amendment.

DEBATE - Pursuant to the provisions of H.Res. 306, the Committee of the Whole proceeded with 10 minutes of debate on the Dahlkemper amendment.

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

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

The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1664.

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.

On passage Passed by recorded vote: 247 - 171, 1 Present (Roll no. 182).

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

Received in the Senate.

Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 50.