H.R. 1701 – Consumer Rental Purchase Agreement Act
1. Structured rule.
2. Provides one hour of general debate, with 50 minutes equally divided
and controlled by the chairman and ranking minority member of the Committee
on Financial Services and 10 minutes equally divided and controlled by the
chairman and ranking minority member of the Committee on the Judiciary.
3. Provides that the amendment in the nature of a substitute recommended
by the Committee on Financial Services, as amended by the amendment
recommended by the Committee on the Judiciary, now printed in the bill shall
be considered as an original bill for the purpose of amendment and shall be
considered as read.
4. Makes in order only those amendments printed in the Rules Committee
report accompanying the resolution.
5. Provides that the amendments printed in the report shall be considered
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 in the House or in the
Committee of the Whole.
6. Waives all points of order against the amendments printed in the
report.
7. Provides one motion to recommit with or without instructions.
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RESOLUTION
Resolved, That at any time after the adoption of this resolution the
Speaker may, pursuant to clause 2(b) of rule XVIII, declare the House
resolved into the Committee of the Whole House on the state of the Union for
consideration of the bill (H.R. 1701) to amend the Consumer Credit
Protection Act to assure meaningful disclosures of the terms of
rental-purchase agreements, including disclosures of all costs to consumers
under such agreements, to provide certain substantive rights to consumers
under such agreements, and for other purposes. The first reading of the bill
shall be dispensed with. General debate shall be confined to the bill and
shall not exceed one hour, with 50 minutes equally divided and controlled by
the chairman and ranking minority member of the Committee on Financial
Services and 10 minutes equally divided and controlled by the chairman and
ranking minority member of the Committee on the Judiciary. After general
debate the bill shall be considered for amendment under the five-minute
rule. 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, as amended by
the amendment recommended by the Committee on the Judiciary, now printed in
the bill. The committee amendment in the nature of a substitute shall be
considered as read. 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. 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
in the House or in the Committee of the Whole. All points of order against
such amendments are waived. At the conclusion of consideration of the bill
for amendment the Committee shall rise and report the bill to the House with
such amendments as may have been adopted. Any Member may demand a separate
vote in the House on any amendment adopted in the Committee of the Whole to
the bill or to the committee amendment in the nature of a substitute. The
previous question shall be considered as ordered on the bill and amendments
thereto to final passage without intervening motion except one motion to
recommit with or without instructions.
SUMMARY OF AMENDMENTS PROPOSED TO BE MADE IN ORDER
1. LaFalce #5 Incorporates the standard for limiting the total purchase
price of rental-purchase merchandise from New York, Ohio and Nebraska state
law, and establishes a process for determining standards in regulation for
determining the cash price of rental-purchase merchandise. (20 minutes)
2. Waters #1 Prohibits the shifting of liability for loss, damage or
destruction of the property subject to rental-purchase agreement to the
consumer. The liability remains with the merchant. (20 minutes)
