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(b) Each standing committee, and each subcommittee of any such committee, is authorized to fix a lesser number than one-third of its entire membership who shall constitute a quorum thereof for the purpose of taking sworn testimony.

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5. No standing committee shall sit without special leave while the Senate is in session after (1) the conclusion of the morning hour, or (2) the Senate has proceeded to the consideration of unfinished business, pending business, or any other business except private bills and the routine morning business, whichever is earlier.

Extracts From Rulemaking Provisions of the Legislative Reorganization Act

of 1946]

COMMITTEE PROCEDURE

SEC. 133. (a) Each standing committee of the Senate and the House of Representatives (except the Committees on Appropriations) shall fix regular weekly, biweekly, or monthly meeting days for the transaction of business before the committee, and additional meetings may be called by the chairman as he may deem necessary.

(b), Each such committee shall keep a complete record of all committee action. Such record shall include a record of the votes on any question on which a record vote is demanded.

(c) It shall be the duty of the chairman of each such committee to report or cause to be reported promptly to the Senate or House of Representatives, as the case may be, any measure approved by his committee, and to take or cause to be taken necessary steps to bring the matter to a vote.

(d) No measure or recommendation shall be reported from any such committee unless a majority of the committee were actually present.

(e) Each such standing committee shall, so far as practicable, require all witnesses appearing before it to file in advance written statements of their proposed testimony, and to limit their oral presentations to brief summaries of their argument. The staff of each committee shall prepare digests of such statements for the use of committee members.

(f) All hearings conducted by standing committees or their subcommittees shall be open to the public, except executive sessions for marking up bills or for voting or where the committee by a majority vote orders an executive session.

COMMITTEE POWERS

Sec. 134. (a) Each standing committee of the Senate, including any subcommittee of any such committee, is authorized to hold such hearings, to sit and act at such times and places during the sessions, recesses, and adjourned periods of the Senate, to require by subpena or otherwise the attendance of such witnesses and the production of such correspondence, books, papers, and documents, to take such testimony and to make such expenditures (not in excess of $10,000 for each committee during any Congress) as it deems advisable. Each such committee may make investigations into any matter within its jurisdiction, may report such hearings as may be had by it, and may employ stenographic assistance at a cost not exceeding $1.75 per page. The expenses of the committee shall be paid from the contingent fund of the Senate upon vouchers approved by the chairman.

3 As amended, S. Jour. 49, 88–2, Jan. 30, 1964. By the same action the Senate provided that section 134(c) of the Legislative Reorganization Act, relating to the same subject, would no longer be applicable to the

Senate.

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LEGISLATIVE OVERSIGHT BY STANDING COMMITTEES

SEC. 136. To assist the Congress in appraising the administration of the laws and in developing such amendments or related legislation as it may deem necessary, each standing committee of the Senate and the House of Representatives shall exercise continuous watchfulness of the execution by the administrative agencies concerned of any laws, the subject matter of which is within the jurisdiction of such committee; and, for that purpose, shall study all pertinent reports and data submitted to the Congress by the agencies in the executive branch of the Government.

RULES OF THE COMMITTEE ON BANKING AND CURRENCY

(Agreed to January 14, 1955) 1. A subcommittee of the committee may be authorized only by the action of a majority of the full committee.

2. Unless the committee otherwise provides, one member shall constitute a quorum for the receipt of evidence, the swearing of witnesses and the taking of testimony, and the chairman of the committee or subcommittee may issue subpenas.

3. No investigation shall be initiated unless the Senate or the full committee has specifically authorized such investigation.

4. No hearing of the committee or a subcommittee shall be scheduled outside of the District of Columbia except by the majority vote of the committee or subcommittee.

5. No confidential testimony taken or confidential material presented at an executive hearing of the committee or a subcommittee or any report of the proceedings of such an executive hearing shall be made public, either in whole or in part or by way of summary, unless authorized by the committee or subcommittee.

6. Any witness subpenaed to a public or executive hearing may be accompanied by counsel of his own choosing who shall be permitted, while the witness is testifying, to advise him of his legal rights.

7. If the committee or a subcommittee is unable to meet because of the failure or inability of its chairman to call a meeting, or for any other reason, the next senior majority member of the committee or the subcommittee, who is able to act, shall call a meeting of the committee or the subcommittee within 15 days after the receipt by the Secretary of the Senate of a written request, stating the purpose of such a meeting, from a majority of the members of the committee or the subcommittee.

8. Committee or subcommittee interrogation of witnesses shall be conducted only by members and staff personnel authorized by the chairman of the committee or subcommittee concerned.

ACTION ON BILLS AND RESOLUTIONS CONSIDERED BY SENATE BANKING AND CURRENCY COMMITTEE, 90th CONG., 2d SESS.

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Number

Description

S. Rept.

No.

Final action

950 Passed Senate, Jan. 25, 1968.

354 Public Law 90–255.

493 Public Law 90-267. 1007 Public Law 90-269. 1090 Public Law 90–301. 1091 Public Law 90-300. 404 Public Law 90-303.

541 Public Law 90-316.
550 Public Law 90-439.

S. Con. Res. 33...... Authorizing the Joint Economic Committee to study

programs for balanced economic development. S. 15421

Savings and Loan Holding Company Act Amend

ments of 1967. S. 11551.

Export-Import Bank Act Amendments of 1967..
S. 2857..
H.R. 147432.

Removal of gold reserve requirements...
H.R. 10477.

VA and FHA housing amendments.. H.R. 15344.

Direct purchase authority of Treasury obligations.. S. 1909 1.

Medal commemorating 100th anniversary of com

pletion of 1st transcontinental railroad. S.J. Res. 931. H.J. Res. 12342

}Walt Disney Gold Medal..... S. 5101

Full disclosure of corporate equity ownership and in

corporate takeover bids. S. 51

Truth in lending, 1967. S. 3218.

Extending authority of Export-Import Bank in order H.R. 161622

to improve the balance of payments. S. 3497

Housing and Urban Development Act of 1968.. H.R. 6157.

Payroll

savings deductions for Federal employees... S.J. Res. 160. Effect of institutional investors on the securities

market. H.R. 15345.

Bank Protection Act. S. 1299.

Extension of margin requirements to over-the

counter securities. H.R. 14907.

Federal Credit Union Act amendments.. H.R. 17268.

Extension of Defense Production Act. S. 3133.

Regulation of maximum rates of interest paid on

time and savings deposits. S. 3724.

Investment Company Amendments Act of 1968. S. 3671.

Dartmouth College Medal...
S. 356.

Michigan National Bank branch offices.
S. 3531.
H.R. 17361 2..

Memphis Sesquicentennial Medals...

392 Public Law 90-321. 1100 Public Law 90-390.

1123 Public Law 90-448.
1228 Public Law 90-365.
1237 Public Law 90-438.

1263 Public Law 90-389.
1264 Public Law 90-437.

1265 Public Law 90-375.
1322 Public Law 90-370.
1343 Public Law 90-505.

1351 Passed Senate, July 26, 1968.
1359 Public Law 90-528.
1374 Passed Senate, July 11, 1968.
1615 Public Law 90-600.

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Jan. 18, 1968 William W. Sherrill, of Texas, to be a member Jan. 22, 1968.-Ordered Jan. 22, 1968 Jan. 23, 1968

of the Board of Governors of the Federal favorably reported.
Reserve System for a term of 14 years from

Feb. 1, 1968. (Reappointment.)
Jan. 18, 1968 Merton J. Peck, of Connecticut, to be a mem- Feb. 5, 1968.-Ordered Feb. 5, 1968 Feb. 6, 1968

ber of the Council of Economic Advisers. favorably reported. May 2, 1968 Warren L. Smith, of Michigan, to be a member June 11, 1968.- Ordered June 12, 1968 June 17, 1968

of the Council of Economic Advisers vice favorably reported.

James S. Duesenberry.
May 6, 1968 Manuel Frederick Cohen, of Maryland, be a May 16, 1968.---Ordered May 20, 1968 May 21, 1968

member of the Securities and Exchange favorably reported.
Commission for the term of 5 years expiring

June 5, 1973. (Reappointment.)
June 28, 1968 Howard J. Samuels, of New York, to be Ad- July 16, 1968.-Ordered July 18, 1968 July 19, 1968

ministrator of the Small Business Adminis- favorably reported.

tration vice Robert C. Moot. July 19, 1968 Irvine H. Sprague, of California, to be a mem- July 26, 1968.-Ordered July 26, 1968 July 30, 1968

ber of the Board of Directors of the Federal favorably reported.
Deposit Insurance Corporation for a term of

6 years vice William W. Sherrill, resigned. Aug. 2, 1968 Raymond H. Lapin of California to be Presi- Sept. 5 1968.-Ordered Sept. 5, 1968 Sept. 5, 1968

dent of the Federal National Mortgage As- favorably reported.

sociation. Sept. 11, 1968 Paul L. Sitton to be Urban Mass Transporta- Sept. 11 1968.-Ordered Sept. 11, 1968 Sept. 12, 1968 tion Administrator.

favorably reported. Sept. 11, 1968 The following-named persons to be incorpo

rators of the corporation authorized by sec.
902(a) of the Housing and Urban Develop-
ment Act of 1968:

Ernest C. Arbuckle, of California.
Edward J. Daly, of California..
Edwin D. Etherington, of New Jersey.
Edgar F. Kaiser, of California.
James J. Ling, of Texas.

Sept. 23, 1968.-Ordered Sept. 23, 1968 Sept. 25, 1968
John L. Loeb, of New York.

favorably reported.
Everett Mattson, of Texas..
George Meany, of Maryland..
David Rockefeller, of New York.

John H. Wheeler, of North Carolina...
Sept. 16, 1968 The following-named persons to be incorpo-

rators of the Corporation authorized by sec.
902(a) of the Housing and Urban Develop-
ment Act of 1968:

Donald C. Burnham, of Pennsylvania..
Gilbert W. Fitzhugh, of New York.
William A. Hewitt, of Illinois...

Sept. 23, 1968.-Ordered Sept. 23, 1968 Sept. 25, 1968
Andre Meyer, of New York..

favorably reported.
Stuart T. Saunders, of Pennsylvania.

Leon N. Weiner, of Pennsylvania -
Oct. 11, 1968 Walter B. Lewis, of the District of Columbia,

to be an Assistant Secretary of Housing and
Urban Development. (New position.)

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HOUSING

HOUSING AND URBAN DEVELOPMENT ACT OF 1968

[S. 3497] [Public Law 90-448, approved Aug. 1, 1968) To assist in the provision of housing for low- and moderate-income families and

to extend and amend laws relating to housing and urban development

On March 5–7, 11-15, 18–22, 1968, the Housing and Urban Affairs Subcommittee held open hearings to consider some 27 bills relating to the various housing programs and other Housing and Urban Development matters. Following these hearings, the committee met in executive session on April 8-10, 18, and 23-25 to consider all bills, amendments, and other proposals pending before the committee. Subsequently, Senator Sparkman reported a committee bill, S. 3497, on May 15, 1968 (S. Rept. 1123). On May 23, 24, and 27, S. 3497 was considered and amended and was passed by the Senate on May 28 and the measure was referred to the Banking and Currency Committee of the House of Representatives on May 29.

On June 25, 1968, the House committee reported a committee bill, H.R. 17989 (H. Rept. 1585). H.R. 17989 was then considered, amended, and passed by the House on July 10, 1968, and the House then struck everything after the enacting clause of S. 3497 and substituted in lieu thereof the provisions of H. Ř. 17989 and asked for a conference between the Senate and House of Representatives on the differences in S. 3497 as amended by the House.

S. 3497 became the subject of a conference between the Senate and House of Representatives on July 15–19 and 23. The conference committee report (H. Rept. 1785) was filed on July 23 and was agreed to by the Senate on July 25 and by the House of Representatives on July 26. S. 3497 was approved by the President on August 1, 1968, becoming Public Law 90-448.

SUMMARY OF MAJOR FEATURES OF HOUSING AND URBAN DEVELOPMENT

ACT OF 1968

Aids for homeownership and rental housing

It authorizes new programs of subsidies to reduce mortgage interest rates on behalf of lower income families to as low as 1 percent in order to assist them in purchasing or renting new or existing housing which they could not otherwise afford. Eligibility to participate in this program is limited to families whose incomes do not exceed 135 percent of the incomes set for admission to low-rent public housing in the

1 S. 2228, S. 2229, S. 2343, S. 2376, S. 2466, S. 2498, S. 2508, S. 2625, S. 2631, S. 2680, S. 2681, S. 2800, S. 2801, S. 2802, S. 3028, S. 3029 amendment No. 600 to S. 3029, amendment No. 607 to S. 3029, amendment No. 613 to S. 3029, S. 3110, S. 3128, S. 3129, S. 3130, S. 3131 and S. 3255.

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