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115th Congress      }                                {         Report
                        HOUSE OF REPRESENTATIVES
 1st Session        }                                {          115-2

======================================================================

 
PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 5) TO REFORM THE PROCESS 
  BY WHICH FEDERAL AGENCIES ANALYZE AND FORMULATE NEW REGULATIONS AND 
GUIDANCE DOCUMENTS, TO CLARIFY THE NATURE OF JUDICIAL REVIEW OF AGENCY 
 INTERPRETATIONS, TO ENSURE COMPLETE ANALYSIS OF POTENTIAL IMPACTS ON 
  SMALL ENTITIES OF RULES, AND FOR OTHER PURPOSES, AND PROVIDING FOR 
   CONSIDERATION OF THE BILL (H.R. 79) TO CLARIFY THE DEFINITION OF 
           GENERAL SOLICITATION UNDER FEDERAL SECURITIES LAW

                                _______
                                

  January 9, 2017.--Referred to the House Calendar and ordered to be 
                                printed

                                _______
                                

         Mr. Collins of Georgia, from the Committee on Rules, 
                        submitted the following

                              R E P O R T

                       [To accompany H. Res. 33]

    The Committee on Rules, having had under consideration 
House Resolution 33, by a nonrecord vote, report the same to 
the House with the recommendation that the resolution be 
adopted.

                SUMMARY OF PROVISIONS OF THE RESOLUTION

    The resolution provides for consideration of H.R. 5, the 
Regulatory Accountability Act of 2017, under a structured rule. 
The rule provides one hour of general debate equally divided 
and controlled by the Majority Leader and the Minority Leader 
or their respective designees. The resolution waives all points 
of order against consideration of the bill. The resolution 
provides that the bill shall be considered as read. The 
resolution waives all points of order against provisions in the 
bill. The resolution makes in order only those amendments 
printed in part A of this report. Each such amendment may be 
offered only in the order printed in this report, may be 
offered only by a Member designated in this report, shall be 
considered as read, shall be debatable for the time specified 
in this 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. The resolution waives 
all points of order against the amendments printed in part A of 
this report. The rule provides one motion to recommit with or 
without instructions.
    Section 2 of the resolution provides for consideration of 
H.R. 79, the HALOS Act, under a structured rule. The resolution 
provides one hour of general debate equally divided and 
controlled by the chair and ranking minority member of the 
Committee on Financial Services or their respective designees. 
The resolution waives all points of order against consideration 
of the bill. The resolution provides that the bill shall be 
considered as read. The resolution waives all points of order 
against provisions in the bill. The resolution makes in order 
only those amendments printed in part B of this report. Each 
such amendment may be offered only in the order printed in this 
report, may be offered only by a Member designated in this 
report, shall be considered as read, shall be debatable for the 
time specified in this 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. The 
resolution waives all points of order against the amendments 
printed in part B of this report. The resolution provides one 
motion to recommit with or without instructions.

                         EXPLANATION OF WAIVERS

    Although the resolution waives all points of order against 
consideration of H.R. 5, the Committee is not aware of any 
points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
provisions in H.R. 5, the Committee is not aware of any points 
of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
the amendments to H.R. 5 printed in part A of this report, the 
Committee is not aware of any points of order. The waiver is 
prophylactic in nature.
    Although the resolution waives all points of order against 
consideration of H.R. 79, the Committee is not aware of any 
points of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
provisions in H.R. 79, the Committee is not aware of any points 
of order. The waiver is prophylactic in nature.
    Although the resolution waives all points of order against 
the amendments to H.R. 79 printed in part B of this report, the 
Committee is not aware of any points of order. The waiver is 
prophylactic in nature.

                            COMMITTEE VOTES

    The results of each record vote on an amendment or motion 
to report, together with the names of those voting for and 
against, are printed below:

Rules Committee record vote No. 7

    Motion by Ms. Slaughter to report open rules for H.R. 5 and 
H.R. 79 Defeated: 3-8

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Mr. Cole........................................          Nay   Ms. Slaughter.....................          Yea
Mr. Woodall.....................................          Nay   Mr. McGovern......................          Yea
Mr. Burgess.....................................          Nay   Mr. Hastings of Florida...........          Yea
Mr. Collins.....................................  ............  Mr. Polis.........................  ............
Mr. Byrne.......................................          Nay
Mr. Newhouse....................................          Nay
Mr. Buck........................................          Nay
Ms. Cheney......................................          Nay
Mr. Sessions, Chairman..........................          Nay
----------------------------------------------------------------------------------------------------------------

      SUMMARY OF THE AMENDMENTS TO H.R. 5 IN PART A MADE IN ORDER

    1. Goodlatte (VA): Revises section 2 of title II of the 
bill to restrain unwarranted interpretation of ambiguous 
statutes to find implied delegations of legislative rulemaking 
authority, and of ambiguous statutes and regulations to 
expansively extend agency authority. (10 minutes)
    2. Chaffetz (UT): Establishes a timeline by which the 
Office of Information and Regulatory Affairs must issue 
guidelines under title I of the bill. (10 minutes)
    3. Chabot (OH): Requires an agency to include an economic 
assessment or a summary of it when an agency certifies that a 
proposed rule will not have a ``significant economic impact on 
a substantial number of small entities'' under the Regulatory 
Flexibility Act. This will ensure an agency's decision to 
certify a rule and not conduct a full regulatory flexibility 
analysis is supported by data. (10 minutes)
    4. Velazquez (NY): Strikes Title III of the bill and 
replaces it with alternative language that reforms the 
Regulatory Flexibility Act to reduce the burden of regulations 
on small businesses. (10 minutes)
    5. Peterson (MN), Goodlatte (VA), Chaffetz (UT): Prohibits 
agencies from impartially communicating with the public in 
order to generate support or opposition to a proposed rule. (10 
minutes)
    6. Graves, Garret (LA), Cuellar (TX), Babin (TX): Provides 
agency accountability of major rules by requiring retrospective 
review and report. (10 minutes)
    7. Young, David (IA): Allows for sufficient time (at least 
90 days) for affected entities to take steps to comply with 
issued guidance (10 minutes)
    8. Castor (FL): Ensures that any rule intended to protect 
public health and welfare is exempted from the requirements of 
this act. (10 minutes)
    9. Cicilline (RI): Provides for the prevention of the 
transmission of foodborne illness or to meet preventive-control 
requirements for food safety (10 minutes)
    10. Johnson, Hank (GA): Exempts rules that significantly 
improve the employment, retention, and wages of workforce 
participants, especially those with significant barriers to 
employment, such as persons with disabilities or limited 
English proficiency. (10 minutes)
    11. Ruiz (CA): Exempts rules pertaining to the safety of 
children's products or toys. (10 minutes)
    12. Scott, Bobby (VA): Exempts from this bill a rule which 
pertains to workplace health and safety and that is necessary 
to prevent or reduce the incidence of traumatic injury, cancer 
or irreversible lung disease at mining facilities which are 
subject to the Federal Mine Safety and Health Act of 1977 (30 
USC 801, et seq) or workplaces which are subject to the 
Occupational Safety and Health Act (29 USC 651 et seq). (10 
minutes)
    13. Tonko (NY): Ensures that any rules made under the 
``Frank R. Lautenberg Chemical Safety for the 21st Century 
Act,'' are exempted from this act. (10 minutes)
    14. Grijalva (AZ): Strikes language that would require the 
Forest Service and the Bureau of Land Management to perform 
regulatory flexibility analyses for forest and land management 
plans. (10 minutes)
    15. Nadler (NY): Requires analyses conducted under Title 
III of the bill to include direct and indirect benefits as well 
as direct and indirect costs. (10 minutes)
    16. Posey (FL): Requires federal agencies to report on 
influential scientific information and associated peer reviews 
disseminated or to be disseminated in a rulemaking proceeding. 
(10 minutes)

      SUMMARY OF THE AMENDMENTS TO H.R. 79 IN PART B MADE IN ORDER

    1. Velazquez (NY): Requires the event sponsor to provide 
attendees with a written disclosure outlining the nature of the 
event and the risks of investing in the securities for sale. It 
would also clarify that attendance at an event does not in 
itself establish a pre-existing relationship for purposes of 
Rule 506(b). (10 minutes)
    2. Waters (CA): Limits the types of fees ``demo day'' 
sponsors can collect and requires an issuer to be a real 
business. (10 minutes)

           PART A--TEXT OF AMENDMENTS TO H.R. 5 MADE IN ORDER

 1. An Amendment To Be Offered by Representative Goodlatte of Virginia 
               or His Designee, Debatable for 10 Minutes

  Page 39, line 3, insert after ``made by agencies.'' the 
following: ``If the reviewing court determines that a statutory 
or regulatory provision relevant to its decision contains a gap 
or ambiguity, the court shall not interpret that gap or 
ambiguity as an implicit delegation to the agency of 
legislative rule making authority and shall not rely on such 
gap or ambiguity as a justification either for interpreting 
agency authority expansively or for deferring to the agency's 
interpretation on the question of law.''.
                              ----------                              


2. An Amendment To Be Offered by Representative Chaffetz of Utah or His 
                   Designee, Debatable for 10 Minutes

  Page 38, insert after line 10 the following:

SEC. 110. PROMPT ISSUANCE OF OIRA GUIDELINES.

  The Administrator of the Office of Information and Regulatory 
Affairs of the Office of Management and Budget shall establish 
any guideline required to be established by this title or the 
amendments made by this title by not later than 270 days after 
the date of enactment of this title.
                              ----------                              


 3. An Amendment To Be Offered by Representative Chabot of Ohio or His 
                   Designee, Debatable for 10 Minutes

  In section 304(d)(1) of the bill, strike ``and'' at the end.
  In section 304(d)(2) of the bill, strike the period and 
insert ``; and''.
  In section 304(d), insert after paragraph (2) the following:
          (3) by inserting ``The detailed statement shall 
        include an economic assessment or a summary thereof 
        that is sufficiently detailed to support the agency's 
        certification.'' before ``The agency shall provide such 
        certification''.
                              ----------                              


 4. An Amendment To Be Offered by Representative Velazquez of New York 
               or Her Designee, Debatable for 10 Minutes

  Strike line 13 on page 39 and all that follows through line 
26 on page 69, and insert the following (and conform the table 
of contents accordingly):

          TITLE III--SMALL BUSINESS REGULATORY IMPROVEMENT ACT

SEC. 301. SHORT TITLE.

  This title may be cited as the ``Small Business Regulatory 
Improvement Act of 2017''.

SEC. 302. CLARIFICATION AND EXPANSION OF RULES COVERED BY THE 
                    REGULATORY FLEXIBILITY ACT.

  Section 601 of title 5, United States Code, is amended by 
adding at the end the following new paragraph:
          ``(9) Economic impact.--The term `economic impact' 
        means, with respect to a proposed or final rule--
                  ``(A) any direct economic effect on small 
                entities of such rule; and
                  ``(B) any indirect economic effect on small 
                entities which is reasonably foreseeable and 
                results from such rule (without regard to 
                whether small entities will be directly 
                regulated by the rule).''.

SEC. 303. REQUIREMENTS PROVIDING FOR MORE DETAILED ANALYSES.

  (a) Initial Regulatory Flexibility Analysis.--Subsection (b) 
of section 603 of title 5, United States Code, is amended to 
read as follows:
  ``(b) Each initial regulatory flexibility analysis required 
under this section shall contain a detailed statement 
describing--
          ``(1) the reasons why the action by the agency is 
        being considered;
          ``(2) the objectives of, and legal basis for, the 
        proposed rule;
          ``(3) the type of small entities to which the 
        proposed rule will apply;
          ``(4) the number of small entities to which the 
        proposed rule will apply or why such estimate is not 
        available;
          ``(5) the projected reporting, recordkeeping, and 
        other compliance requirements of the proposed rule, 
        including an estimate of the classes of small entities 
        which will be subject to the requirement, the costs, 
        and the type of professional skills necessary to comply 
        with the rule; and
          ``(6) all relevant Federal rules which may duplicate, 
        overlap, or conflict with the proposed rule, or the 
        reasons why such a description could not be 
        provided.''.
  (b) Final Regulatory Flexibility Analysis.--
          (1) Paragraph (4) of such section is amended by 
        striking ``an explanation'' and inserting ``a detailed 
        explanation''.
          (2) Paragraph (5) of such section is amended to read 
        as follows:
          ``(4) a description of the projected reporting, 
        recordkeeping, and other compliance requirements of the 
        rule, including an estimate of the classes of small 
        entities which will be subject to the requirement, the 
        costs, and the type of professional skills necessary to 
        comply with the rule; and''.
  (c) Certification of No Impact.--Subsection (b) of section 
605 of title 5, United States Code, is amended by inserting 
``detailed'' before ``statement'' both places such term 
appears.

SEC. 304. PERIODIC REVIEW OF RULES.

  Section 610 of title 5, United States Code, is amended to 
read as follows:

``Sec. 610. Periodic review of rules

  ``(a) Not later than 180 days after the effective date of 
this section, each agency shall publish in the Federal Register 
and place on its website a plan for the periodic review of 
rules issued by the agency which the head of the agency 
determines have a significant economic impact on a substantial 
number of small entities. Such determination shall be made 
without regard to whether the agency performed an analysis 
under section 604. The purpose of the review shall be to 
determine whether such rules should be continued without 
change, or should be amended or rescinded, consistent with the 
stated objectives of applicable statutes, to minimize 
significant economic impacts on a substantial number of small 
entities. Such plan may be amended by the agency at any time by 
publishing the revision in the Federal Register and 
subsequently placing the amended plan on the agency's website.
  ``(b) The plan shall provide for the review of all such 
agency rules existing on the effective date of this section 
within 10 years of the date of publication of the plan in the 
Federal Register and for review of rules adopted after the 
effective date of this section within 10 years after the 
publication of the final rule in the Federal Register. If the 
head of the agency determines that completion of the review of 
existing rules is not feasible by the established date, the 
head of the agency shall so certify in a statement published in 
the Federal Register and may extend the review for not longer 
than 2 years after publication of notice of extension in the 
Federal Register. Such certification and notice shall be sent 
to the Chief Counsel for Advocacy and the Congress.
  ``(c) Each agency shall annually submit a report regarding 
the results of its review pursuant to such plan to the Congress 
and, in the case of agencies other than independent regulatory 
agencies (as defined in section 3502(5) of title 44, United 
States Code) to the Administrator of the Office of Information 
and Regulatory Affairs of the Office of Management and Budget. 
Such report shall include the identification of any rule with 
respect to which the head of the agency made a determination 
described in paragraph (5) or (6) of subsection (d) and a 
detailed explanation of the reasons for such determination.
  ``(d) In reviewing rules under such plan, the agency shall 
consider the following factors:
          ``(1) The continued need for the rule.
          ``(2) The nature of complaints received by the agency 
        from small entities concerning the rule.
          ``(3) Comments by the Regulatory Enforcement 
        Ombudsman and the Chief Counsel for Advocacy.
          ``(4) The complexity of the rule.
          ``(5) The extent to which the rule overlaps, 
        duplicates, or conflicts with other Federal rules and, 
        unless the head of the agency determines it to be 
        infeasible, State and local rules.
          ``(6) The length of time since the rule has been 
        evaluated or the degree to which technology, economic 
        conditions, or other factors have changed in the area 
        affected by the rule.
  ``(e) The agency shall publish in the Federal Register and on 
its website a list of rules to be reviewed pursuant to such 
plan. Such publication shall include a brief description of the 
rule, the reason why the agency determined that it has a 
significant economic impact on a substantial number of small 
entities (without regard to whether it had prepared a final 
regulatory flexibility analysis for the rule), and request 
comments from the public, the Chief Counsel for Advocacy, and 
the Regulatory Enforcement Ombudsman concerning the enforcement 
of the rule.''.

SEC. 305. CHANGES TO THE REGULATORY FLEXIBILITY ACT TO COMPORT WITH 
                    EXECUTIVE ORDER 13272.

  (a) Initial Regulatory Flexibility Analysis.--Section 603 of 
title 5, United States Code, is amended by adding at the end 
the following:
  ``(e) An agency shall notify the Chief Counsel for Advocacy 
of the Small Business Administration of any draft rules that 
may have a significant economic impact on a substantial number 
of small entities either--
          ``(1) when the agency submits a draft rule to the 
        Office of Information and Regulatory Affairs at the 
        Office of Management and Budget, if submission is 
        required; or
          ``(2) if no submission to the Office of Information 
        and Regulatory Affairs is so required, at a reasonable 
        time prior to publication of the rule by the agency.''.
  (b) Inclusion in Final Regulatory Flexibility Analysis of 
Response to Comments on Certification of Proposed Rule.--
Paragraph (2) of section 604(a) of title 5, United States Code, 
is amended by inserting after ``initial regulatory flexibility 
analysis'' the following: ``(or certification of the proposed 
rule under section 605(b))''.
                              ----------                              


 5. An Amendment To Be Offered by Representative Peterson of Minnesota 
               or His Designee, Debatable for 10 Minutes

  Page 18, insert after line 8 the following:
  ``(5) After notice or advance notice of a proposed rule 
making, the agency making the rule, and any person acting in an 
official capacity on behalf of the agency, may not communicate, 
and a person who receives Federal funds from the agency may not 
use those funds to communicate, through written, oral, 
electronic, or other means to the public about the proposed 
rule in a manner that--
          ``(A) directly advocates, in support of or against 
        the proposed rule, for the submission of information to 
        form part of the record of review for the proposed 
        rule;
          ``(B) appeals to the public, or solicits a third-
        party, to undertake advocacy in support of or against 
        the proposed rule; or
          ``(C) is directly or indirectly for publicity or 
        propaganda purposes within the United States not 
        heretofore authorized by the Congress.
Such prohibition shall not apply to communication that requests 
comments or provides information regarding the rule in an 
impartial manner.''.
                              ----------                              


6. An Amendment To Be Offered by Representative Graves of Louisiana or 
                 His Designee, Debatable for 10 Minutes

  Page 23, line 24, strike ``and''.
  Page 24, insert after line 5 the following:
                  ``(iii) in the case of a major rule, a report 
                on the benefits and costs of the final rule on 
                entities whose conduct is regulated by the rule 
                in the Federal Register, to be revised every 5 
                years thereafter while the rule remains in 
                effect, and including, at a minimum--
                          ``(I) an assessment of the impacts, 
                        including any costs, of the major rule 
                        on regulated entities;
                          ``(II) a determination about how the 
                        actual benefits and costs of the major 
                        rule have varied from those anticipated 
                        at the time the major rule was issued;
                          ``(III) an assessment of the 
                        effectiveness and benefits of the major 
                        rule in producing the regulatory 
                        objectives of the major rule; and
                          ``(IV) a review by the Administrator 
                        of the Office of Information and 
                        Regulatory Affairs of the Office of 
                        Management and Budget when required 
                        under executive order; and''.
  Page 30, line 16, insert after ``the Federal Open Market 
Committee.'' the following:
  ``(n) Regulation-specific Frameworks.--
          ``(1) Report to congress.--The agency shall provide a 
        report to Congress not later than 90 days after the 
        agency makes any determination under subsection 
        (f)(4)(I)(iii)(II) that the cost to regulated entities 
        has exceeded the anticipated cost at the time the final 
        rule was issued. The agency, at a minimum, shall assess 
        in the report--
                  ``(A) whether the major rule is accomplishing 
                its regulatory objective; and
                  ``(B) whether the major rule has been 
                rendered unnecessary, taking into 
                consideration--
                          ``(i) changes in the subject area 
                        affected by the major rule;
                          ``(ii) whether the major rule 
                        overlaps, duplicates, or conflicts with 
                        other rules or, to the extent feasible, 
                        State and local government regulations; 
                        and
                          ``(iii) other alternatives to the 
                        major rule or modification of the major 
                        rule that might achieve better results 
                        while imposing a smaller burden on 
                        society or at a lower cost, taking into 
                        consideration any cost already 
                        incurred.
          ``(2) Reopening of public docket.--Upon delivery of 
        the report required in paragraph (1) the agency shall--
                  ``(A) reopen the public docket for 60 days to 
                receive additional comments; and
                  ``(B) consider modifications or alternatives 
                that reduce costs and increase benefits to 
                regulated entities or individuals.
          ``(3) Rule of construction.--Nothing in this 
        subsection may be construed to affect any other 
        provision of law that requires an agency to conduct 
        retrospective reviews of rules issued by the agency.''.
                              ----------                              


 7. An Amendment To Be Offered by Representative Young of Iowa or His 
                   Designee, Debatable for 10 Minutes

  Page 33, line 10, strike ``agencies and'' and insert 
``agencies,''.
  Page 33, line 11, insert after ``easy to understand,'' the 
following: ``and issues guidance in a manner sufficient to 
provide at least 90 days for affected entities to take steps to 
comply with such guidance,''.
                              ----------                              


 8. An Amendment To Be Offered by Representative Castor of Florida or 
                 Her Designee, Debatable for 10 Minutes

  Page 36, strike line 10 and all that follows through page 37, 
line 9.
  Page 38, strike line 11 and all that follows through page 39, 
line 12.
  Add, at the end of the bill, the following (and conform the 
table of contents accordingly):

                 TITLE VII--EXCEPTION FOR CERTAIN RULES

SEC. 701. EXCEPTION FOR CERTAIN RULES.

  This Act, and the amendments made by this Act, shall not 
apply in the case of a rule (as such term is defined in section 
551 of title 5, United States Code) that will result in a 
reduced incidence of cancer, premature mortality, asthma 
attacks, or respiratory disease in children or seniors. The 
provisions of law amended by this Act, as in effect on the day 
before the date of the enactment of this Act, shall apply to 
such rules.
                              ----------                              


  9. An Amendment To Be Offered by Representative Cicilline of Rhode 
            Island or His Designee, Debatable for 10 Minutes

  Page 36, strike line 10 and all that follows through page 37, 
line 9.
  Page 38, strike line 11 and all that follows through page 39, 
line 12.
  Add, at the end of the bill, the following (and conform the 
table of contents accordingly):

                 TITLE VII--EXCEPTION FOR CERTAIN RULES

SEC. 701. EXCEPTION FOR CERTAIN RULES.

  This Act, and the amendments made by this Act, shall not 
apply in the case of a rule (as such term is defined in section 
551 of title 5, United States Code) pertaining to the 
prevention of the transmission of foodborne illness or 
assistance to domestic and foreign food facilities to meet 
preventive-control requirements for safety, such as hazard 
prevention practices in human and animal food processing, 
packing, and storage facilities. The provisions of law amended 
by this Act, as in effect on the day before the date of the 
enactment of this Act, shall apply to such rules.
                              ----------                              


10. An Amendment To Be Offered by Representative Johnson of Georgia or 
                 His Designee, Debatable for 10 Minutes

  Page 36, strike line 10 and all that follows through page 37, 
line 9.
  Page 38, strike line 11 and all that follows through page 39, 
line 12.
  Add, at the end of the bill, the following (and conform the 
table of contents accordingly):

                 TITLE VII--EXCEPTION FOR CERTAIN RULES

SEC. 701. EXCEPTION FOR CERTAIN RULES.

  This Act, and the amendments made by this Act, shall not 
apply in the case of a rule (as such term is defined in section 
551 of title 5, United States Code) pertaining to significantly 
improving the employment, retention, and wages of workforce 
participants, especially those with significant barriers to 
employment, such as persons with disabilities or limited 
English proficiency. The provisions of law amended by this Act, 
as in effect on the day before the date of the enactment of 
this Act, shall apply to such rules.
                              ----------                              


11. An Amendment To Be Offered by Representative Ruiz of California or 
                 His Designee, Debatable for 10 Minutes

  Page 36, strike line 10 and all that follows through page 37, 
line 9.
  Page 38, strike line 11 and all that follows through page 39, 
line 12.
  Add, at the end of the bill, the following (and conform the 
table of contents accordingly):

                 TITLE VII--EXCEPTION FOR CERTAIN RULES

SEC. 701. EXCEPTION FOR CERTAIN RULES.

  This Act, and the amendments made by this Act, shall not 
apply in the case of a rule (as such term is defined in section 
551 of title 5, United States Code) pertaining to the safety of 
children's products or toys. The provisions of law amended by 
this Act, as in effect on the day before the date of the 
enactment of this Act, shall apply to such rules.
                              ----------                              


 12. An Amendment To Be Offered by Representative Scott of Virginia or 
                 His Designee, Debatable for 10 Minutes

  Page 36, strike line 10 and all that follows through page 37, 
line 9.
  Page 38, strike line 11 and all that follows through page 39, 
line 12.
  Add, at the end of the bill, the following (and conform the 
table of contents accordingly):

                 TITLE VII--EXCEPTION FOR CERTAIN RULES

SEC. 701. EXCEPTION FOR CERTAIN RULES.

  This Act, and the amendments made by this Act, shall not 
apply in the case of a rule (as such term is defined in section 
551 of title 5, United States Code) pertaining to workplace 
health or safety at mining facilities which are subject to the 
Federal Mine Safety and Health Act of 1977 (30 U.S.C. 801 et 
seq.) or workplaces which are subject to the Occupational 
Safety and Health Act of 1970 (29 U.S.C. 651 et seq.), and 
which is necessary to prevent or reduce the incidence of work-
related traumatic injury, cancer, or irreversible lung disease. 
The provisions of law amended by this Act, as in effect on the 
day before the date of the enactment of this Act, shall apply 
to such rules.
                              ----------                              


 13. An Amendment To Be Offered by Representative Tonko of New York or 
                 His Designee, Debatable for 10 Minutes

  Page 36, strike line 10 and all that follows through page 37, 
line 9.
  Page 38, strike line 11 and all that follows through page 39, 
line 12.
  Add, at the end of the bill, the following (and conform the 
table of contents accordingly):

                 TITLE VII--EXCEPTION FOR CERTAIN RULES

SEC. 701. EXCEPTION FOR CERTAIN RULES.

  This Act, and the amendments made by this Act, shall not 
apply in the case of a rule (as such term is defined in section 
551 of title 5, United States Code) made pursuant to the Frank 
R. Lautenberg Chemical Safety for the 21st Century Act, or the 
amendments made by that Act. The provisions of law amended by 
this Act, as in effect on the day before the date of the 
enactment of this Act, shall apply to such rules.
                              ----------                              


14. An Amendment To Be Offered by Representative Grijalva of Arizona or 
                 His Designee, Debatable for 10 Minutes

  Page 42, strike line 7 and all that follows through line 3 on 
page 45.
                              ----------                              


15. An Amendment To Be Offered by Representative Nadler of New York or 
                 His Designee, Debatable for 10 Minutes

  Page 49, beginning on line 1, strike ``describing the 
objectives of, and legal basis for, the proposed rule'' and 
insert ``describing the objectives of the proposed rule, 
including any direct benefits of the proposed rule and any 
indirect benefits of the proposed rule that are reasonably 
foreseeable''.
  Page 49, after line 2, insert the following:
          ``(3) describing the legal basis for the proposed 
        rule;''.
  Page 49, line 3, strike ``(3)'' and insert ``(4)''.
  Page 49, line 5, strike ``(4)'' and insert ``(5)''.
  Page 49, line 11, strike ``(5)'' and insert ``(6)''.
  Page 49, line 15, strike ``(6)'' and insert ``(7)''.
  Page 49, line 20, strike ``(7)'' and insert ``(8)''.
  Page 49, line 23, strike ``(8)'' and insert ``(9)''.
  Page 50, after line 2, insert the following:
                  (A) in paragraph (1), to read as follows:
          ``(1) a statement describing the objectives of the 
        rule, including any direct benefits of the rule and any 
        indirect benefits of the rule that are reasonably 
        foreseeable;''.
  Page 50, line 3, strike ``(A)'' and insert ``(B)''.
  Page 50, line 6, strike ``(B)'' and insert ``(C)''.
  Page 50, line 9, strike ``(C)'' and insert ``(D)''.
  Page 50, line 11, strike ``(D)'' and insert ``(E)''.
  Page 50, line 13, strike ``(E)'' and insert ``(F)''.
  Page 50, line 15, strike ``(F)'' and insert ``(G)''.
                              ----------                              


 16. An Amendment To Be Offered by Representative Posey of Florida or 
                 His Designee, Debatable for 10 Minutes

  Page 75, line 3, strike ``and'' at the end.
  Page 75, line 13, strike the period at the end and insert ``; 
and''.
  Page 75, insert after line 13 the following:
                  ``(D) a list of all influential scientific 
                information disseminated or expected to be 
                disseminated by the agency relating to the 
                rule, including any peer review plans for the 
                information, including--
                          ``(i) the date the information or 
                        peer review was or is expected to be 
                        received by the agency;
                          ``(ii) the date the information or 
                        peer review was publically disclosed or 
                        is expected to be publically disclosed, 
                        and, if that date is altered in 
                        subsequent reports, a brief explanation 
                        for the change; and
                          ``(iii) the Internet address of the 
                        information or peer review completed 
                        and disclosed or of where the 
                        information or peer review will be 
                        found, once completed and disclosed.''.
                              ----------                              


          PART B--TEXT OF AMENDMENTS TO H.R. 79 MADE IN ORDER

 1. An Amendment To Be Offered by Representative Velazquez of New York 
               or Her Designee, Debatable for 10 Minutes

  Page 3, line 18, strike ``and''.
  Page 3, after line 24, insert the following:
                  (E) provides attendees with a disclosure, as 
                prescribed by the Securities and Exchange 
                Commission by rule, describing the nature of 
                the event and the risks of investing in the 
                securities being advertised; and
  Add at the end the following:
  (c) No Pre-existing Relationship by Reason of Event.--
Attendance at an event described under subsection (a) shall not 
qualify, by itself, as establishing a pre-existing relationship 
between an issuer and a purchaser, for purposes of Rule 506(b).
                              ----------                              


2. An Amendment To Be Offered by Representative Waters of California or 
                 Her Designee, Debatable for 10 Minutes

  Page 3, line 18, strike ``and''.
  Page 3, after line 18, insert the following:
                  (D) does not receive any compensation for 
                making introductions between investors 
                attending the event and issuers, or for 
                investment negotiations between such parties; 
                and
  Page 3, line 19, strike ``(D)'' and insert ``(E)''.
  At the end of the bill, insert the following:
  (c) Definition of Issuer.--For purposes of this section and 
the revision of rules required under this section, the term 
``issuer'' means an issuer that is in day-to-day operations as 
a business, is not in bankruptcy or receivership, is not an 
investment company, and is not a blank check, blind pool, or 
shell company.

                                  [all]