/  H.R. 3189—FORM Act of 2015

H.R. 3189 - FORM Act of 2015

Bill Text

  • Rules Committee Print 114-35 PDF XML

    Showing the texts of H.R. 3189 and H.R. 2912 as ordered reported by the Committee on Financial Services.

    Summary of Modifications in Rules Committee Print of H.R. 3189: Rules Committee Print 114-35 adds a new section 16, which contains the text of H.R. 2912, as ordered reported with technical and conforming changes. H.R. 2912 establishes a commission to examine how monetary policy has affected economic performance throughout the Federal Reserve's history, to consider the merits of various monetary policy regimes, and to examine the Fed's roles as macroprudential supervisor and regulator, as well as the Fed’s lender-of-last-resort function. 

  • Text of H.R. 3189 PDF XML

    FORM Act of 2015 (as introduced)

  • H. Rept. 114-332 Part 1 PDF

    Report from the Committee on Financial Services to accompany H.R. 3189 

  • H. Rept. 114-331 PDF

    Report from the Committee on Financial Services to accompany H.R. 2912

Rule Information

COMMITTEE ACTION:
REPORTED BY RECORD VOTE of 7-1 on Tuesday, November 17, 2015.

FLOOR ACTION ON H. RES. 529: 
Agreed to by record vote of 243-184, on Wednesday, November 18, 2015.

MANAGERS:Stivers/Hastings

1. Structured rule for H.R. 1210.

2. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.

3. Waives all points of order against consideration of the bill.

4. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-34 shall be considered as adopted and the bill, as amended, shall be considered as read.

5. Waives all points of order against provisions in the bill, as amended.

6. Makes in order only the amendment to H.R. 1210 printed in part A of the Rules Committee report, if offered by Representative Norcross of New Jersey, or his designee, which shall be considered as read, shall be debatable for 10 minutes 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.

7. Waives all points of order against the amendment printed in part A of the report.

8. Provides one motion to recommit with or without instructions.

9. Structured rule for H.R. 3189.

10. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.

11. Waives all points of order against consideration of the bill.

12. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-35, modified by the amendment printed in part B of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.

13. Waives all points of order against provisions in the bill, as amended.

14. Makes in order only those further amendments to H.R. 3189 printed in part C of the Rules Committee report. 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.

15. Waives all points of order against the amendments printed in part C of the report.

16. Provides one motion to recommit with or without instructions.

17. Section 3 provides that on any legislative day during the period from November 20, 2015, through November 27, 2015: the Journal of the proceedings of the previous day shall be considered as approved; and the Chair may at any time declare the House adjourned to meet at a date and time to be announced by the Chair in declaring the adjournment.

18. Section 4 provides that the Speaker may appoint Members to perform the duties of the Chair for the duration of the period addressed by section 3.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
1Version 1Grayson (FL)DemocratIncreases independence of individual Governors and bringing transparency to votes on enforcement actions over one million dollars. Submitted
2Version 1Grayson (FL)DemocratReverses the limitation on FOIA requests to agencies responsible for the regulation or supervision of financial institutions. Submitted
3Version 2Grayson (FL)DemocratRevised Halts megabank bailouts during a financial crisis by responsibly limiting the Federal Reserve’s lending authority. It would also close a loophole that creates risk-taking exemptions for megabanks.Submitted
4Version 1Grayson (FL)DemocratProvides for an annual audit of the Federal Reserve. Made In Order
5Version 1Grayson (FL)DemocratEstablishes three new Federal Reserve districts: one for Northern California (located in San Francisco); one for Southern California (located in Los Angeles); and one for Florida (located in Orlando). Made In Order
7Version 1Heck, Denny (WA)DemocratLate Suspends the requirement for rules-based decisionmaking when unemployment or inflation significantly diverges from targets.Made In Order
8Version 1Heck, Denny (WA)DemocratLate Requires FOMC to use fully revised data rather than the initial readings that are first available.Made In Order
12Version 1Hensarling (TX)RepublicanLate Executes a liquidation of the Federal Reserve surplus account and remittance of funds to the U.S. Treasury. Dissolves the existence of the surplus account on a go-forward basis. Ensures future net earnings of the Federal Reserve, in excess of dividend paid, are remitted to the U.S. Treasury. Strikes a superfluous date from the text of H.R. 2912 as printed in Rules Committee Print 114-35 and strikes a “such sums” authorization of appropriations. Considered As Adopted
9Version 1King, Steve (IA)RepublicanLate Requires the FOMC to make public the full transcriptions of their meetings.Made In Order
10Version 1King, Steve (IA)RepublicanLate Grants committees of jurisdiction the right to participate in FOMC meetings.Submitted
11Version 2King, Steve (IA)RepublicanLate Revised Requires study of the effects of the GDP output section of the "dual mandate" on the US economy, Fed Actions, and federal debt.Made In Order
6Version 2Norcross (NJ)DemocratRevised Directs the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to make every effort in conducting monetary policy, to protect the business interests of the United States against foreign entities that engage in currency manipulation.Submitted