[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4397 Introduced in House (IH)]







106th CONGRESS
  2d Session
                                H. R. 4397

  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, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 9, 2000

 Mr. Nussle (for himself, Mr. Cardin, Mr. Goss, Mr. Minge, Mr. Kasich, 
Mr. Stenholm, and Mr. Dreier) introduced the following bill; which was 
    referred to the Committee on the Budget, and in addition to the 
 Committee on Rules, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 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, 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 2000''.
    (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 AND BYRD RULE

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.

SEC. 2. PURPOSE.

    The purposes of this Act are to--
            (1) give the budget the force of law;
            (2) budget for emergencies;
            (3) strengthen enforcement of budgetary decisions;
            (4) increase accountability for Federal spending;
            (5) display the unfunded liabilities of Federal insurance 
        programs; and
            (6) mitigate the bias in the budget process toward higher 
        spending.

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, 2001.

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 2000 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), and (6) through (9).
            (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;''; and
            (4) After paragraph (5), insert the following new 
        paragraph:
            ``(6) set forth procedures in the Senate whereby committee 
        allocations, aggregates, and other levels can be revised for 
        legislation if that legislation would not increase the deficit, 
        or would not increase the deficit when taken with other 
        legislation enacted after the adoption of the resolution, for 
        the first fiscal year or the total period of fiscal years 
        covered by the resolution.''.
    (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 2000 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) A joint resolution on the budget 
and the report accompanying it may not--
            ``(A) appropriate or otherwise provide, impound, or rescind 
        any new budget authority, increase any outlay, or increase or 
        decrease any revenue (other than through reconciliation 
        instructions);
            ``(B) directly (other than through reconciliation 
        instructions) establish or change any program, project, or 
        activity;
            ``(C) establish or change any limit or control over 
        spending, outlays, receipts, or the surplus or deficit except 
        those that are enforced through congressional rule making; or
            ``(D) amend any law except as provided by section 304 
        (permissible revisions of joint resolutions on the budget) or 
        enact any provision of law that contains any matter not 
        permitted in section 301(a) or (b).
    ``(2) No allocation under section 302(a) shall be construed as 
changing such discretionary spending limit.
    ``(3) 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 
not permitted in section 301(a) or (b).
    ``(4) 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 of title 31, United States Code is amended by adding 
at the end the following new subsections:
    ``(h) The budget transmitted pursuant to subsection (a) for a 
fiscal year shall include a reserve fund for emergencies. The amount 
set forth in such fund shall be calculated as provided under section 
317(b) of the Congressional Budget Act of 1974.
    ``(i) In the case of any budget authority requested for an 
emergency, such submission shall include a detailed justification of 
the reasons that such emergency is an emergency within the meaning of 
section 3(12) of the Congressional Budget Act of 1974, consistent with 
the guidelines described in section 204 of the Comprehensive Budget 
Process Reform Act of 2000.''.

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 (d)--
                    ``(A) the chairman (in consultation with the 
                ranking minority member) of the Committee on the Budget 
                of the House of Representatives or the Senate shall 
                determine and certify, pursuant to the guidelines 
                referred to in section 204 of the Comprehensive Budget 
                Process Reform Act of 2000, the portion (if any) of the 
                amount so specified that is for an emergency within the 
                meaning of section 3(12); and
                    ``(B) such chairman shall 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 
        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).
            ``(3) Permissible committee vote on adjustments.--Any 
        adjustment made by the chairman of the Committee on the Budget 
        of the House of Representatives or the Senate under paragraph 
        (1) may be placed before the committee for its consideration by 
        a majority vote of the members of the committee, a quorum being 
        present.
    ``(b) Reserve Fund for Emergencies.--
            ``(1) Amounts.--(A) The amount set forth in the reserve 
        fund for emergencies for budget authority for a fiscal year 
        pursuant to section 301(a)(4) shall equal the average of the 
        enacted levels of budget authority for emergencies in the 5 
        fiscal years preceding the current year.
            ``(B) The amount set forth in the reserve fund for 
        emergencies for outlays pursuant to section 301(a)(4) shall be 
        the following:
                    ``(i) For the budget year, the amount provided by 
                subparagraph (C)(i).
                    ``(ii) For the year following the budget year, the 
                sum of the amounts provided by subparagraphs (i) and 
                (ii).
                    ``(iii) For the second year following the budget 
                year, the sum of the amounts provided by subparagraphs 
                (i), (ii), and (iii).
                    ``(iv) For the third year following the budget 
                year, the sum of the amounts provided by subparagraphs 
                (i), (ii), (iii), and (iv).
                    ``(v) For the fourth year following the budget 
                year, the sum of the amounts provided by subparagraphs 
                (i), (ii), (iii), (iv), and (v).
            ``(C) The amount used to calculate the levels of the 
        reserve fund for emergencies for outlays shall be the--
                    ``(i) average outlays flowing from new budget 
                authority in the fiscal year that the budget authority 
                was provided;
                            ``(ii) average outlays flowing from new 
                        budget authority in the fiscal year following 
                        the fiscal year in which the budget authority 
                        was provided;
                            ``(iii) average outlays flowing from new 
                        budget authority in the second fiscal year 
                        following the fiscal year in which the budget 
                        authority was provided;
                            ``(iv) average outlays flowing from new 
                        budget authority in the third fiscal year 
                        following the fiscal year in which the budget 
                        authority was provided for budget authority 
                        provided; and
                            ``(v) average outlays flowing from new 
                        budget authority in the fourth fiscal year 
                        following the fiscal year in which the budget 
                        authority was provided;
                if such budget authority was provided within the period 
                of the 5 fiscal years preceding the current year.
            ``(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 1996 through 2000 shall be for 
        emergencies within the definition of section 3(12)(A) as 
        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) Emergencies in Excess of Amounts in Reserve Fund.--Whenever 
the Committee on Appropriations or any other committee reports any bill 
or joint resolution that provides budget authority for any emergency 
and the report accompanying that bill or joint resolution, pursuant to 
subsection (d), identifies any provision that increases outlays or 
provides budget authority (and the outlays flowing therefrom) for such 
emergency, the enactment of which would cause--
            ``(1) in the case of the Committee on Appropriations, the 
        total amount of budget authority or outlays provided for 
        emergencies for the budget year; or
            ``(2) in the case of any other committee, the total amount 
        of budget authority or outlays provided for emergencies for the 
        budget year or the total of the fiscal years;
in the joint resolution on the budget (pursuant to section 301(a)(4)) 
to be exceeded:
            ``(A) Such bill or joint resolution shall be referred to 
        the Committee on the Budget of the House or the Senate, as the 
        case may be, with instructions to report it without amendment, 
        other than that specified in subparagraph (B), within 5 
        legislative days of the day in which it is reported from the 
        originating committee. If the Committee on the Budget of either 
        House fails to report a bill or joint resolution referred to it 
        under this subparagraph within such 5-day period, the committee 
        shall be automatically discharged from further consideration of 
        such bill or joint resolution and such bill or joint resolution 
        shall be placed on the appropriate calendar.
            ``(B) An amendment to such a bill or joint resolution 
        referred to in this subsection shall only consist of an 
        exemption from section 251 or 252 (as applicable) of the 
        Balanced Budget and Emergency Deficit Control Act of 1985 of 
        all or any part of the provisions that provide budget authority 
        (and the outlays flowing therefrom) for such emergency if the 
        committee determines, pursuant to the guidelines referred to in 
        section 204 of the Comprehensive Budget Process Reform Act of 
        2000, that such budget authority is for an emergency within the 
        meaning of section 3(12).
            ``(C) If such a bill or joint resolution is reported with 
        an amendment specified in subparagraph (B) by the Committee on 
        the Budget of the House of Representatives or the Senate, then 
        the budget authority and resulting outlays that are the subject 
        of such amendment shall not be included in any determinations 
        under section 302(f) or 311(a) for any bill, joint resolution, 
        amendment, motion, or conference report.
    ``(d) Committee Notification of Emergency Legislation.--Whenever 
the Committee on Appropriations or any other 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 
2000.''.
    (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 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 2002 
and subsequent fiscal years, but such amendments shall take effect only 
after the enactment of legislation changing or extending for any fiscal 
year the discretionary spending limits set forth in section 251 of the 
Balanced Budget and Emergency Deficit Control Act of 1985 or 
legislation reducing the amount of any sequestration under section 252 
of such Act by the amount of any reserve for any emergencies.

             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 or 
        any other requirements set forth in a joint resolution on the 
        budget 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) provide an opportunity to offer 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.

    Section 401 of the Congressional Budget Act of 1974 is amended--
            (1) by striking subsection (b) and inserting the following 
        new subsections:
    ``(b) 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.
    ``(c) Limitation on Authorization of Discretionary 
Appropriations.--It shall not be in order in the House of 
Representatives or in the Senate to consider any bill, joint 
resolution, amendment, or conference report that authorizes the 
appropriation of new budget authority for a new program, unless such 
authorization is specifically provided for a period of 10 or fewer 
fiscal years.''; and
            (2) by redesignating subsection (c) as subsection (d) and 
        by striking ``(a) and (b)'' both places it appears in such 
        redesignated subsection (d) and inserting ``(a), (b), and 
        (c)''.

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, except that such term does 
not include direct spending described in section 401(d)(1) of such 
Act.''.
    (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 10 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 (such as an activity that is fully offset by 
        increases in dedicated receipts and that such increases would 
        trigger, under existing law, an adjustment in the appropriate 
        discretionary spending limit) 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 proposed new 
        direct spending program, project, or activity to discretionary 
        appropriations (such as an activity that is fully offset by 
        increases in dedicated receipts and that such increases would 
        trigger, under existing law, an adjustment in the appropriate 
        discretionary spending limit).''.
    (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 the reasons 
that the programs, projects, and activities involved would not be 
subject to annual appropriation (such as an activity that is fully 
offset by increases in dedicated receipts and that such increases would 
trigger, under existing law, an adjustment in the appropriate 
discretionary spending limit)''.

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 of 
        such Act.
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. 
        These guidelines are only for advisory purposes.''.
            (2) In subsection (b), strike ``from time to time'' and 
        insert ``during the One Hundred Seventh 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 2000'.

``SEC. 602. BUDGETARY TREATMENT.

    ``(a) President's Budget.--Beginning with fiscal year 2007, 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 
2007 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 2003. 
Agencies will likewise provide OMB with annual estimates of 
modifications, if any, and reestimates of program costs. Nothing in 
this subsection shall be construed to require an agency, which is 
subject to statutory requirements, to maintain a risk-based assessment 
system with a minimum level of reserves against loss and to assess 
insured entities for risk-based premiums, to provide models, critical 
assumptions, or other data that would, as determined by such agency, 
affect financial markets or the viability of insured entities.
    ``(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 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 would use to estimate the 
risk-assumed cost of Federal insurance programs and giving such persons 
an opportunity to submit comments. At the same time, the chairman of 
the Committee on the Budget shall publish a notice for CBO 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. Except as 
provided by the next sentence, this paragraph shall not apply to an 
agency that is subject to statutory requirements to maintain a risk-
based assessment system with a minimum level of reserves against loss 
and to assess insured entities for risk-based premiums. However, such 
agency shall consult with the aforementioned entities.
    ``(2) When the President submits a budget of the Government 
pursuant to section 1105(a) of title 31, United States Code, for fiscal 
year 2004, 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 2004, 2005, and 2006 
        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 2004, 2005, and 2006 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 108th Congress and the first session of 
        the 109th 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 2006, 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 2000.
            ``(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 2001 through 2006 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, 2006, 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, 2006.
    ``(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, 2008.
    ``(b) Special Rule.--If this title is not reauthorized by September 
30, 2008, 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 AND BYRD RULE

SEC. 601. PURPOSE.

The purposes of this title are to--
            (1) require budgetary comparisons to prior year levels; and
            (2) restrict the application of the Byrd rule to measures 
        other than conference reports.

                        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.
            ``(37) a comparison of the estimated level of obligation 
        limitations, budget authority, and outlays for highways subject 
        to the discretionary spending limits for highways (if any) set 
        forth in section 251(c) of the Balanced Budget and Emergency 
Deficit Control Act of 1985 for the fiscal year for which the budget is 
submitted and the corresponding levels for such year under current law 
as adjusted pursuant to section 251(b)(1)(D) of such Act.''.
    (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 a semicolon at the end of subparagraph (I) (as 
        redesignated), and by adding at the end the following new 
        subparagraphs:
                    ``(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; and
                    ``(K) a comparison of the proposed levels of new 
                budget authority and outlays for the highway category 
                (if any) (as defined in section 250(c)(4)(B) of the 
                Balanced Budget and Emergency Deficit Control Act of 
                1985) for the budget year with the corresponding levels 
                under current law as adjusted consistent with the 
                anticipated revenue alignment adjustments to be made 
                pursuant to section 251(b)(1)(D) of such Act.''.

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''.
                                 <all>