Promoting Transparency in Financial Reporting Act of 2007
Latest action · Feb 28, 2007 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 31, 2007
- Passed HouseFeb 27, 2007
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Promoting Transparency in Financial Reporting Act of 2007 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to provide oral testimony by their respective Chairpersons (or a designee), beginning in 2007, and annually for five years, to the Committee on Financial Services of the House of Representatives on their efforts to reduce the complexity in financial reporting to provide more accurate and clear financial information to investors.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 104 | On Motion to Suspend the Rules and Pass | Passed412–0 | Feb 27, 2007 |
Cosponsors 5
Members who signed on, in the order they did. All signed on Jan 31, 2007.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Adam H. Putnam | Original | Jan 31, 2007 |
| D-GA | David Scott | Original | Jan 31, 2007 |
| R-DE | Michael N. Castle | Original | Jan 31, 2007 |
| D-TX | Ruben Hinojosa | Original | Jan 31, 2007 |
| R-FL | Tom Feeney | Original | Jan 31, 2007 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jan 31, 2007 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Feb 28, 2007 |
Actions 10
Everything that happened, newest first.
- Feb 28, 2007Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 27, 2007Mr. Scott (GA) moved to suspend the rules and pass the bill.
- Feb 27, 2007Considered under suspension of the rules. (consideration: CR H1903-1905)
- Feb 27, 2007DEBATE - The House proceeded with forty minutes of debate on H.R. 755.
- Feb 27, 2007At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- Feb 27, 2007Considered as unfinished business. (consideration: CR H1931-1932)
- Feb 27, 2007Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 412 - 0 (Roll no. 104). (text: CR H1903)
- Feb 27, 2007Motion to reconsider laid on the table Agreed to without objection.
- Jan 31, 2007Introduced in House
- Jan 31, 2007Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H1903–H1905Text printed H1903Recorded votes H1932enact | David Scott D-GA, Geoff Davis R-KY, Maxine Waters D-CA | Feb 27, 2007 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 834 | Promoting Transparency in Financial Reporting Act of 2007 | Related bill | Mar 9, 2007 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To require annual oral testimony before the Financial Services Committee of the Chairperson or a designee of the Chairperson of the Securities and Exchange Commission, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board, relating to their efforts to promote transparency in financial reporting.
- Short Titles as Introduced
- Promoting Transparency in Financial Reporting Act of 2007
- Short Titles as Passed House
- Promoting Transparency in Financial Reporting Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Accounting
- Administrative procedure
- Associations, institutions, etc.
- Auditing
- Business records
- Commerce
- Congress
- Congressional committees (House)
- Congressional reporting requirements
- Congressional witnesses
- Corporate finance
- Federal officials
- Finance and Financial Sector
- Financial statements
- Government Operations and Politics
- Government paperwork
- House Financial Services
- Independent regulatory commissions
- Information disclosure (Securities law)
- Interactive media
- Investors
- Law
- Nonprofit organizations
- Science, Technology, Communications
- Securities and Exchange Commission
- Social Welfare
- Standards
Text 3
Each version as it was printed, newest first.
- Feb 28, 2007Referred in Senate
- Feb 27, 2007Engrossed in House
- Jan 31, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
