To amend section 1105 of title 31, United States Code, to require the President to include the estimated unfunded liabilities of all Federal programs in annual budget submissions.

Amends Federal law to require the President to include in the annual submission to Congress of a proposed Federal budget a separate statement setting forth the estimated unfunded liability of each program for specified fiscal years, including the next 20-fiscal-year and 75-fiscal-year periods.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4074 Introduced in House (IH)]






108th CONGRESS
  2d Session
                                H. R. 4074

 To amend section 1105 of title 31, United States Code, to require the 
President to include the estimated unfunded liabilities of all Federal 
                 programs in annual budget submissions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 30, 2004

 Mr. Smith of Michigan (for himself, Mrs. Musgrave, Mr. Jones of North 
  Carolina, Mr. Bartlett of Maryland, Mr. Toomey, Mr. Doolittle, Mr. 
 Hostettler, Mr. Pence, Mr. Chabot, Mr. Barrett of South Carolina, Mr. 
Flake, Mr. Garrett of New Jersey, Mr. Feeney, Mr. Culberson, Mr. Weldon 
of Florida, Mrs. Myrick, Mr. Istook, and Mr. Gutknecht) introduced the 
   following bill; which was referred to the Committee on the Budget

_______________________________________________________________________

                                 A BILL


 
 To amend section 1105 of title 31, United States Code, to require the 
President to include the estimated unfunded liabilities of all Federal 
                 programs in annual budget submissions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That section 1105(a) of 
title 31, United States Code, is amended by adding at the end the 
following new paragraph:
            ``(35) A separate statement setting forth the estimated 
        unfunded liability, if any, of each program--
                    ``(A) as of the close of the fiscal year for which 
                the budget is submitted (assuming enactment of the 
                estimated expenditures and proposed appropriations set 
                forth in the President's budget submission);
                    ``(B) as of the close of the prior fiscal year; and
                    ``(C) for the 20-fiscal-year period and for the 75-
                fiscal-year period beginning with the fiscal year for 
                which the budget is submitted (assuming enactment of 
                the estimated expenditures and proposed appropriations 
                set forth in the President's budget submission).''.
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