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8 661e. Treatrnent of deposit insurance and agencies

and other insurance programs

(b) Authorization for financing accounts

In order to implement the accounting required by this subchapter, the President is authorized to establish such non-budgetary accounts as may be appropriate. (c) Treasury transactions with financing accounts

The Secretary of the Treasury shall borrow from, receive from, lend to, or pay to the financing accounts such amounts as may be appropriate. The Secretary of the Treasury may prescribe forms and denominations, maturities, and terms and conditions for the transactions described above. The authorities described above shall not be construed to supercede or override the authority of the head of a Federal agency to administer and operate a direct loan or loan guarantee program. All of the transactions provided in this subsection shall be subject to the provisions of subchapter II of chapter 15 of title 31. Cash balances of the financing accounts in excess of current requirements shall be maintained in a form of uninvested funds and the Secretary of the Treasury shall pay interest on these funds. (d) Authorization for liquidating accounts

If funds in liquidating accounts are insufficient to satisfy the obligations and commitments of said accounts, there is hereby provided permanent, indefinite authority to make any payments required to be made on such obligations and commitments.

(a) · In general

(1) This subchapter shall not apply to the credit or insurance activities of the Federal Deposit Insurance Corporation, National Credit Union Administration, Resolution Trust Corporation, Pension Benefit Guaranty Corporation, National Flood Insurance, National Insurance Development Fund, Crop Insurance, or Tennessee Valley Authority.

(2) The Director and the Director of the Congressional Budget Office shall each study whether the accounting for Federal deposit insurance programs should be on a cash basis on the same basis as loan guarantees, or on a different basis. Each Director shall report findings and recommendations to the President and the Congress on or before May 31, 1991.

(3) For the purposes of paragraph (2), the Office of Management and Budget and the Congressional Budget Office shall have access to all agency data that may facilitate these studies. (Pub. L. 93-344, title V, $ 506, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-614.)

PRIOR PROVISIONS A prior section 506 of Pub. L. 93-344, title V, July 12, 1974, 88 Stat. 322, amended section 105 of Title 1, General Provisions, and enacted provisions set out as a note under section 105 of Title 1, prior to the general revision of title V of Pub. L. 93-344 by Pub. L. 101-508.

8 661f. Effect on other laws

(e) Authorization of appropriations for implementa

tion expenses There are authorized to be appropriated to existing accounts such sums as may be necessary for salaries and expenses to carry out the responsibilities under this subchapter. (f) Reinsurance

Nothing in this subchapter shall be construed as authorizing or requiring the purchase of insurance or reinsurance on a direct loan or loan guarantee from private insurers. If any such reinsurance for a direct loan or loan guarantee is authorized, the cost of such insurance and any recoveries to the Government shall be included in the calculation of the cost. (g) Eligibility and assistance

Nothing in this subchapter shall be construed to change the authority or the responsibility of a Federal agency to determine the terms and conditions of eligibility for, or the amount of assistance provided by a direct loan or a loan guarantee. (Pub. L. 93-344, title V, $ 505, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-613.)

(a) Effect on other laws

This subchapter shall supersede, modify, or repeal any provision of law enacted prior to November 5, 1990, to the extent such provision is inconsistent with this subchapter. Nothing in this subchapter shall be construed to establish a credit limitation on any Federal loan or loan guarantee program. (b) Crediting of collections

Collections resulting from direct loans obligated or loan guarantees committed prior to October 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so credited shall be available, to the same extent that they were available prior to November 5, 1990, to liquidate obligations arising from such direct loans obligated or loan guarantees committed prior to October 1, 1991, including repayment of any obligations held by the Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year. (Pub. L. 93-344, title V, $ 507, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-614.)

PRIOR PROVISIONS A prior section 505 of Pub. L. 93-344, title V, July 12, 1974, 88 Stat. 322, repealed sections 66 and 81 of this title.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title 22 section 2197.

So in original. Section enacted without a subsec. (b).

Page 77

TITLE 2—THE CONGRESS

8 665

agencija

SUBCHAPTER IV-BUDGET AGREEMENT

ENFORCEMENT PROVISIONS SUBCHAPTER RW ERRED TO IN OTHER SECTIONS This subchapter is referred to in sections 907a, 907b of this title.

to the Eral De

Credit Corpo ration, urance ennes

in

new budget authority and $540,800,000,000 in outlays; and

(F) with respect to fiscal years 1996, 1997, and 1998, for the discretionary category, the amounts set forth for those years in section 12(b)(1) of House Concurrent Reso

lution 64 (One Hundred Third Congress); as adjusted in strict conformance with section 251 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901).

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(b) Point of order in Senate on aggregate allocations

for defense, international, and domestic discre

tionary spending (1) Except as otherwise provided in this subsection, it shall not be in order in the Senate to consider any concurrent resolution on the budget for fiscal year 1995, 1996, 1997, or 1998 (or amendment, motion, or conference report on such a resolution) that would exceed any of the discretionary spending limits in this section.

(3)1 For purposes of this subsection, the levels of new budget authority and outlays for a fiscal year shall be determined on the basis of estimates made by the Committee on the Budget of the Senate.

(4) This subsection shall not apply if a declaration of war by the Congress is in effect or if a joint resolution pursuant to section 258 ? of the Balanced Budget and Emergency Deficit Control Act of 1985 has been enacted. (Pub. L. 93-344, title VI, $ 601, as added Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388-602; amended Pub. L. 103-66, title XIV, $ 14002(a), (b), Aug. 10, 1993, 107 Stat. 683.)

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8 665. Definitions and point of order (a) Definitions

As used in this subchapter and for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985: (1) Maximum deficit amount

The term "maximum deficit amount" means

(A) with respect to fiscal year 1991, $327,000,000,000;

(B) with respect to fiscal year 1992, $317,000,000,000;

(C) with respect to fiscal year 1993, $236,000,000,000;

(D) with respect to fiscal year 1994, $102,000,000,000;

(E) with respect to fiscal year 1995, $83,000,000,000; as adjusted in strict conformance with sections 251, 252, and 253 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901, 902, 903). (2) Discretionary spending limit

The term “discretionary spending limit” means

(A) with respect to fiscal year 1991

(i) for the defense category: $288,918,000,000 in new budget authority and $297,660,000,000 in outlays;

(ii) for the international category: $20,100,000,000 in new budget authority and $18,600,000,000 in outlays; and

(iii) for the domestic category: $182,700,000,000 in new budget authority and $198,100,000,000 in outlays; (B) with respect to fiscal year 1992

(i) for the defense category: $291,643,000,000 in new budget authority and $295,744,000,000 in outlays;

(ii) for the international category: $20,500,000,000 in new budget authority and $19,100,000,000 in outlays; and

(iii) for the domestic category: $191,300,000,000 in new budget authority and $210,100,000,000 in outlays; (C) with respect to fiscal year 1993—

(i) for the defense category: $291,785,000,000 in new budget authority and $292,686,000,000 in outlays;

(ii) for the international category: $21,400,000,000 in new budget authority and $19,600,000,000 in outlays; and

(iii) for the domestic category: $198,300,000,000 in new budget authority and $221,700,000,000 in outlays;

(D) with respect to fiscal year 1994, for the discretionary category: $510,800,000,000 in new

budget authority and $534,800,000,000 in outlays;

(E) with respect to fiscal year 1995, for the discretionary category: $517,700,000,000

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REFERENCES IN TEXT The Balanced Budget and Emergency Deficit Control Act of 1985, referred to in subsec. (a), is title II of Pub. L. 99-177, Dec. 12, 1985, 99 Stat. 1038, as amend. ed, which enacted chapter 20 (8 900 et seq.) and sections 654 to 656 of this title, amended sections 602, 622, 631 to 642, and 651 to 653 of this title, sections 1104 to 1106, and 1109 of Title 31, Money and Finance, and section 911 of Title 42, The Public Health and Welfare, repealed section 661 of this title, enacted provisions set out as notes under section 900 of this title and section 911 of Title 42, and amended provisions set out as a note under section 621 of this title. There are two sections 258 of such Act, referred to in subsec. (b)(4), which are classified, respectively, to sections 9078 and 908 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 900 of this title and Tables.

House Concurrent Resolution 64, referred to in subsec. (a)(2)(F), is H. Con. Res. 64, Apr. 1, 1993, 107 Stat. which is not classified to the Code.

PRIOR PROVISIONS A prior section 601 of Pub. L. 93-344, title VI, July 12, 1974, 88 Stat. 323, was classified to section 11 of former Title 31, prior to repeal and reenactment as sections 1105(a)(15), 1106(b), and 1108(d) of Title 31, Money and Finance, by Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

1 Subsec. (b) enacted without a par. (2).

? There are two sections 258. See References in Text note below.

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a

AMENDMENTS

in the conference report, of the appropriate 1993–Subsec. (a)(2)(F). Pub. L. 103-66, § 14002(a),

levels of

added subparagraph (F).

(A) total new budget authority; Subsec. (b)(1). Pub. L. 103-66, $ 14002(b), amended par. (1) generally. Prior to amendment, par. (1) read as

(B) total outlays; and follows: "Except as provided in paragraph (3), it shall

(C) social security outlays; not be in order in the Senate to consider any concurrent resolution on the budget for fiscal year 1992,

among each committee of the Senate that has 1993, 1994, or 1995 (or amendment, motion, or confer

jurisdiction over legislation providing or cre. ence report on such a resolution), or any appropria- ating such amounts. tions bill or resolution (or amendment, motion, or conference report on such an appropriations bill or reso

(3) Amounts not allocated lution) for fiscal year 1992 or 1993 that would exceed

(A) In the House of Representatives, if a the allocations in this section or the suballocations made under section 665a(b) of this title based on these

committee receives no allocation of new allocations."

budget authority, entitlement authority, or

outlays, that committee shall be deemed to
EFFECTIVE DATE

have received an allocation equal to zero for
Section 607 of title VI of Pub. L. 93-344, as added by new budget authority, entitlement authority,
Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 or outlays.
Stat. 1388-607, and amended by Pub. L. 102-66, title

(B) In the Senate, if a committee receives
XIV, § 14002(c)(3)(B), Aug. 10, 1993, 107 Stat. 684, pro-
vided that: “This title Cenacting this subchapter) shall

no allocation of new budget authority, outtake effect upon its date of enactment (Nov. 5, 1990)

lays, or social security outlays, that commitand shall apply to fiscal years 1991 to 1998."

tee shall be deemed to have received an allo

cation equal to zero for new budget authority, SECTION REFERRED TO IN OTHER SECTIONS

outlays, or social security outlays. This section is referred to in sections 6650, 665e, 900, 903 of this title; title 22 sections 5853, 5859a.

(b) Suballocations by committees 8 665a. Committee allocations and enforcement

(1) Suballocations by Appropriations Committees (a) Committee spending allocations

As soon as practicable after a budget resolu

tion is agreed to, the Committee on Appro(1) House of Representatives

priations of each House (after consulting with (A) Allocation among committees

the Committee on Appropriations of the The joint explanatory statement

other House) shall suballocate each amount accompanying a conference report on allocated to it for the budget year under subbudget resolution shall include allocations, section (a)(1)(A) or (a)(2) of this section consistent with the resolution recommend- among its subcommittees. Each Committee ed in the conference report, of the appropri- on Appropriations shall promptly report to ate levels (for each fiscal year covered by its House suballocations made or revised that resolution and a total for all such under this paragraph. years) of

(2) Suballocations by other committees of the
(i) total new budget authority,

Senate
(ii) total entitlement authority, and
(iii) total outlays;

Each other committee of the Senate to

which an allocation under subsection (a)(2) of among each committee of the House of Representatives that has jurisdiction over

this section is made in the joint explanatory legislation providing creating such

statement may subdivide each amount allo

cated to it under subsection (a) of this section amounts.

among its subcommittees or among programs (B) No double counting

over which it has jurisdiction and shall Any item allocated to one committee of promptly report any such suballocations to the House of Representatives may not be the Senate. Section 633(c) of this title shall allocated to another such committee.

not apply in the Senate to committees other (C) Further division of amounts

than the Committee on Appropriations. The amounts allocated to each committee

(c) Application of section 633(f) of this title to this for each fiscal year, other than the Com

section mittee on Appropriations, shall be further divided between amounts provided or re

In fiscal years through 1995, reference in secquired by law on the date of filing of that

tion 633(f) of this title to the appropriate alloconference report and amounts not so pro

cation made pursuant to section 633(b) of this vided or required. The amounts allocated to

title for a fiscal year shall, for purposes of this the Committee on Appropriations for each

section, be deemed to be a reference to any allofiscal year shall be further divided between

cation made under subsection (a) of this section discretionary and mandatory amounts or

or any suballocation made under subsection (b) programs, as appropriate.

of this section, as applicable, for the fiscal year

of the resolution or for the total of all fiscal (2) Senate allocation among committees

years made by the joint explanatory statement The joint explanatory statement

accompanying the applicable concurrent resoluaccompanying a conference report on a tion on the budget. In the House of Representbudget resolution shall include an allocation, atives, the preceding sentence shall not apply

sistent with the resolution recommended with respect to fiscal year 1991.

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ered for the purposes of this Act as allocations, functional levels, and budget aggregates contained in the most recently agreed to con

current resolution on the budget. (Pub. L. 93-344, title VI, $ 602, as added Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388-603.)

that has
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(d) Application of subsections (a) and (b) to fiscal

years 1992 to 1995 In the case of concurrent resolutions on the budget for fiscal years 1992 through 1995, allocations shall be made under subsection (a) of this section instead of section 633(a) of this title and shall be made under subsection (b) of this section instead of section 633(b) of this title. For those fiscal years, all references in sections : 633(c), (d), (e), (f), and (g) of this title to section 633(a) of this title shall be deemed to be to subsection (a) of this section (including revisions made under section 665c of this title) and all such references to section 633(b) of this title shall be deemed to be to subsection (b) of this section (including revisions made under section 665c of this title).

REFERENCES IN TEXT

of net

rity, or med to cero for

hority.

This Act, referred to in subsec. (e)(2)(B), 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 ila, 11c, 110, 1020a of former Title 31, Money and Fi. nance, amended sections 11, 665, 701, 1020, 1151, 1152, 1153, and 1154 of former Title 31, section 105 of Title 1, General Provisions, sections 1905 and 190d of this title, repealed sections 571 and 5810-1 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.

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PRIOR PROVISIONS

tees

esolu

A prior section 602 of Pub. L. 93-344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment as section 1106(a) of Title 31, Money and Finance, by Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

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SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 665b, 901 of this title.

It to

erised

the

(e) Pay-as-you-go exception in House

(1) ? Section 633(f)(1) of this title and, after April 15 of any calendar year section 634(a) of this title, shall not apply to any bill, joint resolution, amendment thereto, conference report thereon if, for each fiscal year covered by the most recently agreed to concurrent resolution on the budget

(1) the enactment of such bill or resolution as reported;

(2) the adoption and enactment of such amendment; or

(3) the enactment of such bill or resolution in the form recommended in such conference

report, would not increase the deficit for any such fiscal year, and, if the sum of any revenue increases provided in legislation already enacted during the current session (when added to revenue increases, if any, in excess of any outlay increase provided by the legislation proposed for consideration) is at least as great as the sum of the amount, if any, by which the aggregate level of Federal revenues should be increased as set forth in that concurrent resolution and the amount, if any, by which revenues are to be increased pursuant to pay-as-you-go procedures under section 632(b)(8) of this title if included in that concurrent resolution. (2) REVISED ALLOCATIONS.

(A) As soon as practicable after Congress agrees to a bill or joint resolution that would have been subject to a point of order under section 633(f)(1) of this title but for the exception provided in paragraph (1), the chairman of the Committee on the Budget of the House of Representatives may file with the House appropriately revised allocations under section 633(a) of this title and revised functional levels and budget aggregates to reflect that bill.

(B) such 3 revised allocations, functional levels, and budget aggregates shall be consid

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8 665b. Consideration of legislation before adoption

of budget resolution for that fiscal year (a) ADJUSTING SECTION ALLOCATION OF DISCRETIONARY SPENDING.—If a concurrent resolution on the budget is not adopted by April 15, the chairman of the Committee on the Budget of the House of Representatives shall submit to the House, as soon as practicable, a section 602(a) [2 U.S.C. 665a(a)] allocation to the Com. mittee on Appropriations consistent with the discretionary spending limits contained in the most recent budget submitted by the President under section 1105(a) of title 31. Such allocation shall include the full allowance specified under section 901(b)(2)(E)(i) of this title.

(b) As soon as practicable after a section 602(a) (2 U.S.C. 665a(a)] allocation is submitted under this section, the Committee on Appropriations shall make suballocations and promptly report those suballocations to the House of Representatives. (Pub. L. 93-344, title VI, $ 603, as added Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388-605.)

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PRIOR PROVISIONS

'80 in original. Probably should be "section". * Par. (1) designation supplied editorially. "So in original. Probably should be capitalized.

A prior section 603 of Pub. L. 93-344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment in section 1105(a)(1)-(14) of Title 31, Money and Finance, by Pub. L. 97-258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

8 665c. Reconciliation directives regarding pay-as- (b) Maximum deficit amount point of order in Senate you-go requirements

After Congress has completed action on a (a) Instructions to effectuate pay-as-you-go in House concurrent resolution on the budget, it shall of Representatives

not be in order in the Senate to consider any If legislation providing for a net reduction in bill, resolution, amendment, motion, or conferrevenues in any fiscal year (that, within the

ence report that would result in a deficit for same measure, is not fully offset in that fiscal the first fiscal year covered by that resolution year by reductions in direct spending) is en

that exceeds the maximum deficit amount specacted, the Committee on the Budget of the ified for such fiscal year in section 665(a) of House of Representatives may report, within 15

this title. legislative days during a Congress, a pay-as-you

(Pub. L. 93-344, title VI, $ 605, as added Pub. L. go reconciliation directive in the form of a con

101-508, title XIII, § 13111, Nov. 5, 1990, 104 current resolution

Stat. 1388–606.) (1) specifying the total amount by which revenues sufficient to eliminate the net defi

PRIOR PROVISIONS cit increase resulting from that legislation in each fiscal year are to be changed; and

A prior section 605 of Pub. L. 93-344, title VI, July (2) directing that the committees having ju- 12, 1974, 88 Stat. 325, was classified to section 11a of risdiction determine and recommend changes former Title 31, prior to repeal and reenactment in in the revenue law, bills, and resolutions to

section 1109 of Title 31, Money and Finance, by Pub. accomplish a change of such total amount.

L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, the first

section of which enacted Title 31. (b) Consideration of pay-as-you-go reconciliation leg. islation in House of Representatives

8 665e. 5-year budget resolutions; budget resolutions In the House of Representatives, subsections must conform to Balanced Budget and Emergen(b) through (d) of section 641 of this title shall cy Deficit Control Act of 1985 apply in the same manner as if the reconciliation directive described in subsection (a) of this (a) 5-year budget resolutions section were a concurrent resolution on the

In the ca of any concurrent resolution on budget.

the budget for fiscal year 1992, 1993, 1994, or (Pub. L. 93-344, title VI, $ 604, as added Pub. L. 1995, that resolution shall set forth appropriate 101-508, title XIII, § 13111, Nov. 5, 1990, 104 levels for the fiscal year beginning on October 1 Stat. 1388-605.)

of the calendar year in which it is reported and

for each of the 4 succeeding fiscal years for the PRIOR PROVISIONS

matters described in section 632(a) of this title. A prior section 604 of Pub. L. 93-344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of (b) Point of order in House of Representatives former Title 31, prior to repeal and reenactment in section 1105(a)(1)-(14) of Title 31, Money and Finance,

It shall not be in order in the House of Repreby Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, sentatives to consider any concurrent resoluthe first section of which enacted Title 31.

tion on the budget for a fiscal year or confer

ence report thereon under section 632 or 635 of SECTION REFERRED TO IN OTHER SECTIONS

this title that exceeds the maximum deficit This section is referred to in section 665a of this amount for each fiscal year covered by the contitle.

current resolution or conference report as de

termined under section 665(a) of this title, in8 665d. Application of section 642 of this title; point

cluding possible revisions under part C of the of order

Balanced Budget and Emergency Deficit Con(a) Application of section 642(a) of this title

trol Act of 1985 (2 U.S.C. 900 et seq.). (1) In the House of Representatives, in the

(c) Point of order in Senate application of section 642(a)(1) of this title to any bill, resolution, amendment, or conference It shall not be in order in the Senate to conreport, reference in section 642 of this title to sider any concurrent resolution on the budget the appropriate level of total budget authority for a fiscal year under section 632 of this title, or total budget outlays or appropriate level of or to consider any amendment to such a contotal revenues set forth in the most recently current resolution, or to consider a conference agreed to concurrent resolution on the budget report on such a concurrent resolution, if the for a fiscal year shall be deemed to be a refer- level of total budget outlays for the first fiscal ence to the appropriate level for that fiscal year that is set forth in such concurrent resoluyear and to the total of the appropriate level tion or conference report exceeds the recomfor that year and the 4 succeeding years.

mended level of Federal revenues set forth for (2) In the Senate, in the application of sec- that year by an amount that is greater than the tion 642(a)(2) of this title to any bill, resolution, maximum deficit amount for such fiscal year as motion, or conference report, reference in sec- determined under section 665(a) of this title, or tion 642 of this title to the appropriate level of if the adoption of such amendment would total revenues set forth in the most recently result in a level of total budget outlays for that agreed to concurrent resolution on the budget fiscal year which exceeds the recommended for a fiscal year shall be deemed to be a refer- level of Federal revenues for that fiscal year, by ence to the appropriate level for that fiscal

an amount that is greater than the maximum year and to the total of the appropriate levels deficit amount for such fiscal years as deterfor that year and the 4 succeeding years.

mined under section 665(a) of this title.

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