II 108th CONGRESS 2d Session S. 2802 IN THE SENATE OF THE UNITED STATES September 14, 2004 Mr. Dayton introduced the following bill; which was read twice and referred jointly pursuant to the order of August 4, 1977, to theCommittee on the Budget, and the Committee on Governmental Affairs,with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged A BILL To amend the Congressional Budget and Impoundment Control Act of 1974 to limit the implementation, phase-in, or phaseout of revenue measures to 1 year.

1.

Prohibition on the consideration of any long-term implementation, phase-in, or phaseout of any revenue measure

(a)

In general

Title III of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 631 et seq.) is amended by adding at the end the following:

316.

Prohibition on the consideration of any long-term implementation, phase-in, or phaseout of any revenue measure

(a)

In general

It shall not be in order in the House of Representatives or the Senate to consider any bill, joint resolution, amendment, motion, or conference report, that— (1)delays implementation of a revenue measure for more than 1 year after the date of the enactment of the measure, (2)phases in a revenue measure over a period of taxable years greater than 1 taxable year, or (3)provides for the repeal of, or a modification in the revenue effect of, a revenue measure if the elimination or modification does not fully take effect before the date which is 1 year after the date of the enactment of the elimination or modification. (b)

Revenue measure

The term revenue measure means any change in any rate of tax, deduction, exemption, credit, or exclusion, or any similar change to the Internal Revenue Code of 1986, that will result in a decrease or increase in revenues to the United States Treasury.

(b)

Supermajority point of order

Subsections (c)(1) and (d)(2) of section 904 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 621 note) are amended by inserting 316, after 313,. (c)

Conforming amendment

The table of contents for the Congressional Budget and Impoundment Control Act of 1974 is amended by inserting after the item relating to section 315 the following: Sec. 316. Prohibition on the consideration of any long-term implementation, phase-in, or phaseout of any revenue measure. . (d)

Effective date

The amendments made by this section take effect on January 1, 2005.