Trying to understand this stuff gives me a headache too, but I can offer this:
Regarding HR1161, Jim Sinclair said, "There is legislation presently in process, . . . " I wanted to know its current status and looked on the net.
Here's what I found, but you can just jump to the bottom too.
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Search http://thomas.loc.gov/bss/d106query.html for HR1161
Bill Summary & Status for the 106th Congress
Item 1 of 1
H.R.1161
Sponsor: Rep Leach, James A.(introduced 3/17/1999)
Latest Major Action: 10/25/2000 Senate preparation for floor. Status: Received in the Senate.
Title: To revise the banking and bankruptcy insolvency laws with respect to the termination and netting of financial contracts, and for other purposes. {Gotta love it, "and for other purposes."}
3/17/1999:
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on the Judiciary, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
3/17/1999:
Referred to House Banking and Financial Services
4/16/1999:
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
7/27/2000:
Subcommittee on Financial Institutions and Consumer Credit Discharged.
7/27/2000:
Committee Consideration and Mark-up Session Held.
7/27/2000:
Ordered to be Reported by Voice Vote.
3/17/1999:
Referred to House Judiciary
4/1/1999:
Referred to the Subcommittee on Commercial and Administrative Law.
3/17/1999:
Referred to House Commerce
9/7/2000 6:52pm:
Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 106-834, Part I.
9/7/2000 6:53pm:
House Committee on Judiciary Granted an extension for further consideration ending not later than Sept. 7, 2000.
Committee on Commerce discharged.
9/7/2000 6:54pm:
Placed on the Union Calendar, Calendar No. 492.
10/24/2000 5:40pm:
Mr. Leach moved to suspend the rules and pass the bill, as amended.
10/24/2000 5:41pm:
Considered under suspension of the rules. (consideration: CR H10690-10698)
10/24/2000 5:54pm:
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H10690-10696)
10/24/2000 5:54pm:
Motion to reconsider laid on the table Agreed to without objection.
10/25/2000:
Received in the Senate.
- - - - - END status report - - - - - - - -
So what's the status? What happened in the Senate?
At this point, the measure ceases technically to be called a bill and is termed "An Act" signifying that it is the act of one body of the Congress, although it is still popularly referred to as a bill. ...refers the engrossed bill to the appropriate standing committee of the Senate for Committee Consideration -
GOOGLE SEARCH:
< "Financial Contract Netting Improvement" senate >
Ah Ha! - "Financial Contract Netting Improvement Act of 2001 Bill # H.R.11"
Current up-to-date status?
http://www.congress.org/congressorg/issues/bills/?billnum=H.R.11&congress=107&size=full
Status:
01/03/2001: Referred to House Financial Services
01/03/2001: Referred to House Judiciary
01/03/2001: Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
02/12/2001: Referred to the Subcommittee on Commercial and Administrative Law.
03/02/2001: Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Committee/Subcommittee Activity:
Financial Services: Referral
Amendment(s):
***NONE***
- - - - - - - - - - - END status report from URL above - - - - - - -
But on the page I can click "View bill text" or "latest amendments" from Thomas.
Click amendments, although report above says 'none.' -
It says - H.R.11, Sponsor: Rep Leach, James A.(introduced 1/3/2001)
Latest Major Action: 3/2/2001 Referred to House subcommittee.
Status: Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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Click on View bill text -
Printer Friendly Display - 82,793 bytes.
Not so long, really. Dated 1/3/2001
No way I'm going to try to read that stuff.
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Link supplied in editorial "The $3.5 Trillion Dollar Sure Thing" is a news release from Rep. LaFarce [Sorry, in Thai, the 'l' and the 'r' sounds are often confused. Honest, I swear.] dated December 17, 2001.
. . . "So far, the legislation in H.R. 3211 has passed the House and Senate as part of controversial consumer bankruptcy legislation, which is stalled in a conference committee. . . . "
"The House approved by voice vote nearly identical legislation in December of 2000, but the Senate did not act on the House bill prior to adjourning for the 106th Congress. . . . "
". . . now in conference. This conference only recently held its first meeting and has made little progress in reconciling differing House and Senate versions. Given the many serious disagreements over consumer bankruptcy legislation that remain to be resolved in conference, it will be some time before a final bill emerges. The fact the netting provisions are non-controversial and enjoy bipartisan support makes it imperative that the House pass them separately before we adjourn for the year.
"We therefore urge you to schedule H.R. 3211 for floor consideration in this week's suspension calendar to ensure {that it becomes law before we adjourn} . . .
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It didn't happen. Perhaps the Subcommittee on Financial Institutions and Consumer Credit used it in the birdcages or something.
I suppose the "Working Committee" could get their laws by attaching them to other legislation under a new name - maybe they already have for all I can tell.
Searching for that is beyond me. Seems it would be easier to, say, contact Congressman Ron Paul's office and ask them.
