[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2896 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 2896

  To limit the issuance of public debt obligations after December 31, 
                                 2001.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 25, 1996

   Mr. Smith of Michigan (for himself and Mr. Shays) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To limit the issuance of public debt obligations after December 31, 
                                 2001.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Balanced Budget Act of 1995''.

SEC. 2. LIMITATION ON ISSUANCE OF PUBLIC DEBT OBLIGATIONS AFTER 
              DECEMBER 31, 2001.

    No obligation subject to the limitation under section 3101(b) of 
title 31, United States Code, may be issued to the public after 
December 31, 2001. The preceding sentence shall not apply to any 
obligation (or series of obligations) issued to refund an obligation 
issued before January 1, 2002.

SEC. 3. SPECIAL RULE.

    Upon the enactment of a joint resolution declaring a national 
emergency, section 1 is suspended for the 6-month period beginning upon 
such date of enactment. Congress and the President may, by law, extend 
such 6-month period if such declaration of war or national emergency is 
still in effect.
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