Title I: Budget With Force of Law - Amends the Congressional Budget Act of 1974 (CBA) to revise required contents of the annual budget resolution. Requires such resolution to set forth, for the current fiscal year and for at least each of the four ensuing fiscal years: (1) subtotals of new budget authority and outlays for nondefense and defense discretionary spending, direct spending (excluding interest), and interest; and (2) subtotals of new budget authority and outlays for emergencies, for fiscal years to which the amendments made by title II of this Act apply. (Current law requires the resolution to set forth levels of new budget authority and outlays for each major functional category.)
Removes a provision which requires the resolution to exclude the outlays and revenue totals of the Old Age, Survivors, and Disability Insurance program in surplus and deficit totals required under congressional budget process provisions.
Revises matters which may be included in the budget resolution. Authorizes the resolution to change the statutory limit on the public debt if the amendment is submitted by the Committee on Ways and Means of the House of Representatives or the Senate Finance Committee to the appropriate Budget Committee.
Requires the report accompanying the resolution to include: (1) new budget authority and outlays for each major functional category based on allocations of total levels; (2) a measure, as a percentage of gross domestic product, of total outlays, total Federal revenues, the surplus or deficit, and new outlays for nondefense discretionary, defense, and direct spending; and (3) a justification for not subjecting any program or activity for which an allocation is made to annual discretionary appropriations if the resolution includes any committee allocation (other than the Appropriations Committees) exceeding current law levels.
Amends Federal provisions concerning elements of the President's required budget submission to the Congress. Requires such submission to include, for the affected fiscal year and at least each of the nine ensuing fiscal years: (1) totals of new budget authority and outlays; (2) total Federal revenues and the amount by which the aggregate level of revenues should be increased or decreased by reported bills and resolutions; (3) the budget surplus or deficit; (4) subtotals of new budget authority and outlays for nondefense and defense discretionary spending, direct spending, and interest; (5) the public debt; and (6) subtotals of new budget authority and outlays for emergencies for fiscal years to which title II of this Act applies.
Amends the CBA to provide a point of order against consideration of any budget resolution or related amendment or conference report that contains matter not specified in content requirements.
(Sec. 104) Removes a provision that provides for an adjustment of the allocation of discretionary spending in the House if the budget resolution is not adopted by April 15. Removes an exception which allows general appropriations bills in the House, after May 15, to be considered before the budget resolution has been agreed to. Eliminates a provision which exempts, after April 15, certain reported legislation which does not increase the deficit from a requirement that the budget resolution be adopted before consideration of budget-related legislation.
Requires a three-fifths majority in the Senate to waive or suspend provisions requiring the budget resolution to be adopted before budget-related legislation is considered.
Provides for expedited procedures upon presidential veto of the budget resolution. Authorizes the House or Senate majority leader to introduce a concurrent or joint budget resolution upon such veto. Discharges the Budget Committees from further consideration of the resolution if such resolution is not reported within five days of referral. Deems any agreed-to concurrent resolution to be the budget resolution for the applicable fiscal years.
(Sec. 105) Changes CBA references to the concurrent resolution to the joint resolution.
Title II: Reserve Fund for Emergencies - Repeals provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) regarding: (1) discretionary spending limits and emergency appropriations; and (2) direct spending and emergency legislation.
(Sec. 206) Amends the CBA to provide for adjustments in allocations for the amount of new budget authority or outlays and outlays flowing from budget authority after reporting of a joint budget resolution that provides budget authority for an emergency. Prohibits such adjustments from exceeding the amount reserved for emergencies established by this Act. Requires the amount set forth in the reserve fund for emergencies for budget authority and outlays for a fiscal year to equal: (1) the average of the enacted levels of budget authority for emergencies in the five fiscal years preceding the current year; and (2) the average of the levels of outlays for emergencies in the five fiscal years preceding the current year flowing from such budget authority, but only in the fiscal year for which such authority first becomes available for obligation.
Requires committees, when reporting legislation that provides budget authority for any emergency, to identify all provisions that provide such authority and the resulting outlays in the accompanying report or joint explanatory statement of managers.
(Sec. 207) Includes up-to-date tabulations of amounts remaining in the reserve fund for emergencies in summary budget scorekeeping reports provided by the Budget Committees.
(Sec. 208) Makes it out of order to consider an amendment to a budget resolution which changes the amount of budget authority and outlays set forth for the emergency reserve fund.
Permits limitations on the contents of the budget resolution and the point of order against changing the budget authority and outlays for the emergency reserve fund to be waived or suspended only by a three-fifths majority in the Senate.
(Sec. 209) Makes the amendments of this title effective only after the enactment of legislation changing or extending for any fiscal year any of the budgetary procedures set forth in Gramm-Rudman-Hollings Act provisions regarding discretionary spending limits and pay-as-you-go requirements.
Title III: Enforcement of Budgetary Decisions - Subtitle A: Application of Points of Order to Unreported Legislation - Applies a certain point of order against the consideration of unreported legislation in the House before the adoption of the budget resolution.
Subtitle B: Compliance with Budget Resolution - Amends rule XIII of the Rules of the House to require committee reports to include a budget compliance statement prepared by the chairman of the Budget Committee.
Subtitle C: Justification for Budget Act Waivers - Amends rule XIII of the Rules of the House to provide a point of order against consideration of any resolution from the Committee on Rules to consider any reported legislation which waives specified provisions of the CBA unless the report contains certain information on the provision proposed for waiver.
Subtitle D: CBO Scoring of Conference Reports - Amends the CBA to provide for Congressional Budget Office (CBO) analysis and scoring of conference reports. Requires such analysis to include, for reported legislation and conference reports, a determination of whether the measure provides direct spending.
Title IV: Accountability for Federal Spending - Subtitle A: Limitations on Direct Spending - Provides a point of order in the House and the Senate against consideration of legislation that provides direct spending for a new program unless such spending is limited to a period of ten or fewer fiscal years. Removes provisions regarding points of order and legislation providing new entitlement authority.
Amends rule XXI of the Rules of the House to make it out of order to consider any legislation that authorizes the appropriation of new budget authority for a new program unless such authorization is specifically provided for ten or fewer fiscal years.
(Sec. 412) Amends rule XVIII of the Rules of the House to provide that, in the Committee of the Whole, an amendment to subject a new program providing direct spending to discretionary appropriations if offered by the chairman of the Budget or Appropriations Committees may be precluded from consideration only by the specific terms of a special House order.
Declares that the purpose of the following amendments is to hold the discretionary spending limits and allocations made to the Appropriations Committee harmless for legislation that offsets a new discretionary program with a designated reduction in direct spending.
Amends the Gramm-Rudman-Hollings Act to require, if a provision of direct spending legislation is enacted that decreases direct spending for any fiscal year and is designated as an offset and specifically identifies an authorization of discretionary appropriations for a new program, the reductions in new budget authority and outlays resulting from such provision to be designated as an offset in specified CBO pay-as-you-go estimates. Excludes such offsets from such estimates.
Requires, if an Act other than an appropriation Act includes provisions reducing direct spending and identifies those provisions as offsets, the adjustments to be an increase in the discretionary spending limits for budget authority and outlays in each fiscal year equal to such authority and outlay reductions, respectively, achieved by the specified offsets. Prohibits the adjustments for the budget year in which the offsetting provisions take effect from exceeding the amount of discretionary new budget authority provided for the new program in an Act making discretionary appropriations and the resulting outlays.
Provides for: (1) adjustments to discretionary spending limits, allocations, and budgetary allocations resulting from programs for which offsets were designated and resulting outlays; and (2) reductions of committee allocations of new budget authority and outlays with respect to reported legislation containing provisions that decrease direct spending and are designated as offsets.
Subtitle B: Enhanced Congressional Oversight Responsibilities - Amends rule X of the Rules of the House to require House committees, in developing oversight plans, to provide a specific timetable for review of laws, programs, or agencies within their jurisdiction.
Removes a provision of such rule pertaining to procedures for consideration of legislation providing new entitlement authority which exceeds the appropriate allocation of budget authority.
Requires the House Appropriations Committee to report at least once each Congress (currently, from time to time) on recommendations for terminating or modifying provisions of law which provide permanent budget authority.
(Sec. 422) Amends the CBA to require the joint explanatory statement accompanying a conference report on a joint budget resolution that includes an allocation to a committee (other than the Appropriations Committee) of levels exceeding current law levels to set forth a justification for not subjecting any program to annual discretionary appropriations. Makes conforming amendments to provisions regarding the presidential budget submission and to House rules regarding committee consideration of legislation.
(Sec. 424) Requires the Budget Committees, during the 106th Congress, to report results of a study on budget reform proposals.
Subtitle C: Strengthened Accountability - Requires certain reports on legislation providing new budget authority or increases or decreases in revenues or tax expenditures to include CBO projections of how such legislation will affect levels of budget authority, outlays, revenue, or tax expenditures for the affected fiscal year and the ensuing nine (currently, four) fiscal years. Provides for ten-year (currently, four) CBO cost estimates of reported legislation as well.
Amends rule XIII of the Rules of the House to require committee reports to contain cost estimates for each of 11 fiscal years.
(Sec. 432) Repeals rule XXIII (relating to the establishment of the statutory limit on the public debt) of the Rules of the House.
Title V: Budgeting for Unfunded Liabilities and Other Long-Term Obligations - Subtitle A: Budgetary Treatment of Federal Insurance Programs - Amends the CBA to establish a new title known as the Federal Insurance Budgeting Act of 1999.
Requires the President's budget, beginning with FY 2006, to be based on the risk-assumed cost of Federal insurance programs. Defines "risk-assumed cost" as the net present value of the estimated cash flows to and from the Government resulting from an insurance commitment or modification.
Requires the program accounts for such programs to pay: (1) the risk-assumed cost borne by the taxpayer to the financing account; and (2) actual insurance program administrative costs. Requires the financing accounts to: (1) receive premiums and other income; (2) pay all claims for insurance and receive all recoveries; and (3) transfer to the program account at least annually amounts necessary to pay administrative costs. Provides that a negative risk-assumed cost shall be transferred from the financing to the program account and from the program account to the general fund. Requires all payments by or receipts of the financing accounts to be treated in the budget as a means of financing.
Permits insurance commitments to be made for FY 2006 and thereafter only to the extent that new budget authority to cover the risk-assumed cost is provided in advance in an appropriations Act. Prohibits modification of an outstanding commitment in a manner that increases the risk-assumed cost unless budget authority for the additional cost has been provided in advance. Makes such requirements inapplicable to insurance programs that constitute entitlements.
Provides for re-estimations of risk-assumed cost in each subsequent year.
Requires agencies with responsibility for Federal insurance programs to develop models to estimate risk-assumed cost by year through the budget horizon and to submit such models, all relevant data, justifications for critical assumptions, and annual projected risk-assumed costs to the Office of Management and Budget (OMB) with budget requests each year starting with the request for FY 2002.
Directs OMB and CBO, after a comment period for interested persons, to revise the models, data, and major assumptions they would use to estimate the risk-assumed cost of Federal insurance programs.
Requires the President's budget submissions and budgets and CBO's reports on the economic and budget outlook for FY 2003 through 2005 to estimate, for display purposes only, the risk-assumed cost of existing or proposed Federal insurance programs.
Requires OMB, CBO, and the General Accounting Office to report to the Budget Committees on the advisability and appropriate implementation of this subtitle.
Authorizes appropriations for FY 2000 through 2005 to OMB and each agency responsible for administering a Federal program to carry out this subtitle.
Directs the Secretary of the Treasury to borrow from, receive from, lend to, or pay the insurance financing accounts appropriate amounts.
Establishes a financing account for each Federal insurance program on September 30, 2005. Appropriates to such accounts the amount of the risk-assumed cost of outstanding Federal insurance commitments as of the close of September 30, 2005.
Terminates this subtitle on the last day of FY 2007.
Subtitle B: Reports on Long-Term Budgetary Trends - Requires the President's budget submission to include: (1) an analysis based upon current law and one based upon the policy assumptions underlying the submission for every fifth year of the period of the 75 fiscal years beginning with the affected fiscal year of the estimated levels of total new budget authority, outlays, estimated revenues, surpluses, and deficits and, for Social Security, Medicare, Medicaid and all other direct spending, estimated levels of total new budget authority and outlays; and (2) a specification of underlying assumptions and a sensitivity analysis of factors that have a significant effect on the projections made in each analysis and a comparison of the effects of the two analyses on the economy. Establishes a conforming requirement for CBO's annual report to the Budget Committees on fiscal policy.
Title VI: Baselines, Byrd Rule, and Lock-Box - Subtitle A: The Baseline - Revises required elements of the President's budget submission to include percentage changes between the current year and the fiscal year for which the budget is submitted for: (1) estimated expenditures and appropriations which are necessary to support the Government, with an exception for detailed budget estimates; (2) laws in effect when the budget is submitted and proposals in the budget to increase revenues as well as for each of the nine ensuing fiscal years; and (3) certain proposed appropriations and expenditures for legislation that would establish or expand Government activities or functions, with an exception for detailed budget estimates.
Includes within the submission: (1) a comparison of levels of estimated expenditures and proposed appropriations for each function and subfunction in the current fiscal year and the fiscal year for which the budget is submitted, along with the proposed increase or decrease of spending in percentage terms for each function and subfunction; and (2) a table on sources of growth in total direct spending under current law and as proposed in the submission for the budget year and the ensuing nine fiscal years.
(Sec. 612) Amends the CBA to require the report accompanying the budget resolution to include a comparison of levels for the current fiscal year with proposed spending and revenue levels for subsequent fiscal years along with the proposed increase or decrease of spending in percentage terms for each function.
(Sec. 613) Includes similar requirements in certain CBO reports.
(Sec. 614) Requires the OMB and CBO Directors, in making budgetary projections for years for which there are no discretionary spending limits, to assume discretionary spending levels at the levels for the last fiscal year for which such levels were in effect.
Subtitle B: The Byrd Rule - Removes the applicability of certain procedures with respect to extraneous matter in reconciliation legislation to conference reports.
Subtitle C: Spending Accountability Lock-box - Spending Accountability Lock-box Act of 1999 - Directs the chairmen of the Budget Committees to each maintain a Spending Accountability Lock-box Ledger, to be divided into entries corresponding to the subcommittees of the Appropriations Committees. Requires each entry to consist of three components: (1) the House Lock-box Balance; (2) the Senate Lock-box Balance; and (3) the Joint House-Senate Lock-box Balance.
Authorizes Members of the House or the Senate, when offering an amendment to an appropriation bill to reduce new budget authority in any account, to state the portion of such reduction to be: (1) credited to the House or Senate Lock-box Balance; (2) used to offset an increase in new budget authority in any other account; or (3) allowed to remain within the Appropriations Committees' subcommittee suballocation. Credits the amount of the reduction to either Lock-box Balance, as applicable, if the amendment is agreed to and no such statement is made.
Requires the Budget Committee chairmen, upon the engrossment of any appropriation bill by the House and upon the engrossment of Senate amendments to that bill, to credit to the applicable entry balance of that House amounts of new budget authority and outlays equal to the net amounts of reductions in new budget authority and in outlays resulting from amendments agreed to by that House to that bill.
Specifies the amounts to be credited to the Joint House-Senate Lock-box Balance.
Requires a running tally to be available to Members of the House, during the consideration of any appropriations bill by the House, of the amendments adopted reflecting increases and decreases of budget authority in such bill as reported.
(Sec. 633) Provides for the downward adjustment, by the amounts credited to the applicable Joint House-Senate Lock-box Balance, of: (1) allocations for the House and Senate upon the engrossment of Senate amendments to any appropriation bill; and (2) suballocations, whenever a such a downward adjustment is made to an allocation.
(Sec. 634) Requires the CBO Director to include an up-to-date tabulation of the amounts contained in the Spending Accountability Lock-box Ledger and each entry in periodic reports.
(Sec. 635) Requires the downward adjustment of discretionary spending limits set forth in the Gramm-Rudman-Hollings Act by amounts set forth in the final regular appropriation bill for the fiscal year or joint resolution making continuing appropriations through the end of such fiscal year.
Subtitle D: Automatic Continuing Resolution - Amends Federal law to make appropriations, if any regular appropriation bill for a fiscal year does not become law prior to the beginning of such year or a continuing appropriations resolution is not in effect, to continue any program, project, or activity for which funds were provided in the preceding year: (1) in the corresponding regular appropriations Act for that year; or (2) in a continuing appropriations resolution for such year if the regular bill did not become law.
Makes such appropriations available: (1) at a rate of operations not to exceed the rate provided for the project in the preceding fiscal year; and (2) beginning with the first day of a lapse in appropriations and ending on the earlier of the date the regular appropriation bill, or continuing resolution, becomes law or the last day of the fiscal year. Excludes from the rate of operations amounts for which adjustments were made under the Gramm-Rudman-Hollings Act with respect to emergency appropriations or allowances for the International Monetary Fund or international arrearages. Subjects such appropriations to any conditions imposed in the preceding fiscal year or pursuant to current law.
Provides that nothing in this section shall be construed to affect Government obligations mandated by other law, including obligations with respect to Social Security, Medicare, and Medicaid.
Title VII: Budgeting in an Era of Surpluses - Revises provisions regarding sequestrations to require a sequestration to offset an amount equal to any excess of decreases in receipts and increases in direct spending over increases in receipts and decreases in direct spending for legislation enacted prior to October 1, 2002, minus the estimated on-budget surplus.
Revises sequestration calculation provisions to require the sequestration amount to be the sum of all OMB estimates for the budget year of direct spending and receipts legislation for legislation enacted prior to FY 2003, the estimated amount of savings in direct spending programs applicable to the budget year resulting from the prior year's sequestration, and all OMB estimates for the current year not reflected in the final sequestration report minus the OMB estimate of the on-budget surplus as set forth in the OMB sequestration update report.
Defines the "on-budget surplus" as the amount by which receipts exceed outlays for all Government spending and receipt accounts that are designated as on-budget. Excludes from such term outlays and receipts of the Federal Old-Age and Survivors and Disability Insurance Trust Funds or other off-budget entities.
Makes certain provisions regarding a special reconciliation process applicable to the House as well as the Senate.
Title VIII: Social Security Surplus Protection Act of 1999 - Social Security Surplus Protection Act of 1999 - Amends the Gramm-Rudman-Hollings Act to provide for a sequestration to eliminate any on-budget deficit (excluding any surplus in the social security trust funds). Provides that such deficit shall not be subject to adjustment for any purpose.
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1889 Referral Instructions Senate (RIS)]
106th CONGRESS
1st Session
S. 1889
To amend the Congressional Budget Act of 1974 to provide for joint
resolutions on the budget, reserve funds for emergency spending,
strengthened enforcement of budgetary decisions, increased
accountability for Federal spending, accrual budgeting for Federal
insurance programs, mitigation of the bias in the budget process toward
higher spending, modifications in paygo requirements when there is an
on-budget surplus, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
November 9, 1999
Mr. Grams introduced the following bill; which was read twice and
referred jointly pursuant to the order of August 4, 1977, to the
Committees on the Budget and Governmental Affairs, with instructions
that if one Committee reports, the other Committee has thirty days to
report or be discharged.
_______________________________________________________________________
A BILL
To amend the Congressional Budget Act of 1974 to provide for joint
resolutions on the budget, reserve funds for emergency spending,
strengthened enforcement of budgetary decisions, increased
accountability for Federal spending, accrual budgeting for Federal
insurance programs, mitigation of the bias in the budget process toward
higher spending, modifications in paygo requirements when there is an
on-budget surplus, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Comprehensive
Budget Process Reform Act of 1999''.
(b) Table of Contents.--
Sec. 1. Short title; table of contents.
Sec. 2. Purpose.
Sec. 3. Effective date.
Sec. 4. Declaration of purposes for the Budget Act.
TITLE I--BUDGET WITH FORCE OF LAW
Sec. 101. Purposes.
Sec. 102. The timetable.
Sec. 103. Annual joint resolutions on the budget.
Sec. 104. Budget required before spending bills may be considered;
fall-back procedures if President vetoes
joint budget resolution.
Sec. 105. Conforming amendments to effectuate joint resolutions on the
budget.
TITLE II--RESERVE FUND FOR EMERGENCIES
Sec. 201. Purpose.
Sec. 202. Repeal of adjustments for emergencies.
Sec. 203. OMB emergency criteria.
Sec. 204. Development of guidelines for application of emergency
definition.
Sec. 205. Reserve fund for emergencies in President's budget.
Sec. 206. Adjustments and reserve fund for emergencies in joint budget
resolutions.
Sec. 207. Up-to-date tabulations.
Sec. 208. Prohibition on amendments to emergency reserve fund.
Sec. 209. Effective date.
TITLE III--ENFORCEMENT OF BUDGETARY DECISIONS
Sec. 301. Purposes.
Subtitle A--Application of Points of Order to Unreported Legislation
Sec. 311. Application of Budget Act points of order to unreported
legislation.
Subtitle B--Compliance with Budget Resolution
Sec. 321. Budget compliance statements.
Subtitle C--Justification for Budget Act Waivers
Sec. 331. Justification for Budget Act waivers in the House of
Representatives.
Subtitle D--CBO Scoring of Conference Reports
Sec. 341. CBO scoring of conference reports.
TITLE IV--ACCOUNTABILITY FOR FEDERAL SPENDING
Sec. 401. Purposes.
Subtitle A--Limitations on Direct Spending
Sec. 411. Fixed-year authorizations required for new programs.
Sec. 412. Amendments to subject new direct spending to annual
appropriations.
Subtitle B--Enhanced Congressional Oversight Responsibilities
Sec. 421. Ten-year congressional review requirement of permanent budget
authority.
Sec. 422. Justifications of direct spending.
Sec. 423. Survey of activity reports of House committees.
Sec. 424. Continuing study of additional budget process reforms.
Sec. 425. GAO reports.
Subtitle C--Strengthened Accountability
Sec. 431. Ten-year CBO estimates.
Sec. 432. Repeal of rule XXIII of the Rules of the House of
Representatives.
TITLE V--BUDGETING FOR UNFUNDED LIABILITIES AND OTHER LONG-TERM
OBLIGATIONS
Sec. 501. Purposes.
Subtitle A--Budgetary Treatment of Federal Insurance Programs
Sec. 511. Federal insurance programs.
Subtitle B--Reports on Long-Term Budgetary Trends
Sec. 521. Reports on long-term budgetary trends.
TITLE VI--BASELINE, BYRD RULE, LOCK-BOX, AND AUTOMATIC CONTINUING
RESOLUTION
Sec. 601. Purpose.
Subtitle A--The Baseline
Sec. 611. The President's budget.
Sec. 612. The congressional budget.
Sec. 613. Congressional Budget Office reports to committees.
Sec. 614. Outyear assumptions for discretionary spending.
Subtitle B--The Byrd Rule
Sec. 621. Limitation on Byrd rule.
Subtitle C--Spending Accountability Lock-Box
Sec. 631. Short title.
Sec. 632. Spending accountability lock-box ledger.
Sec. 633. Downward adjustment of section 302(a) allocations and section
302(b) suballocations.
Sec. 634. Periodic reporting of ledger statements.
Sec. 635. Downward adjustment of discretionary spending limits.
Subtitle D--Automatic Continuing Resolution
Sec. 641. Automatic continuing resolution.
TITLE VII--BUDGETING IN AN ERA OF SURPLUSES
Sec. 701. Paygo requirements and the on-budget surplus.
TITLE VIII--SOCIAL SECURITY SURPLUS PROTECTION ACT OF 1999
Sec. 801. Short title.
Sec. 802. Sequester to protect the social security surplus.
SEC. 2. PURPOSE.
The purposes of this Act are to--
(1) give the budget the force of law;
(2) budget for emergencies;
(3) display the unfunded liabilities of Federal insurance
programs;
(4) strengthen enforcement of budgetary decisions;
(5) increase accountability for Federal spending;
(6) mitigate the bias in the budget process toward higher
spending; and
(7) modify paygo requirements when there is an on-budget
surplus.
SEC. 3. EFFECTIVE DATE.
Except as otherwise specifically provided, this Act and the
amendments made by this Act shall become effective on the date of
enactment of this Act and shall apply with respect to fiscal years
beginning after September 30, 2000.
SEC. 4. DECLARATION OF PURPOSES FOR THE BUDGET ACT.
Paragraphs (1) and (2) of section 2 of the Congressional Budget and
Impoundment Control Act of 1974 are amended to read as follows:
``(1) to assure effective control over the budgetary
process;
``(2) to facilitate the determination each year of the
appropriate level of Federal revenues and expenditures by the
Congress and the President;''.
TITLE I--BUDGET WITH FORCE OF LAW
SEC. 101. PURPOSES.
The purposes of this title are to--
(1) focus initial budgetary deliberations on aggregate
levels of Federal spending and taxation;
(2) encourage cooperation between Congress and the
President in developing overall budgetary priorities; and
(3) reach budgetary decisions early in the legislative
cycle.
SEC. 102. THE TIMETABLE.
Section 300 of the Congressional Budget Act of 1974 is amended to
read as follows:
``timetable
``Sec. 300. The timetable with respect to the congressional budget
process for any fiscal year is as follows:
``On or before: Action to be completed:
First Monday in February.......
President submits his budget.
February 15....................
Congressional Budget Office
submits report to
Budget Committees.
Not later than 6 weeks after
President submits budget.
Committees submit views and
estimates to Budget
Committees.
April 1........................
Senate Budget Committee reports
joint resolution on the
budget.
April 15.......................
Congress completes action on
joint resolution on the
budget.
June 10........................
House Appropriations Committee
reports last annual
appropriation bill.
June 15........................
Congress completes action on
reconciliation
legislation.
June 30........................
House completes action on
annual appropriation
bills.
October 1......................
Fiscal year begins.''.
SEC. 103. ANNUAL JOINT RESOLUTIONS ON THE BUDGET.
(a) Content of Annual Joint Resolutions on the Budget.--Section
301(a) of the Congressional Budget Act of 1974 is amended as follows:
(1) Strike paragraph (4) and insert the following new
paragraph:
``(4) subtotals of new budget authority and outlays for
nondefense discretionary spending, defense discretionary
spending, direct spending (excluding interest), and interest;
and for fiscal years to which the amendments made by title II
of the Comprehensive Budget Process Reform Act of 1999 apply,
subtotals of new budget authority and outlays for
emergencies;''.
(2) Strike the last sentence of such subsection.
(b) Additional Matters in Joint Resolution.--Section 301(b) of the
Congressional Budget Act of 1974 is amended as follows:
(1) Strike paragraphs (2), (4), (6), (8), and (9) and
redesignate paragraph (7) as paragraph (6).
(2) After paragraph (1), insert the following new
paragraph:
``(2) if submitted by the Committee on Ways and Means of
the House of Representatives or the Committee on Finance of the
Senate to the Committee on the Budget of that House of
Congress, amend section 3101 of title 31, United States Code,
to change the statutory limit on the public debt;''.
(3) After paragraph (3), insert the following new
paragraph:
``(4) require such other congressional procedures, relating
to the budget, as may be appropriate to carry out the purposes
of this Act;''.
(c) Required Contents of Report.--Section 301(e)(2) of the
Congressional Budget Act of 1974 is amended as follows:
(1) Redesignate subparagraphs (A), (B), (C), (D), (E), and
(F) as subparagraphs (B), (C), (E), (F), (H), and (I),
respectively.
(2) Before subparagraph (B) (as redesignated), insert the
following new subparagraph:
``(A) new budget authority and outlays for each
major functional category, based on allocations of the
total levels set forth pursuant to subsection
(a)(1);''.
(3) In subparagraph (C) (as redesignated), strike
``mandatory'' and insert ``direct spending''.
(4) After subparagraph (C) (as redesignated), insert the
following new subparagraph:
``(D) a measure, as a percentage of gross domestic
product, of total outlays, total Federal revenues, the
surplus or deficit, and new outlays for nondefense
discretionary spending, defense spending, and direct
spending as set forth in such resolution;''.
(5) After subparagraph (F) (as redesignated), insert the
following new subparagraph:
``(G) if the joint resolution on the budget
includes any allocation to a committee (other than the
Committee on Appropriations) of levels in excess of
current law levels, a justification for not subjecting
any program, project, or activity (for which the
allocation is made) to annual discretionary
appropriations;''.
(d) Additional Contents of Report.--Section 301(e)(3) of the
Congressional Budget Act of 1974 is amended as follows:
(1) Redesignate subparagraphs (A) and (B) as subparagraphs
(B) and (C), respectively, strike subparagraphs (C) and (D),
and redesignate subparagraph (E) as subparagraph (D).
(2) Before subparagraph (B), insert the following new
subparagraph:
``(A) reconciliation directives described in
section 310;''.
(e) President's Budget Submission to the Congress.--(1) The first
two sentences of section 1105(a) of title 31, United States Code, are
amended to read as follows:
``On or after the first Monday in January but not later than the first
Monday in February of each year the President shall submit a budget of
the United States Government for the following fiscal year which shall
set forth the following levels:
``(A) totals of new budget authority and outlays;
``(B) total Federal revenues and the amount, if any, by
which the aggregate level of Federal revenues should be
increased or decreased by bills and resolutions to be reported
by the appropriate committees;
``(C) the surplus or deficit in the budget;
``(D) subtotals of new budget authority and outlays for
nondefense discretionary spending, defense discretionary
spending, direct spending, and interest; and for fiscal years
to which the amendments made by title II of the Comprehensive
Budget Process Reform Act of 1999 apply, subtotals of new
budget authority and outlays for emergencies; and
``(E) the public debt.
Each budget submission shall include a budget message and summary and
supporting information and, as a separately delineated statement, the
levels required in the preceding sentence for at least each of the 9
ensuing fiscal years.''.
(2) The third sentence of section 1105(a) of title 31, United
States Code, is amended by inserting ``submission'' after ``budget''.
(f) Limitation on Contents of Budget Resolutions.--Section 305 of
the Congressional Budget Act of 1974 is amended by adding at the end
the following new subsection:
``(e) Limitation on Contents.--(1) It shall not be in order in the
House of Representatives or in the Senate to consider any joint
resolution on the budget or any amendment thereto or conference report
thereon that contains any matter referred to in paragraph (2).
``(2) Any joint resolution on the budget or any amendment thereto
or conference report thereon that contains any matter not permitted in
section 301(a) or (b) shall not be treated in the House of
Representatives or the Senate as a budget resolution under subsection
(a) or (b) or as a conference report on a budget resolution under
subsection (c) of this section.''.
SEC. 104. BUDGET REQUIRED BEFORE SPENDING BILLS MAY BE CONSIDERED;
FALL-BACK PROCEDURES IF PRESIDENT VETOES JOINT BUDGET
RESOLUTION.
(a) Amendments to Section 302.--Section 302(a) of the Congressional
Budget Act of 1974 is amended by striking paragraph (5).
(b) Amendments to Section 303 and Conforming Amendments.--(1)
Section 303 of the Congressional Budget Act of 1974 is amended--
(A) in subsection (b), by striking paragraph (2), by
inserting ``or'' at the end of paragraph (1), and by
redesignating paragraph (3) as paragraph (2); and
(B) by striking its section heading and inserting the
following new section heading: ``consideration of budget-
related legislation before budget becomes law''.
(2) Section 302(g)(1) of the Congressional Budget Act of 1974 is
amended by striking ``and, after April 15, section 303(a)''.
(3)(A) Section 904(c)(1) of the Congressional Budget Act of 1974 is
amended by inserting ``303(a),'' before ``305(b)(2),''.
(B) Section 904(d)(2) of the Congressional Budget Act of 1974 is
amended by inserting ``303(a),'' before ``305(b)(2),''.
(c) Expedited Procedures Upon Veto of Joint Resolution on the
Budget.--(1) Title III of the Congressional Budget Act of 1974 is
amended by adding after section 315 the following new section:
``expedited procedures upon veto of joint resolution on the budget
``Sec. 316. (a) Special Rule.--If the President vetoes a joint
resolution on the budget for a fiscal year, the majority leader of the
House of Representatives or Senate (or his designee) may introduce a
concurrent resolution on the budget or joint resolution on the budget
for such fiscal year. If the Committee on the Budget of either House
fails to report such concurrent or joint resolution referred to it
within five calendar days (excluding Saturdays, Sundays, or legal
holidays except when that House of Congress is in session) after the
date of such referral, the committee shall be automatically discharged
from further consideration of such resolution and such resolution shall
be placed on the appropriate calendar.
``(b) Procedure in the House of Representatives and the Senate.--
``(1) Except as provided in paragraph (2), the provisions
of section 305 for the consideration in the House of
Representatives and in the Senate of joint resolutions on the
budget and conference reports thereon shall also apply to the
consideration of concurrent resolutions on the budget
introduced under subsection (a) and conference reports thereon.
``(2) Debate in the Senate on any concurrent resolution on
the budget or joint resolution on the budget introduced under
subsection (a), and all amendments thereto and debatable
motions and appeals in connection therewith, shall be limited
to not more than 10 hours and in the House such debate shall be
limited to not more than 3 hours.
``(c) Contents of Concurrent Resolutions.--Any concurrent
resolution on the budget introduced under subsection (a) shall be in
compliance with section 301.
``(d) Effect of Concurrent Resolution on the Budget.--
Notwithstanding any other provision of this title, whenever a
concurrent resolution on the budget described in subsection (a) is
agreed to, then the aggregates, allocations, and reconciliation
directives (if any) contained in the report accompanying such
concurrent resolution or in such concurrent resolution shall be
considered to be the aggregates, allocations, and reconciliation
directives for all purposes of sections 302, 303, and 311 for the
applicable fiscal years and such concurrent resolution shall be deemed
to be a joint resolution for all purposes of this title and the Rules
of the House of Representatives and any reference to the date of
enactment of a joint resolution on the budget shall be deemed to be a
reference to the date agreed to when applied to such concurrent
resolution.''.
(2) The table of contents set forth in section 1(b) of the
Congressional Budget and Impoundment Control Act of 1974 is amended by
inserting after the item relating to section 315 the following new
item:
``Sec. 316. Expedited procedures upon veto of joint resolution on the
budget.''.
SEC. 105. CONFORMING AMENDMENTS TO EFFECTUATE JOINT RESOLUTIONS ON THE
BUDGET.
(a) Conforming Amendments to the Congressional Budget and
Impoundment Control Act of 1974.--(1)(A) Sections 301, 302, 303, 305,
308, 310, 311, 312, 314, 405, and 904 of the Congressional Budget Act
of 1974 (2 U.S.C. 621 et seq.) are amended by striking ``concurrent''
each place it appears and by inserting ``joint''.
(B)(i) Sections 302(d), 302(g), 308(a)(1)(A), and 310(d)(1) of the
Congressional Budget Act of 1974 are amended by striking ``most
recently agreed to concurrent resolution on the budget'' each place it
occurs and inserting ``most recently enacted joint resolution on the
budget or agreed to concurrent resolution on the budget (as
applicable)''.
(ii) The section heading of section 301 is amended by striking
``adoption of concurrent resolution'' and inserting ``joint
resolutions'';
(iii) Section 304 of such Act is amended to read as follows:
``permissible revisions of budget resolutions
``Sec. 304. At any time after the joint resolution on the budget
for a fiscal year has been enacted pursuant to section 301, and before
the end of such fiscal year, the two Houses and the President may enact
a joint resolution on the budget which revises or reaffirms the joint
resolution on the budget for such fiscal year most recently enacted. If
a concurrent resolution on the budget has been agreed to pursuant to
section 316, then before the end of such fiscal year, the two Houses
may adopt a concurrent resolution on the budget which revises or
reaffirms the concurrent resolution on the budget for such fiscal year
most recently agreed to.''.
(C) Sections 302, 303, 310, and 311, of such Act are amended by
striking ``agreed to'' each place it appears and by inserting
``enacted''.
(2)(A) Paragraph (4) of section 3 of the Congressional Budget and
Impoundment Control Act of 1974 is amended by striking ``concurrent''
each place it appears and by inserting ``joint''.
(B) The table of contents set forth in section 1(b) of such Act is
amended--
(i) in the item relating to section 301, by striking
``adoption of concurrent resolution'' and inserting ``joint
resolutions'';
(ii) by striking the item relating to section 303 and
inserting the following:
``Sec. 303. Consideration of budget-related legislation before budget
becomes law.'';
(iii) in the item relating to section 304, by striking
``concurrent'' and inserting ``budget'' the first place it
appears and by striking ``on the budget''; and
(iv) by striking ``concurrent'' and inserting ``joint'' in
the item relating to section 305.
(b) Conforming Amendments to the Rules of the House of
Representatives.--(1) Clauses 1(e)(1), 4(a)(4), 4(b)(2), 4(f)(1)(A),
and 4(f)(2) of rule X, clause 10 of rule XVIII, and clause 10 of rule
XX of the Rules of the House of Representatives are amended by striking
``concurrent'' each place it appears and inserting ``joint''.
(2) Clause 10 of rule XVIII of the Rules of the House of
Representatives is amended--
(A) in paragraph (b)(2), by striking ``(5)'' and inserting
``(6)''; and
(B) by striking paragraph (c).
(c) Conforming Amendments to the Balanced Budget and Emergency
Deficit Control Act of 1985.--Section 258C(b)(1) of the Balanced Budget
and Emergency Deficit Control Act of 1985 (2 U.S.C. 907d(b)(1)) is
amended by striking ``concurrent'' and inserting ``joint''.
(d) Conforming Amendments to Section 310 Regarding Reconciliation
Directives.--(1) The side heading of section 310(a) of the
Congressional Budget Act of 1974 (as amended by section 105(a)) is
further amended by inserting ``Joint Explanatory Statement Accompanying
Conference Report on'' before ``Joint''.
(2) Section 310(a) of such Act is amended by striking ``A'' and
inserting ``The joint explanatory statement accompanying the conference
report on a''.
(3) The first sentence of section 310(b) of such Act is amended by
striking ``If'' and inserting ``If the joint explanatory statement
accompanying the conference report on''.
(4) Section 310(c)(1) of such Act is amended by inserting ``the
joint explanatory statement accompanying the conference report on''
after ``pursuant to''.
(5) Subsection (g) of section 310 of such Act is repealed.
(e) Conforming Amendments to Section 3 Regarding Direct Spending.--
Section 3 of the Congressional Budget and Impoundment Control Act of
1974 is amended by adding at the end the following new paragraph:
``(11) The term `direct spending' has the meaning given to
such term in section 250(c)(8) of the Balanced Budget and
Emergency Deficit Control Act of 1985.''.
(f) Technical Amendment Regarding Revised Suballocations.--Section
314(d) of the Congressional Budget Act of 1974 is amended by--
(1) striking ``Reporting'' in the side heading, by
inserting ``the chairmen of'' before ``the Committees'', and by
striking ``may report'' and inserting ``shall make and have
published in the Congressional Record''; and
(2) adding at the end the following new sentence: ``For
purposes of considering amendments (other than for amounts for
emergencies covered by subsection (b)(1)), suballocations shall
be deemed to be so adjusted.''.
TITLE II--RESERVE FUND FOR EMERGENCIES
SEC. 201. PURPOSE.
The purposes of this title are to--
(1) develop budgetary and fiscal procedures for
emergencies;
(2) subject spending for emergencies to budgetary
procedures and controls; and
(3) establish criteria for determining compliance with
emergency requirements.
SEC. 202. REPEAL OF ADJUSTMENTS FOR EMERGENCIES.
(a) Discretionary Spending Limits.--(1) Section 251(b)(2)(A) of the
Balanced Budget and Emergency Deficit Control Act of 1985 is repealed.
(2) Such section 251(b)(2) is further amended by redesignating
subparagraphs (B) through (G) as subparagraphs (A) through (F).
(b) Direct Spending.--Sections 252(e) and 252(d)(4)(B) of the
Balanced Budget and Emergency Deficit Control Act of 1985 are repealed.
(c) Emergency Designation.--Clause 2 of rule XXI of the Rules of
the House of Representatives is amended by repealing paragraph (e) and
by redesignating paragraph (f) as paragraph (e).
(d) Amount of Adjustments.--Section 314(b) of the Congressional
Budget Act of 1974 is amended by striking paragraph (1) and by
redesignating paragraphs (2) through (6) as paragraphs (1) through (5),
respectively.
SEC. 203. OMB EMERGENCY CRITERIA.
Section 3 of the Congressional Budget and Impoundment Control Act
of 1974 (as amended by section 105(e)) is further amended by adding at
the end the following new paragraph:
``(12)(A) The term `emergency' means a situation that--
``(i) requires new budget authority and outlays (or
new budget authority and the outlays flowing therefrom)
for the prevention or mitigation of, or response to,
loss of life or property, or a threat to national
security; and
``(ii) is unanticipated.
``(B) As used in subparagraph (A), the term `unanticipated'
means that the situation is--
``(i) sudden, which means quickly coming into being
or not building up over time;
``(ii) urgent, which means a pressing and
compelling need requiring immediate action;
``(iii) unforeseen, which means not predicted or
anticipated as an emerging need; and
``(iv) temporary, which means not of a permanent
duration.''.
SEC. 204. DEVELOPMENT OF GUIDELINES FOR APPLICATION OF EMERGENCY
DEFINITION.
Not later than 5 months after the date of enactment of this Act,
the chairmen of the Committees on the Budget (in consultation with the
President) shall, after consulting with the chairmen of the Committees
on Appropriations and applicable authorizing committees of their
respective Houses and the Directors of the Congressional Budget Office
and the Office of Management and Budget, jointly publish in the
Congressional Record guidelines for application of the definition of
emergency set forth in section 3(12) of the Congressional Budget and
Impoundment Control Act of 1974.
SEC. 205. RESERVE FUND FOR EMERGENCIES IN PRESIDENT'S BUDGET.
Section 1105(f) of title 31, United States Code is amended by
adding at the end the following new sentences: ``Such budget submission
shall also comply with the requirements of section 317(b) of the
Congressional Budget Act of 1974 and, in the case of any budget
authority requested for an emergency, such submission shall include a
detailed justification of why such emergency is an emergency within the
meaning of section 3(12) of the Congressional Budget Act of 1974.''.
SEC. 206. ADJUSTMENTS AND RESERVE FUND FOR EMERGENCIES IN JOINT BUDGET
RESOLUTIONS.
(a) Emergencies.--Title III of the Congressional Budget Act of 1974
(as amended by section 104(c)) is further amended by adding at the end
the following new section:
``emergencies
``Sec. 317. (a) Adjustments.--
``(1) In general.--After the reporting of a bill or joint
resolution or the submission of a conference report thereon
that provides budget authority for any emergency as identified
pursuant to subsection (c), the Committee on the Budget of the
House of Representatives or the Senate shall--
``(A) determine and certify, pursuant to the
guidelines referred to in section 204 of the
Comprehensive Budget Process Reform Act of 1999, the
portion (if any) of the amount so specified that is for
an emergency within the meaning of section 3(12); and
``(B) make the adjustment set forth in paragraph
(2) for the amount of new budget authority (or outlays)
in that measure and the outlays flowing from that
budget authority.
``(2) Matters to be adjusted.--The adjustments referred to
in paragraph (1) are to be made to the allocations made
pursuant to the appropriate joint resolution on the budget (or
concurrent resolution on the budget, as the case may be)
pursuant to section 302(a) and shall be in an amount not to
exceed the amount reserved for emergencies pursuant to the
requirements of subsection (b).
``(b) Reserve Fund for Emergencies.--
``(1) Amounts.--The amount set forth in the reserve fund
for emergencies for budget authority and outlays for a fiscal
year pursuant to section 301(a)(4) shall equal--
``(A) the average of the enacted levels of budget
authority for emergencies in the 5 fiscal years
preceding the current year; and
``(B) the average of the levels of outlays for
emergencies in the 5 fiscal years preceding the current
year flowing from the budget authority referred to in
subparagraph (A), but only in the fiscal year for which
such budget authority first becomes available for
obligation.
``(2) Average levels.--For purposes of paragraph (1), the
amount used for a fiscal year to calculate the average of the
enacted levels when one or more of such 5 preceding fiscal
years is any of fiscal years 1994 through 1998 is as follows:
the amount of enacted levels of budget authority and the amount
of new outlays flowing therefrom for emergencies, but only in
the fiscal year for which such budget authority first becomes
available for obligation for each of such 5 fiscal years, which
shall be determined by the Committees on the Budget of the
House of Representatives and the Senate after receipt of a
report on such matter transmitted to such committees by the Director of
the Congressional Budget Office 6 months after the date of enactment of
this section and thereafter in February of each calendar year.
``(c) Committee Notification of Emergency Legislation.--Whenever
any committee of either House (including a committee of conference)
reports any bill or joint resolution that provides budget authority for
any emergency, the report accompanying that bill or joint resolution
(or the joint explanatory statement of managers in the case of a
conference report on any such bill or joint resolution) shall identify
all provisions that provide budget authority and the outlays flowing
therefrom for such emergency and include a statement of the reasons why
such budget authority meets the definition of an emergency pursuant to
the guidelines referred to in section 204 of the Comprehensive Budget
Process Reform Act of 1999.''.
(b) Conforming Amendment.--The table of contents set forth in
section 1(b) of the Congressional Budget and Impoundment Control Act of
1974 is amended by inserting after the item relating to section 316 the
following new item:
``Sec. 317. Emergencies.''.
SEC. 207. UP-TO-DATE TABULATIONS.
Section 308(b)(2) of the Congressional Budget Act of 1974 is
amended by striking ``and'' at the end of subparagraph (B), by striking
the period at the end of subparagraph (C) and inserting ``; and'', and
by adding at the end the following new subparagraph:
``(D) shall include an up-to-date tabulation of
amounts remaining in the reserve fund for
emergencies.''.
SEC. 208. PROHIBITION ON AMENDMENTS TO EMERGENCY RESERVE FUND.
(a) Point of Order.--Section 305 of the Congressional Budget Act of
1974 (as amended by section 103(c)) is further amended by adding at the
end the following new subsection:
``(f) Point of Order Regarding Emergency Reserve Fund.--It shall
not be in order in the House of Representatives or in the Senate to
consider an amendment to a joint resolution on the budget (or
concurrent resolution on the budget, as the case may be) which changes
the amount of budget authority and outlays set forth in section
301(a)(4) for emergency reserve fund.''.
(b) Technical Amendment.--(1) Section 904(c)(1) of the
Congressional Budget Act of 1974 is amended by inserting ``305(e),
305(f),'' after ``305(c)(4),''.
(2) Section 904(d)(2) of the Congressional Budget Act of 1974 is
amended by inserting ``305(e), 305(f),'' after ``305(c)(4),''.
SEC. 209. EFFECTIVE DATE.
The amendments made by this title shall apply to fiscal year 2001
and subsequent fiscal years, but such amendments shall take effect only
after the enactment of legislation changing or extending for any fiscal
year the budgetary procedures set forth in sections 251 and 252 of the
Balanced Budget and Emergency Deficit Control Act of 1985.
TITLE III--ENFORCEMENT OF BUDGETARY DECISIONS
SEC. 301. PURPOSES.
The purposes of this title are to--
(1) close loopholes in the enforcement of budget
resolutions;
(2) require committees of the House of Representatives to
include budget compliance statements in reports accompanying
all legislation;
(3) require committees of the House of Representatives to
justify the need for waivers of the Congressional Budget Act of
1974; and
(4) provide cost estimates of conference reports.
Subtitle A--Application of Points of Order to Unreported Legislation
SEC. 311. APPLICATION OF BUDGET ACT POINTS OF ORDER TO UNREPORTED
LEGISLATION.
(a) Section 315 of the Congressional Budget Act of 1974 is amended
by striking ``reported'' the first place it appears.
(b) Section 303(b) of the Congressional Budget Act of 1974 (as
amended by section 104(b)(1)) is further amended--
(1) in paragraph (1), by striking ``(A)'' and by
redesignating subparagraph (B) as paragraph (2) and by striking
the semicolon at the end of such new paragraph (2) and
inserting a period; and
(2) by striking paragraph (2) (as redesignated by such
section 104(b)(1)).
Subtitle B--Compliance with Budget Resolution
SEC. 321. BUDGET COMPLIANCE STATEMENTS.
Clause 3(d) of rule XIII of the Rules of the House of
Representatives is amended by adding at the end the following new
subparagraph:
``(4) A budget compliance statement prepared by the
chairman of the Committee on the Budget, if timely submitted
prior to the filing of the report, which shall include
assessment by such chairman as to whether the bill or joint
resolution complies with the requirements of sections 302, 303,
306, 311, and 401 of the Congressional Budget Act of 1974 and
may include the budgetary implications of that bill or joint
resolution under section 251 or 252 of the Balanced Budget and
Emergency Deficit Control Act of 1985, as applicable.''.
Subtitle C--Justification for Budget Act Waivers
SEC. 331. JUSTIFICATION FOR BUDGET ACT WAIVERS IN THE HOUSE OF
REPRESENTATIVES.
Clause 6 of rule XIII of the Rules of the House of Representatives
is amended by adding at the end the following new paragraph:
``(h) It shall not be in order to consider any resolution from the
Committee on Rules for the consideration of any reported bill or joint
resolution which waives section 302, 303, 311, or 401 of the
Congressional Budget Act of 1974, unless the report accompanying such
resolution includes a description of the provision proposed to be
waived, an identification of the section being waived, the reasons why
such waiver should be granted, and an estimated cost of the provisions
to which the waiver applies.''.
Subtitle D--CBO Scoring of Conference Reports
SEC. 341. CBO SCORING OF CONFERENCE REPORTS.
(a) The first sentence of section 402 of the Congressional Budget
Act of 1974 is amended as follows:
(1) Insert ``or conference report thereon,'' before ``and
submit''.
(2) In paragraph (1), strike ``bill or resolution'' and
insert ``bill, joint resolution, or conference report''.
(3) At the end of paragraph (2) strike ``and'', at the end
of paragraph (3) strike the period and insert ``; and'', and
after such paragraph (3) add the following new paragraph:
``(4) A determination of whether such bill, joint
resolution, or conference report provides direct spending.''.
(b) The second sentence of section 402 of the Congressional Budget
Act of 1974 is amended by inserting before the period the following:
``, or in the case of a conference report, shall be included in the
joint explanatory statement of managers accompanying such conference
report if timely submitted before such report is filed''.
TITLE IV--ACCOUNTABILITY FOR FEDERAL SPENDING
SEC. 401. PURPOSES.
The purposes of this title are to--
(1) require committees to develop a schedule for
reauthorizing all programs within their jurisdictions;
(2) facilitate amendments to subject new entitlement
programs to annual discretionary appropriations;
(3) require the Committee on the Budget to justify any
allocation to an authorizing committee for legislation that
would not be subject to annual discretionary appropriation;
(4) provide estimates of the long-term impact of spending
and tax legislation;
(5) provide a point of order for legislation creating a new
direct spending program that does not expire within 10 years;
and
(6) require a vote in the House of Representatives on any
measure that increases the statutory limit on the public debt.
Subtitle A--Limitations on Direct Spending
SEC. 411. FIXED-YEAR AUTHORIZATIONS REQUIRED FOR NEW PROGRAMS.
(a) In General.--Section 401 of the Congressional Budget Act of
1974 is amended--
(1) by striking subsections (a) and (b) and inserting the
following new subsection:
``(a) Limitation on Direct Spending.--It shall not be in order in
the House of Representatives or in the Senate to consider a bill or
joint resolution, or an amendment, motion, or conference report that
provides direct spending for a new program, unless such spending is
limited to a period of 10 or fewer fiscal years.'';
(2) by redesignating subsection (c) as subsection (b) and
by striking ``Subsections (a) and (b) each place it appears and
inserting ``Subsection (a)'' in such redesignated subsection
(b); and
(3) by amending the section heading to read as follows:
``fixed-year authorizations required for direct spending''.
(b) Conforming Amendment.--The item relating to section 401 in the
table of contents set forth in section 1(b) of the Congressional Budget
and Impoundment Control Act of 1974 is amended to read as follows:
``Sec. 401. Fixed-year authorizations required for direct spending.''.
(c) Limitation on Authorization of Discretionary Appropriations.--
Rule XXI of the Rules of the House of Representatives is amended by
adding at the end the following new clause:
``6. It shall not be in order to consider any bill, joint
resolution, amendment, or conference report that authorizes the
appropriation of new budget authority (as defined in section 3(2)(C) of
the Congressional Budget and Impoundment Control Act of 1974) for a new
program, unless such authorization is specifically provided for a
period of 10 or fewer fiscal years.''.
SEC. 412. AMENDMENTS TO SUBJECT NEW DIRECT SPENDING TO ANNUAL
APPROPRIATIONS.
(a) House Procedures.--Clause 5 of rule XVIII of the Rules of the
House of Representatives is amended by adding at the end the following
new paragraph:
``(c)(1) In the Committee of the Whole, an amendment only to
subject a new program which provides direct spending to discretionary
appropriations, if offered by the chairman of the Committee on the
Budget (or his designee) or the chairman of the Committee of
Appropriations (or his designee), may be precluded from consideration
only by the specific terms of a special order of the House. Any such
amendment, if offered, shall be debatable for twenty minutes equally
divided and controlled by the proponent of the amendment and a Member
opposed and shall not be subject to amendment.
``(2) As used in subparagraph (1), the term `direct spending' has
the meaning given such term in section 3(11) of the Congressional
Budget and Impoundment Control Act of 1974.''.
(b) Adjustment of Discretionary Spending Limits for Discretionary
Appropriations Offset by Direct Spending Savings.--
(1) Purpose.--The purpose of the amendments made by this
subsection is to hold the discretionary spending limits and the
allocations made to the Committee on Appropriations under
section 302(a) of the Congressional Budget Act of 1974 harmless
for legislation that offsets a new discretionary program with a
designated reduction in direct spending.
(2) Designating direct spending savings in authorization
legislation for new discretionary programs.--Section 252 of the
Balanced Budget and Emergency Deficit Control Act of 1985 (as
amended by section 202) is further amended by adding at the end
the following new subsection:
``(e) Offsets.--If a provision of direct spending legislation is
enacted that--
``(1) decreases direct spending for any fiscal year; and
``(2) is designated as an offset pursuant to this
subsection and such designation specifically identifies an
authorization of discretionary appropriations (contained in
such legislation) for a new program,
then the reductions in new budget authority and outlays in all fiscal
years resulting from that provision shall be designated as an offset in
the reports required under subsection (d).''.
(3) Exempting such designated direct spending savings from
paygo scorecard.--Section 252(d)(4) of the Balanced Budget and
Emergency Deficit Control Act of 1985 (as amended by section
202(b)) is further amended by adding at the end the following
new subparagraph:
``(B) offset provisions as designated under
subsection (e).''.
(4) Adjustment in discretionary spending limits.--Section
251(b)(2) of the Balanced Budget and Emergency Deficit Control
Act of 1985 (as amended by section 202(a)(2)) is further
amended by adding at the end the following new subparagraph:
``(G) Discretionary authorization offsets.--If an
Act other than an appropriation Act includes any
provision reducing direct spending and specifically
identifies any such provision as an offset pursuant to
section 252(e), the adjustments shall be an increase in
the discretionary spending limits for budget authority
and outlays in each fiscal year equal to the amount of
the budget authority and outlay reductions,
respectively, achieved by the specified offset in that
fiscal year, except that the adjustments for the budget
year in which the offsetting provision takes effect
shall not exceed the amount of discretionary new budget
authority provided for the new program (authorized in
that Act) in an Act making discretionary appropriations
and the outlays flowing therefrom.''.
(5) Adjustment in appropriation committee's allocations.--
Section 314(b) of the Congressional Budget Act of 1974 (as
amended by section 202(d)) is further amended by striking ``;
or'' at the end of paragraph (4), by striking the period and
inserting ``; or'' at the end of paragraph (5), and by adding
at the end the following new paragraph:
``(6) the amount provided in an Act making discretionary
appropriations for the program for which an offset was
designated pursuant to section 252(e) of the Balanced Budget
and Emergency Deficit Control Act of 1985 and any outlays
flowing therefrom, but not to exceed the amount of the
designated decrease in direct spending for that year for that
program in a prior law.''.
(6) Adjustment in authorizing committee's allocations.--
Section 314 of the Congressional Budget Act of 1974 is amended
by adding at the end the following new subsection:
``(f) Adjustment in Authorizing Committee's Allocations by Amount
of Direct Spending Offset.--After the reporting of a bill or joint
resolution (by a committee other than the Committee on Appropriations),
or the offering of an amendment thereto or the submission of a
conference report thereon, that contains a provision that decreases
direct spending for any fiscal year and that is designated as an offset
pursuant to section 252(e) of the Balanced Budget and Emergency Deficit
Control Act of 1985, the chairman of the Committee on the Budget shall
reduce the allocations of new budget authority and outlays made to such
committee under section 302(a)(1) by the amount so designated.''.
Subtitle B--Enhanced Congressional Oversight Responsibilities
SEC. 421. TEN-YEAR CONGRESSIONAL REVIEW REQUIREMENT OF PERMANENT BUDGET
AUTHORITY.
(a) Timetable for Review.--Clause 2(d)(1) of rule X of the Rules of
the House of Representatives is amended by striking subdivisions (B)
and (C) and inserting the following new subdivision:
``(B) provide in its plans a specific timetable for its
review of those laws, programs, or agencies within its
jurisdiction, including those that operate under permanent
budget authority or permanent statutory authority and such timetable
shall demonstrate that each law, program, or agency within the
committee's jurisdiction will be reauthorized at least once every ten
years.''.
(b) Review of Permanent Budget Authority by the Committee on
Appropriations.--Clause 4(a) of rule X of the Rules of the House of
Representatives is amended--
(1) by striking subparagraph (2); and
(2) by redesignating subparagraphs (3) and (4) as
subparagraphs (2) and (3) and by striking ``from time to time''
and inserting ``at least once each Congress'' in subparagraph
(2) (as redesignated).
(c) Conforming Amendment.--Clause 4(e)(2) of rule X of the Rules of
the House of Representatives is amended by striking ``from time to
time'' and inserting ``at least once every ten years''.
SEC. 422. JUSTIFICATIONS OF DIRECT SPENDING.
(a) Section 302 Allocations.--Section 302(a) of the Congressional
Budget Act of 1974 (as amended by section 104(a)) is further amended by
adding at the end the following new paragraph:
``(5) Justification of certain spending allocations.--The
joint explanatory statement accompanying a conference report on
a joint resolution on the budget that includes any allocation
to a committee (other than the Committee on Appropriations) of
levels in excess of current law levels shall set forth a
justification for not subjecting any program, project, or
activity (for which the allocation is made) to annual
discretionary appropriation.''.
(b) Presidents' Budget Submissions.--Section 1105(a) of title 31,
United States Code, is amended by adding at the end the following new
paragraph:
``(33) a justification for not subjecting each new program,
project, or activity to discretionary appropriations.''.
(c) Committee Justification for Direct Spending.--Clause 4(e)(2) of
rule X of the Rules of the House of Representatives is amended by
inserting before the period the following: ``, and will provide
specific information in any report accompanying such bills and joint
resolutions to the greatest extent practicable to justify why the
programs, projects, and activities involved would not be subject to
annual appropriation''.
SEC. 423. SURVEY OF ACTIVITY REPORTS OF HOUSE COMMITTEES.
Clause 1(d) of rule XI of the Rules of the House of Representatives
is amended by redesignating paragraph (4) as paragraph (5) and by
inserting after paragraph (3) the following new paragraph:
``(4) Such report shall include a summary of and justifications for
all bills and joint resolutions reported by such committee that--
``(A) were considered before the adoption of the
appropriate budget resolution and did not fall within an
exception set forth in section 303(b) of the Congressional
Budget Act of 1974;
``(B) exceeded its allocation under section 302(a) of such
Act or breached an aggregate level in violation of section 311
of such Act; or
``(C) contained provisions in violation of section 401(a)
of such Act pertaining to indefinite direct spending authority.
Such report shall also specify the total amount by which legislation
reported by that committee exceeded its allocation under section 302(a)
or breached the revenue floor under section 311(a) of such Act for each
fiscal year during that Congress.''.
SEC. 424. CONTINUING STUDY OF ADDITIONAL BUDGET PROCESS REFORMS.
Section 703 of the Congressional Budget Act of 1974 is amended as
follows:
(1) In subsection (a), strike ``and'' at the end of
paragraph (3), strike the period at the end of paragraph (4)
and insert ``; and'', and at the end add the following new
paragraph:
``(5) evaluating whether existing programs, projects, and
activities should be subject to discretionary appropriations
and establishing guidelines for subjecting new or expanded
programs, projects, and activities to annual appropriation and
recommend any necessary changes in statutory enforcement
mechanisms and scoring conventions to effectuate such
changes.''.
(2) In subsection (b), strike ``from time to time'' and
insert ``during the One Hundred Sixth Congress''.
SEC. 425. GAO REPORTS.
The last sentence of section 404 of the Congressional Budget Act
of 1974 is amended to read as follows: ``Such report shall be revised
at least once every five years and shall be transmitted to the chairman
and ranking minority member of each committee of the House of
Representatives and the Senate.''.
Subtitle C--Strengthened Accountability
SEC. 431. TEN-YEAR CBO ESTIMATES.
(a) CBO Reports on Legislation.--Section 308(a)(1)(B) of the
Congressional Budget Act of 1974 is amended by striking ``four'' and
inserting ``nine''.
(b) Analysis by CBO.--Section 402(1) of the Congressional Budget
Act of 1974 is amended by striking ``4'' and inserting ``nine''.
(c) Cost Estimates.--Clause 3(d)(2)(A) of rule XIII of the Rules of
the House of Representatives is amended by striking ``five'' each place
it appears and inserting ``10''.
SEC. 432. REPEAL OF RULE XXIII OF THE RULES OF THE HOUSE OF
REPRESENTATIVES.
Rule XXIII of the Rules of the House of Representatives (relating
to the establishment of the statutory limit on the public debt) is
repealed.
TITLE V--BUDGETING FOR UNFUNDED LIABILITIES AND OTHER LONG-TERM
OBLIGATIONS
SEC. 501. PURPOSES.
The purposes of this title are to--
(1) budget for the long-term costs of Federal insurance
programs;
(2) improve congressional control of those costs; and
(3) periodically report on long-term budgetary trends.
Subtitle A--Budgetary Treatment of Federal Insurance Programs
SEC. 511. FEDERAL INSURANCE PROGRAMS.
(a) In General.--The Congressional Budget Act of 1974 is amended by
adding after title V the following new title:
``TITLE VI--BUDGETARY TREATMENT OF FEDERAL INSURANCE PROGRAMS
``SEC. 601. SHORT TITLE.
``This title may be cited as the `Federal Insurance Budgeting Act
of 1999'.
``SEC. 602. BUDGETARY TREATMENT.
``(a) President's Budget.--Beginning with fiscal year 2006, the
budget of the Government pursuant to section 1105(a) of title 31,
United States Code, shall be based on the risk-assumed cost of Federal
insurance programs.
``(b) Budget Accounting.--For any Federal insurance program--
``(1) the program account shall--
``(A) pay the risk-assumed cost borne by the
taxpayer to the financing account, and
``(B) pay actual insurance program administrative
costs;
``(2) the financing account shall--
``(A) receive premiums and other income,
``(B) pay all claims for insurance and receive all
recoveries,
``(C) transfer to the program account on not less
than an annual basis amounts necessary to pay insurance
program administrative costs;
``(3) a negative risk-assumed cost shall be transferred
from the financing account to the program account, and shall be
transferred from the program account to the general fund; and
``(4) all payments by or receipts of the financing accounts
shall be treated in the budget as a means of financing.
``(c) Appropriations Required.--(1) Notwithstanding any other
provision of law, insurance commitments may be made for fiscal year
2006 and thereafter only to the extent that new budget authority to
cover their risk-assumed cost is provided in advance in an
appropriation Act.
``(2) An outstanding insurance commitment shall not be modified in
a manner that increases its risk-assumed cost unless budget authority
for the additional cost has been provided in advance.
``(3) Paragraph (1) shall not apply to Federal insurance programs
that constitute entitlements.
``(d) Reestimates.--The risk-assumed cost for a fiscal year shall
be reestimated in each subsequent year. Such reestimate can equal zero.
In the case of a positive reestimate, the amount of the reestimate
shall be paid from the program account to the financing account. In the
case of a negative reestimate, the amount of the reestimate shall be
paid from the financing account to the program account, and shall be
transferred from the program account to the general fund. Reestimates
shall be displayed as a distinct and separately identified subaccount
in the program account.
``(e) Administrative Expenses.--All funding for an agency's
administration of a Federal insurance program shall be displayed as a
distinct and separately identified subaccount in the program account.
``SEC. 603. TIMETABLE FOR IMPLEMENTATION OF ACCRUAL BUDGETING FOR
FEDERAL INSURANCE PROGRAMS.
``(a) Agency Requirements.--Agencies with responsibility for
Federal insurance programs shall develop models to estimate their risk-
assumed cost by year through the budget horizon and shall submit those
models, all relevant data, a justification for critical assumptions,
and the annual projected risk-assumed costs to OMB with their budget
requests each year starting with the request for fiscal year 2002.
Agencies will likewise provide OMB with annual estimates of
modifications, if any, and reestimates of program costs.
``(b) Disclosure.--When the President submits a budget of the
Government pursuant to section 1105(a) of title 31, United States Code,
for fiscal year 2002, OMB shall publish a notice in the Federal
Register advising interested persons of the availability of information
describing the models, data (including sources), and critical
assumptions (including explicit or implicit discount rate assumptions)
that it would use to estimate the risk-assumed cost of Federal
insurance programs and giving such interested persons an opportunity to
submit comments.
``(c) Revision.--(1) After consideration of comments pursuant to
subsection (b), and in consultation with the Committees on the Budget
of the House of Representatives and the Senate, OMB and CBO shall
revise the models, data, and major assumptions they would use to
estimate the risk-assumed cost of Federal insurance programs.
``(2) When the President submits a budget of the Government
pursuant to section 1105(a) of title 31, United States Code, for fiscal
year 2003, OMB shall publish a notice in the Federal Register advising
interested persons of the availability of information describing the
models, data (including sources), and critical assumptions (including
explicit or implicit discount rate assumptions) that it or other
executive branch entities used to estimate the risk-assumed cost of
Federal insurance programs.
``(d) Display.--
``(1) In general.--For fiscal years 2003, 2004, and 2005
the budget submissions of the President pursuant to section
1105(a) of title 31, United States Code, and CBO's reports on
the economic and budget outlook pursuant to section 202(e)(1)
and the President's budgets, shall for display purposes only,
estimate the risk-assumed cost of existing or proposed Federal
insurance programs.
``(2) OMB.--The display in the budget submissions of the
President for fiscal years 2003, 2004, and 2005 shall include--
``(A) a presentation for each Federal insurance
program in budget-account level detail of estimates of
risk-assumed cost;
``(B) a summary table of the risk-assumed costs of
Federal insurance programs; and
``(C) an alternate summary table of budget
functions and aggregates using risk-assumed rather than
cash-based cost estimates for Federal insurance
programs.
``(3) CBO.--In the second session of the 107th Congress and
the 108th Congress, CBO shall include in its estimates under
section 308, for display purposes only, the risk-assumed cost
of existing Federal insurance programs, or legislation that
CBO, in consultation with the Committees on the Budget of the
House of Representatives and the Senate, determines would
create a new Federal insurance program.
``(e) OMB, CBO, and GAO Evaluations.--(1) Not later than 6 months
after the budget submission of the President pursuant to section
1105(a) of title 31, United States Code, for fiscal year 2005, OMB,
CBO, and GAO shall each submit to the Committees on the Budget of the
House of Representatives and the Senate a report that evaluates the
advisability and appropriate implementation of this title.
``(2) Each report made pursuant to paragraph (1) shall address the
following:
``(A) The adequacy of risk-assumed estimation models used
and alternative modeling methods.
``(B) The availability and reliability of data or
information necessary to carry out this title.
``(C) The appropriateness of the explicit or implicit
discount rate used in the various risk-assumed estimation
models.
``(D) The advisability of specifying a statutory discount
rate (such as the Treasury rate) for use in risk-assumed
estimation models.
``(E) The ability of OMB, CBO, or GAO, as applicable, to
secure any data or information directly from any Federal agency
necessary to enable it to carry out this title.
``(F) The relationship between risk-assumed accrual
budgeting for Federal insurance programs and the specific
requirements of the Balanced Budget and Emergency Deficit
Control Act of 1985.
``(G) Whether Federal budgeting is improved by the
inclusion of risk-assumed cost estimates for Federal insurance
programs.
``(H) The advisability of including each of the programs
currently estimated on a risk-assumed cost basis in the Federal
budget on that basis.
``SEC. 604. DEFINITIONS.
``For purposes of this title:
``(1) The term `Federal insurance program' means a program
that makes insurance commitments and includes the list of such
programs included in the joint explanatory statement of
managers accompanying the conference report on the
Comprehensive Budget Process Reform Act of 1999.
``(2) The term `insurance commitment' means an agreement in
advance by a Federal agency to indemnify a nonfederal entity
against specified losses. This term does not include loan
guarantees as defined in title V or benefit programs such as
social security, medicare, and similar existing social
insurance programs.
``(3)(A) The term `risk-assumed cost' means the net present
value of the estimated cash flows to and from the Government
resulting from an insurance commitment or modification thereof.
``(B) The cash flows associated with an insurance
commitment include--
``(i) expected claims payments inherent in the
Government's commitment;
``(ii) net premiums (expected premium collections
received from or on behalf of the insured less expected
administrative expenses);
``(iii) expected recoveries; and
``(iv) expected changes in claims, premiums, or
recoveries resulting from the exercise by the insured
of any option included in the insurance commitment.
``(C) The cost of a modification is the difference between
the current estimate of the net present value of the remaining
cash flows under the terms of the insurance commitment, and the
current estimate of the net present value of the remaining cash
flows under the terms of the insurance commitment as modified.
``(D) The cost of a reestimate is the difference between
the net present value of the amount currently required by the
financing account to pay estimated claims and other
expenditures and the amount currently available in the
financing account. The cost of a reestimate shall be accounted
for in the current year in the budget of the Government
pursuant to section 1105(a) of title 31, United States Code.
``(E) For purposes of this definition, expected
administrative expenses shall be construed as the amount
estimated to be necessary for the proper administration of the
insurance program. This amount may differ from amounts actually
appropriated or otherwise made available for the administration
of the program.
``(4) The term `program account' means the budget account
for the risk-assumed cost, and for paying all costs of
administering the insurance program, and is the account from
which the risk-assumed cost is disbursed to the financing
account.
``(5) The term `financing account' means the nonbudget
account that is associated with each program account which
receives payments from or makes payments to the program
account, receives premiums and other payments from the public,
pays insurance claims, and holds balances.
``(6) The term `modification' means any Government action
that alters the risk-assumed cost of an existing insurance
commitment from the current estimate of cash flows. This
includes any action resulting from new legislation, or from the
exercise of administrative discretion under existing law, that
directly or indirectly alters the estimated cost of existing
insurance commitments.
``(7) The term `model' means any actuarial, financial,
econometric, probabilistic, or other methodology used to
estimate the expected frequency and magnitude of loss-producing
events, expected premiums or collections from or on behalf of
the insured, expected recoveries, and administrative expenses.
``(8) The term `current' has the same meaning as in section
250(c)(9) of the Balanced Budget and Emergency Deficit Control
Act of 1985.
``(9) The term `OMB' means the Director of the Office of
Management and Budget.
``(10) The term `CBO' means the Director of the
Congressional Budget Office.
``(11) The term `GAO' means the Comptroller General of the
United States.
``SEC. 605. AUTHORIZATIONS TO ENTER INTO CONTRACTS; ACTUARIAL COST
ACCOUNT.
``(a) Authorization of Appropriations.--There is authorized to be
appropriated $600,000 for each of fiscal years 2000 through 2005 to the
Director of the Office of Management and Budget and each agency
responsible for administering a Federal program to carry out this
title.
``(b) Treasury Transactions With the Financing Accounts.--The
Secretary of the Treasury shall borrow from, receive from, lend to, or
pay the insurance 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 supersede or override the authority of the head of a
Federal agency to administer and operate an insurance program. All the
transactions provided in this subsection shall be subject to the
provisions of subchapter II of chapter 15 of title 31, United States
Code. 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.
``(c) Appropriation of Amount Necessary To Cover Risk-Assumed Cost
of Insurance Commitments at Transition Date.--(1) A financing account
is established on September 30, 2005, for each Federal insurance
program.
``(2) There is appropriated to each financing account the amount of
the risk-assumed cost of Federal insurance commitments outstanding for
that program as of the close of September 30, 2005.
``(3) These financing accounts shall be used in implementing the
budget accounting required by this title.
``SEC. 606. EFFECTIVE DATE.
``(a) In General.--This title shall take effect immediately and
shall expire on September 30, 2007.
``(b) Special Rule.--If this title is not reauthorized by September
30, 2007, then the accounting structure and budgetary treatment of
Federal insurance programs shall revert to the accounting structure and
budgetary treatment in effect immediately before the date of enactment
of this title.''.
(b) Conforming Amendment.--The table of contents set forth in
section 1(b) of the Congressional Budget and Impoundment Control Act of
1974 is amended by inserting after the item relating to section 507 the
following new items:
``TITLE VI--BUDGETARY TREATMENT OF FEDERAL INSURANCE PROGRAMS
``Sec. 601. Short title.
``Sec. 602. Budgetary treatment.
``Sec. 603. Timetable for implementation of accrual budgeting for
Federal insurance programs.
``Sec. 604. Definitions.
``Sec. 605. Authorizations to enter into contracts; actuarial cost
account.
``Sec. 606. Effective date.''.
Subtitle B--Reports on Long-Term Budgetary Trends
SEC. 521. REPORTS ON LONG-TERM BUDGETARY TRENDS.
(a) The President's Budget.--Section 1105(a) of title 31, United
States Code (as amended by section 404), is further amended by adding
at the end the following new paragraph:
``(34) an analysis based upon current law and an analysis
based upon the policy assumptions underlying the budget
submission for every fifth year of the period of 75 fiscal
years beginning with such fiscal year, of the estimated levels
of total new budget authority and total budget outlays,
estimated revenues, estimated surpluses and deficits, and, for
social security, medicare, medicaid, and all other direct
spending, estimated levels of total new budget authority and
total budget outlays; and a specification of its underlying
assumptions and a sensitivity analysis of factors that have a
significant effect on the projections made in each analysis; and a
comparison of the effects of each of the two analyses on the economy,
including such factors as inflation, foreign investment, interest
rates, and economic growth.''.
(b) CBO Reports.--Section 202(e)(1) of the Congressional Budget Act
of 1974 is amended by adding at the end the following new sentences:
``Such report shall also include an analysis based upon current law for
every fifth year of the period of 75 fiscal years beginning with such
fiscal year, of the estimated levels of total new budget authority and
total budget outlays, estimated revenues, estimated surpluses and
deficits, and, for social security, medicare, medicaid, and all other
direct spending, estimated levels of total new budget authority and
total budget outlays. The report described in the preceding sentence
shall also specify its underlying assumptions and set forth a
sensitivity analysis of factors that have a significant effect on the
projections made in the report.''.
TITLE VI--BASELINES, BYRD RULE, AND LOCK-BOX
SEC. 601. PURPOSE.
The purposes of this title are to--
(1) require budgetary comparisons to prior year levels;
(2) restrict the application of the Byrd rule to measures
other than conference reports; and
(3) establish a procedure to allow savings from spending
cuts in appropriation measures to be locked-in to increase the
surplus or reduce the deficit.
Subtitle A--The Baseline
SEC. 611. THE PRESIDENT'S BUDGET.
(a) Paragraph (5) of section 1105(a) of title 31, United States
Code, is amended to read as follows:
``(5) except as provided in subsection (b) of this section,
estimated expenditures and appropriations for the current year
and estimated expenditures and proposed appropriations the
President decides are necessary to support the Government in
the fiscal year for which the budget is submitted and the 4
fiscal years following that year, and, except for detailed
budget estimates, the percentage change from the current year
to the fiscal year for which the budget is submitted for
estimated expenditures and for appropriations.''.
(b) Section 1105(a)(6) of title 31, United States Code, is amended
to read as follows:
``(6) estimated receipts of the Government in the current
year and the fiscal year for which the budget is submitted and
the 4 fiscal years after that year under--
``(A) laws in effect when the budget is submitted;
and
``(B) proposals in the budget to increase revenues,
and the percentage change (in the case of each category
referred to in subparagraphs (A) and (B)) between the current
year and the fiscal year for which the budget is submitted and
between the current year and each of the 9 fiscal years after
the fiscal year for which the budget is submitted.''.
(c) Section 1105(a)(12) of title 31, United States Code, is amended
to read as follows:
``(12) for each proposal in the budget for legislation that
would establish or expand a Government activity or function, a
table showing--
``(A) the amount proposed in the budget for
appropriation and for expenditure because of the
proposal in the fiscal year for which the budget is
submitted;
``(B) the estimated appropriation required because
of the proposal for each of the 4 fiscal years after
that year that the proposal will be in effect; and
``(C) the estimated amount for the same activity or
function, if any, in the current fiscal year,
and, except for detailed budget estimates, the percentage
change (in the case of each category referred to in
subparagraphs (A), (B), and (C)) between the current year and
the fiscal year for which the budget is submitted.''.
(d) Section 1105(a)(18) of title 31, United States Code, is amended
by inserting ``new budget authority and'' before ``budget outlays''.
(e) Section 1105(a) of title 31, United States Code, (as amended by
sections 412(b) and 521(a)) is further amended by adding at the end the
following new paragraphs:
``(35) a comparison of levels of estimated expenditures and
proposed appropriations for each function and subfunction in
the current fiscal year and the fiscal year for which the
budget is submitted, along with the proposed increase or
decrease of spending in percentage terms for each function and
subfunction.
``(36) a table on sources of growth in total direct
spending under current law and as proposed in this budget
submission for the budget year and the ensuing 9 fiscal years,
which shall include changes in outlays attributable to the
following: cost-of-living adjustments; changes in the number of
program recipients; increases in medical care prices, utilization and
intensity of medical care; and residual factors.''.
(f) Section 1109(a) of title 31, United States Code, is amended by
inserting after the first sentence the following new sentence: ``For
discretionary spending, these estimates shall assume the levels set
forth in the discretionary spending limits under section 251(c) of the
Balanced Budget and Emergency Deficit Control Act of 1985, as adjusted,
for the appropriate fiscal years (and if no such limits are in effect,
these estimates shall assume the adjusted levels for the most recent
fiscal year for which such levels were in effect).''.
SEC. 612. THE CONGRESSIONAL BUDGET.
Section 301(e) of the Congressional Budget Act of 1974 (as amended
by section 103) is further amended--
(1) in paragraph (1), by inserting at the end the
following: ``The basis of deliberations in developing such
joint resolution shall be the estimated budgetary levels for
the preceding fiscal year. Any budgetary levels pending before
the committee and the text of the joint resolution shall be
accompanied by a document comparing such levels or such text to
the estimated levels of the prior fiscal year. Any amendment
offered in the committee that changes a budgetary level and is
based upon a specific policy assumption for a program, project,
or activity shall be accompanied by a document indicating the
estimated amount for such program, project, or activity in the
current year.''; and
(2) in paragraph (2), by striking ``and'' at the end of
subparagraph (H) (as redesignated), by striking the period and
inserting ``; and'' at the end of subparagraph (I) (as
redesignated), and by adding at the end the following new
subparagraph:
``(J) a comparison of levels for the current fiscal
year with proposed spending and revenue levels for the
subsequent fiscal years along with the proposed
increase or decrease of spending in percentage terms
for each function.''.
SEC. 613. CONGRESSIONAL BUDGET OFFICE REPORTS TO COMMITTEES.
(a) The first sentence of section 202(e)(1) of the Congressional
Budget Act of 1974 is amended by inserting ``compared to comparable
levels for the current year'' before the comma at the end of
subparagraph (A) and before the comma at the end of subparagraph (B).
(b) Section 202(e)(1) of the Congressional Budget Act of 1974 is
amended by inserting after the first sentence the following new
sentence: ``Such report shall also include a table on sources of
spending growth in total direct spending for the budget year and the
ensuing 9 fiscal years, which shall include changes in outlays
attributable to the following: cost-of-living adjustments; changes in
the number of program recipients; increases in medical care prices,
utilization and intensity of medical care; and residual factors.''.
(c) Section 308(a)(1)(B) of the Congressional Budget Act of 1974 is
amended by inserting ``and shall include a comparison of those levels
to comparable levels for the current fiscal year'' before ``if timely
submitted''.
SEC. 614. OUTYEAR ASSUMPTIONS FOR DISCRETIONARY SPENDING.
For purposes of chapter 11 of title 31 of the United States Code,
or the Congressional Budget Act of 1974, unless otherwise expressly
provided, in making budgetary projections for years for which there are
no discretionary spending limits, the Director of the Office of
Management and Budget and the Director of the Congressional Budget
Office shall assume discretionary spending levels at the levels for the
last fiscal year for which such levels were in effect.
Subtitle B--The Byrd Rule
SEC. 621. LIMITATION ON BYRD RULE.
(a) Protection of Conference Reports.--Section 313 of the
Congressional Budget Act of 1974 is amended--
(1) in subsection (c), by striking ``and again upon the
submission of a conference report on such a reconciliation bill
or resolution,'';
(2) by striking subsection (d);
(3) by redesignating subsection (e) as subsection (d); and
(4) in subsection (e), as redesignated--
(A) by striking ``, motion, or conference report''
the first place it appears and inserting ``, or
motion''; and
(B) by striking ``, motion, or conference report''
the second and third places it appears and inserting
``or motion''.
(b) Conforming Amendment.--The first sentence of section 312(e) of
the Congressional Budget Act of 1974 is amended by inserting ``, except
for section 313,'' after ``Act''.
Subtitle C--Spending Accountability Lock-Box
SEC. 631. SHORT TITLE.
This subtitle may be cited as the ``Spending Accountability Lock-
Box Act of 1999''.
SEC. 632. SPENDING ACCOUNTABILITY LOCK-BOX LEDGER.
(a) Establishment of Ledger.--Title III of the Congressional Budget
Act of 1974 (as amended by sections 104(c) and 206(a)) is further
amended by adding after section 317 the following new section:
``spending accountability lock-box ledger
``Sec. 318. (a) Establishment of Ledger.--The chairman of the
Committee on the Budget of the House of Representatives and the
chairman on the Committee on the Budget of the Senate shall each
maintain a ledger to be known as the `Spending Accountability Lock-Box
Ledger'. The Ledger shall be divided into entries corresponding to the
subcommittees of the Committees on Appropriations. Each entry shall
consist of three components: the `House Lock-Box Balance'; the `Senate
Lock-Box Balance'; and the `Joint House-Senate Lock-Box Balance'.
``(b) Components of Ledger.--Each component in an entry shall
consist only of amounts credited to it under subsection (c). No entry
of a negative amount shall be made.
``(c) Credit of Amounts to Ledger.--(1) In the House of
Representatives or the Senate, whenever a Member offers an amendment to
an appropriation bill to reduce new budget authority in any account,
that Member may state the portion of such reduction that shall be--
``(A) credited to the House or Senate Lock-Box Balance, as
applicable; or
``(B) used to offset an increase in new budget authority in
any other account;
``(C) allowed to remain within the applicable section
302(b) suballocation.
If no such statement is made, the amount of reduction in new budget
authority resulting from the amendment shall be credited to the House
or Senate Lock-Box Balance, as applicable, if the amendment is agreed
to.
``(2)(A) Except as provided by subparagraph (B), the chairmen of
the Committees on the Budget shall, upon the engrossment of any
appropriation bill by the House of Representatives and upon the
engrossment of Senate amendments to that bill, credit to the applicable
entry balance of that House amounts of new budget authority and outlays
equal to the net amounts of reductions in new budget authority and in
outlays resulting from amendments agreed to by that House to that bill.
``(B) When computing the net amounts of reductions in new budget
authority and in outlays resulting from amendments agreed to by the
House of Representatives or the Senate to an appropriation bill, the
chairmen of the Committees on the Budget shall only count those
portions of such amendments agreed to that were so designated by the
Members offering such amendments as amounts to be credited to the House
or Senate Lock-Box Balance, as applicable, or that fall within the last
sentence of paragraph (1).
``(3) The chairmen of the Committees on the Budget shall, upon the
engrossment of Senate amendments to any appropriation bill, credit to
the applicable Joint House-Senate Lock-Box Balance the amounts of new
budget authority and outlays equal to--
``(A) an amount equal to one-half of the sum of (i) the
amount of new budget authority in the House Lock-Box Balance
plus (ii) the amount of new budget authority in the Senate
Lock-Box Balance for that subcommittee; and
``(B) an amount equal to one-half of the sum of (i) the
amount of outlays in the House Lock-Box Balance plus (ii) the
amount of outlays in the Senate Lock-Box Balance for that subcommittee.
``(4) Calculation of Lock-Box Savings in Senate.--For purposes of
calculating under this section the net amounts of reductions in new
budget authority and in outlays resulting from amendments agreed to by
the Senate on an appropriation bill, the amendments reported to the
Senate by its Committee on Appropriations shall be considered to be
part of the original text of the bill.
``(d) Definition.--As used in this section, the term `appropriation
bill' means any general or special appropriation bill, and any bill or
joint resolution making supplemental, deficiency, or continuing
appropriations through the end of a fiscal year.
``(e) Tally During House Consideration.--The chairman of the
Committee on the Budget of the House of Representatives shall maintain
a running tally of the amendments adopted reflecting increases and
decreases of budget authority in the bill as reported. This tally shall
be available to Members in the House of Representatives during
consideration of any appropriations bill by the House.''.
(b) Conforming Amendment.--The table of contents set forth in
section 1(b) of the Congressional Budget and Impoundment Control Act of
1974 is amended by inserting after the item relating to section 317 the
following new item:
``Sec. 318. Spending accountability lock-box ledger.''.
SEC. 633. DOWNWARD ADJUSTMENT OF SECTION 302(A) ALLOCATIONS AND SECTION
302(B) SUBALLOCATIONS.
(a) Allocations.--Section 302(a) of the Congressional Budget Act of
1974 (as amended by section 422) is further amended by adding at the
end the following new paragraph:
``(6) Adjustment of allocations.--Upon the engrossment of
Senate amendments to any appropriation bill (as defined in
section 318(d)) for a fiscal year, the amounts allocated under
paragraph (1) or (2) to the Committee on Appropriations of each
House upon the adoption of the most recent joint resolution on
the budget for that fiscal year shall be adjusted downward by
the amounts credited to the applicable Joint House-Senate Lock-
Box Balance under section 318(c)(2). The revised levels of new
budget authority and outlays shall be submitted to each House
by the chairman of the Committee on the Budget of that House
and shall be printed in the Congressional Record.''.
(b) Suballocations.--Section 302(b) of the Congressional Budget Act
of 1974 is amended by adding at the end the following new sentence:
``Whenever an adjustment is made under subsection (a)(7) to an
allocation under that subsection, the Committee on Appropriations of
each House shall make downward adjustments in the most recent
suballocations of new budget authority and outlays under this
subparagraph to the appropriate subcommittees of that committee in the
total amounts of those adjustments under section 318(c)(2). The revised
suballocations shall be submitted to each House by the chairman of the
Committee on Appropriations of that House and shall be printed in the
Congressional Record.''.
SEC. 634. PERIODIC REPORTING OF LEDGER STATEMENTS.
Section 308(b)(1) of the Congressional Budget Act of 1974 is
amended by adding at the end the following new sentence: ``Such reports
shall also include an up-to-date tabulation of the amounts contained in
the ledger and each entry established by section 318(a).''.
SEC. 635. DOWNWARD ADJUSTMENT OF DISCRETIONARY SPENDING LIMITS.
The discretionary spending limits for new budget authority and
outlays for any fiscal year set forth in section 251(c) of the Balanced
Budget and Emergency Deficit Control Act of 1985, shall be reduced by
the amounts set forth in the final regular appropriation bill for that
fiscal year or joint resolution making continuing appropriations
through the end of that fiscal year. Those amounts shall be the sums of
the Joint House-Senate Lock-Box Balances for that fiscal year, as
calculated under section 302(a)(6) of the Congressional Budget Act of
1974. That bill or joint resolution shall contain the following
statement of law: ``As required by section 636 of the Spending
Accountability Lock-Box Act of 1999, for fiscal year [insert
appropriate fiscal year] and each outyear, the adjusted discretionary
spending limit for new budget authority shall be reduced by $ [insert
appropriate amount of reduction] and the adjusted discretionary limit
for outlays shall be reduced by $ [insert appropriate amount of
reduction] for the fiscal year and each outyear.''. Notwithstanding
section 904(c) of the Congressional Budget Act of 1974, section 306 as
it applies to this statement shall not apply. This adjustment shall be
reflected in reports under sections 254(f) and 254(g) of the Balanced
Budget and Emergency Deficit Control Act of 1985.
Subtitle D--Automatic Continuing Resolution
SEC. 641. AUTOMATIC CONTINUING RESOLUTION.
(a) Amendment to Title 31.--Chapter 13 of title 31, United States
Code, is amended by inserting after section 1310 the following new
section:
``Sec. 1311. Continuing appropriations
``(a)(1) If any regular appropriation bill for a fiscal year does
not become law prior to the beginning of such fiscal year or a joint
resolution making continuing appropriations is not in effect, there is
appropriated, out of any moneys in the Treasury not otherwise
appropriated, and out of applicable corporate or other revenues,
receipts, and funds, such sums as may be necessary to continue any
program, project, or activity for which funds were provided in the
preceding fiscal year--
``(A) in the corresponding regular appropriation Act for
such preceding fiscal year; or
``(B) if the corresponding regular appropriation bill for
such preceding fiscal year did not become law, then in a joint
resolution making continuing appropriations for such preceding
fiscal year.
``(2)(A) Except as provided by subparagraph (B), appropriations and
funds made available, and authority granted, for a program, project, or
activity for any fiscal year pursuant to this section shall be at a
rate of operations not in excess of the rate of operations provided for
in the regular appropriation Act providing for such program, project,
or activity for the preceding fiscal year, or in the absence of such an
Act, the rate of operations provided for such program, project, or
activity pursuant to a joint resolution making continuing
appropriations for such preceding fiscal year (but not including
amounts for such program, project, or activity designated as an
emergency for that fiscal year before the date of enactment of this
section).
``(B) The applicable rate of operations for a program, project, or
activity pursuant to this section shall exclude amounts--
``(i) for which any adjustment was made under section
251(b)(2)(A) or section 252(e) of the Balanced Budget and
Emergency Deficit Control Act of 1985 before the date of
enactment of this section; or
``(ii) for which any adjustment is made under section
251(b)(2) (D) or (E) of such Act.
``(3) Appropriations and funds made available, and authority
granted, for any fiscal year pursuant to this section for a program,
project, or activity shall be available for the period beginning with
the first day of a lapse in appropriations and ending with the earlier
of--
``(A) the date on which the applicable regular
appropriation bill for such fiscal year becomes law (whether or
not such law provides for such program, project, or activity)
or a continuing resolution making appropriations becomes law,
as the case may be, or
``(B) the last day of such fiscal year.
``(b) An appropriation or funds made available, or authority
granted, for a program, project, or activity for any fiscal year
pursuant to this section shall be subject to the terms and conditions
imposed with respect to the appropriation made or funds made available
for the preceding fiscal year, or authority granted for such program,
project, or activity under current law.
``(c) Appropriations and funds made available, and authority
granted, for any program, project, or activity for any fiscal year
pursuant to this section shall cover all obligations or expenditures
incurred for such program, project, or activity during the portion of
such fiscal year for which this section applies to such program,
project, or activity.
``(d) Expenditures made for a program, project, or activity for any
fiscal year pursuant to this section shall be charged to the applicable
appropriation, fund, or authorization whenever a regular appropriation
bill or a joint resolution making continuing appropriations until the
end of a fiscal year providing for such program, project, or activity
for such period becomes law.
``(e) This section shall not apply to a program, project, or
activity during a fiscal year if any other provision of law (other than
an authorization of appropriations)--
``(1) makes an appropriation, makes funds available, or
grants authority for such program, project, or activity to
continue for such period, or
``(2) specifically provides that no appropriation shall be
made, no funds shall be made available, or no authority
shall be granted for such program, project, or activity to continue for
such period; or
``(f) For purposes of this section, the term `regular appropriation
bill' means any annual appropriation bill making appropriations,
otherwise making funds available, or granting authority, for any of the
following categories of programs, projects, and activities:
``(1) Agriculture, rural development, and related agencies
programs.
``(2) The Departments of Commerce, Justice, and State, the
judiciary, and related agencies.
``(3) The Department of Defense.
``(4) The government of the District of Columbia and other
activities chargeable in whole or in part against the revenues
of the District.
``(5) The Departments of Labor, Health and Human Services,
and Education, and related agencies.
``(6) The Department of Housing and Urban Development, and
sundry independent agencies, boards, commissions, corporations,
and offices.
``(7) Energy and water development.
``(8) Foreign assistance and related programs.
``(9) The Department of the Interior and related agencies.
``(10) Military construction.
``(11) The Department of Transportation and related
agencies.
``(12) The Treasury Department, the U.S. Postal Service,
the Executive Office of the President, and certain independent
agencies.
``(13) The legislative branch.''.
(b) Conforming Amendment.--Section 202(e)(3) of the Congressional
Budget Act of 1974 is amended by inserting ``and on or before September
30'' before ``of each year''.
(c) Chapter Analysis.--The analysis of chapter 13 of title 31,
United States Code, is amended by inserting after the item relating to
section 1310 the following new item:
``1311. Continuing appropriations.''.
(d) Effect of Amendments.--Nothing in the amendments made by this
section shall be construed to affect Government obligations mandated by
other law, including obligations with respect to social security,
medicare, and medicaid.
TITLE VII--BUDGETING IN AN ERA OF SURPLUSES
SEC. 701. PAYGO REQUIREMENTS AND THE ON-BUDGET SURPLUS.
(a) Section 252(a) of the Balanced Budget and Emergency Deficit
Control Act of 1985 is amended to read as follows:
``(a) Purpose.--The purpose of this section is to trigger an
offsetting sequestration in the amount by which any excess of decreases
in receipts and increases in direct spending over increases in receipts
and decreases in direct spending, caused by all direct spending and
receipts legislation enacted prior to October 1, 2002, exceeds
estimates of the on-budget surplus.''.
(b) Timing and Calculation of Sequestration.--Section 252(b) of the
Balanced Budget and Emergency Deficit Control Act of 1985 is amended to
read as follows:
``(b) Sequestration.--
``(1) Timing.--Not later than 15 calendar days after the
date Congress adjourns to end a session and on the same day as
a sequestration (if any) under section 251, there shall be a
sequestration to offset an amount equal to--
``(A) any excess of decreases in receipts and
increases in direct spending over increases in receipts
and decreases in direct spending for legislation
enacted prior to October 1, 2002; minus
``(B) the estimated on-budget surplus,
as calculated under paragraph (2).
``(2) Calculation of sequestration.--OMB shall calculate
the amount of the sequestration by adding--
``(A) all OMB estimates for the budget year of
direct spending and receipts legislation transmitted
under subsection (d) for legislation enacted prior to
October 1, 2002;
``(B) the estimated amount of savings in direct
spending programs applicable to the budget year
resulting from the prior year's sequestration under
this section, if any, as published in OMB's final
sequestration report for that prior year; and
``(C) all OMB estimates for the current year that
were not reflected in the final OMB sequestration
report for that year; and
then by subtracting from such sum the OMB estimate for the
budget year of the on-budget surplus (if any) as set forth in
the OMB sequestration update report.''.
(c) Preview Reports.--Section 254(c)(3) of the Balanced Budget and
Emergency Deficit Control Act of 1985 is amended by redesignating
subparagraph (C) as subparagraph (D) and by adding after subparagraph
(B) the following new subparagraph:
``(C) The estimated on-budget surplus for the
budget year (if any) shall exclude all estimates of
direct spending and receipts legislation for such year
enacted after the date of enactment of this
subparagraph (as estimated by OMB when such legislation
was originally enacted). Except as provided by the
preceding sentence, the following assumptions shall apply to the
calculation of such estimated surplus: Budgetary resources other than
unobligated balances shall be at the level provided for the budget year
in a regular appropriation Act or a joint resolution (other than
pursuant to section 1311 of title 31, United States Code) continuing
appropriations through the end of the budget year, but if for any
account a full-year appropriation has not yet been enacted, budgetary
resources other than unobligated balances shall be at the level
available in the current year, adjusted using the assumptions set forth
in section 257(c).''.
(d) Final Sequestration Report.--Section 254(f)(3) of the Balanced
Budget and Emergency Deficit Control Act of 1985 is amended by adding
at the end the following new sentence: ``In calculating the estimated
on-budget surplus pursuant to section 252(b)(2), notwithstanding
section 254(j), OMB shall use economic and technical assumptions that
are up-to-date as of the date of issuance of the sequestration preview
reports.''.
(e) Definition of On-Budget Surplus.--Section 250(c) of the
Balanced Budget and Emergency Deficit Control Act of 1985 is amended by
adding at the end the following new paragraph:
``(20) The term `on-budget surplus' means, with respect to
a fiscal year, the amount by which receipts exceed outlays for
all spending and receipt accounts of the United States
Government that are designated as on-budget. Such term does not
include outlays and receipts of the Federal Old-Age and
Survivors Insurance Trust Fund, the Federal Disability
Insurance Trust Fund, or any other off-budget entity.''.
(f) Expedited Reconciliation Process.--Section 258C of the Balanced
Budget and Emergency Deficit Control Act of 1985 is amended as follows:
(1) The side heading of subsection (a) is amended by
inserting ``or in the House of Representatives'' after
``Senate''.
(2) In paragraphs (1), (2), (3), and (4) of subsection (a),
insert ``or House'' after ``Senate'' each place it appears.
(3) In subsection (a)(7), strike ``For'' and insert ``In
the Senate, for''.
(4) In subsection (b)(1), insert ``or House'' after
``Senate''.
(5) In the side heading of subsection (b)(4), insert
``other'' after ``the''.
(6) In subsection (b)(4), strike ``in the Senate from the
House'' and insert ``in the Senate or House of Representatives
from the other House'', strike ``Senate'' the second place it
appears and insert ``Senate or House of Representatives, as the
case may be,'', and strike ``Senate'' the third place it
appears and insert ``in the applicable House''.
TITLE VIII--SOCIAL SECURITY SURPLUS PROTECTION ACT OF 1999
SEC. 801. SHORT TITLE.
This title may be cited as the ``Social Security Surplus Protection
Act of 1999''.
SEC. 802. SEQUESTER TO PROTECT THE SOCIAL SECURITY SURPLUS.
Section 251 of the Balanced Budget and Emergency Deficit Control
Act of 1985 (2 U.S.C. 901) is amended by adding at the end the
following:
``(d) Social Security Surplus Protection Sequester.--
``(1) In general.--Within 15 calendar days after Congress
adjourns to end a session and on the same day as a
sequestration (if any) under subsection (a), section 252, and
section 253, there shall be a sequestration to eliminate any
on-budget deficit (excluding any surplus in the Social Security
Trust Funds).
``(2) Eliminating deficit.--The sequester required by this
subsection shall be applied in accordance with the procedures
set forth in subsection (a). The on-budget deficit shall not be
subject to adjustment for any purpose.''.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S14413-14414)
Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged.
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