Imágenes de páginas
PDF
EPUB
[merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small]

sional Budget Office shall use exclusively during that session of Congress revenue estimates provided to it by the Joint Committee on Taxation. During that session of Congress such revenue estimates shall be transmitted by the Congressional Budget Office to any committee of the House of Representatives or the Senate requesting such estimates, and shall be used by such Committees in determining such estimates. The Budget Committees of the Senate and House shall determine all estimates with respect to scoring points of order and with respect to the execution of the purposes of this Act.

Pub. L. 99-177, title II, § 273, Dec. 12, 1985, 99 Stat. 1098, renumbered § 201(g) of Pub. L. 93-344, Pub. L. 101-508, title XIII, § 13202(b), Nov. 5, 1990, 104 Stat. 1388-615; Pub. L. 101-508, title XIII, § 13202(a), (c), Nov. 5, 1990, 104 Stat. 1388-615.)

REFERENCES IN TEXT

This Act, referred to in second subsec. (g), means Pub. L. 93-344, July 12, 1974, 88 Stat. 297, as amended, known as the Congressional Budget and Impoundment Control Act of 1974, which enacted chapters 17, 17A and 17B, and section 190a-3 of this title and sections 11a, 11c, 11d, 1020a of former Title 31, Money and Finance, amended sections 11, 665, 701, 1020, 1151, 1152, 1153, and 1154 of former Title 31, section 105 of Title 1, General Provisions, sections 190b and 190d of this title, repealed sections 571 and 581c-1 of former Title 31, and sections 66 and 81 of this title, and enacted provisions set out as notes under sections 190a-1, 621, 632, and 682 of this title, section 105 of Title 1, and section 1020 of former Title 31. For complete classification of this Act to the Code, see Short Title note set out under section 621 of this title and Tables.

CODIFICATION

Pub. L. 101-508, § 12302(b), transferred section 273 of Pub. L. 99-177, which was classified to section 921 of this title, to subsec. (g) of this section, relating to revenue estimates.

AMENDMENTS

1990 Subsec. (f). Pub. L. 101-508, § 13202(a), redesignated subsec. (f), relating to authorization of appropriations, as (g).

Subsec. (g). Pub. L. 101-508, § 13202(a), redesignated subsec. (f), relating to authorization of appropriations, as (g).

Pub. L. 101-508, § 12302(b), (c), redesignated section 921 of this title as subsec. (g) of this section, inserted heading "Revenue estimates" and substituted "this Act" for "this title and the Congressional Budget and Impoundment Control Act of 1974".

REFERENCES IN OTHER LAWS TO GS-16, 17, OR 18 PAY RATES

References in laws to the rates of pay for GS-16, 17, or 18, or to maximum rates of pay under the General Schedule, to be considered references to rates payable under specified sections of Title 5, Government Organization and Employees, see section 529 [title I, 101(c)(1) of Pub. L. 101-509, set out in a note under section 5376 of Title 5.

§ 602. Duties and functions

(a) Assistance to budget committees

It shall be the duty and function of the Office to provide to the Committees on the Budget of both Houses information which will assist such committees in the discharge of all

75-801 091-1.013.

matters within their jurisdictions, including (1) information with respect to the budget, appropriation bills, and other bills authorizing or providing new budget authority or tax expenditures, (2) information with respect to revenues, receipts, estimated future revenues and receipts, and changing revenue conditions, and (3) such related information as such Committee may request.

[See main edition for text of (b) to (e)]

(f) Reports to budget committees

(1) On or before February 15 of each year, the Director shall submit to the Committees on the Budget of the House of Representatives and the Senate a report, for the fiscal year commencing on October 1 of that year, with respect to fiscal policy, including (A) alternative levels of total revenues, total new budget authority, and total outlays (including related surpluses and deficits), and (B) the levels of tax expenditures under existing law, taking into account projected economic factors and any changes in such levels based on proposals in the budget submitted by the President for such fiscal year. Such report shall also include a discussion of national budget priorities, including alternative ways of allocating new budget authority and budget outlays for such fiscal year among major programs or functional categories, taking into account how such alternative allocations will meet major national needs and affect balanced growth and development of the United States.

[See main edition for text of (2) and (3); (g) and (h)]

(As amended Pub.

L. 101-508, title XIII, § 13112(a)(3), Nov. 5, 1990, 104 Stat. 1388-608.)

AMENDMENTS

1990-Subsecs. (a)(1), (f)(1). Pub. L. 101-508 substituted "new budget authority" for "budget authority" in subsec. (a)(1) and second sentence of subsec. (f)(1).

§ 605. Sale or lease of property, supplies, or services

[See main edition for text]

(Pub. L. 103-69, title I, Aug. 11, 1993, 107 Stat. 701.)

SIMILAR PROVISIONS

Similar provisions were contained in the following prior appropriation acts:

Pub. L. 102-392, title I, Oct. 6, 1992, 106 Stat. 1713.
Pub. L. 102-90, title I, Aug. 14, 1991, 105 Stat. 458.
Pub. L. 101-520, title I, Nov. 5, 1990, 104 Stat. 2266.
Pub. L. 101-163, title I, Nov. 21, 1989, 103 Stat. 1054.
Pub. L. 100-458, title I, Oct. 1, 1988, 102 Stat. 2169.

§ 606. Disposition of surplus or obsolete property

The Director of the Congressional Budget Office shall have the authority, within the limits of available appropriations, to dispose of surplus or obsolete personal property by interagency transfer, donation, or discarding.

(Pub. L. 103-69, title I, Aug. 11, 1993, 107 Stat. 701.)

[blocks in formation]

(d) Application of subsections (a) and (b)

to fiscal years 1992 to 1995. (e) Pay-as-you-go exception in House. Consideration of legislation before adoption

of budget resolution for that fiscal year. Reconciliation directives regarding pay-asyou-go requirements. (a) Instructions to effectuate pay-as-you

go in House of Representatives. (b) Consideration of pay-as-you-go rec

onciliation legislation in House of

Representatives. Application of section 642 of this title; point of order. (a) Application of section 642(a) of this

title. (b) Maximum deficit amount point of

order in Senate. 5-year budget resolutions; budget resolutions

must conform to Balanced Budget and Emergency Deficit Control Act of 1985.

(a) 5-year budget resolutions.
(b) Point of order in House of Repre-

sentatives.
(c) Point of order in Senate.
(d) Adjustments.

665e.

661. 661a. 661b.

661c.

SUBCHAPTER III-CREDIT REFORM

Purposes.
Definitions.
OMB and CBO analysis, coordination, and
review.

(a) In general.
(b) Delegation.
(c) Coordination with Congressional

Budget Office.
(d) Improving cost estimates.
(e) Historical credit program costs.

(f) Administrative costs. Budgetary treatment.

(a) President's budget.
(b) Appropriations required.
(c) Exemption for mandatory programs.
(d) Budget accounting.
(e) Modifications.
(f) Reestimates.

(g) Administrative expenses. Authorizations. (a) Authorization of appropriations for

costs. (b) Authorization for financing accounts. (c) Treasury transactions with financing

accounts. (d) Authorization for liquidating ac

counts. (e) Authorization of appropriations for

implementation expenses. (f) Reinsurance.

(g) Eligibility and assistance. Treatment of Deposit Insurance and agen

cies and other insurance programs. Effect on other laws.

(a) Effect on other laws.
(b) Crediting of collections.

661d.

8621. Congressional declaration of purpose

SHORT TITLE Pub. L. 93-344, title V, $ 500, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-609, provided that: “This title (enacting subchapter III of this chapter) may be cited as the 'Federal Credit Reform Act of 1990'." FINANCIAL SAFETY AND SOUNDNESS OF GOVERNMENT

SPONSORED ENTERPRISES Pub. L. 101-508, title XIII, § 13501, Nov. 5, 1990, 104 Stat. 1388-628, provided that:

“(a) DEFINITION.--For purposes of this section, the terms 'Government-sponsored enterprise' and 'GSE' mean the Farm Credit System (including the Farm Credit Banks, Banks for Cooperatives, and Federal Agricultural Mortgage Corporation), the Federal Home Loan Bank System, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, and the Student Loan Marketing Association.

"(b) TREASURY DEPARTMENT STUDY AND PROPOSED LEGISLATION.

“(1) The Department of the Treasury shall prepare and submit to Congress no later than April 30, 1991, a study of GSEs and recommended legislation.

“(2) The study shall include an objective assessment of the financial soundness of GSES, the adequacy of the existing regulatory structure for GSES, the financial exposure of the Federal Government posed by GSEs, and the effects of GSE activities on Treasury borrowing. "(c) CONGRESSIONAL BUDGET OFFICE STUDY.

"(1) The Congressional Budget Office shall prepare and submit to Congress no later than April 30, 1991, a study of GSES.

"(2) The study shall include an analysis of the financial risks each GSE assumes, how Congress may improve its understanding of those risks, the supervision and regulation of GSEs' risk management, the financial exposure of the Federal Government posed by GSEs, and the effects of GSE activities on Treas. ury borrowing. The study shall also include an analysis of alternative models for oversight of GSEs and of the costs and benefits of each alternative model to the Government and to the markets and benefici. aries served by GSES. "(d) ACCESS TO RELEVANT INFORMATION.

"(1) For the studies required by this section, each GSE shall provide full and prompt access to the Secretary of the Treasury and the Director of the Con

661e.

661f.

SUBCHAPTER IV-BUDGET AGREEMENT

ENFORCEMENT PROVISIONS 665. Definitions and point of order.

(a) Definitions.
(b) Point of order in Senate on aggregate

allocations for defense, internation-
al, and domestic discretionary

spending.
665a. Committee allocations and enforcement.

(a) Committee spending allocations.
(b) Suballocations by committees.
(c) Application of section 633(f) of this

title to this section.

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][ocr errors][merged small][merged small][ocr errors][merged small][merged small][ocr errors][ocr errors][merged small][ocr errors]
[blocks in formation]

"(A) by virtue of his or her employment or official position, he or she has possession of or access to any book, record, or information made available under and determined to be confidential under this section; and

"(B) he or she discloses the material in any manner other than

"(i) to an officer or employee of the Department of the Treasury; or

"(ii) pursuant to the exception set forth in such section 1906.

"(4) The Congressional Budget Office shall be exempt from section 203 of the Congressional Budget Act of 1974 [2 U.S.C. 603] with respect to any book, record, or information made available under this subsection and determined by the Director to be confidential under paragraph (1). "(f) REQUIREMENT TO REPORT LEGISLATION.-(1) The committees of jurisdiction in the House shall prepare and report to the House no later than September 15, 1991, legislation to ensure the financial soundness of GSES and to minimize the possibility that a GSE might require future assistance from the Government. "(2) It is the sense of the Senate that the committees of jurisdiction in the Senate shall prepare and report to the Senate no later than September 15, 1991, legislation to ensure the financial safety and soundness of GSEs and to minimize the possibility that a GSE might require future assistance from the Government.

"(f) [sic] PRESIDENT'S BUDGET.-The President's annual budget submission shall include an analysis of the financial condition of the GSES and the financial exposure of the Government, if any, posed by GSES."

EXERCISE OF CONGRESSIONAL RULEMAKING POWER Section 904 of Pub. L. 93-344, as amended by Pub. L. 99-177, title II, § 271(a), Dec. 12, 1985, 99 Stat. 1094; Pub. L. 101-508, title XIII, §§ 13112(a)(11), 13208(a), Nov. 5, 1990, 104 Stat. 1388-608, 1388-619, provided that:

"(a) The provisions of this title (except section 905) and of titles I, III, IV, V, and VI (except section 601(a)) and the provisions of sections 701, 703, and 1017 [enacting this chapter (except section 665(a) of this title) and sections 190a-3 and 688 of this title, amending the Rules of the House of Representatives and the Standing Rules of the Senate, and sections 190b and 190d of this title, and enacting provisions set out as notes under sections 190a-1 and 632 of this title] are enacted by the Congress

[See main edition for text of (1) and (2); (b)] "(c) WAIVER.-Sections 305(b)(2), 305(c)(4), 306, 904(c), and 904(d) [sections 636(b)(2), (c)(4) and 637 of this title and subsecs. (c) and (d) of this note] may be waived or suspended in the Senate only by the affirmative vote of three-fifths of the Members, duly chosen and sworn. Sections 301(i), 302(c), 302(f), 310(d)(2), 310(f), 311(a), 313, 601(b), and 606(c) of this Act [sections 632(i), 633(c), (f), 641(d)(2), (f), 642(a), 644, 665(b), and 665e(c) of this title] and sections 258(a)(4)(C), 258A(b)(3)(C)(i), 258B(f)(1), 258B(h)(1), 258B(h)(3), 258C(a)(5), and 258C(b)(1) of the Balanced Budget and Emergency Deficit Control Act of 1985 [sections 907a(a)(4)(C), 907b(b)(3)(C)(i), 907c(f)(1), (h)(1), (3), and 907d(a)(5), (b)(1) of this title] may be waived or suspended in the Senate only by the affirmative vote of three-fifths of the Members, duly chosen and sworn.

"(d) Appeals in the Senate from the decisions of the Chair relating to any provision of title III or IV [enacting subchapters I and II of this chapter] or section 1017 [enacting section 688 of this title] shall, except as otherwise provided therein, be limited to 1 hour, to be equally divided between, and controlled by, the mover and the manager of the resolution, concurrent resolution, reconciliation bill, or rescission bill, as the case may be. An affirmative vote of three-fifths of the Members of the Senate, duly chosen and sworn, shall be required in the Senate to sustain an appeal of the ruling of the Chair on a point of order raised under sections 305(b)(2), 305(c)(4), 306, 904(c), and 904(d) [sections 636(b)(2), (c)(4) and 637 of this title and subsecs. (c) and (d) of this note]. An affirmative vote of three-fifths of the Members of the Senate, duly chosen and sworn, shall be required in the Senate to sustain an appeal of the ruling of the Chair on a point of order raised under sections 301(i), 302(c), 302(f), 310(d)(2), 310(f), 311(a), 313, 601(b), and 606(c) of this Act [sections 632(i), 633(c), (f), 641(d)(2), (f), 642(a), 644, 665(b), and 665e(c) of this title] and sections 258(a)(4)(C), 258A(b)(3)(C)(i), 258B(f)(1), 258B(h)(1), 258B(h)(3), 258C(a)(5), and 258C(b)(1) of the Balanced Budget and Emergency Deficit Control Act of 1985 [sections 907a(a)(4)(C), 907b(b)(3)(C)(i), 907c(f)(1), (h)(1), (3), and 907d(a), (b)(1) of this title] [.]"

ACT REFERRED TO IN OTHER SECTIONS

The Congressional Budget Act of 1974 is referred to in sections 907a, 907b, 907c, of this title; title 7 section 1446c-1; title 22 sections 2717, 2718, 4715; title 50 App. sections 1989b-8, 1989c-7.

The Congressional Budget and Impoundment Control Act of 1974 is referred to in section 907a of this title; title 16 sections 5447, 1606; title 22 sections 2295b, 5857; title 42 section 11303.

§ 622. Definitions

For purposes of this Act

[See main edition for text of (1)]

(2) BUDGET AUTHORITY AND NEW BUDGET AUTHORITY.

(A) IN GENERAL.-The term "budget authority" means the authority provided by Federal law to incur financial obligations, as follows:

(i) provisions of law that make funds available for obligation and expenditure (other than borrowing authority), including the authority to obligate and expend the proceeds of offsetting receipts and collections;

(ii) borrowing authority, which means authority granted to a Federal entity to borrow and obligate and expend the bor

rowed funds, including through the issuance of promissory notes or other monetary credits;

(iii) contract authority, which means the making of funds available for obligation but not for expenditure; and

(iv) offsetting receipts and collections as negative budget authority, and the reduction thereof as positive budget authority.

(B) LIMITATIONS ON BUDGET AUTHORITY.— With respect to the Federal Hospital Insurance Trust Fund, the Supplementary Medical Insurance Trust Fund, the Unemployment Trust Fund, and the railroad retirement account, any amount that is precluded from obligation in a fiscal year by a provision of law (such as a limitation or a benefit formula) shall not be budget authority in that year.

(C) NEW BUDGET AUTHORITY.—The term "new budget authority" means, with respect to a fiscal year

(i) budget authority that first becomes available for obligation in that year, including budget authority that becomes available in that year s1 a result of a reappropriation; or

(ii) a change in any account in the availability of unobligated balances of budget authority carried over from a prior year, resulting from a provision of law first effective in that year;

and includes a change in the estimated level of new budget authority provided in indefinite amounts by existing law.

[See main edition for text of (3) to (5)]

(6) The term "deficit" means, with respect to a fiscal year, the amount by which outlays exceeds 2 receipts during that year.

(7) The term "surplus" means, with respect to a fiscal year, the amount by which receipts exceeds 2 outlays during that year.

(8) The term “government-sponsored enterprise" means a corporate entity created by a law of the United States that

(A)(i) has a Federal charter authorized by law;

(ii) is privately owned, as evidenced by capital stock owned by private entities or individuals;

(iii) is under the direction of a board of directors, a majority of which is elected by private owners;

(iv) is a financial institution with power to

(I) make loans or loan guarantees for limited purposes such as to provide credit for specific borrowers or one sector; and

(II) raise funds by borrowing (which does not carry the full faith and credit of the Federal Government) or to guarantee the debt of others in unlimited amounts; and

(B)(i) does not exercise powers that are reserved to the Government as sovereign

1 So in original. Probably should be "as".

* So in original. Probably should be “exceed".

(such as the power to tax or to regulate interstate commerce);

(ii) does not have the power to commit the Government financially (but it may be a recipient of a loan guarantee commitment made by the Government); and

(iii) has employees whose salaries and expenses are paid by the enterprise and are not Federal employees subject to title 5.

[See main edition for text of (9) and (10)] (Pub. L. 93-344, § 3, July 12, 1974, 88 Stat. 299; Aug. 1, 1946, ch. 724, title I, § 302(c), as added Aug. 30, 1954, ch. 1073, § 1, as added Pub. L. 95-110, 1, Sept. 20, 1977, 91 Stat. 884, renumbered title I, Pub. L. 102-486, title IX, § 902(a)(8), Oct. 24, 1992, 106 Stat. 2944; Pub. L. 99-177, title II, §§ 201(a), 232(b), Dec. 12, 1985, 99 Stat. 1039, 1062; Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 100-119, title I, § 106(a), Sept. 29, 1987, 101 Stat. 780; Pub. L. 100-203, title VIII, § 8003(c), Dec. 22, 1987, 101 Stat. 1330-282; Pub. L. 101-508, title XIII, §§ 13112(a)(2), 13201(b)(1), 13211(a), Nov. 5, 1990, 104 Stat. 1388–607, 1388–614, 1388–620.)

AMENDMENTS

1990-Par. (2). Pub. L. 101-508, § 13211(a), amended par. (2) generally. Prior to amendment, par. (2) read as follows: "The term 'budget authority' means authority provided by law to enter into obligations which will result in immediate or future outlays involving Government funds or to collect offsetting receipts., except that such term does not include authority to insure or guarantee the repayment of indebtedness incurred by another person or government. The term includes the cost for direct loan and loan guarantee programs, as those terms are defined by subchapter III of this chapter".

Pub. L. 101-508, § 13201(b)(1), inserted at end: "The term includes the cost for direct loan and loan guarantee programs, as those terms are defined by subchapter III of this chapter".

Pars. (6) to (8). Pub. L. 101-508, § 13112(a)(2), added pars. (6) to (8) and struck out former par. (6) which defined "deficit" and contained provisions relating to calculation of the deficit, former par. (7) which defined "maximum deficit amount", and former par. (8) which defined "off-budget Federal entity".

EFFECTIVE DATE OF 1990 AMENDMENT

Section 13211(b) of Pub. L. 101-508 provided that: "The amendment made by subsection (a) [amending this section] shall be effective for fiscal year 1992 and subsequent fiscal years."

EFFECTIVE DATE OF 1985 AMENDMENT

Amendment by sections 201(a)(1) and 232(b) of Pub. L. 99-177 effective Dec. 12, 1985, and applicable with respect to fiscal years beginning after Sept. 30, 1985, and amendment by section 201(a)(2) of Pub. L. 99–177 effective Apr. 15, 1986, see section 275(a)(1), (2)A) of Pub. L. 99-177, as amended, set out as an Effective and Termination Dates note under section 900 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 652, 900 of this title; title 39 section 2009a.

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][ocr errors][subsumed][subsumed][subsumed][merged small][merged small][merged small][ocr errors][ocr errors][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][ocr errors][subsumed][subsumed][ocr errors][subsumed][subsumed][subsumed][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]

survivors, and disability insurance program established under title II of the Social Security Act [42 U.S.C. 401 et seq.] for the fiscal year of the resolution and for each of the 4 succeeding fiscal years; and

(7) For 1 purposes of Senate enforcement under this subchapter, revenues of the oldage, survivors, and disability insurance program established under title II of the Social Security Act (and the related provisions of the Internal Revenue Code of 1986 [26 U.S.C. 1 et seq.]) for the fiscal year of the resolution and for each of the 4 succeeding fiscal years. The concurrent resolution shall not include the outlays and revenue totals of the old age,2 survivors, and disability insurance program established under title II of the Social Security Act or the related provisions of the Internal Revenue Code of 1986 in the surplus or deficit totals required by this subsection or in any other surplus or deficit totals required by this subchapter.

(b) Additional matters in concurrent resolution

The concurrent resolution on the budget may

[See main edition for text of (1) and (2)]

(3) require a procedure under which all or certain bills or resolutions providing new budget authority or new entitlement authority for such fiscal year shall not be enrolled until the Congress has completed action on any reconciliation bill or reconciliation resolution or both required by such concurrent resolution to be reported in accordance with section 641(b) of this title;

(4) set forth such other matters, and require such other procedures, relating to the budget, as may be appropriate to carry out the purposes of this Act;

(5) include a heading entitled "Debt Increase as Measure of Deficit" in which the concurrent resolution shall set forth the amounts by which the debt subject to limit (in section 3101 of title 31) has increased or would increase in each of the relevant fiscal years;

(6) include a heading entitled "Display of Federal Retirement Trust Fund Balances" in which the concurrent resolution shall set forth the balances of the Federal retirement trust funds;

(7) set forth pay-as-you-go procedures for the Senate whereby

(A) budget authority and outlays may be allocated to a committee for legislation that increases funding for entitlement and mandatory spending programs within its jurisdiction if that committee or the committee of conference on such legislation reports such legislation, if, to the extent that the costs of such legislation are not included in the concurrent resolution on the budget, the enactment of such legislation will not increase the deficit (by virtue of either deficit reduction in the bill or previously passed

2 So in original. Probably should be "old-age,".

« AnteriorContinuar »