110 HR 2084 IH: Family Budget Protection Act of
U.S. House of Representatives
2007-05-01
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Short title; table of
contents
(a)This Act may be cited as the Family Budget Protection Act of
2007
.
(b)
Sec. 1. Short title; table of contents.
Sec. 2. Effective date.
Title I—A SIMPLE AND BINDING BUDGET
Subtitle A—Joint Budget Resolutions
Sec. 101. Declaration of purposes for the Budget
Act.
Sec. 102. The timetable.
Sec. 103. Annual joint resolutions on the budget.
Sec. 104. Budget required before spending bills may be
considered.
Sec. 105. Amendments to effectuate joint resolutions on the
budget.
Subtitle B—Budgeting for Emergencies
Sec. 111. Purpose.
Sec. 112. Repeal of adjustments for emergencies.
Sec. 113. OMB emergency criteria.
Sec. 114. Development of guidelines for application of
emergency definition.
Sec. 115. Reserve Fund for emergencies in President’s
budget.
Sec. 116. Adjustments and Reserve Fund for emergencies in joint
budget resolutions.
Sec. 117. Application of section
306 to emergencies in excess of amounts in
Reserve Fund.
Sec. 118. Up-to-date tabulations.
Sec. 119. Prohibition on amendments to emergency Reserve
Fund.
Subtitle C—Biennial Budget Option
Sec. 121. Effective date.
Sec. 122. Revision of timetable.
Sec. 123. Amendments to the Congressional Budget and
Impoundment Control Act of 1974.
Sec. 124. Amendments to rules of the House of
Representatives.
Sec. 125. Amendments to title
31, United States Code.
Sec. 126. Two-year appropriations; title and style of
appropriation Acts.
Sec. 127. Multiyear authorizations.
Sec. 128. Government strategic and performance plans on a
biennial basis.
Sec. 129. Biennial appropriation bills.
Sec. 130. Assistance by Federal agencies to standing committees
of the Senate and the House of Representatives.
Subtitle D—Prevention of Government Shutdown
Sec. 141. Amendment to title
31.
Subtitle E—The Baseline
Sec. 151. Elimination of inflation adjustment.
Sec. 152. The President’s budget.
Sec. 153. The Congressional budget.
Sec. 154. Congressional Budget Office reports to
committees.
Sec. 155. Treatment of emergencies.
Title II—PUTTING A LID ON THE FEDERAL BUDGET
Subtitle A—Spending Safeguards on the Growth of Entitlements
and Mandatories
Sec. 201. Spending caps on growth of entitlements and
mandatories.
Sec. 202. Exempt programs and activities.
Sec. 203. Exceptions, limitations, and special
rules.
Sec. 204. Point of order.
Sec. 205. Technical and conforming amendments.
Sec. 206. Establishment of budget protection mandatory
Account.
Subtitle B—Discretionary Spending Limits
Sec. 211. Enforcing discretionary spending limits.
Sec. 212. Establishment of budget protection discretionary
Account.
Sec. 213. Revenue adjustment.
Subtitle C—Long-Term Unfunded Obligations
Sec. 221. Long-term unfunded obligations.
Sec. 222. Points of order.
Sec. 223. Social Security.
Title III—COMBATING WASTE, FRAUD, AND ABUSE
Subtitle A—Sunsetting
Sec. 301. Reauthorization of discretionary programs and
unearned entitlements.
Sec. 302. Point of order.
Sec. 303. Decennial sunsetting.
Subtitle B—Legislative Line-Item Veto
Sec. 311. Legislative line-item veto.
Sec. 312. Technical and conforming amendments.
Sec. 313. Sense of Congress on abuse of proposed
cancellations.
Sec. 314. Amending House rules to require that rescission bills
always be considered under open rules.
Subtitle C—Commission to Eliminate Waste, Fraud, and
Abuse
Sec. 331. Establishment of Commission.
Sec. 332. Duties of the Commission.
Sec. 333. Powers of the Commission.
Sec. 334. Commission personnel matters.
Sec. 335. Termination of the Commission.
Sec. 336. Congressional consideration of reform
proposals.
Sec. 337. Authorization of appropriations.
Title IV—TRUTH IN ACCOUNTING
Subtitle A—Accrual Funding of Pensions and Retirement Pay for
Federal Employees and Uniformed Services Personnel
Sec. 401. Civil Service Retirement System.
Sec. 402. Central Intelligence Agency Retirement and Disability
System.
Sec. 403. Foreign Service Retirement and Disability
System.
Sec. 404. Public Health Service Commissioned Corps Retirement
System.
Sec. 405. National Oceanic and Atmospheric Administration
Commissioned Officer Corps Retirement System.
Sec. 406. Coast Guard Military Retirement System.
Subtitle B—Accrual Funding of Post-Retirement Health Benefits
Costs for Federal Employees
Sec. 411. Federal employees health benefits fund.
Sec. 412. Funding Uniformed Services health benefits for all
retirees.
Sec. 413. Effective date.
Subtitle C—Earmark Transparency
Sec. 421. Prohibition on obligation of funds for earmarks
included only in Congressional reports.
Sec. 422. Definitions.
Subtitle D—Public Debt Limit Reform
Sec. 431. Limit on public debt.
Sec. 432. Repeal of the Gephardt Rule.
Subtitle E—Risk-Assumed Budgeting
Sec. 441. Federal insurance programs.
Title V—MAINTAINING A COMMITMENT TO THE FAMILY BUDGET
Subtitle A—Further Enforcement Amendments
Sec. 501. Super-majority points of order in the House of
Representatives and the Senate.
Sec. 502. Budget resolution enforcement point of
order.
Sec. 503. Point of order waiver protection.
Subtitle B—The Byrd Rule
Sec. 511. Limitation on Byrd Rule.
Subtitle C—Treatment of Extraneous Appropriations in Omnibus
Appropriation Measures
Sec. 521. Treatment of extraneous appropriations.
2.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, 2008.
<enum>I</enum><header>A
SIMPLE AND BINDING BUDGET</header>
<subtitle id="H74F8A6B5A3DA44F2893D7EA82EE0787F"><enum>A</enum><header>Joint Budget
Resolutions</header>
<section id="HF74700E43FA84214B43FC5E2BE4561CE"><enum>101.</enum><header>Declaration of
purposes for the Budget Act</header><text display-inline="no-display-inline">Paragraphs (1) and (2) of section 2 of the
Congressional Budget and Impoundment Control Act of 1974 are amended to read as
follows:</text>
<quoted-block id="HFF75A1C2523B49D995FEC8F802EF945" style="OLC">
<paragraph id="H5F431E99E0E549C98CCA2069007E0063"><enum>(1)</enum><text>to assure
effective control over the budgetary process;</text>
</paragraph><paragraph id="H2957948D4AC2458581A62B00474BD60"><enum>(2)</enum><text>to facilitate the
determination each year of the appropriate level of Federal revenues and
expenditures by the Congress and the
President;</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="H8F9228707E02470D851354DE45BA008F"><enum>102.</enum><header>The
timetable</header><text display-inline="no-display-inline">Section 300 of the
Congressional Budget Act of 1974 is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H64DDD654BE6E4066A49FC58DAAA9B324" style="traditional">
<section id="HF1DE31FCBA514D77B518DBE4B26CEB47"><enum>300.</enum><header>Timetable</header><text>The timetable
with respect to the congressional budget process for any fiscal year is as
follows:</text>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="4.4.4.0.0.0" subformat="S6211" table-type="2-Generic:-2-text,-even-cols">
<tgroup cols="2" grid-typeface="1.1" thead-tbody-ldg-size="10.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec><colspec align="left" coldef="txt" colname="col2" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="col1" rowsep="0"><bold>On or
before:</bold></entry><entry align="center" colname="col2" rowsep="0"><bold>Action to be completed:</bold></entry>
</row>
</thead>
<tbody>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">First Monday in
February</entry><entry colname="col2" leader-modify="clr-ldr">President submits
his budget </entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">February 15</entry><entry colname="col2" leader-modify="clr-ldr">Congressional Budget Office submits
report to Budget Committees</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">Not later than 6 weeks after
President submits budget</entry><entry colname="col2" leader-modify="clr-ldr">Committees submit views and estimates to Budget
Committees</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">April 1</entry><entry colname="col2" leader-modify="clr-ldr">Budget Committees report joint
resolution on the budget</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">April 15</entry><entry colname="col2" leader-modify="clr-ldr">Congress completes action on joint
resolution on the budget</entry>
</row>
</tbody>
</tgroup>
</table>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="4.4.4.0.0.0" subformat="S6211" table-type="2-Generic:-2-text,-even-cols">
<tgroup cols="2" grid-typeface="1.1" thead-tbody-ldg-size="10.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec><colspec align="left" coldef="txt" colname="col2" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="col1" rowsep="0"><bold>On or
before:</bold></entry><entry align="center" colname="col2" rowsep="0"><bold>
Action to be completed:</bold></entry>
</row>
</thead>
<tbody>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 10</entry><entry colname="col2" leader-modify="clr-ldr">House Appropriations Committee reports
last annual appropriation bill</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 15</entry><entry colname="col2" leader-modify="clr-ldr">Congress completes action on
reconciliation legislation</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 30</entry><entry colname="col2" leader-modify="clr-ldr">House completes action on annual
appropriation bills</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">October 1</entry><entry colname="col2" leader-modify="clr-ldr">Fiscal year begins</entry>
</row>
</tbody>
</tgroup></table>
</section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="H59A5F08C8EF5425EB45D5CF45119CEE"><enum>103.</enum><header>Annual joint
resolutions on the budget</header>
<subsection display-inline="no-display-inline" id="H2ED52658BD21433DB227BAD377BE9753"><enum>(a)</enum><header>Content of
Annual Joint Resolutions on the Budget</header><text>Section 301(a)(4) of the
Congressional Budget Act of 1974 is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HF6D5FEB7181C4C4D9D3185538530226F" style="OLC">
<paragraph id="HA3DEA5AD254342268E39A310B69F9526"><enum>(4)</enum><text>subtotals of new
budget authority and outlays for nondefense discretionary spending, defense
discretionary spending, direct spending (excluding interest), and interest; and
for emergencies (for the reserve fund in section 316(b) and for military
operations in section
316(c));</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HF6B3C648B43E475800B64B3981CF16AB"><enum>(b)</enum><header>Additional
Matters in Joint Resolution</header><text>Section 301(b) of the Congressional
Budget Act of 1974 is amended as follows:</text>
<paragraph id="H5F5F8C4F07B74C0FB377A27FE9E25080"><enum>(1)</enum><text>Strike paragraphs
(1), (4), and (6) through (9).</text>
</paragraph><paragraph id="HEEBC40BDA70F4870BB4EA12E88F2C006"><enum>(2)</enum><text>Redesignate
paragraphs (2), (3), and (5) accordingly, insert <quote>and</quote> after the
new paragraph (1), and in the new paragraph (2) strike the semicolon and insert
a period.</text>
</paragraph></subsection><subsection id="HACE8BA9CE3F94067B6C2CE1ECBA4DF61"><enum>(c)</enum><header>Required
Contents of Report</header><text>Section 301(e)(2) of the Congressional Budget
Act of 1974 is amended as follows:</text>
<paragraph id="H4FA1FCAD445143EEBA75B00B8D8D704"><enum>(1)</enum><text>Redesignate
subparagraphs (A), (B), (C), (D), (E), and (F) as subparagraphs (B), (C), (E),
(F), (H), and (I), respectively.</text>
</paragraph><paragraph id="H022AF529D68E45CDA62D753C68D042EA"><enum>(2)</enum><text>In subparagraph
(C) (as redesignated), strike <quote>mandatory</quote> and insert <quote>direct
spending</quote>.</text>
</paragraph><paragraph id="H5F92F90EA6CA4AEE94A488B41B563B80"><enum>(3)</enum><text>After subparagraph
(C) (as redesignated), insert the following new subparagraph:</text>
<quoted-block id="H7A88A9FA21EF45F8BF5C76B0E0D5B0F" style="OLC">
<subparagraph id="HE5D7E523DF3C4F58B689FD6E5922CB9F"><enum>(D)</enum><text>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;</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HB28067BE8BCF466488FB4DFEA460DBC5"><enum>(4)</enum><text>After subparagraph
(F) (as redesignated), insert the following new subparagraph:</text>
<quoted-block id="H5D52DF44346F4B77BFF790000FA8C31" style="OLC">
<subparagraph id="H9A5BE61BD9874E499B80EE75AF0233C6"><enum>(G)</enum><text>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;</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H3ED3FD45037641E789CE81A632F3AB1E"><enum>(d)</enum><header>Additional
Contents of Report</header><text>Section 301(e)(3) of the Congressional Budget
Act of 1974 is amended as follows:</text>
<paragraph id="H6CD3049452A440DDAEA6BF162F745C61"><enum>(1)</enum><text>Redesignate
subparagraphs (A) and (B) as subparagraphs (B) and (C), respectively, strike
subparagraphs (C) and (D), and redesignate subparagraph (E) as subparagraph (D)
and strike the period and insert <quote>; and</quote>.</text>
</paragraph><paragraph id="HBA24CB94644F457B88D3FAD28D4830C"><enum>(2)</enum><text>Before subparagraph
(B), insert the following new subparagraph:</text>
<quoted-block id="H590EE1BD86CB42D8B15B8D34BD28292F" style="OLC">
<subparagraph id="HE45E9087E32343F79DA4A6A9BEDAB197"><enum>(A)</enum><text>new budget
authority and outlays for each major functional category, based on allocations
of the total levels set forth pursuant to subsection
(a)(1);</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H66151EC6B8D04FD7815392DD56FC6D57"><enum>(3)</enum><text>At the end, add
the following new subparagraph:</text>
<quoted-block id="H5EB891B0ACAF4CFEADA82C002BF3F9D" style="OLC">
<subparagraph id="H82ACD673B1724EADB57B16E2BAD2304E"><enum>(E)</enum><text>set forth, if
required by subsection (f), the calendar year in which, in the opinion of the
Congress, the goals for reducing unemployment set forth in section 4(b) of the
Employment Act of 1946 should be
achieved.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H5B81DDBA144B454E9DE170024A174B9"><enum>(e)</enum><header>President’s
Budget Submission to the Congress</header><paragraph commented="no" display-inline="yes-display-inline" id="H4AEE81F045C5462EAFE000DCA6C7A69"><enum>(1)</enum><text>The first two sentences
of <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code, are amended to read as
follows:</text>
<quoted-block display-inline="yes-display-inline" id="H090124E008844CD5919DC23B864990BC" style="OLC">
<text>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:</text><subparagraph id="H636530B907A7409698834C00DE00DF39" indent="up1"><enum>(A)</enum><text>totals of new budget authority and
outlays;</text>
</subparagraph><subparagraph id="H2AD4107C37734565B4DFC8E29B6B636D" indent="up1"><enum>(B)</enum><text>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;</text>
</subparagraph><subparagraph id="H19CF92B78FF64F089B593C8048441CEC" indent="up1"><enum>(C)</enum><text display-inline="yes-display-inline">the surplus or deficit in the
budget;</text>
</subparagraph><subparagraph id="H8268816E07C642A2939E761E3FB57E36" indent="up1"><enum>(D)</enum><text display-inline="yes-display-inline">subtotals of new budget authority and
outlays for nondefense discretionary spending, defense discretionary spending,
direct spending (excluding interest), and interest, and for emergencies (for
the reserve fund in section 316(b) and for military operations in section
316(c)); and</text>
</subparagraph><subparagraph id="H66C6286956C94516B21767F7818646C3" indent="up1"><enum>(E)</enum><text display-inline="yes-display-inline">the public debt.</text>
</subparagraph><quoted-block-continuation-text quoted-block-continuation-text-level="subsection">Each
budget submission shall include a budget message and summary and supporting
information and, as a separately delineated statement, the levels requires in
the preceding sentence for at least each of the 4 ensuing fiscal
years.</quoted-block-continuation-text><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HCFC566BBE7D54F58AFB707EB2F6B18C9" indent="up1"><enum>(2)</enum><text>The third sentence of section 1105(a)
of title 31, United States Code, is amended by inserting
<quote>submission</quote> after <quote>budget</quote>.</text>
</paragraph></subsection><subsection id="H641E11A821294B56B782CCA57F510070"><enum>(f)</enum><header>Limitation on
Contents of Budget Resolutions</header><text>Section 305 of the Congressional
Budget Act of 1974 is amended by adding at the end the following new
subsection:</text>
<quoted-block id="H8116068EA65C4E87862B7EB17B17E3A" style="OLC">
<subsection id="H72849AA5AF2C44BB9EEA5707270900F1"><enum>(e)</enum><header>Limitation on
Contents</header><paragraph commented="no" display-inline="yes-display-inline" id="HAA1F5EDA399C4B99BD91EC8DD3C3EC82"><enum>(1)</enum><text>It shall not be in order
in the House of Representatives or in the Senate to consider any joint
resolution on the budget or any amendment thereto or conference report thereon
that contains any matter referred to in paragraph (2).</text>
</paragraph><paragraph id="H31180CA7EAA447EF931079537435A680" indent="up1"><enum>(2)</enum><text>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.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="HBF744D71DC3544648042658ED231E3C9"><enum>104.</enum><header>Budget required
before spending bills may be considered</header>
<subsection id="H8B85D47B1C794A6EA1D1DB2D13428D6B"><enum>(a)</enum><header>Amendments to
Section <enum-in-header>302</enum-in-header></header><text>Section 302 of the
Congressional Budget Act of 1974 is amended—</text>
<paragraph id="H5247074A103D4C01BF00938C5BEC881E"><enum>(1)</enum><text>in subsection (a),
by striking paragraph (5); and</text>
</paragraph><paragraph id="HA08F04A052C8419DB0A9E79B22690041"><enum>(2)</enum><text>in subsection
(f)(1)(A), by striking <quote>as reported</quote>.</text>
</paragraph></subsection><subsection id="HA82F6BA4082245720095544100B069CF"><enum>(b)</enum><header>Amendments to
Section <enum-in-header>303</enum-in-header> and Conforming
Amendments</header><paragraph commented="no" display-inline="yes-display-inline" id="HB849DA7A4EC44EDFAD16AE128EBE9DED"><enum>(1)</enum><text>Section 303 of the
Congressional Budget Act of 1974 is amended by striking “(a)
<header-in-text level="subsection" style="OLC">In General</header-in-text>.—”,
by striking “has been agreed to” and inserting “takes effect in subsection (a),
and by striking subsections (b) and (c); and</text>
</paragraph><paragraph id="H692F41203F0A419BAE85D58DD2DDE980" indent="up1"><enum>(2)</enum><text>by striking its section heading and
inserting the following new section heading: <quote><header-in-text level="section" style="traditional">consideration of budget-related legislation
before budget becomes law</header-in-text></quote>.</text>
</paragraph></subsection><subsection id="H4183B8EFC1D84CCEA7E471127D8BE515"><enum>(c)</enum><header>Additional
Amendments</header><paragraph commented="no" display-inline="yes-display-inline" id="H2E25EF7833C94DFBBB8DCB13595B00B3"><enum>(1)</enum><text>Section 302(g)(1) of the
Congressional Budget Act of 1974 is amended by striking <quote>and, after April
15, section 303</quote>.</text>
</paragraph><paragraph id="H528515EEB1FA45A2A475AE22B05777CF" indent="up1"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H2FC37DE92E7941E6B0228C2F01149CC2"><enum>(A)</enum><text>Section 904(c)(1) of the
Congressional Budget Act of 1974 is amended by inserting <quote>303,</quote>
before <quote>305(b)(2),</quote>.</text>
</subparagraph><subparagraph id="HC9CC70A2320C4B78825CD49B89467448" indent="up1"><enum>(B)</enum><text>Section 904(d)(2) of the
Congressional Budget Act of 1974 is amended by inserting <quote>303,</quote>
before <quote>305(b)(2),</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="HD20D3D9A38A44B64BBE39248B25F061B"><enum>(d)</enum><header>Expedited
Procedures Upon Veto of Joint Resolution on the Budget</header><paragraph commented="no" display-inline="yes-display-inline" id="H5F0C8EB71EF14A8094FBACE77FD743C"><enum>(1)</enum><text>Title III of the
Congressional Budget Act of 1974 (as amended by section 116) is further amended
by adding after section 316 the following new section:</text>
<quoted-block id="H60D7B5D57C254A4AB7E07328339B9204" style="traditional">
<section id="HF593BD91B62C45F1B396DF00F08E90B4"><enum>317.</enum><header>Expedited procedures upon veto of joint resolution on the
budget</header><subsection commented="no" display-inline="yes-display-inline" id="HCBFDDA9036EB4B49BD9DD5670061C44C"><enum>(a)</enum><header>Special
Rule</header><text>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.</text>
</subsection><subsection id="HA0D109D2E28A4247B4DC89C9ADF662FD"><enum>(b)</enum><header>Procedure in the
House of Representatives and the Senate</header>
<paragraph id="H6B0BD41363FD4F2CA5AE8D5F4E79AE06"><enum>(1)</enum><text>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.</text>
</paragraph><paragraph id="H48F41F52E1644AA7B86642042135D7C"><enum>(2)</enum><text>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.</text>
</paragraph></subsection><subsection id="HEEFE5C35A0304D2B885EF9DFAD20CFBB"><enum>(c)</enum><header>Contents of
Concurrent Resolutions</header><text>Any concurrent resolution on the budget
introduced under subsection (a) shall be in compliance with section 301.</text>
</subsection><subsection id="HB69471466B1D4AAE9B538CF20616F0EA"><enum>(d)</enum><header>Effect of
Concurrent Resolution on the Budget</header><text>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.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H63BA19843EF443C5912482A4001416CD" indent="up1"><enum>(2)</enum><text>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:</text>
<quoted-block id="HF55F88182FF44FC6B08FF6BB9DBD87B" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 317. Expedited procedures upon veto
of joint resolution on the
budget.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="HB9509719BD2240389B49EDCFF64E9DB1"><enum>105.</enum><header>Amendments to
effectuate joint resolutions on the budget</header>
<subsection id="HB064EA7C6CC644B4923D8ED6A0FC8F1"><enum>(a)</enum><header>Definition</header><text>Paragraph
(4) of section 3 of the Congressional Budget Act of 1974 is amended to read as
follows:</text>
<quoted-block id="H3A762A4AD7BF47E3B4EF4241CD32A871" style="OLC">
<paragraph id="H39B5E2C8DDE64BD290D32CD3BF28EA22"><enum>(4)</enum><text>the term
<term>joint resolution on the budget</term> means—</text>
<subparagraph id="H8DDDBD6BCD8843848440A746C611005F"><enum>(A)</enum><text>a joint resolution
setting forth the budget for the United States Government for a fiscal year as
provided in section 301; and</text>
</subparagraph><subparagraph id="H6D86825AACAB44A0B35D425704AA4B68"><enum>(B)</enum><text>any other joint
resolution revising the budget for the United States Government for a fiscal
year as described in section
304.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H608FC5B3B33E4046BD752C5DD656E3E"><enum>(b)</enum><header>Additional
Amendments to the Congressional Budget and Impoundment Control Act of
1974</header><paragraph commented="no" display-inline="yes-display-inline" id="H22338ECDFD284D3DA66EBAA837332440"><enum>(1)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HB7B99AD5CDE042C9BB7252A007EA6A4"><enum>(A)</enum><text>Sections 301, 302, 303,
305, 308, 310, 311, 312, 314, 405, and 904 of the Congressional Budget Act of
1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/621">2 U.S.C. 621 et seq.</external-xref>) are amended by striking <quote>concurrent</quote>
each place it appears and inserting <quote>joint</quote>.</text>
</subparagraph><subparagraph id="H5B32AC8C6CF942758EFF8F073700AC40" indent="up2"><enum>(B)</enum><clause commented="no" display-inline="yes-display-inline" id="HCDB5013E95134032AFBBC6ABAE456F00"><enum>(i)</enum><text>Sections 302(d), 302(g),
308(a)(1)(A), and 310(d)(1) of the Congressional Budget Act of 1974 are amended
by striking <quote>most recently agreed to concurrent resolution on the
budget</quote> each place it occurs and inserting <quote>most recently enacted
joint resolution on the budget or agreed to concurrent resolution on the budget
(as applicable)</quote>.</text>
</clause><clause id="HB6D0A20162684780AD5FDC3F6FEE7700" indent="up1"><enum>(ii)</enum><text>The section heading of section 301
is amended by striking <quote>adoption of concurrent resolution</quote> and
inserting <quote>joint resolutions</quote>; and</text>
</clause><clause id="HCCACF3D025664E1CA7B06486C4FAFB52" indent="up1"><enum>(iii)</enum><text>Section 304 of such Act is amended
to read as follows:</text>
<quoted-block id="HAD1A041828E9456180651409B63317C2" style="traditional">
<section id="H787A26B63A6F4BF2A8310101555756F3"><enum>304.</enum><header>Permissible revisions of budget
resolutions</header><text>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.</text>
</section><after-quoted-block>.</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="H948B54ED82D44047A446CEBA8974AC5F" indent="up2"><enum>(C)</enum><text>Sections 302, 303, 310, and 311, of
such Act are amended by striking <quote>agreed to</quote> each place it appears
and by inserting <quote>enacted</quote>.</text>
</subparagraph></paragraph><paragraph id="H907E9190274E41CCB56D419DBB16FA75" indent="up1"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H685485AF2F644AD684A85424AED97EE"><enum>(A)</enum><text>Paragraph (4) of section
3 of the Congressional Budget and Impoundment Control Act of 1974 is amended by
striking <quote>concurrent</quote> each place it appears and by inserting
<quote>joint</quote>.</text>
</subparagraph><subparagraph id="HBD7F65706BB74C51AFBBB5BB4B33BED7" indent="up1"><enum>(B)</enum><text>The table of contents set forth in
section 1(b) of such Act is amended—</text>
<clause id="H03556A1129F24D1BA13600B97659FA04"><enum>(i)</enum><text>in the item relating to section 301,
by striking <quote>adoption of concurrent resolution</quote> and inserting
<quote>joint resolutions</quote>;</text>
</clause><clause id="H72E17C526F52462489145E447E45ED93"><enum>(ii)</enum><text>by striking the item relating to
section 303 and inserting the following:</text>
<quoted-block id="H3A16868D2A3E4835B3CF6E7DC273D21" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 303. Consideration of budget-related
legislation before budget becomes
law.</toc-entry>
</toc>
<after-quoted-block>;</after-quoted-block></quoted-block>
</clause><clause id="H0763306181DA4659B587A07B143EE65C"><enum>(iii)</enum><text>by striking
<quote>concurrent</quote> and inserting <quote>joint</quote> in the item
relating to section 305.</text>
</clause></subparagraph></paragraph></subsection><subsection id="H3B4B6C8215C547E5A7927F57D01B79D4"><enum>(c)</enum><header>Conforming
Amendments to the Rules of the House of Representatives</header><text>Clauses
1(d)(1), 4(a)(4), 4(b)(2), 4(f)(1)(A), and 4(f)(2) of rule X, clause 10 of rule
XVIII, clause 10 of rule XX, and clauses 7 and 10 of rule XXI of the Rules of
the House of Representatives are amended by striking <quote>concurrent</quote>
each place it appears and inserting <quote>joint</quote>.</text>
</subsection><subsection id="H2238B3BCFC57404DB34F2B28726118E6"><enum>(d)</enum><header>Conforming
Amendments to the Balanced Budget and Emergency Deficit Control Act of
1985</header><text>Section 258C(b)(1) of the Balanced Budget and Emergency
Deficit Control Act of 1985 (<external-xref legal-doc="usc" parsable-cite="usc/2/907d">2 U.S.C. 907d(b)(1)</external-xref>) is amended by striking
<quote>concurrent</quote> and inserting <quote>joint</quote>.</text>
</subsection><subsection id="H0F51AF7200E74F6092B7523077822C79"><enum>(e)</enum><header>Conforming
Amendments to Section <enum-in-header>310</enum-in-header> Regarding
Reconciliation Directives</header><paragraph commented="no" display-inline="yes-display-inline" id="HBC11ECD38A7D4134AAE18795595DED78"><enum>(1)</enum><text>The side heading of
section 310(a) of the Congressional Budget Act of 1974 (as amended by section
105(b)) is further amended by inserting <quote><header-in-text level="subsection" style="traditional">Joint Explanatory Statement Accompanying
Conference Report on</header-in-text></quote> before <quote><header-in-text level="subsection" style="traditional">Joint</header-in-text></quote>.</text>
</paragraph><paragraph id="HF748C3B67BF148ADB9BFE67EBCC89D00" indent="up1"><enum>(2)</enum><text>Section 310(a) of such Act is amended
by striking <quote>A</quote> and inserting <quote>The joint explanatory
statement accompanying the conference report on a</quote>.</text>
</paragraph><paragraph id="HF2A2DD34F2C44E7BA54750676DD49F10" indent="up1"><enum>(3)</enum><text>The first sentence of section 310(b)
of such Act is amended by striking <quote>If</quote> and inserting <quote>If
the joint explanatory statement accompanying the conference report
on</quote>.</text>
</paragraph><paragraph id="H7D0E49A47D084A35B6B746007B3D57A4" indent="up1"><enum>(4)</enum><text>Section 310(c)(1) of such Act is
amended by inserting <quote>the joint explanatory statement accompanying the
conference report on</quote> after <quote>pursuant to</quote>.</text>
</paragraph></subsection><subsection id="H12881BDD2F874080A80002E194E49D46"><enum>(f)</enum><header>Conforming
Amendments to Section <enum-in-header>3</enum-in-header> Regarding Direct
Spending</header><text>Section 3 of the Congressional Budget and Impoundment
Control Act of 1974 is amended by adding at the end the following new
paragraph:</text>
<quoted-block id="HD2D9625BD84E486AA0393D908F85B919" style="OLC">
<paragraph id="HB7DA94C42CA8457EB90001EBFCF50061"><enum>(11)</enum><text>The term
<term>direct spending</term> has the meaning given to such term in section
250(c)(8) of the Balanced Budget and Emergency Deficit Control Act of
1985.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="HDE737D52AD9040EB86B29B079861AD30"><enum>B</enum><header>Budgeting for
Emergencies</header>
<section id="H7D538AB51C1943ADB11EC755E092B68E"><enum>111.</enum><header>Purpose</header><text display-inline="no-display-inline">The purposes of this subtitle are to—</text>
<paragraph id="H22E6C2AC4F3542D381AE3F56C1BDBF06"><enum>(1)</enum><text>develop budgetary
and fiscal procedures for emergencies;</text>
</paragraph><paragraph id="H58BC40BF82914336BCC820033C360765"><enum>(2)</enum><text>subject spending
for emergencies to budgetary procedures and controls; and</text>
</paragraph><paragraph id="H9341738675E94AA7BF5F2C4424299918"><enum>(3)</enum><text>establish criteria
for determining compliance with emergency requirements.</text>
</paragraph></section><section id="H3E6E80478185442384843D64F1447280"><enum>112.</enum><header>Repeal of
adjustments for emergencies</header>
<subsection id="H295E01522B5F41F5B165174323C4BD48"><enum>(a)</enum><header>Elimination of
Emergency Designation</header><text>Sections 251(b)(2)(A), 252(e), and
252(d)(4)(B) of the Balanced Budget and Emergency Deficit Control Act of 1985
are repealed.</text>
</subsection><subsection id="H7EAF11AEADE14C1F9EFAE0B8C6B74EE"><enum>(b)</enum><header>Elimination of
Emergency Adjustments</header><text>Section 314(b) of the Congressional Budget
Act of 1974 is amended by striking paragraph (1) and by redesignating
paragraphs (2) through (5) as paragraphs (1) through (4), respectively.</text>
</subsection><subsection id="H1632A83A7F6D45C4892B719903EF52CF"><enum>(c)</enum><header>Conforming
Amendment</header><text>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).</text>
</subsection></section><section id="H8EADDC2F689C4162B2F3BB705323F8A2"><enum>113.</enum><header>OMB emergency
criteria</header>
<subsection id="H22BA842BC558485B82C84572BDD677B"><enum>(a)</enum><header>Definition of
Emergency</header><text>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:</text>
<quoted-block id="H13B7458709E14ADBB1D05B8FEFCAAF22" style="OLC">
<paragraph id="H0163F87BD246451ABBAB8335A2F13D01"><enum>(12)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H1A3B3A9D54F14BFA8F34A04F1C00D7E4"><enum>(A)</enum><text>The term
<term>emergency</term> means a situation that—</text>
<clause id="H796068413EF3469DA509B7DFBC8FDAE5" indent="up1"><enum>(i)</enum><text>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</text>
</clause><clause id="HFE632F5FDA324256AD8C736645FF1C35" indent="up1"><enum>(ii)</enum><text>is unanticipated.</text>
</clause></subparagraph><subparagraph id="H84BB0B0376B7459DB594B2EB7BF33EF" indent="up1"><enum>(B)</enum><text>As used in subparagraph (A), the term
<term>unanticipated</term> means that the situation is—</text>
<clause id="H7930B2E32FA04BE3BC16C333A3A89FCA"><enum>(i)</enum><text>sudden, which means quickly coming
into being or not building up over time;</text>
</clause><clause id="HB34C3B11BC7242CFBCA8FAE97ED3FED8"><enum>(ii)</enum><text>urgent, which means a pressing and
compelling need requiring immediate action;</text>
</clause><clause id="H131D6D6B7CCB45BDA159362F5B3B33CC"><enum>(iii)</enum><text>unforeseen, which means not
predicted or anticipated as an emerging need; and</text>
</clause><clause id="H59B7D741C9F746BA876C718BCF4B8E80"><enum>(iv)</enum><text>temporary, which means not of a
permanent
duration.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HF73F1BE634DE4E509FACC1677C3602EC"><enum>(b)</enum><header>Conforming
Amendment</header><text>The term <term>emergency</term> has the meaning given
to such term in section 3 of the Congressional Budget and Impoundment Control
Act of 1974.”.</text>
</subsection></section><section id="HB679FAA70DB24066A806F60222810007"><enum>114.</enum><header>Development of
guidelines for application of emergency definition</header><text display-inline="no-display-inline">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.</text>
</section><section id="H3F6A3CBA79A844B9942540988CDCB1F2"><enum>115.</enum><header>Reserve Fund
for emergencies in President’s budget</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(f)</external-xref> of title 31, United States
Code is amended by adding at the end the following new sentences: <quote>Such
budget submission shall also comply with the requirements of subsections (b)
and (c) of section 316 of the Congressional Budget Act of 1974 and, in the case
of any budget authority requested for an emergency, such submission shall
include a detailed justification of why such emergency is an emergency within
the meaning of section 3(12) of the Congressional Budget Act of
1974.</quote>.</text>
</section><section id="HDE7FBEDC76784EAF9D317506F9B0A32E"><enum>116.</enum><header>Adjustments and
Reserve Fund for emergencies in joint budget resolutions</header>
<subsection id="H626ACAE90D204E2D83B7005D101971D8"><enum>(a)</enum><header>Emergencies</header><text>Title
III of the Congressional Budget Act of 1974 is amended by adding at the end the
following new section:</text>
<quoted-block id="H7865AE95616F48E496CB51B3E11C2264" style="traditional">
<section id="H32DDF680B2F74E64A995E2AC5DA18DE"><enum>316.</enum><header>Emergencies</header><subsection commented="no" display-inline="yes-display-inline" id="H5B0B1CCA92C24349BDE880F5274BB876"><enum>(a)</enum><header>Adjustments</header>
<paragraph id="HC4E7BFD635E148348D62E296C8E73B61"><enum>(1)</enum><header>In
general</header><text>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) that is not covered by
subsection (c)—</text>
<subparagraph id="HDD2D8309163A4311A16569371BB5A15E"><enum>(A)</enum><text>the chairman 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 114 of
the Family Budget Protection Act of 2007, the portion (if any) of the amount so
specified that is for an emergency within the meaning of section 3(12);
and</text>
</subparagraph><subparagraph id="H0C84D167FE224244A2E189594EF72D79"><enum>(B)</enum><text>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.</text>
</subparagraph></paragraph><paragraph id="H6C0899A87B304A0B908807050142EA13"><enum>(2)</enum><header>Matters to be
adjusted</header><text>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).</text>
</paragraph></subsection><subsection id="HFE8F63BC632B415294353F6D00CE70AF"><enum>(b)</enum><header>Reserve Fund for
Nonmilitary Emergencies</header><text>The amount set forth in the reserve fund
for emergencies for budget authority and outlays for a fiscal year pursuant to
section 301(a)(4) shall equal—</text>
<paragraph id="H3875BB01FFD34C5AAB8C7E17A700BAD9"><enum>(1)</enum><text>the average of the
enacted levels of budget authority for emergencies (other than those covered by
subsection (c)) in the 5 fiscal years preceding the current year; and</text>
</paragraph><paragraph id="HE704453351C24C88B66B0919A195975B"><enum>(2)</enum><text>the average of the
levels of outlays for emergencies in the 5 fiscal years preceding the current
year flowing from the budget authority referred to in paragraph (1), but only
in the fiscal year for which such budget authority first becomes available for
obligation.</text>
</paragraph></subsection><subsection id="H23220E12A4474D4D866BF4E078EF74C6"><enum>(c)</enum><header>Treatment of
Emergencies to Fund Certain Military Operations</header><text>Whenever the
Committee on Appropriations reports any bill or joint resolution that provides
budget authority for any emergency that is a threat to national security and
the funding of which carries out a military operation authorized by a
declaration of war or a joint resolution authorizing the use of military force
(or economic assistance funding in furtherance of such operation) 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 the total amount of budget authority or outlays provided for
emergencies for the budget year in the joint resolution on the budget (pursuant
to section 301(a)(4)) to be exceeded:</text>
<paragraph id="H7C95114D838C4D56B1021C32D852916"><enum>(1)</enum><text>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 paragraph (2), 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.</text>
</paragraph><paragraph id="HEF94B30B9085411795935F135410B700"><enum>(2)</enum><text>An amendment to
such a bill or joint resolution referred to in this subsection shall only
consist of an exemption from section 251 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 114 of
the Family Budget Protection Act of 2007, that such budget authority is for an
emergency within the meaning of section 3(12).</text>
</paragraph><paragraph id="HFED3445E85A448EBAF1F57908EE573B2"><enum>(3)</enum><text>If such a bill or
joint resolution is reported with an amendment specified in paragraph (2) 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.</text>
</paragraph></subsection><subsection id="HC1384E0F640F4423807C5DFBCA5182C"><enum>(d)</enum><header>Committee
Notification of Emergency Legislation</header><text>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
114 of the Family Budget Protection Act of
2007.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H6D4A71214F2F45709E89A3805BBF647C"><enum>(b)</enum><header>Conforming
Amendment</header><text>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:</text>
<quoted-block id="H15C5AB5C791347418459576E406C5306" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 316.
Emergencies.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="HF7857FC4BFDD4C3CAB57055005503ECA"><enum>117.</enum><header>Application of
section <enum-in-header>306</enum-in-header> to emergencies in excess of
amounts in Reserve Fund</header><text display-inline="no-display-inline">Section 306 of the Congressional Budget Act
of 1974 is amended by inserting at the end the following new sentence:
<quote>No amendment reported by the Committee on the Budget (or from the
consideration of which such committee has been discharged) pursuant to section
316(c) may be amended.</quote>.</text>
</section><section id="HB665EC5168AA4C50A51F28A4EDECD127"><enum>118.</enum><header>Up-to-date
tabulations</header><text display-inline="no-display-inline">Section 308(b)(2)
of the Congressional Budget Act of 1974 is amended by striking
<quote>and</quote> at the end of subparagraph (B), by striking the period at
the end of subparagraph (C) and inserting <quote>; and</quote>, and by adding
at the end the following new subparagraph:</text>
<quoted-block id="H50C08319E37F41FE996900A8BCDEEB26" style="OLC">
<subparagraph id="H4CBE473B991D46BD8522AFA4606847C"><enum>(D)</enum><text>shall include an
up-to-date tabulation of amounts remaining in the reserve fund for
emergencies.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="HC2C4DCA5305B421A8B0044FEB1E12953"><enum>119.</enum><header>Prohibition on
amendments to emergency Reserve Fund</header>
<subsection id="H51978502669449A481CA19AF16528500"><enum>(a)</enum><header>Point of
Order</header><text>Section 305 of the Congressional Budget Act of 1974 (as
amended by section 103(f)) is further amended by adding at the end the
following new subsection:</text>
<quoted-block id="HE1F2E78B48404E6A8E7F7FF107071744" style="OLC">
<subsection id="H5704D60B839F4AED9F7094E6044DA9CF"><enum>(f)</enum><header>Point of Order
Regarding Emergency Reserve Fund</header><text>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.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H6E10994769B34C7092E503E908CAEB7"><enum>(b)</enum><header>Technical
Amendment</header><paragraph commented="no" display-inline="yes-display-inline" id="HE97D72E25D604960AAD19F30DD6CA81"><enum>(1)</enum><text>Section 904(c)(1) of the
Congressional Budget Act of 1974 is amended by inserting <quote>305(e),
305(f),</quote> after <quote>305(c)(4),</quote>.</text>
</paragraph><paragraph id="HCE2BEFC17A924129961F634E2F19A784" indent="up1"><enum>(2)</enum><text>Section 904(d)(2) of the
Congressional Budget Act of 1974 is amended by inserting <quote>305(e),
305(f),</quote> after <quote>305(c)(4),</quote>.</text>
</paragraph></subsection></section></subtitle><subtitle id="HE76CEBBE108D47559877FB93060057CB"><enum>C</enum><header>Biennial Budget
Option</header>
<section id="H65ED9B8BD06445FF9867F0F9BFBA53"><enum>121.</enum><header>Effective
date</header><text display-inline="no-display-inline">If—</text>
<paragraph id="HD4EB3868B1D34272992E2264D0CD81C5"><enum>(1)</enum><text>as part of the
President’s budget submission under <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States
Code, during the first session of any Congress, the President includes a
request that the joint resolution on the budget that will be considered during
the first session of the next Congress be for a biennium consisting of two
consecutive fiscal years; and</text>
</paragraph><paragraph id="HE5359F8F50EA498BA5A68D33069E156C"><enum>(2)</enum><text>the joint
resolution on the budget for the fiscal year to which the President’s
submission relates contains a provision stating that the joint resolution on
the budget that will be considered during the first session of the next
Congress shall be for a biennium consisting of two consecutive fiscal
years;</text>
</paragraph></section><appropriations-major id="LEXA-Repairid2A9A90EBF81043228491F4D1C433BACC"><subsection id="LEXA-Repairid64006EC199C04392B79FF65D8AA83FC5"><enum></enum><continuation-text continuation-text-level="subsection">then the
provisions of this subtitle shall take effect on January 1 of the calendar year
in which that next Congress commences and apply to that Congress and each
Congress thereafter.</continuation-text></subsection></appropriations-major><section id="H76EB818510A846C189F650D84970909E"><enum>122.</enum><header>Revision of
timetable</header><text display-inline="no-display-inline">Section 300 of the
Congressional Budget Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/631">2 U.S.C. 631</external-xref>) is amended to read as
follows:</text>
<quoted-block id="HED30FD7785BD4B9C9502F496E25ECFF3" style="traditional">
<section id="H951EAE7B943049448BB6591EB3B02420"><enum>300.</enum><header>Timetable</header><subsection commented="no" display-inline="yes-display-inline" id="H814BF6FD28A644E9ABC1872949A42F3E"><enum>(a)</enum><header>In
General</header><text>Except as provided by subsection (b), the timetable with
respect to the congressional budget process for any Congress (beginning with
the One Hundred Twelfth Congress or a subsequent Congress, as applicable) is as
follows:</text>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="4.4.4.0.0.0" subformat="S6211" table-type="2-Generic:-2-text,-even-cols">
<tgroup cols="2" grid-typeface="1.1" thead-tbody-ldg-size="10.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec><colspec align="left" coldef="txt" colname="col2" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="col1" rowsep="0"><bold>On or
before:</bold></entry><entry align="center" colname="col2" rowsep="0"><bold>First session action to be completed:</bold></entry>
</row>
</thead>
<tbody>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">First Monday in
February</entry><entry colname="col2" leader-modify="clr-ldr">President submits
budget recommendations</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">February 15</entry><entry colname="col2" leader-modify="clr-ldr">Congressional Budget Office submits
report to Budget Committees</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">Not later than 6 weeks after
budget submission</entry><entry colname="col2" leader-modify="clr-ldr">Committees submit views and estimates to Budget
Committees</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">April 1</entry><entry colname="col2" leader-modify="clr-ldr">Budget Committees report joint
resolution on the biennial budget</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">May 15</entry><entry colname="col2" leader-modify="clr-ldr">Congress completes action on joint
resolution on the biennial budget</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">May 15</entry><entry colname="col2" leader-modify="clr-ldr">Biennial appropriation bills may be
considered in the House</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 10</entry><entry colname="col2" leader-modify="clr-ldr">House Appropriations Committee reports
last biennial appropriation bill</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 30</entry><entry colname="col2" leader-modify="clr-ldr">House completes action on biennial
appropriation bills</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">October 1</entry><entry colname="col2" leader-modify="clr-ldr">Biennium begins</entry>
</row>
</tbody>
</tgroup>
</table>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="4.4.4.0.0.0" subformat="S6211" table-type="2-Generic:-2-text,-even-cols">
<tgroup cols="2" grid-typeface="1.1" thead-tbody-ldg-size="10.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec><colspec align="left" coldef="txt" colname="col2" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="col1" rowsep="0"><bold>On or
before:</bold></entry><entry align="center" colname="col2" rowsep="0"><bold>Second session sction to be completed:</bold></entry>
</row>
</thead>
<tbody>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">February 15</entry><entry colname="col2" leader-modify="clr-ldr">President submits budget review</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">Not later than 6 weeks after
President submits budget review</entry><entry colname="col2" leader-modify="clr-ldr">Congressional Budget Office submits report to Budget
Committees</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">The last day of the
session</entry><entry colname="col2" leader-modify="clr-ldr">Congress completes
action on bills and resolutions authorizing new budget authority for the
succeeding biennium</entry>
</row>
</tbody>
</tgroup>
</table>
</subsection><subsection id="H14C1B6253FC246F1A8F0BC2A61DF64B"><enum>(b)</enum><header>Special
Rule</header><text>In the case of any first session of Congress that begins in
any year during which the term of a President (except a President who succeeds
himself) begins, the following dates shall supersede those set forth in
subsection (a):</text>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="4.4.4.0.0.0" subformat="S6211" table-type="2-Generic:-2-text,-even-cols">
<tgroup cols="2" grid-typeface="1.1" thead-tbody-ldg-size="10.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec><colspec align="left" coldef="txt" colname="col2" colsep="1" colwidth="232" min-data-value="150" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="col1" rowsep="0"><bold>On or
before:</bold></entry><entry align="center" colname="col2" rowsep="0"><bold>First session action to be completed:</bold></entry>
</row>
</thead>
<tbody>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">First Monday in
April</entry><entry colname="col2" leader-modify="clr-ldr">President submits
budget recommendations</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">April 20</entry><entry colname="col2" leader-modify="clr-ldr">Committees submit views and estimates to
Budget Committees</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">May 15</entry><entry colname="col2" leader-modify="clr-ldr">Budget Committees report joint
resolution on the biennial budget</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 1</entry><entry colname="col2" leader-modify="clr-ldr">Congress completes action on joint
resolution on the biennial budget</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">June 1</entry><entry colname="col2" leader-modify="clr-ldr">Biennial appropriation bills may be
considered in the House</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">July 1</entry><entry colname="col2" leader-modify="clr-ldr">House Appropriations Committee reports
last biennial appropriation bill</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">July 20</entry><entry colname="col2" leader-modify="clr-ldr">House completes action on biennial
appropriation bills.</entry>
</row>
<row><entry colname="col1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">October 1</entry><entry colname="col2" leader-modify="clr-ldr">Biennium begins</entry>
</row>
</tbody>
</tgroup></table>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="HDD1882AD5B6E4FB5A916B3C84593F235"><enum>123.</enum><header>Amendments to
the Congressional Budget and Impoundment Control Act of 1974</header>
<subsection id="HA9F232444639440F838FDAE900B24696"><enum>(a)</enum><header>Declaration of
Purpose</header><text>Section 2(2) of the Congressional Budget and Impoundment
Control Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/621">2 U.S.C. 621(2)</external-xref>) is amended by striking <quote>each
year</quote> and inserting <quote>biennially</quote>.</text>
</subsection><subsection id="H63E10B300AA24499A4D4BEB656E6373"><enum>(b)</enum><header>Definitions</header>
<paragraph id="HFFA9E9EDD6E848F7812B9CE56C83A8E"><enum>(1)</enum><header>Budget
resolution</header><text>Section 3(4) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/622">2 U.S.C. 622(4)</external-xref>) is amended
by striking <quote>fiscal year</quote> each place it appears and inserting
<quote>biennium</quote>.</text>
</paragraph><paragraph id="HBF1CF7D68BF34C9B96CDB32298D187EA"><enum>(2)</enum><header>Biennium</header><text>Section
3 of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/622">2 U.S.C. 622</external-xref>) (as amended by section 111(a)) is further amended
by adding at the end the following new paragraph:</text>
<quoted-block id="H9A5A1F48B3E44F99A1D6687D9192FA5" style="OLC">
<paragraph id="H91FF77D4F53D426B9554FDA329B1F148"><enum>(13)</enum><text>The term
<term>biennium</term> means the period of 2 consecutive fiscal years beginning
on October 1 of any odd-numbered
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HC2E2B3C82E224585BBA7646114500AA"><enum>(c)</enum><header>Biennial Joint
Resolution on the Budget</header>
<paragraph id="HD5B7BA14AAAD42B9A4409CE5A62DC67D"><enum>(1)</enum><header>Contents of
resolution</header><text>Section 301(a) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632">2 U.S.C. 632(a)</external-xref>) is
amended—</text>
<subparagraph id="HA16D3BACE0DC464F9EDCA450A7D1E4D3"><enum>(A)</enum><text>in the matter
preceding paragraph (1) by—</text>
<clause id="H3FA8E13E1CDE481E9BDDCFE5CEE2125B"><enum>(i)</enum><text>striking
<quote>April 15 of each year</quote> and inserting <quote>May 15 of each
odd-numbered year</quote>;</text>
</clause><clause id="H68CC5AF31A8248B68BF7E93DC4EBC5A0"><enum>(ii)</enum><text>striking
<quote>the fiscal year beginning on October 1 of such year</quote> the first
place it appears and inserting <quote>the biennium beginning on October 1 of
such year</quote>;</text>
</clause><clause id="H9F31C984376F4B6E8228503966AAA3DB"><enum>(iii)</enum><text>striking
<quote>the fiscal year beginning on October 1 of such year</quote> the second
place it appears and inserting <quote>each fiscal year in such period</quote>;
and</text>
</clause><clause id="H38BF7B2CE91147FF88976F71F074B9DB"><enum>(iv)</enum><text>striking
<quote>each of the four ensuing fiscal years</quote> and inserting <quote>each
fiscal year in the next 2 bienniums</quote>;</text>
</clause></subparagraph><subparagraph id="H1D79C6BCE3B44E5498CBD9A8EFE08658"><enum>(B)</enum><text>in paragraph (6),
by striking <quote>for the fiscal year</quote> and inserting <quote>for each
fiscal year in the biennium</quote>; and</text>
</subparagraph><subparagraph id="HFFAA5DDC51614B9AA3C0B6A9CE62188D"><enum>(C)</enum><text>in paragraph (7),
by striking <quote>for the fiscal year</quote> and inserting <quote>for each
fiscal year in the biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="H51D60F61C75A4CAD8BF53BED782200F8"><enum>(2)</enum><header>Additional
matters</header><text>Section 301(b) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632">2 U.S.C. 632(b)</external-xref>) is
amended—</text>
<subparagraph id="H863177C7852E4BC7AB62BA3F95618EE0"><enum>(A)</enum><text>in paragraph (3),
by striking <quote>for such fiscal year</quote> and inserting <quote>for either
fiscal year in such biennium</quote>; and</text>
</subparagraph><subparagraph id="H8E0680F4D6C6485885D51106E8DBAA55"><enum>(B)</enum><text>in paragraph (7),
by striking <quote>for the first fiscal year</quote> and inserting <quote>for
each fiscal year in the biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="HAC25CDB2552846A1A5B113CFA8482000"><enum>(3)</enum><header>Views of other
committees</header><text>Section 301(d) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632">2 U.S.C. 632(d)</external-xref>) is
amended by inserting <quote>(or, if applicable, as provided by section
300(b))</quote> after <quote>United States Code</quote>.</text>
</paragraph><paragraph id="HE5F33BA73C6B4B22A53E40C1FFF0666"><enum>(4)</enum><header>Hearings</header><text>Section
301(e)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632">2 U.S.C. 632(e)</external-xref>) is amended by—</text>
<subparagraph id="HFB70FCD2702F4E5796E9356E089BDFA"><enum>(A)</enum><text>striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>; and</text>
</subparagraph><subparagraph id="HA5917D8FC6C84E3DA80121481CD7298D"><enum>(B)</enum><text>inserting after
the second sentence the following: <quote>On or before April 1 of each
odd-numbered year (or, if applicable, as provided by section 300(b)), the
Committee on the Budget of each House shall report to its House the joint
resolution on the budget referred to in subsection (a) for the biennium
beginning on October 1 of that year.</quote>.</text>
</subparagraph></paragraph><paragraph id="HBAE4B40743AB47FA9890CA9DE6D7C4D"><enum>(5)</enum><header>Goals for
reducing unemployment</header><text>Section 301(f) of such Act (2 U.S.C.
632(f)) is amended by striking <quote>fiscal year</quote> each place it appears
and inserting <quote>biennium</quote>.</text>
</paragraph><paragraph id="HA6152A5080F04F4E9EB91183894BE35C"><enum>(6)</enum><header>Economic
assumptions</header><text>Section 301(g)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632">2 U.S.C. 632(g)(1)</external-xref>) is
amended by striking <quote>for a fiscal year</quote> and inserting <quote>for a
biennium</quote>.</text>
</paragraph><paragraph id="H8FA2C06CF690441393959B4E45A9411B"><enum>(7)</enum><header>Section
heading</header><text>The section heading of section 301 of such Act is amended
by striking <quote><header-in-text style="traditional">annual</header-in-text></quote> and inserting
<quote><header-in-text style="traditional">biennial</header-in-text></quote>.</text>
</paragraph><paragraph id="H8751ECF98177414FB2975D8BF153D63C"><enum>(8)</enum><header>Table of
contents</header><text>The item relating to section 301 in the table of
contents set forth in section 1(b) of such Act is amended by striking
<quote>Annual</quote> and inserting <quote>Biennial</quote>.</text>
</paragraph></subsection><subsection id="HB4E28B4646724DBD8862823BAC9B2B72"><enum>(d)</enum><header>Committee
Allocations</header><text>Section 302 of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/633">2 U.S.C. 633</external-xref>) is
amended—</text>
<paragraph id="H28C623B91427497DA713496EB14465D1"><enum>(1)</enum><text>in subsection
(a)(1) by—</text>
<subparagraph id="H65DA0B3C549D4196801654187468B6DA"><enum>(A)</enum><text>striking
<quote>for the first fiscal year of the resolution,</quote> and inserting
<quote>for each fiscal year in the biennium,</quote>;</text>
</subparagraph><subparagraph id="HCDB7D2875B92488BB0E0BFE9EAB3A069"><enum>(B)</enum><text>striking
<quote>for that period of fiscal years</quote> and inserting <quote>for all
fiscal years covered by the resolution</quote>; and</text>
</subparagraph><subparagraph id="H16E63C1CBCC743C095DAD6E0271DB74"><enum>(C)</enum><text>striking <quote>for
the fiscal year of that resolution</quote> and inserting <quote>for each fiscal
year in the biennium</quote>;</text>
</subparagraph></paragraph><paragraph id="HDA90256832D84A37A28DE013252309DF"><enum>(2)</enum><text>in subsection
(f)(1), by striking <quote>for a fiscal year</quote> and inserting <quote>for a
biennium</quote>;</text>
</paragraph><paragraph id="HABA3AA5D01994FD990A48B18B4817B4C"><enum>(3)</enum><text>in subsection
(f)(1), by striking <quote>first fiscal year</quote> and inserting
<quote>either fiscal year of the biennium</quote>;</text>
</paragraph><paragraph id="HA56F629A31484F48A51CCFFC9CDEFB12"><enum>(4)</enum><text>in subsection
(f)(2)(A), by—</text>
<subparagraph id="H35CFF5DD47A5410B8DBD55DFEDE5B0F"><enum>(A)</enum><text>striking
<quote>first fiscal year</quote> and inserting <quote>each fiscal year of the
biennium</quote>; and</text>
</subparagraph><subparagraph id="H30009F9A467B44789DE1F3F05F1DEBF0"><enum>(B)</enum><text>striking
<quote>the total of fiscal years</quote> and inserting <quote>the total of all
fiscal years covered by the resolution</quote>; and</text>
</subparagraph></paragraph><paragraph id="H964CCA0F984644AA85D2EE9F3C8423"><enum>(5)</enum><text>in
subsection (g)(1)(A), by striking <quote>April</quote> and inserting
<quote>May</quote>.</text>
</paragraph></subsection><subsection id="H667659714BAE4B9FB05572DD8F82A76E"><enum>(e)</enum><header>Section
<enum-in-header>303</enum-in-header> Point of Order</header><text>Section 303
of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/634">2 U.S.C. 634(a)</external-xref>) is amended by striking <quote>for a fiscal
year</quote> and inserting <quote>for a biennium</quote> and by striking
<quote>the first fiscal year</quote> and inserting <quote>each fiscal year of
the biennium</quote>.</text>
</subsection><subsection id="H4587CE3B8DDE4C50B4304EFF7B2C6723"><enum>(f)</enum><header>Permissible
Revisions of Joint Resolutions on the Budget</header><text>Section 304 of such
Act (<external-xref legal-doc="usc" parsable-cite="usc/2/635">2 U.S.C. 635</external-xref>) is amended—</text>
<paragraph id="HB7176B5782344A2094EEB8BFFFCEA9C7"><enum>(1)</enum><text>by striking
<quote>fiscal year</quote> the first two places it appears and inserting
<quote>biennium</quote>;</text>
</paragraph><paragraph id="HB6CB5A376301446C8C89ADA9254D8830"><enum>(2)</enum><text>by striking
<quote>for such fiscal year</quote>; and</text>
</paragraph><paragraph id="H973A91108C3547A688CC6FC9717F533D"><enum>(3)</enum><text>by inserting
before the period <quote>for such biennium</quote>.</text>
</paragraph></subsection><subsection id="H4DD1F9684F6C44F7ADC800569B052751"><enum>(g)</enum><header>Procedures for
Consideration of Budget Resolutions</header><text>Section 305(a)(3) of such Act
(<external-xref legal-doc="usc" parsable-cite="usc/2/636">2 U.S.C. 636(b)(3)</external-xref>) is amended by striking <quote>fiscal year</quote> and
inserting <quote>biennium</quote>.</text>
</subsection><subsection id="H169E94D35FA74BEABAFDAE32070666CE"><enum>(h)</enum><header>Completion of
House Committee Action on Appropriation Bills</header><text>Section 307 of such
Act (<external-xref legal-doc="usc" parsable-cite="usc/2/638">2 U.S.C. 638</external-xref>) is amended—</text>
<paragraph id="H82D6BFE25E644E5081509C05ECC30732"><enum>(1)</enum><text>by striking
<quote>each year</quote> and inserting <quote>each odd-numbered year (or, if
applicable, as provided by section 300(b), July 1)</quote>;</text>
</paragraph><paragraph id="H6981339CA6A149AAB747997F2195E4EC"><enum>(2)</enum><text>by striking
<quote>annual</quote> and inserting <quote>biennial</quote>;</text>
</paragraph><paragraph id="HB614F210F82847F288A8DAD869CB81FF"><enum>(3)</enum><text>by striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>; and</text>
</paragraph><paragraph id="H041F1D6834524D4E8089EFF7B007EBD"><enum>(4)</enum><text>by
striking <quote>that year</quote> and inserting <quote>each odd-numbered
year</quote>.</text>
</paragraph></subsection><subsection id="H1559B5822A5D4111B82E0632702DD91"><enum>(i)</enum><header>Quarterly Budget
Reports</header><text>Section 308 of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/639">2 U.S.C. 639</external-xref>) is amended by
adding at the end the following new subsection:</text>
<quoted-block id="HE9900CE3F9634533AC69903815FAB5E2" style="OLC">
<subsection id="H9BA96D3EF42C42EDB40132C288108735"><enum>(d)</enum><header>Quarterly Budget
Reports</header><text>The Director of the Congressional Budget Office shall, as
soon as practicable after the completion of each quarter of the fiscal year,
prepare an analysis comparing revenues, spending, and the deficit or surplus
for the current fiscal year to assumptions included in the congressional budget
resolution. In preparing this report, the Director of the Congressional Budget
Office shall combine actual budget figures to date with projected revenue and
spending for the balance of the fiscal year. The Director of the Congressional
Budget Office shall include any other information in this report that it deems
useful for a full understanding of the current fiscal position of the
Government. The reports mandated by this subsection shall be transmitted by the
Director to the Senate and House Committees on the Budget, and the
Congressional Budget Office shall make such reports available to any interested
party upon
request.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H51D679CA34BC4A5CA99FF0E4A37CC42F"><enum>(j)</enum><header>Completion of
House Action on Regular Appropriation Bills</header><text>Section 309 of such
Act (<external-xref legal-doc="usc" parsable-cite="usc/2/640">2 U.S.C. 640</external-xref>) is amended—</text>
<paragraph id="HB902C5BE74454E74BAE2C4CDC96B88E3"><enum>(1)</enum><text>by striking
<quote>It</quote> and inserting <quote>Except whenever section 300(b) is
applicable, it</quote>;</text>
</paragraph><paragraph id="HA56A63AB6A5F477D8ED745BE652CAA1"><enum>(2)</enum><text>by
inserting <quote>of any odd-numbered calendar year</quote> after
<quote>July</quote>;</text>
</paragraph><paragraph id="H068B9CBD73AA47B0B5DC1116AC8FB07F"><enum>(3)</enum><text>by striking
<quote>annual</quote> and inserting <quote>biennial</quote>; and</text>
</paragraph><paragraph id="HE9A100BE12A84261AA6C21BA82AC7F71"><enum>(4)</enum><text>by striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>.</text>
</paragraph></subsection><subsection id="HAFC3A0EB966C48E5B8CEAB67CCFD9602"><enum>(k)</enum><header>Reconciliation
Process</header><text>Section 310 of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/641">2 U.S.C. 641</external-xref>) is amended—</text>
<paragraph id="HCAC28FE5E18D4BB7A422F7904015614B"><enum>(1)</enum><text>in subsection (a),
in the matter preceding paragraph (1), by striking <quote>any fiscal
year</quote> and inserting <quote>any biennium</quote>;</text>
</paragraph><paragraph id="H1A424A29B789413D9B95849000001759"><enum>(2)</enum><text>in subsection
(a)(1), by striking <quote>such fiscal year</quote> each place it appears and
inserting <quote>any fiscal year covered by such resolution</quote>; and</text>
</paragraph><paragraph id="H0D2D0FAFA04C4C72A6E5F3FB73B34C7"><enum>(3)</enum><text>by
striking subsection (f) and redesignating subsection (g) as subsection
(f).</text>
</paragraph></subsection><subsection id="HC91A66EAA1504CA18589B6578BC03B28"><enum>(l)</enum><header>Section
<enum-in-header>311</enum-in-header> Point of Order</header>
<paragraph id="HBFFE551641384EF5B496323CB7328810"><enum>(1)</enum><header>In the
house</header><text>Section 311(a)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/642">2 U.S.C. 642(a)</external-xref>) is
amended—</text>
<subparagraph id="H50D40920268A4443AFBD6D99DF32CF5"><enum>(A)</enum><text>by striking
<quote>for a fiscal year</quote> and inserting <quote>for a
biennium</quote>;</text>
</subparagraph><subparagraph id="H2C0C37C14F06488484C7AC594E3CA0FB"><enum>(B)</enum><text>by striking
<quote>the first fiscal year</quote> each place it appears and inserting
<quote>either fiscal year of the biennium</quote>; and</text>
</subparagraph><subparagraph id="H3A4EB25969AA46A784B8A55EB170ECEB"><enum>(C)</enum><text>by striking
<quote>that first fiscal year</quote> and inserting <quote>each fiscal year in
the biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="H545D3C00BBAF40CD004583F4C7FB679"><enum>(2)</enum><header>In the
senate</header><text>Section 311(a)(2) of such Act is amended—</text>
<subparagraph id="H2F59A8E00EFB49079922EC17F700A451"><enum>(A)</enum><text>in subparagraph
(A), by striking <quote>for the first fiscal year</quote> and inserting
<quote>for either fiscal year of the biennium</quote>; and</text>
</subparagraph><subparagraph id="H465725D59E0B4B78B45940F4E3424629"><enum>(B)</enum><text>in subparagraph
(B)—</text>
<clause id="HDF758B57FDF74D3C9DC0FC9DFFDEC8C9"><enum>(i)</enum><text>by
striking <quote>that first fiscal year</quote> the first place it appears and
inserting <quote>each fiscal year in the biennium</quote>; and</text>
</clause><clause id="H618353D78454414AA440631968A18414"><enum>(ii)</enum><text>by
striking <quote>that first fiscal year and the ensuing fiscal years</quote> and
inserting <quote>all fiscal years</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="H02AD509DCF484808B000B5AD6D1B0534"><enum>(3)</enum><header>Social security
levels</header><text>Section 311(a)(3) of such Act is amended by—</text>
<subparagraph id="H7F841B5D80DE4D7694EB28BFDE8DCE8"><enum>(A)</enum><text>striking <quote>for
the first fiscal year</quote> and inserting <quote>each fiscal year in the
biennium</quote>; and</text>
</subparagraph><subparagraph id="HB23E9C7A87CB4023BC88CBBECCCE0351"><enum>(B)</enum><text>striking
<quote>that fiscal year and the ensuing fiscal years</quote> and inserting
<quote>all fiscal years</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H64F0C464985E4977BD95A8524D6362DF"><enum>(m)</enum><header>Maximum Deficit
Amount Point of Order</header><text>Section 312(c) of the Congressional Budget
Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/643">2 U.S.C. 643</external-xref>) is amended—</text>
<paragraph id="H489A3910ECD443728B553F0049E28CBE"><enum>(1)</enum><text>by striking
<quote>for a fiscal year</quote> and inserting <quote>for a
biennium</quote>;</text>
</paragraph><paragraph id="HB18B402710054D108CF545BF4817BF3"><enum>(2)</enum><text>in
paragraph (1), by striking <quote>first fiscal year</quote> and inserting
<quote>either fiscal year in the biennium</quote>;</text>
</paragraph><paragraph id="HE6027398C80C45898CDC1B69C67856E"><enum>(3)</enum><text>in
paragraph (2), by striking <quote>that fiscal year</quote> and inserting
<quote>either fiscal year in the biennium</quote>; and</text>
</paragraph><paragraph id="HCD2416E6B5AE47AF845E1CAD3285A000"><enum>(4)</enum><text>in the matter
following paragraph (2), by striking <quote>that fiscal year</quote> and
inserting <quote>the applicable fiscal year</quote>.</text>
</paragraph></subsection></section><section id="HBD46AA4806DD47CAB1944F4DABB44880"><enum>124.</enum><header>Amendments to
rules of the House of Representatives</header>
<subsection id="H73CDCE1EF72A40CD99E9A2E9C262E2B0"><enum>(a)</enum><text>Clause 4(a)(1)(A)
of rule X of the Rules of the House of Representatives is amended by inserting
<quote>odd-numbered</quote> after <quote>each</quote>.</text>
</subsection><subsection id="H0387B808972B4B4F99DA1244696F644C"><enum>(b)</enum><text>Clause 4(a)(4) of
rule X of the Rules of the House of Representatives is amended by striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>.</text>
</subsection><subsection id="H2C11D659D8BC4FA78495E6DE792DCC11"><enum>(c)</enum><text>Clause 4(b)(2) of
rule X of the Rules of the House of Representatives is amended by striking
<quote>each fiscal year</quote> and inserting <quote>the
biennium</quote>.</text>
</subsection><subsection id="H99CCA943F1BD4F81B07265B395F2844C"><enum>(d)</enum><text>Clause 4(b) of
rule X of the Rules of the House of Representatives is amended by striking
<quote>and</quote> at the end of subparagraph (5), by striking the period and
inserting <quote>; and</quote> at the end of subparagraph (6), and by adding at
the end the following new subparagraph:</text>
<quoted-block id="H7075F84EB0DF44CA926FAF2197FF5152" style="OLC">
<paragraph id="H02E8CCF8E9FC4B02AC17FC4B506E95F3"><enum>(7)</enum><text>use the second
session of each Congress to study issues with long-term budgetary and economic
implications, which would include—</text>
<subparagraph id="H45C6354AD2C044BF83163C84BE570085"><enum>(A)</enum><text>hold hearings to
receive testimony from committees of jurisdiction to identify problem areas and
to report on the results of oversight; and</text>
</subparagraph><subparagraph id="HF2A75629B6B1424DAAD8D1839CF52876"><enum>(B)</enum><text>by January 1 of
each odd-number year, issuing a report to the Speaker which identifies the key
issues facing the Congress in the next
biennium.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H2AE9A1BFCD0345D8A04397BEB6C9CD88"><enum>(e)</enum><text>Clause 4(e) of
rule X of the Rules of the House of Representatives is amended by striking
<quote>annually</quote> each place it appears and inserting
<quote>biennially</quote> and by striking <quote>annual</quote> and inserting
<quote>biennial</quote>.</text>
</subsection><subsection id="H12504BBFBE8247E9B1EDEA75FBCBFDE"><enum>(f)</enum><text>Clause 4(f) of rule
X of the Rules of the House of Representatives is amended—</text>
<paragraph id="H32D4C4CEB91549D2AA226ED0B27B0896"><enum>(1)</enum><text>by inserting
<quote>during each odd-numbered year</quote> after <quote>submits his
budget</quote>;</text>
</paragraph><paragraph id="HE3303E038AD94F65889765DFEA0828AA"><enum>(2)</enum><text>by striking
<quote>fiscal year</quote> the first place it appears and inserting
<quote>biennium</quote>; and</text>
</paragraph><paragraph id="HE1630E20699249A0A1DE1373836851A3"><enum>(3)</enum><text>by striking
<quote>that fiscal year</quote> and inserting <quote>each fiscal year in such
ensuing biennium</quote>.</text>
</paragraph></subsection><subsection id="H90D3D0E69FB64C91B794A300D8D469F5"><enum>(g)</enum><text>Clause 11(i) of
rule X of the Rules of the House of Representatives is amended by striking
<quote>during the same or preceding fiscal year</quote>.</text>
</subsection><subsection id="HEC77BBB4B837488A8D0299B697BAF500"><enum>(h)</enum><text>Clause 3(d)(2)(A)
of rule XIII of the Rules of the House of Representatives is amended by
striking <quote>five</quote> both places it appears and inserting
<quote>six</quote>.</text>
</subsection><subsection id="HA0D7A3AAA07F463E8F79DA008C8DE363"><enum>(i)</enum><text>Clause 5(a)(1) of
rule XIII of the Rules of the House of Representatives is amended by striking
<quote>fiscal year after September 15 in the preceding fiscal year</quote> and
inserting <quote>biennium after September 15 of the calendar year in which such
biennium begins</quote>.</text>
</subsection></section><section id="HCFC4A4D201E945A18D7F54E2CB565407"><enum>125.</enum><header>Amendments to
title <enum-in-header>31</enum-in-header>, United States Code</header>
<subsection id="HC0B6D4E494494BDA89746996E6A2BEE4"><enum>(a)</enum><header>Definition</header><text>Section
1101 of title 31, United States Code, is amended by adding at the end the
following new paragraph:</text>
<quoted-block id="HC2E815949D6A4960A034E534D567F7E9" style="OLC">
<paragraph id="HA9AF0AB81C3542C7929BDE0353D43F64"><enum>(3)</enum><text><term>biennium</term>
has the meaning given to such term in paragraph (13) of section 3 of the
Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C.
622(13)).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H4504981C51084CD08463384700CB3123"><enum>(b)</enum><header>Budget Contents
and Submission to the Congress</header>
<paragraph id="HB9576B8942C0402A913C626500E2CC49"><enum>(1)</enum><header>Schedule</header><text>The
matter preceding paragraph (1) in <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States
Code, is amended to read as follows:</text>
<quoted-block id="H22334CBA4CF541300064426E89A4E9AB" style="OLC">
<subsection id="HC592E6B91A1148B2AD9ECABF33009E75"><enum>(a)</enum><text>On or before the
first Monday in February of each odd-numbered year (or, if applicable, as
provided by section 300(b) of the Congressional Budget Act of 1974), beginning
with the One Hundred Tenth Congress or a subsequent Congress (as applicable),
the President shall submit to the Congress the budget for the biennium
beginning on October 1 of such calendar year. The budget transmitted under this
subsection shall include a budget message and summary and supporting
information. The President shall include in each budget the
following:</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HBE3798A1C9FD47EABD3B4334AD8E0445"><enum>(2)</enum><header>Expenditures</header><text>Section
1105(a)(5) of title 31, United States Code, is amended by striking <quote>the
fiscal year for which the budget is submitted and the 4 fiscal years after that
year</quote> and inserting <quote>each fiscal year in the biennium for which
the budget is submitted and in the succeeding 4 years</quote>.</text>
</paragraph><paragraph id="H3FA8446498504425AF154FE833D05F51"><enum>(3)</enum><header>Receipts</header><text>Section
1105(a)(6) of title 31, United States Code, is amended by striking <quote>the
fiscal year for which the budget is submitted and the 4 fiscal years after that
year</quote> and inserting <quote>each fiscal year in the biennium for which
the budget is submitted and in the succeeding 4 years</quote>.</text>
</paragraph><paragraph id="HC8F76D8E74B441168500D1BB4352228F"><enum>(4)</enum><header>Balance
statements</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(a)(9)(C)</external-xref> of title 31, United States Code,
is amended by striking <quote>the fiscal year</quote> and inserting <quote>each
fiscal year in the biennium</quote>.</text>
</paragraph><paragraph id="H0A3F671D36884B1DA7A412FD20D15880"><enum>(5)</enum><header>Government
functions and activities</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(a)(12)</external-xref> of title 31, United
States Code, is amended in subparagraph (A), by striking <quote>the fiscal
year</quote> and inserting <quote>each fiscal year in the
biennium</quote>.</text>
</paragraph><paragraph id="H671BA7EC33C24267A04485957335F9C9"><enum>(6)</enum><header>Allowances</header><text>Section
1105(a)(13) of title 31, United States Code, is amended by striking <quote>the
fiscal year</quote> and inserting <quote>each fiscal year in the
biennium</quote>.</text>
</paragraph><paragraph id="H7C566462BEE64AB490162F89ECFE17CA"><enum>(7)</enum><header>Allowances for
unanticipated and uncontrollable expenditures</header><text>Section 1105(a)(14)
of title 31, United States Code, is amended by striking <quote>that
year</quote> and inserting <quote>each fiscal year in the biennium for which
the budget is submitted</quote>.</text>
</paragraph><paragraph id="HE5525BDC157D4B9DA06CCFFE98C1F19E"><enum>(8)</enum><header>Tax
expenditures</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(a)(16)</external-xref> of title 31, United States Code,
is amended by striking <quote>the fiscal year</quote> and inserting <quote>each
fiscal year in the biennium</quote>.</text>
</paragraph><paragraph id="HF13213A500D5480DA8474FD58800E36E"><enum>(9)</enum><header>Estimates for
future years</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(a)(17)</external-xref> of title 31, United States Code,
is amended—</text>
<subparagraph id="H4E89A806B92F4517B66C88337C005ECB"><enum>(A)</enum><text>by striking
<quote>the fiscal year following the fiscal year</quote> and inserting
<quote>each fiscal year in the biennium following the biennium</quote>;</text>
</subparagraph><subparagraph id="HC6300877193B460F85BE5B77EB1E3446"><enum>(B)</enum><text>by striking
<quote>that following fiscal year</quote> and inserting <quote>each such fiscal
year</quote>; and</text>
</subparagraph><subparagraph id="HC3F0CF5E70004EB5A0760139E63CBB97"><enum>(C)</enum><text>by striking
<quote>fiscal year before the fiscal year</quote> and inserting <quote>biennium
before the biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="H91690F45608144F88B1FA2B394B6BBFF"><enum>(10)</enum><header>Prior year
outlays</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(a)(18)</external-xref> of title 31, United States Code, is
amended—</text>
<subparagraph id="H0307C97173E944E09100B4A520B93C2D"><enum>(A)</enum><text>by striking
<quote>the prior fiscal year,</quote> and inserting <quote>each of the 2 most
recently completed fiscal years,</quote>;</text>
</subparagraph><subparagraph id="H473D0713A0E045C89BAFAB37CEF2454D"><enum>(B)</enum><text>by striking
<quote>for that year</quote> and inserting <quote>with respect to those fiscal
years</quote>; and</text>
</subparagraph><subparagraph id="H8EEC3F9A190D4FF9B2EC9938E9AB164"><enum>(C)</enum><text>by striking
<quote>in that year</quote> and inserting <quote>in those fiscal
years</quote>.</text>
</subparagraph></paragraph><paragraph id="HADE122236FA24D83B55936578653F11"><enum>(11)</enum><header>Prior year
receipts</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(a)(19)</external-xref> of title 31, United States Code, is
amended—</text>
<subparagraph id="H604BBDF195334AEE83607E61F8350931"><enum>(A)</enum><text>by striking
<quote>the prior fiscal year</quote> and inserting <quote>each of the 2 most
recently completed fiscal years</quote>;</text>
</subparagraph><subparagraph id="HF29CB79A1F7A4A8297700028FFA3DE1B"><enum>(B)</enum><text>by striking
<quote>for that year</quote> and inserting <quote>with respect to those fiscal
years</quote>; and</text>
</subparagraph><subparagraph id="H7585922AA7A84F2BAC75AA780063E102"><enum>(C)</enum><text>by striking
<quote>in that year</quote> each place it appears and inserting <quote>in those
fiscal years</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H3CF53367A73D480492ED18FE5F8C7907"><enum>(c)</enum><header>Estimated
Expenditures of Legislative and Judicial Branches</header><text>Section 1105(b)
of title 31, United States Code, is amended by striking <quote>each
year</quote> and inserting <quote>each even-numbered year</quote>.</text>
</subsection><subsection id="H5C0C1DB2707243D0BB89D7BC1ECDBF00"><enum>(d)</enum><header>Recommendations
To Meet Estimated Deficiencies</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(c)</external-xref> of title 31,
United States Code, is amended—</text>
<paragraph id="H95FC0F79B0A640399C10D44FF72C4836"><enum>(1)</enum><text>by striking
<quote>the fiscal year for</quote> the first place it appears and inserting
<quote>each fiscal year in the biennium for</quote>;</text>
</paragraph><paragraph id="H9C6AB647859A4E31ADED6423E1D438AA"><enum>(2)</enum><text>by striking
<quote>the fiscal year for</quote> the second place it appears and inserting
<quote>each fiscal year of the biennium, as the case may be,</quote>;
and</text>
</paragraph><paragraph id="HD1B7930FD3364A1C9DC6F0C8FB2F97"><enum>(3)</enum><text>by
striking <quote>that year</quote> and inserting <quote>for each year of the
biennium</quote>.</text>
</paragraph></subsection><subsection id="HB9CCE17B590F4A098100D9BC01E87FB9"><enum>(e)</enum><header>Capital
Investment Analysis</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1105">Section 1105(e)(1)</external-xref> of title 31, United States
Code, is amended by striking <quote>ensuing fiscal year</quote> and inserting
<quote>biennium to which such budget relates</quote>.</text>
</subsection><subsection id="H67D0621939414D46A7E9007F33E435EB"><enum>(f)</enum><header>Supplemental
Budget Estimates and Changes</header>
<paragraph id="H9E76B14F345B47A683D41822383B00A7"><enum>(1)</enum><header>In
general</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1106">Section 1106(a)</external-xref> of title 31, United States Code, is
amended—</text>
<subparagraph id="HBC00F6E8091B4D39ABF7046CD730F58D"><enum>(A)</enum><text>in the matter
preceding paragraph (1), by—</text>
<clause id="H960E64F516234FF68981CE008E73DE8B"><enum>(i)</enum><text>inserting
<quote>and before February 15 of each even-numbered year</quote> after
<quote>Before July 16 of each year</quote>; and</text>
</clause><clause id="HC67E981DCBFD4BC6B3E3D9E88EF4A1AB"><enum>(ii)</enum><text>striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>;</text>
</clause></subparagraph><subparagraph id="HD01F47F155874724A32C270795EB4BC2"><enum>(B)</enum><text>in paragraph (1),
by striking <quote>that fiscal year</quote> and inserting <quote>each fiscal
year in such biennium</quote>;</text>
</subparagraph><subparagraph id="HF467CF6767794A69B535A000E622C5D9"><enum>(C)</enum><text>in paragraph (2),
by striking <quote>4 fiscal years following the fiscal year</quote> and
inserting <quote>4 fiscal years following the biennium</quote>; and</text>
</subparagraph><subparagraph id="HCB679A3CAE674DFF9758F63C83BA765C"><enum>(D)</enum><text>in paragraph (3),
by striking <quote>fiscal year</quote> and inserting
<quote>biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="HD9EDA9EFBA8340C29B0018A86FB63356"><enum>(2)</enum><header>Changes</header><text>Section
1106(b) of title 31, United States Code, is amended by—</text>
<subparagraph id="H7EDD6782BB004F608373086700D8DCF7"><enum>(A)</enum><text>striking
<quote>the fiscal year</quote> and inserting <quote>each fiscal year in the
biennium</quote>; and</text>
</subparagraph><subparagraph id="H15E69E7E03514B66A937089F74FDACC"><enum>(B)</enum><text>inserting
<quote>and before February 15 of each even-numbered year</quote> after
<quote>Before July 16 of each year</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H089F97B4082C4D5C80BCE6B700A12E8E"><enum>(g)</enum><header>Current Programs
and Activities Estimates</header>
<paragraph id="H1ADD4EBC521B447AB2CC67F14C00ACC4"><enum>(1)</enum><header>The
president</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1109">Section 1109(a)</external-xref> of title 31, United States Code, is
amended—</text>
<subparagraph id="H216435C5517A4B199009487F36675FCE"><enum>(A)</enum><text>by striking
<quote>On or before the first Monday after January 3 of each year (on or before
February 5 in 1986)</quote> and inserting <quote>At the same time the budget
required by section 1105 is submitted for a biennium</quote>; and</text>
</subparagraph><subparagraph id="HD17D9012756642AC919F29A700BC46F5"><enum>(B)</enum><text>by striking
<quote>the following fiscal year</quote> and inserting <quote>each fiscal year
of such period</quote>.</text>
</subparagraph></paragraph><paragraph id="H15334E20620C419BB5EC89D4089F6B97"><enum>(2)</enum><header>Joint economic
committee</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1109">Section 1109(b)</external-xref> of title 31, United States Code, is
amended by striking <quote>March 1 of each year</quote> and inserting
<quote>within 6 weeks of the President’s budget submission for each
odd-numbered year (or, if applicable, as provided by section 300(b) of the
Congressional Budget Act of 1974)</quote>.</text>
</paragraph></subsection><subsection id="H38AF50A36E304EEFBDFFD800DFA93BC0"><enum>(h)</enum><header>Year-Ahead
Requests for Authorizing Legislation</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1110">Section 1110</external-xref> of title 31,
United States Code, is amended by—</text>
<paragraph id="H90168A2C8A054900B57D701BD704EB99"><enum>(1)</enum><text>striking
<quote>May 16</quote> and inserting <quote>March 31</quote>; and</text>
</paragraph><paragraph id="HCDFA85E2755C4CAD8B044E6D059E6971"><enum>(2)</enum><text>striking
<quote>year before the year in which the fiscal year begins</quote> and
inserting <quote>calendar year preceding the calendar year in which the
biennium begins</quote>.</text>
</paragraph></subsection></section><section id="HA72112AEBE9449209D69ACB37FA5EF81"><enum>126.</enum><header>Two-year
appropriations; title and style of appropriation Acts</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/1/105">Section 105</external-xref> of title 1, United States Code,
is amended to read as follows:</text>
<quoted-block id="H50255D83CFA64EA900529405101BA06B" style="USC">
<section id="HC1FF0F44152A42049651B2FBFA6031C7"><enum>105.</enum><header>Title and style
of appropriations Acts</header>
<subsection id="HECD452CFC69643F4BC16A9AAA2A2A250"><enum>(a)</enum><text>The style and
title of all Acts making appropriations for the support of the Government shall
be as follows: <quote>An Act making appropriations (here insert the object) for
each fiscal year in the biennium of fiscal years (here insert the fiscal years
of the biennium).</quote>.</text>
</subsection><subsection id="HFDE6CD8D63B3410BAE61B6C9B2AEB9C"><enum>(b)</enum><text>All Acts making
regular appropriations for the support of the Government shall be enacted for a
biennium and shall specify the amount of appropriations provided for each
fiscal year in such period.</text>
</subsection><subsection id="HA27030195F0A41B3A285FF66618E1EC"><enum>(c)</enum><text>For purposes of
this section, the term <term>biennium</term> has the same meaning as in section
3(13) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C.
622(13)).</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="HD00217C534EB46F58B914CFA5F28C5B"><enum>127.</enum><header>Multiyear
authorizations</header>
<subsection id="HB27F5008C03F4AFA937C6DCFA569CA1B"><enum>(a)</enum><header>In
General</header><text>Title III of the Congressional Budget Act of 1974 (as
amended by section 116(a)) is further amended by adding at the end the
following new section:</text>
<quoted-block id="HA3B858D2097A4752BC4DA8E3B20075C9" style="traditional">
<section id="H67F9615E73F7464394B9832BD349112C"><enum>318.</enum><header>Multiyear authorizations of
appropriations</header><subsection commented="no" display-inline="yes-display-inline" id="H9338D0E2D0484B63B461EC3B075BE425"><enum>(a)</enum><text>It shall not be in order
in the House of Representatives or the Senate to consider any measure that
contains a specific authorization of appropriations for any purpose unless the
measure includes such a specific authorization of appropriations for that
purpose for not less than each fiscal year in one or more bienniums.</text>
</subsection><subsection id="HCEFBA68BC0FB45E59896D3749683B480"><enum>(b)</enum><paragraph commented="no" display-inline="yes-display-inline" id="H6170994E641849858CF9004D6F7EA4DD"><enum>(1)</enum><text>For purposes of this
section, a specific authorization of appropriations is an authorization for the
enactment of an amount of appropriations or amounts not to exceed an amount of
appropriations (whether stated as a sum certain, as a limit, or as such sums as
may be necessary) for any purpose for a fiscal year.</text>
</paragraph><paragraph id="H0F3B875E752942F2B74CF4B148284C9E" indent="up1"><enum>(2)</enum><text>Subsection (a) does not apply with
respect to an authorization of appropriations for a single fiscal year for any
program, project, or activity if the measure containing that authorization
includes a provision expressly stating the following: <quote>Congress finds
that no authorization of appropriation will be required for [Insert name of
applicable program, project, or activity] for any subsequent fiscal
year.</quote>.</text>
</paragraph></subsection><subsection id="H76AE1F73D9AB4D4D8724BD53C4DD2731"><enum>(c)</enum><text>For purposes of
this section, the term <term>measure</term> means a bill, joint resolution,
amendment, motion, or conference
report.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HC91EFCACAD35432E00091F473C3EDFFF"><enum>(b)</enum><header>Amendment to
Table of Contents</header><text>The table of contents set forth in section 1(b)
of the Congressional Budget and Impoundment Control Act of 1974 is amended by
adding after the item relating to section 317 the following new item:</text>
<quoted-block id="HB09B06C774F74F9A91ADDA436DD87651" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 318. Multiyear authorizations of
appropriations.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="HDAD1D7774F0442EC948C302CAB2616B"><enum>128.</enum><header>Government
strategic and performance plans on a biennial basis</header>
<subsection id="H98C898CA75824756948B72D62910DF37"><enum>(a)</enum><header>Strategic
Plans</header><text><external-xref legal-doc="usc" parsable-cite="usc/5/306">Section 306</external-xref> of title 5, United States Code, is
amended—</text>
<paragraph id="H343588519C0B43FD8397A95D909E00F5"><enum>(1)</enum><text>in subsection (a),
by striking <quote>September 30, 1997</quote> and inserting <quote>September
30, 2009</quote>;</text>
</paragraph><paragraph id="H61BF0B8658DD44A482FD203177A55EDE"><enum>(2)</enum><text>in subsection
(b)—</text>
<subparagraph id="HFA9AECF6D5DE43D4AA18CF591C68481F"><enum>(A)</enum><text>by striking
<quote>at least every three years</quote> and all that follows thereafter and
inserting <quote>at least every 4 years, except that strategic plans submitted
by September 30, 2009, shall be updated and revised by September 30,
2012</quote>; and</text>
</subparagraph><subparagraph id="HF23EFD263EBC4FCBB9EA03B340B138B9"><enum>(B)</enum><text>by striking
<quote>five years forward</quote> and inserting <quote>six years
forward</quote>; and</text>
</subparagraph></paragraph><paragraph id="H3808D2E9719D4DB6AFAD8B10AA336800"><enum>(3)</enum><text>in subsection (c),
by inserting a comma after <quote>section</quote> the second place it appears
and adding <quote>including a strategic plan submitted by September 30, 2009,
meeting the requirements of subsection (a)</quote>.</text>
</paragraph></subsection><subsection id="H57222143081141C0B9A7CCEA006CCAB7"><enum>(b)</enum><header>Budget Contents
and Submission to Congress</header><text>Paragraph (28) of section 1105(a) of
title 31, United States Code, is amended by striking <quote>beginning with
fiscal year 1999, a</quote> and inserting <quote>beginning with fiscal year
2012, a biennial</quote>.</text>
</subsection><subsection id="HDA94910832D24F58BD52B83807781DE5"><enum>(c)</enum><header>Performance
Plans</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/1115">Section 1115</external-xref> of title 31, United States Code, is
amended—</text>
<paragraph id="H0747D9711B344E3FA1005CFF226E3526"><enum>(1)</enum><text>in subsection
(a)—</text>
<subparagraph id="H83FF6ECE6DD24836BCBC23A3005350CA"><enum>(A)</enum><text>in the matter
before paragraph (1) by striking <quote>an annual</quote> and inserting
<quote>a biennial</quote>;</text>
</subparagraph><subparagraph id="H83CF62C498054A03AF86471D02B440B1"><enum>(B)</enum><text>in paragraph (1)
by inserting after <quote>program activity</quote> the following: <quote>for
both years 1 and 2 of the biennial plan</quote>;</text>
</subparagraph><subparagraph id="HF8EF9006C75A4DD4A7B3BC9053D1F9E6"><enum>(C)</enum><text>in paragraph (5)
by striking <quote>and</quote> after the semicolon;</text>
</subparagraph><subparagraph id="H4907363FE96C47CFBDA0057108CD7F36"><enum>(D)</enum><text>in paragraph (6)
by striking the period and inserting a semicolon; and inserting
<quote>and</quote> after the inserted semicolon; and</text>
</subparagraph><subparagraph id="H18C6EE91DC3645CDAF2F6FEB5D29BF53"><enum>(E)</enum><text>by adding after
paragraph (6) the following:</text>
<quoted-block id="H887CF8BB0BB5402787419456E02EF1F6" style="OLC">
<paragraph id="HE92CA7255BEB4D519F7F831558FE91B8"><enum>(7)</enum><text>cover each fiscal
year of the biennium beginning with the first fiscal year of the next biennial
budget
cycle.</text>
</paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="H9E621F80D90F4C3F854EA6F6F4006F37"><enum>(2)</enum><text>in subsection (d)
by striking <quote>annual</quote> and inserting <quote>biennial</quote>;
and</text>
</paragraph><paragraph id="H385B233DE8F34E0F9D58A8FE188336C"><enum>(3)</enum><text>in
paragraph (6) of subsection (g) by striking <quote>annual</quote> and inserting
<quote>biennial</quote>.</text>
</paragraph></subsection><subsection id="H249FA02BBA464D2F96F300CD33CE2D47"><enum>(d)</enum><header>Managerial
Accountability and Flexibility</header><text><external-xref legal-doc="usc" parsable-cite="usc/31/9703">Section 9703</external-xref> of title 31, United
States Code, relating to managerial accountability, is amended—</text>
<paragraph id="HB160E296D5F343D6BA60D5F4005C4623"><enum>(1)</enum><text>in subsection
(a)—</text>
<subparagraph id="HCD3AED65E64543B4804DEB5F92CFFF57"><enum>(A)</enum><text>in the first
sentence by striking <quote>annual</quote>; and</text>
</subparagraph><subparagraph id="HC93169470930416EAEB907D3DD5B9BB"><enum>(B)</enum><text>by striking
<quote>section 1105(a)(29)</quote> and inserting <quote>section
1105(a)(28)</quote>;</text>
</subparagraph></paragraph><paragraph id="HD62A5D61A285424B9F7BB901D872298F"><enum>(2)</enum><text>in subsection
(e)—</text>
<subparagraph id="H3315F1D449254A00B85D440191C821B3"><enum>(A)</enum><text>in the first
sentence by striking <quote>one or</quote> before <quote>two
years</quote>;</text>
</subparagraph><subparagraph id="H5955AEA0FD09439B95919DDF243E0020"><enum>(B)</enum><text>in the second
sentence by striking <quote>a subsequent year</quote> and inserting <quote>for
a subsequent 2-year period</quote>; and</text>
</subparagraph><subparagraph id="H249BCFCE35974B289247BD97F798F6B0"><enum>(C)</enum><text>in the third
sentence by striking <quote>three</quote> and inserting
<quote>four</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H9EDB8C99377C4E84A45311201D8CFEA5"><enum>(e)</enum><header>Strategic
Plans</header><text><external-xref legal-doc="usc" parsable-cite="usc/39/2802">Section 2802</external-xref> of title 39, United States Code, is
amended—</text>
<paragraph id="H9B3FB7499F694CAFB9FCE01D8403A92D"><enum>(1)</enum><text>in subsection (a),
by striking <quote>September 30, 1997</quote> and inserting <quote>September
30, 2009</quote>;</text>
</paragraph><paragraph id="H38D0E22CED634DE2A5B4341CF2A62B35"><enum>(2)</enum><text>in subsection (b),
by striking <quote>at least every three years</quote> and inserting <quote>at
least every 4 years except that strategic plans submitted by September 30,
2009, shall be updated and revised by September 30, 2012</quote>;</text>
</paragraph><paragraph id="H918DACC28C6E4FB4A383EADFDDC03F2"><enum>(3)</enum><text>in
subsection (b), by striking <quote>five years forward</quote> and inserting
<quote>six years forward</quote>; and</text>
</paragraph><paragraph id="H4DFC01D66C9D4EB7984B5679C8DA009C"><enum>(4)</enum><text>in subsection (c),
by inserting a comma after <quote>section</quote> the second place it appears
and inserting <quote>including a strategic plan submitted by September 30,
2009, meeting the requirements of subsection (a)</quote>.</text>
</paragraph></subsection><subsection id="H2218F7D73C0844C2AA61891D1D006429"><enum>(f)</enum><header>Performance
Plans</header><text><external-xref legal-doc="usc" parsable-cite="usc/39/2803">Section 2803(a)</external-xref> of title 39, United States Code, is
amended—</text>
<paragraph id="H317F8ED4BF96465BA6C090A500A4198E"><enum>(1)</enum><text>in the matter
before paragraph (1), by striking <quote>an annual</quote> and inserting
<quote>a biennial</quote>;</text>
</paragraph><paragraph id="HC48FD227F26945A4823D2DE075004B5F"><enum>(2)</enum><text>in paragraph (1),
by inserting after <quote>program activity</quote> the following: <quote>for
both years 1 and 2 of the biennial plan</quote>;</text>
</paragraph><paragraph id="HEB86BF170EB443A4AE81A44255B728A3"><enum>(3)</enum><text>in paragraph (5),
by striking <quote>and</quote> after the semicolon;</text>
</paragraph><paragraph id="H9BCD838FA9984EFCB2A4925EF12B2889"><enum>(4)</enum><text>in paragraph (6),
by striking the period and inserting <quote>; and</quote>; and</text>
</paragraph><paragraph id="H63D56A2F56F0438CB33D3472CCF8111E"><enum>(5)</enum><text>by adding after
paragraph (6) the following:</text>
<quoted-block id="HDFA0F3181AC548E20076FF72F9007100" style="OLC">
<paragraph id="HC3EFFEE5F4DF42BB87DD798FB9003569"><enum>(7)</enum><text>cover each fiscal
year of the biennium beginning with the first fiscal year of the next biennial
budget
cycle.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H37B71CC7BC7343D69B760064FC6CAE9C"><enum>(g)</enum><header>Committee Views
of Plans and Reports</header><text>Section 301(d) of the Congressional Budget
Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632">2 U.S.C. 632(d)</external-xref>) is amended by adding at the end <quote>Each committee of
the Senate or the House of Representatives shall review the strategic plans,
performance plans, and performance reports, required under section 306 of title
5, United States Code, and sections <external-xref legal-doc="usc" parsable-cite="usc/31/1115">1115</external-xref> and <external-xref legal-doc="usc" parsable-cite="usc/31/1116">1116</external-xref> of title 31, United States
Code, of all agencies under the jurisdiction of the committee. Each committee
may provide its views on such plans or reports to the Committee on the Budget
of the applicable House.</quote>.</text>
</subsection></section><section id="HB0C98015266F413D92CA242C31E09FE1"><enum>129.</enum><header>Biennial
appropriation bills</header>
<subsection id="HF22A27B5D97C40C69EFBB7443B00C384"><enum>(a)</enum><header>In the House of
Representatives</header><text>Clause 2(a) of rule XXI of the Rules of the House
of Representatives is amended by adding at the end the following new
subparagraph:</text>
<quoted-block id="H41E7C908343446079440B989F7E1717" style="OLC">
<paragraph id="H90E7603D020A47679BF0C60041E506E4" indent="up1"><enum>(3)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H2F110F2803FB4D2886A93CC83267EE48"><enum>(A)</enum><text>Except as provided by
subdivision (B), an appropriation may not be reported in a general
appropriation bill (other than a supplemental appropriation bill), and may not
be in order as an amendment thereto, unless it provides new budget authority or
establishes a level of obligations under contract authority for each fiscal
year of a biennium.</text>
</subparagraph><subparagraph id="H16CA10CEFA8342AD9E8EF8B3B5652979" indent="up1"><enum>(B)</enum><text>Subdivision (A) does not apply with
respect to an appropriation for a single fiscal year for any program, project,
or activity if the bill or amendment thereto containing that appropriation
includes a provision expressly stating the following: <quote>Congress finds
that no additional funding beyond one fiscal year will be required and the
[Insert name of applicable program, project, or activity] will be completed or
terminated after the amount provided has been expended.</quote>.</text>
</subparagraph><subparagraph id="H06C30983D4634B13BAB0CFBF56225532" indent="up1"><enum>(C)</enum><text>For purposes of paragraph (b), the
statement set forth in subdivision (B) with respect to an appropriation for a
single fiscal year for any program, project, or activity may be included in a
general appropriation bill or amendment
thereto.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H5A5653A43B5D4F9D97F35643F513747"><enum>(b)</enum><header>Conforming
Amendment</header><text>Clause 5(b)(1) of rule XXII of the House of
Representatives is amended by striking <quote>or (c)</quote> and inserting
<quote>or (3) or 2(c)</quote>.</text>
</subsection></section><section id="H5E8DB76C9F70456BB54F6B499422B7BA"><enum>130.</enum><header>Assistance by
Federal agencies to standing committees of the Senate and the House of
Representatives</header>
<subsection id="H361D46533C844787873EDF9534520429"><enum>(a)</enum><header>Information
Regarding Agency Appropriations Requests</header><text>To assist each standing
committee of the House of Representatives and the Senate in carrying out its
responsibilities, the head of each Federal agency which administers the laws or
parts of laws under the jurisdiction of such committee shall provide to such
committee such studies, information, analyses, reports, and assistance as may
be requested by the chairman and ranking minority member of the
committee.</text>
</subsection><subsection id="HFDF9473DBD9F4BB9977C2CE2AAD1CEBD"><enum>(b)</enum><header>Information
Regarding Agency Program Administration</header><text>To assist each standing
committee of the House of Representatives and the Senate in carrying out its
responsibilities, the head of any agency shall furnish to such committee
documentation, containing information received, compiled, or maintained by the
agency as part of the operation or administration of a program, or specifically
compiled pursuant to a request in support of a review of a program, as may be
requested by the chairman and ranking minority member of such committee.</text>
</subsection><subsection id="H94F0A8E533114EE48531D9C4A98C41FC"><enum>(c)</enum><header>Summaries by
Comptroller General</header><text>Within thirty days after the receipt of a
request from a chairman and ranking minority member of a standing committee
having jurisdiction over a program being reviewed and studied by such committee
under this section, the Comptroller General of the United States shall furnish
to such committee summaries of any audits or reviews of such program which the
Comptroller General has completed during the preceding six years.</text>
</subsection><subsection id="H6EA71DD33F0B442699AE62553EA3125"><enum>(d)</enum><header>Congressional
Assistance</header><text>Consistent with their duties and functions under law,
the Comptroller General of the United States, the Director of the Congressional
Budget Office, and the Director of the Congressional Research Service shall
continue to furnish (consistent with established protocols) to each standing
committee of the House of Representatives or the Senate such information,
studies, analyses, and reports as the chairman and ranking minority member may
request to assist the committee in conducting reviews and studies of programs
under this section.</text>
</subsection></section></subtitle><subtitle id="HCF7828E8B8234C1E8B3919E4EBFD3612"><enum>D</enum><header>Prevention of
Government Shutdown</header>
<section id="HE4B010F6BB18476D9E34D1A628453006"><enum>141.</enum><header>Amendment to
title <enum-in-header>31</enum-in-header></header>
<subsection id="H072062423FC448AA86DDD72F2314FBEB"><enum>(a)</enum><header>In
General</header><text><external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/31/13">Chapter 13</external-xref> of title 31, United States Code, is amended by
inserting after section 1310 the following new section:</text>
<quoted-block id="HFCABC38BDED447D9A2AA62AFF72CE72F" style="USC">
<section id="HDEE522474860474EBA6F48D77DACEFCA"><enum>1311.</enum><header>Continuing
appropriations</header>
<subsection id="HAF62F602D72644E49B8D00CD6E4F7C18"><enum>(a)</enum><paragraph commented="no" display-inline="yes-display-inline" id="H653B13B5F63244FB8395DE5DC900F3DC"><enum>(1)</enum><text>If any regular
appropriation bill for a fiscal year (or, if applicable, for each fiscal year
in a biennium) does not become law before the beginning of such fiscal year or
a joint resolution making continuing appropriations is not in effect, there are
appropriated, out of any money in the Treasury not otherwise appropriated, and
out of applicable corporate or other revenues, receipts, and funds, such sums
as may be necessary to continue any project or activity for which funds were
provided in the preceding fiscal year—</text>
<subparagraph id="HCFCDF5536EA1408C004F55599B00464D" indent="up1"><enum>(A)</enum><text>in the corresponding regular
appropriation Act for such preceding fiscal year; or</text>
</subparagraph><subparagraph id="HBB8503BDF9124318AFDB95E86DBE3B38" indent="up1"><enum>(B)</enum><text>if the corresponding regular
appropriation bill for such preceding fiscal year did not become law, then in a
joint resolution making continuing appropriations for such preceding fiscal
year.</text>
</subparagraph></paragraph><paragraph id="HF471451474A24BD5ABA7D93049399D64" indent="up1"><enum>(2)</enum><text>Appropriations and funds made
available, and authority granted, for a project or activity for any fiscal year
pursuant to this section shall be at a rate of operations not in excess of the
lower of—</text>
<subparagraph id="HC3F3229BA06E4FCD8B7E4B5BC94B86C"><enum>(A)</enum><text>the rate of operations provided for in
the regular appropriation Act providing for such project or activity for the
preceding fiscal year;</text>
</subparagraph><subparagraph id="H43388284386248A2AEA9DCDE65826F7"><enum>(B)</enum><text>in the absence of such an Act, the
rate of operations provided for such project or activity pursuant to a joint
resolution making continuing appropriations for such preceding fiscal
year;</text>
</subparagraph><subparagraph id="H11537869A99C44E0AEF9A1177EEF3F93"><enum>(C)</enum><text>the rate of operations provided for in
the regular appropriation bill as passed by the House of Representatives or the
Senate for the fiscal year in question, except that the lower of these two
versions shall be ignored for any project or activity for which there is a
budget request if no funding is provided for that project or activity in either
version; or</text>
</subparagraph><subparagraph id="H4F29933397EE40CE8E454568A3734B2C"><enum>(D)</enum><text>the annualized rate of operations
provided for in the most recently enacted joint resolution making continuing
appropriations for part of that fiscal year or any funding levels established
under the provisions of this Act.</text>
</subparagraph></paragraph><paragraph id="H1BB0F35BAADE4E44B564C82672CF026" indent="up1"><enum>(3)</enum><text>Appropriations and funds made
available, and authority granted, for any fiscal year pursuant to this section
for a project or activity shall be available for the period beginning with the
first day of a lapse in appropriations and ending with the earlier of—</text>
<subparagraph id="HA459C099FB2B442C9D0007BB58EC9352"><enum>(A)</enum><text>the date on which the applicable
regular appropriation bill for such fiscal year becomes law (whether or not
such law provides for such project or activity) or a continuing resolution
making appropriations becomes law, as the case may be; or</text>
</subparagraph><subparagraph id="H6DE47E06CB5E4EEAA368BFBE865483B2"><enum>(B)</enum><text>the last day of such fiscal
year.</text>
</subparagraph></paragraph></subsection><subsection id="H61F460B450B64575B2C68777F5ED536C"><enum>(b)</enum><text>An appropriation
or funds made available, or authority granted, for a project or activity for
any fiscal year pursuant to this section shall be subject to the terms and
conditions imposed with respect to the appropriation made or funds made
available for the preceding fiscal year, or authority granted for such project
or activity under current law.</text>
</subsection><subsection id="HA9A541237D244344A1D662982872BA24"><enum>(c)</enum><text>Appropriations and
funds made available, and authority granted, for any project or activity for
any fiscal year pursuant to this section shall cover all obligations or
expenditures incurred for such project or activity during the portion of such
fiscal year for which this section applies to such project or activity.</text>
</subsection><subsection id="H0F60EB3E6DF04D62889CB200FB38946D"><enum>(d)</enum><text>Expenditures made
for a project or activity for any fiscal year pursuant to this section shall be
charged to the applicable appropriation, fund, or authorization whenever a
regular appropriation bill or a joint resolution making continuing
appropriations until the end of a fiscal year providing for such project or
activity for such period becomes law.</text>
</subsection><subsection id="H27AD15023DFA45B6AA26780848CDF67E"><enum>(e)</enum><text>This section shall
not apply to a project or activity during a fiscal year if any other provision
of law (other than an authorization of appropriations)—</text>
<paragraph id="H2209CE14E47C4067A1171B9B0037C003"><enum>(1)</enum><text>makes an
appropriation, makes funds available, or grants authority for such project or
activity to continue for such period; or</text>
</paragraph><paragraph id="H939A093F4E3D4C8BA0D79D7995007B71"><enum>(2)</enum><text>specifically
provides that no appropriation shall be made, no funds shall be made available,
or no authority shall be granted for such project or activity to continue for
such period.</text>
</paragraph></subsection><subsection id="HC98D45A716F44F45ADBAA361A1148BCA"><enum>(f)</enum><text>For purposes of
this section, the term <term>regular appropriation bill</term> means any annual
appropriation bill making appropriations, otherwise making funds available, or
granting authority, for any of the following categories of projects and
activities:</text>
<paragraph id="H1FF031865F8A40AB8DEC88F5E4A03DCE"><enum>(1)</enum><text>Agriculture, rural
development, Food and Drug Administration, and related agencies
programs.</text>
</paragraph><paragraph id="H17B77406DAC44BFA9DF9CFC31E00676D"><enum>(2)</enum><text>The Department of
Defense.</text>
</paragraph><paragraph id="HC546BA239D8B4004A9E9BDC30BDBC48"><enum>(3)</enum><text>Energy and water
development, and related agencies.</text>
</paragraph><paragraph id="HA66AA0BB7C944E7FA457B7CD0FD9FAD"><enum>(4)</enum><text>State, foreign
operations, and related programs.</text>
</paragraph><paragraph id="H24D91C38BC084EC7A3C800394D5F733B"><enum>(5)</enum><text>The Department of
Homeland Security.</text>
</paragraph><paragraph id="HFF6DBDD931CE4025AD4CCFC2E96FB2C5"><enum>(6)</enum><text>The Department of
the Interior, Environmental Protection Agency, and related agencies.</text>
</paragraph><paragraph id="H57D196CFB4FD4F3B9652F48ED81F08F0"><enum>(7)</enum><text>The Departments of
Labor, Health and Human Services, and Education, and related agencies.</text>
</paragraph><paragraph id="H32557921B74D40A9B2684F41009C03A6"><enum>(8)</enum><text>Military
construction, veterans affairs, and related agencies.</text>
</paragraph><paragraph id="H1B2C5BFBC30C4E9A804866F0194C47A6"><enum>(9)</enum><text>Science, the
Departments of State, Justice, and Commerce, and related agencies.</text>
</paragraph><paragraph id="H492BC8A6B0B14F749F7FC398B47EAD4D"><enum>(10)</enum><text>The Departments
of Transportation, Housing and Urban Development, and related agencies.</text>
</paragraph><paragraph id="HCB71BE926EB64ADDAA0976EAC3C89EA1"><enum>(11)</enum><text>The Legislative
Branch.</text>
</paragraph><paragraph id="HD79E5DE218C1490CAFD6843B19F1CB83"><enum>(12)</enum><text>Financial
services and general
government.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H62AB412985C64D719D9341C6CA43FAC1"><enum>(b)</enum><header>Clerical
Amendment</header><text>The analysis of <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/31/13">chapter 13</external-xref> of title 31, United States
Code, is amended by inserting after the item relating to section 1310 the
following new item:</text>
<quoted-block id="HA85569454D284856BA5F6BA06F8DB09B" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">1311. Continuing
appropriations.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="H9C37754E62BE4FADAC78F95409416220"><enum>E</enum><header>The
Baseline</header>
<section id="H39A60EBC7FEE473682A75151A26DBCE3"><enum>151.</enum><header>Elimination of
inflation adjustment</header><text display-inline="no-display-inline">Section
257(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 is
amended—</text>
<paragraph id="H6FACE72E70AE4D85A4598E4216696B1B"><enum>(1)</enum><text>in paragraph (1)
by striking <quote>for inflation as specified in paragraph (5),</quote>;
and</text>
</paragraph><paragraph id="H3EC881D66D1F4314AB1E50613D00E00"><enum>(2)</enum><text>by
striking paragraph (5) and redesignating paragraph (6) as paragraph (5).</text>
</paragraph></section><section id="H1358C9C112204726AEF6E5753127200"><enum>152.</enum><header>The President’s
budget</header>
<subsection id="H55370339FE3B4049A072E5579F2E4A4"><enum>(a)</enum><text>Paragraph (5) of
<external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code, is amended to read as
follows:</text>
<quoted-block id="H7333FC2E659C4E26951E46B821B1153B" style="OLC">
<paragraph id="HD58DBE21DC0A47D4B462BF9F00A65798"><enum>(5)</enum><text>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.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H95910EBA2A2D4D02A5F4D83DCF764CEE"><enum>(b)</enum><text>Section 1105(a)(6)
of title 31, United States Code, is amended to read as follows:</text>
<quoted-block id="HB9062748906943D7B2BFB457BBF94851" style="OLC">
<paragraph id="H0081FC3F4BD645D1AA9351FDD5B023D9"><enum>(6)</enum><text>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—</text>
<subparagraph id="HF5477FD8494144A9B2E5393900CC1169"><enum>(A)</enum><text>laws in effect
when the budget is submitted; and</text>
</subparagraph><subparagraph id="H55205B7E6DCE4844BF883000DD546393"><enum>(B)</enum><text>proposals in the
budget to increase revenues,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">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.</continuation-text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HCB19D7033FFC434D9B07CD558B51AA85"><enum>(c)</enum><text>Section
1105(a)(12) of title 31, United States Code, is amended to read as
follows:</text>
<quoted-block id="H56567ACAE8384D0599A49C7392373D81" style="OLC">
<paragraph id="H92E57BFD076F439AAD1694FDE4435DFB"><enum>(12)</enum><text>for each proposal
in the budget for legislation that would establish or expand a Government
activity or function, a table showing—</text>
<subparagraph id="H36C2242FD532430EB1D2348CD382D311"><enum>(A)</enum><text>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;</text>
</subparagraph><subparagraph id="H6B39034D5CCD42ADB57FAB3DFF7CB6B7"><enum>(B)</enum><text>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</text>
</subparagraph><subparagraph id="H93CE01C0191048E89BD6182861F18BA5"><enum>(C)</enum><text>the estimated
amount for the same activity or function, if any, in the current fiscal
year,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">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.</continuation-text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HD4C511B057274E7498F58587F4125803"><enum>(d)</enum><text>Section
1105(a)(18) of title 31, United States Code, is amended by inserting <quote>new
budget authority and</quote> before <quote>budget outlays</quote>.</text>
</subsection><subsection id="H64AAF22C944A41979358F7C1C633E5CA"><enum>(e)</enum><text>Section 1105(a) of
title 31, United States Code, is amended by adding at the end the following new
paragraphs:</text>
<quoted-block id="H05C2F79444F44F439E81EA49A1A2375E" style="OLC">
<paragraph id="H3A977B0E3DB54B488F9CF68CE08CE5A1"><enum>(35)</enum><text>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.</text>
</paragraph><paragraph id="HBF6B90011D42468A839845F79DFD4EF6"><enum>(36)</enum><text>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.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HE9159EF5FD4845D18FFB8FF3911F71CD"><enum>(f)</enum><text>Section 1109(a) of
title 31, United States Code, is amended by inserting after the first sentence
the following new sentence: <quote>For discretionary spending, these estimates
shall assume the levels set forth in the discretionary spending limits under
section 251(b) 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).</quote>.</text>
</subsection></section><section id="H4244237958EA46FC8BBD10AFF394031C"><enum>153.</enum><header>The
Congressional budget</header><text display-inline="no-display-inline">Section
301(e) of the Congressional Budget Act of 1974 (as amended by section 103) is
further amended—</text>
<paragraph id="H033831FF0F8943FAAA509FF1276E5800"><enum>(1)</enum><text>in paragraph (1),
by inserting at the end the following: <quote>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.</quote>; and</text>
</paragraph><paragraph id="H7AD68E9DD42041E8B274F2B2F4928387"><enum>(2)</enum><text>in paragraph (2),
by striking <quote>and</quote> at the end of subparagraph (H) (as
redesignated), by striking the period and inserting <quote>; and</quote> at the
end of subparagraph (I) (as redesignated), and by adding at the end the
following new subparagraph:</text>
<quoted-block id="HD2A9CE43E13745F88E9E0978301F94C0" style="OLC">
<subparagraph id="H458CA1D1283740F5BB8EFA94CCCEDE2C"><enum>(J)</enum><text>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.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></section><section id="H0FED1F2E8ACD494493FBD971DB3713"><enum>154.</enum><header>Congressional
Budget Office reports to committees</header>
<subsection id="H80CF834DC4B64556BDD794F27D004D6"><enum>(a)</enum><text>The first sentence
of section 202(e)(1) of the Congressional Budget Act of 1974 is amended by
inserting <quote>compared to comparable levels for the current year</quote>
before the comma at the end of subparagraph (A) and before the comma at the end
of subparagraph (B).</text>
</subsection><subsection id="H6ED1B5C3AB5F48608E61BBB8AAEE4DF6"><enum>(b)</enum><text>Section 202(e)(1)
of the Congressional Budget Act of 1974 is amended by inserting after the first
sentence the following new sentence: <quote>Such report shall also include a
table on sources of spending growth in total direct spending for the budget
year and the ensuing 4 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.</quote>.</text>
</subsection><subsection id="H9C83CF6EEA3F44D1908594E5CDF001AF"><enum>(c)</enum><text>Section
308(a)(1)(B) of the Congressional Budget Act of 1974 is amended by inserting
<quote>and shall include a comparison of those levels to comparable levels for
the current fiscal year</quote> before <quote>if timely
submitted</quote>.</text>
</subsection></section><section id="HB25BE9099DC641129E1D52C11FE7FA54"><enum>155.</enum><header>Treatment of
emergencies</header><text display-inline="no-display-inline">Section 257(c) of
the Balanced Budget and Emergency Deficit Control Act of 1985 (as amended by
section 151) is further amended by adding at the end the following new
paragraph:</text>
<quoted-block id="H4F5C8E66E4484C87BE10C982DD7B2BC3" style="OLC">
<paragraph id="HD945DF9417ED4D3280C91966993C7124"><enum>(6)</enum><header>Emergencies</header><text>Budgetary
resources for emergencies shall be at the level provided in the reserve fund
for emergencies for that fiscal year pursuant to section 301(a)(4) of the
Congressional Budget Act of
1974.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><enum>II</enum><header>PUTTING A LID ON
THE FEDERAL BUDGET</header>
<subtitle id="H26F41761F73244639E4DF16B304CC000"><enum>A</enum><header>Spending
Safeguards on the Growth of Entitlements and Mandatories</header>
<section id="HE0224253D86B4CDEA3D9F1B841B8F55"><enum>201.</enum><header>Spending caps on
growth of entitlements and mandatories</header>
<subsection id="H2919F74631D642F68CDDB5B0605F7D9D"><enum>(a)</enum><header>Control of
Entitlements and Mandatories</header><text>The Balanced Budget and Emergency
Deficit Control Act of 1985 is amended by adding after section 252 the
following new section:</text>
<quoted-block id="HA85F65FC3E7045C1A17F9813495E0097" style="OLC">
<section id="H85545922113E422C96349EC03FEC8C6F"><enum>252A.</enum><header>Enforcing
controls on direct spending</header>
<subsection id="H0F27EB05537C44C6964805CF6D6000FA"><enum>(a)</enum><header>Cap on Growth of
Entitlements</header><text>Effective for fiscal year 2009 and for each ensuing
fiscal year, the total level of direct spending for all direct spending
programs, projects, and activities (excluding social security) for any such
fiscal year shall not exceed the total level of spending for all such programs,
projects, and activities for the previous fiscal year after the direct spending
for each such program, project, or activity is increased by the higher of the
change in the Consumer Price Index for All Urban Consumers or the inflator (if
any) applicable to that program, project, or activity and the growth in
eligible population for such, project, or activity.</text>
</subsection><subsection id="HC68DA809488F444CBDB74207CE5DDCC2"><enum>(b)</enum><header>Sequestration</header><text>Within
15 days after Congress adjourns to end a session (other than of the second
session of the One Hundred Ninth Congress), and on the same day as a
sequestration (if any) under section 251, there shall be a sequestration to
reduce the amount of direct spending for the fiscal year beginning in the year
the Congress adjourns by any amount necessary to reduce such spending to the
level set forth in subsection (a) unless that amount is less than
$250,000,000.</text>
</subsection><subsection id="HC3EAC3C6672547778F3F29188012A100"><enum>(c)</enum><header>Uniform
Reductions; Limitations</header><text>The amount required to be sequestered for
the fiscal year under subsection (a) shall be obtained from nonexempt direct
spending accounts by actions taken in the following order:</text>
<paragraph id="H9102E12ABB814E2888681E14A8A06EE0"><enum>(1)</enum><header>First</header><text>The
reductions in the programs specified in section 256(a) (National Wool Act and
special milk), section 256(b) (student loans), and section 256(c) (foster care
and adoption assistance) shall be made.</text>
</paragraph><paragraph id="H45AAB3A13BE04FB2925F9208B74647A1"><enum>(2)</enum><header>Second</header><text>Any
additional reductions that may be required shall be achieved by reducing each
remaining nonexempt direct spending account by the uniform percentage necessary
to achieve those additional reductions, except that—</text>
<subparagraph id="HB2F1AD8EB9CA4629AF333FCFFB2FE74"><enum>(A)</enum><text>the low-income
programs specified in section 256(d) shall not be reduced by more than 2
percent;</text>
</subparagraph><subparagraph id="H0044F635F6784BA4A57D5BF9E645B5F2"><enum>(B)</enum><text>the retirement and
veterans benefits specified in sections 256(f), (g), and (h) shall not be
reduced by more than 2 percent in the manner specified in that section;
and</text>
</subparagraph><subparagraph id="H3B19C1F78D2A4C7A868F4000B6AC00F6"><enum>(C)</enum><text>the medicare
programs shall not be reduced by more than 2 percent in the manner specified in
section 256(i).</text>
</subparagraph><continuation-text continuation-text-level="paragraph">The
limitations set forth in subparagraphs (A), (B), and (C) shall be applied
iteratively, and after each iteration the uniform percentage applicable to all
other programs under this paragraph shall be increased (if necessary) to a
level sufficient to achieve the reductions required by this
paragraph.</continuation-text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H29F5C732CA2946E90000E7A39C76B085"><enum>(b)</enum><header>Table of
Contents Amendment</header><text>The table of contents set forth in 250(c) of
the Balanced Budget and Emergency Deficit Control Act of 1985 is amended by
adding after the item relating to section 252 the following new item:</text>
<quoted-block id="HF4CAF8BADCAC4202B1A73507026DEA1E" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 252A. Enforcing controls on direct
spending.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H7B65ED95EE9A499A9D523F142825F34C"><enum>202.</enum><header>Exempt programs
and activities</header><text display-inline="no-display-inline">Section 255 of
the Balanced Budget and Emergency Deficit Control Act of 1985 is amended to
read as follows:</text>
<quoted-block id="H9A1125AD457D49119F78976D06B2BD5" style="OLC">
<section id="H78EEAB20E0544296B432B5052E9B89B0"><enum>255.</enum><header>Exempt programs
and activities</header>
<subsection id="H30BA6FF01EB644FEACC0B61F87211B07"><enum>(a)</enum><header>Social Security
Benefits; Tier I Railroad Retirement Benefits; and Certain Medicare
Benefits</header><paragraph commented="no" display-inline="yes-display-inline" id="HDB00E027F9514B95835CC4F9200028B2"><enum>(1)</enum><text>Benefits payable under
the old-age, survivors, and disability insurance program established under
title II of the <act-name parsable-cite="SSA">Social Security Act</act-name>,
and benefits payable under section 3(a), 3(f)(3), 4(a), or 4(f) of the Railroad
Retirement Act of 1974, shall be exempt from reduction under any order issued
under this part.</text>
</paragraph><paragraph id="H280A446F36314DC288CB8A49BF27835" indent="up1"><enum>(2)</enum><text>Payments made under part A of title
XVIII (relating to part A medicare hospital insurance benefits) of the
<act-name parsable-cite="SSA">Social Security Act</act-name> and payments made
under part C of such title (relating to the Medicare Advantage program) insofar
as they are attributable to part A of such title shall be exempt from reduction
under any order issued under this part.</text>
</paragraph></subsection><subsection id="H6CC41EA76F72446EB4E1008518BEB92B"><enum>(b)</enum><header>Descriptions and
Lists</header><text>The following budget accounts or activities shall be exempt
from sequestration:</text>
<paragraph id="HEB010B69215F4451995D9EDC6B004DFD"><enum>(1)</enum><text>net
interest;</text>
</paragraph><paragraph id="H4DC816B2EBC24846841420C1E143FED5"><enum>(2)</enum><text>all payments to
trust funds from excise taxes or other receipts or collections properly
creditable to those trust funds;</text>
</paragraph><paragraph id="H40BB0D907069485BA14FDEACBD007F05"><enum>(3)</enum><text>all payments from
one Federal direct spending budget account to another Federal budget account;
and all intragovernmental funds including those from which funding is derived
primarily from other Government accounts, except to the extent that such funds
are augmented by direct appropriations for the fiscal year for which the order
is in effect;</text>
</paragraph><paragraph id="H87B2D82718A3479796CFEF1764B3C88"><enum>(4)</enum><text>activities
resulting from private donations, bequests, or voluntary contributions to the
Government;</text>
</paragraph><paragraph id="HA4DDA19A47974D92BDB743C821B62D64"><enum>(5)</enum><text>payments from any
revolving fund or trust-revolving fund (or similar activity) that provides
deposit insurance or other Government insurance, Government guarantees, or any
other form of contingent liability, to the extent those payments result from
contractual or other legally binding commitments of the Government at the time
of any sequestration;</text>
</paragraph><paragraph id="H7187FEA6CDA7412E8B2BC70866B20041"><enum>(6)</enum><text>credit liquidating
and financing accounts;</text>
</paragraph><paragraph id="HDD9BD785500E4447B11F063DFB1C5ED4"><enum>(7)</enum><text>the following
accounts, which largely fulfill requirements of the Constitution or otherwise
make payments to which the Government is committed:</text>
<subparagraph id="H526A8F1FF44141F89EA23D4F04A29852"><enum></enum><text>Administration of Territories,
Northern Mariana Islands Covenant grants (14–0412–0–1–806);</text>
</subparagraph><subparagraph id="HBC3A6737815E4C0DBBF9EF013DDFFB00"><enum></enum><text>Armed Forces
Retirement Home Trust Fund, payment of claims (84–8930–0–7–705);</text>
</subparagraph><subparagraph id="H50F97B1830494F7EBDCE95AFD8DCCB3E"><enum></enum><text>Bureau of
Indian Affairs, miscellaneous payments to Indians (14–2303–0–1–452);</text>
</subparagraph><subparagraph id="H1E215D926224450DBE1600721D959D76"><enum></enum><text>Bureau of
Indian Affairs, miscellaneous trust funds, tribal trust funds
(14–9973–0–7–999);</text>
</subparagraph><subparagraph id="H1FF5C8B1E3824B5DB2667F00075BEEDD"><enum></enum><text>Claims,
defense;</text>
</subparagraph><subparagraph id="HEFA11AC2F1E543D386F7BBFB03F957BF"><enum></enum><text>Claims,
judgments, and relief act (20–1895–0–1–806);</text>
</subparagraph><subparagraph id="H9F55A68F2664460C83F919D421CAD8CB"><enum></enum><text>Compact of
Free Association, economic assistance pursuant to <external-xref legal-doc="public-law" parsable-cite="pl/99/658">Public Law 99–658</external-xref>
(14–0415–0–1–806);</text>
</subparagraph><subparagraph id="HE3F9E6F6A62847B8A0941E3E30608F7F"><enum></enum><text>Compensation
of the President (11–0001–0–1–802);</text>
</subparagraph><subparagraph id="H42141C93849B4E1D8DAD4DA2827E144C"><enum></enum><text>Customs
Service, miscellaneous permanent appropriations (20–9992–0–2–852);</text>
</subparagraph><subparagraph id="HF056E4AE9B764896B9910006DEF1BE70"><enum></enum><text>Eastern
Indian land claims settlement fund (14–2202–0–1–806);</text>
</subparagraph><subparagraph id="HF5A125B07EE943428EE4244C963B4BC6"><enum></enum><text>Farm Credit
Administration, Limitation on Administration Expenses (78–4131–0–3–351);</text>
</subparagraph><subparagraph id="HA5ACE72DB80F41E3B145707EDD37A96"><enum></enum><text>Farm Credit
System Financial Assistance Corporation, interest payments
(20–1850–0–1–351);</text>
</subparagraph><subparagraph id="H8B8DC1E33A9044F6B588405937000887"><enum></enum><text>Internal
Revenue collections of Puerto Rico (20–5737–0–2–852);</text>
</subparagraph><subparagraph id="H7E5465D7223B4EFC88FE9159E745EE07"><enum></enum><text>Panama Canal
Commission, operating expenses and capital outlay (95–5190–0–2–403);</text>
</subparagraph><subparagraph id="H4EB035BC74094B3F8BA1B0C825E7AA31"><enum></enum><text>Payments of
Vietnam and USS Pueblo prisoner-of-war claims (15–0104–0–1–153);</text>
</subparagraph><subparagraph id="H5A6474AFC93041DFA2209761D7FB3880"><enum></enum><text>Payments to
copyright owners (03–5175–0–2–376);</text>
</subparagraph><subparagraph id="H1A05B1DB93AF4B0E84A600A14584FA37"><enum></enum><text>Payments to
health care trust funds (75–0580–0–1–571);</text>
</subparagraph><subparagraph id="H24A32BC09AB64B2CB153800081DDCFB2"><enum></enum><text>Payments to
social security trust funds (75–0404–0–1–651);</text>
</subparagraph><subparagraph id="H9A5B71A7FCF045FE00164FD72889E0A7"><enum></enum><text>Payments to
the United States territories, fiscal assistance (14–0418–0–1–801);</text>
</subparagraph><subparagraph id="HCCE49D3577214682A0359497A996BAA"><enum></enum><text>Payments to
widows and heirs of deceased Members of Congress (00–0215–0–1–801);</text>
</subparagraph><subparagraph id="H3C8361E8FA9E4AC2B5A47604EF25AB5"><enum></enum><text>Pension
Benefit Guaranty Corporation Fund (16–4204–0–3–601);</text>
</subparagraph><subparagraph id="H267B35D874624AB98D7538D9C4C0B4AC"><enum></enum><text>Salaries of
Article III judges;</text>
</subparagraph><subparagraph id="H4E7289A31A30483187C9DC91F4568C46"><enum></enum><text>Washington
Metropolitan Area Transit Authority, interest payments
(46–0300–0–1–401);</text>
</subparagraph></paragraph><paragraph id="HF833458BA7ED4C15B775D9619CD0955C"><enum>(8)</enum><text>the following
noncredit special, revolving, or trust-revolving funds:</text>
</paragraph></subsection><continuation-text continuation-text-level="section">Coinage
profit fund (20–5811–0–2–803);</continuation-text></section><subparagraph id="HDB91B07B38A7463D935F156D6C76C1DE"><enum></enum><text>Comptroller
of the Currency;</text>
</subparagraph><subparagraph id="H3D34407EC1614062BF9CB46BFE9B392F"><enum></enum><text>Director of
the Office of Thrift Supervision;</text>
</subparagraph><subparagraph id="H70B3D421621B4DA3926551A3C837FDB0"><enum></enum><text>Exchange
Stabilization Fund (20–4444–0–3–155);</text>
</subparagraph><subparagraph id="H9F12692DB41F4A3FA836F456BA682EB2"><enum></enum><text>Federal
Housing Finance Board;</text>
</subparagraph><subparagraph id="H4E463218AFD543909075ECE6F2693B0"><enum></enum><text>Foreign
Military Sales trust fund (11–82232–0–7–155);</text>
</subparagraph><subparagraph id="HCF2458AD45FA4F6D8ECC514EBC69DDA7"><enum></enum><text>National
Credit Union Administration, central liquidating facility
(25–4470–0–3–373);</text>
</subparagraph><subparagraph id="HE7F7119E0B0443B8B89B94989D4DF6E3"><enum></enum><text>National
Credit Union Administration, credit union insurance fund
(25–4468–0–3–373);</text>
</subparagraph><subparagraph id="H93B6AE81800E4CB4AE68D818433EBE92"><enum></enum><text>National
Credit Union Administration operating fund (25–4056–0–3–373); and</text>
</subparagraph><subparagraph id="HBF0FAD67EFE548D292D023FE00123D04"><enum></enum><text>Resolution
Trust Corporation Revolving Fund (22–4055–0–3–373);</text>
</subparagraph><paragraph id="H7C4AB85D919945B7B900A53284CE0267"><enum>(9)</enum><text>Thrift Savings
Fund;</text>
</paragraph><paragraph id="H8C543CBC8C0142F6843538C0B2CBC776"><enum>(10)</enum><text>appropriations
for the District of Columbia to the extent they are appropriations of locally
raised funds;</text>
</paragraph><paragraph id="HC5E32E0D7D1B465BB6D3B529C247DEA"><enum>(11)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H4E662B4258C24E1BBF2E61D44D2A054"><enum>(A)</enum><text>any amount paid as
regular unemployment compensation by a State from its account in the
Unemployment Trust Fund (established by section 904(a) of the
<act-name parsable-cite="SSA">Social Security Act</act-name>);</text>
</subparagraph><subparagraph id="H73825B12CC1F415C84D3444C5633A8C8" indent="up1"><enum>(B)</enum><text>any advance made to a State from the
Federal unemployment account (established by section 904(g) of such Act) under
title XII of such Act and any advance appropriated to the Federal unemployment
account pursuant to section 1203 of such Act; and</text>
</subparagraph><subparagraph id="H6FA1C0E854CA425094EC24E3D68FA9C" indent="up1"><enum>(C)</enum><text>any payment made from the Federal
Employees Compensation Account (as established under section 909 of such Act)
for the purpose of carrying out <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/5/85">chapter 85</external-xref> of title 5, United States Code, and
funds appropriated or transferred to or otherwise deposited in such Account;
and</text>
</subparagraph></paragraph><paragraph id="HFDCA881C1556456B8872FC79B2B438F"><enum>(12)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HE3A214C7045743C8BD1891A13FFE8D9D"><enum>(A)</enum><text>FDIC, Bank Insurance
Fund (51–4064–0–3–373);</text>
</subparagraph><subparagraph id="H8CCC4E92CCE74D0BAFF206D66C09795" indent="up1"><enum>(B)</enum><text>FDIC, FSLIC Resolution Fund
(51–4065–0–3–373); and</text>
</subparagraph><subparagraph id="H4C7128B538DF4170AD96D6D9395302EA" indent="up1"><enum>(C)</enum><text>FDIC, Savings Association Insurance
Fund (51–4066–0–3–373).</text>
</subparagraph></paragraph><subsection id="H07A256FDF9D84123AEDA447CA359EC"><enum>(c)</enum><header>Federal Retirement
and Disability Accounts</header><text>The following Federal retirement and
disability accounts shall be exempt from reduction under any order issued under
this part:</text>
<paragraph id="H30953EEBAAC24B9FA74C13EBF5FC00B7"><enum></enum><text>Civil service
retirement and disability fund (24–8135–0–7–602).</text>
</paragraph><paragraph id="HF9C5087209944A95B7B3120702D3335C"><enum></enum><text>Black Lung
Disability Trust Fund (20–8144–0–7–601).</text>
</paragraph><paragraph id="HCAEE3554A0E64A73BA109C3D89CF5797"><enum></enum><text>Foreign Service
Retirement and Disability Fund (19–8186–0–7–602).</text>
</paragraph><paragraph id="HEB7C859966FE455295FC01B545EAB7A1"><enum></enum><text>District of
Columbia Judicial Retirement and Survivors Annuity Fund
(20–8212–0–7–602).</text>
</paragraph><paragraph id="H520E3DE856024816AEF4F15B19FD5A8"><enum></enum><text>Judicial
Survivors’ Annuities Fund (10–8110–0–7–602).</text>
</paragraph><paragraph id="H3863FA59BCB84B7CA29BB1B78205AC63"><enum></enum><text>Payments to the
Railroad Retirement Accounts (60–0113–0–1–601).</text>
</paragraph><paragraph id="H54EB4DC4A9E1449D00323E439097324F"><enum></enum><text>Tax Court
Judges Survivors Annuity Fund (23–8115–0–7–602).</text>
</paragraph><paragraph id="H14710F07DC72449BADD08545F54DF563"><enum></enum><text>Employees Life
Insurance Fund (24–8424–0–8–602).</text>
</paragraph></subsection><subsection id="H6C962F527B074837A8B06E73E6D5A55D"><enum>(d)</enum><header>Federal
Administrative Expenses</header>
<paragraph id="HEBE8535D26A34749B9EEACE319CEB637"><enum>(1)</enum><text>Notwithstanding
any provision of law other than paragraph (3), administrative expenses incurred
by the departments and agencies, including independent agencies, of the
Government in connection with any program, project, activity, or account shall
be subject to reduction pursuant to any sequestration order, without regard to
any exemption, exception, limitation, or special rule otherwise applicable with
respect to such program, project, activity, or account, and regardless of
whether the program, project, activity, or account is self-supporting and does
not receive appropriations.</text>
</paragraph><paragraph id="H0EF8269741924D2DA29580378940336F"><enum>(2)</enum><text>Payments made by
the Government to reimburse or match administrative costs incurred by a State
or political subdivision under or in connection with any program, project,
activity, or account shall not be considered administrative expenses of the
Government for purposes of this section, and shall be subject to sequestration
to the extent (and only to the extent) that other payments made by the
Government under or in connection with that program, project, activity, or
account are subject to that reduction or sequestration; except that Federal
payments made to a State as reimbursement of administrative costs incurred by
that State under or in connection with the unemployment compensation programs
specified in subsection (a)(11) shall be subject to reduction or sequestration
under this part notwithstanding the exemption otherwise granted to such
programs under that subsection.</text>
</paragraph><paragraph id="H86DFFB3AE6AD4EBB84B6FA021E78B5EB"><enum>(3)</enum><text>Notwithstanding
any other provision of law, the administrative expenses of the following
programs shall be exempt from sequestration:</text>
<subparagraph id="H5A52874CB3FA488C872F356CAC01F200"><enum>(A)</enum><text>Comptroller of the
Currency.</text>
</subparagraph><subparagraph id="H35DD573CCC744436A76BBF4DA71074E4"><enum>(B)</enum><text>Federal Deposit
Insurance Corporation.</text>
</subparagraph><subparagraph id="H3F13E870513B445DA883F7A71915516E"><enum>(C)</enum><text>Office of Thrift
Supervision.</text>
</subparagraph><subparagraph id="H7DAD1BB24F854B71AA7E00DD243610B6"><enum>(D)</enum><text>National Credit
Union Administration.</text>
</subparagraph><subparagraph id="HB09DA79CA1FF4FD599DD86D4FA6432C"><enum>(E)</enum><text>National Credit
Union Administration, central liquidity facility.</text>
</subparagraph><subparagraph id="H61FAAEFE2487487597D1152B71E262E"><enum>(F)</enum><text>Federal Retirement
Thrift Investment Board.</text>
</subparagraph><subparagraph id="H399605C169344DCFBC9100F0CF0065BF"><enum>(G)</enum><text>Resolution Funding
Corporation.</text>
</subparagraph><subparagraph id="H1FB56C57B4E84BA7AD6D929ED19B8BC5"><enum>(H)</enum><text>Resolution Trust
Corporation.</text>
</subparagraph><subparagraph id="H3E6E629CB79746C0AB896125EFBDC3FD"><enum>(I)</enum><text>Board of Governors
of the Federal Reserve System.</text>
</subparagraph></paragraph></subsection><subsection id="H6F407811CDB544FBA48BE2648E069FBE"><enum>(e)</enum><header>Veterans’
Programs</header><text>The following programs shall be exempt from reduction
under any order issued under this part:</text>
<paragraph id="H35ED0F70F2E0406D961B813EF4D159B0"><enum></enum><text>General Post
Funds (36–8180–0–7–705).</text>
</paragraph><paragraph id="HBAC458630AF347EAAFFF3B1DEA7B0087"><enum></enum><text>Veterans
Insurance and Indemnities (36–0120–0–1–701).</text>
</paragraph><paragraph id="H9B2D1D748E9C452AB600CFA56CB43C32"><enum></enum><text>Service-Disabled Veterans
Insurance Funds (36–4012–0–3–701).</text>
</paragraph><paragraph id="H283100A08A3E4569900786BE7585707"><enum></enum><text>Veterans
Reopened Insurance Fund (36–4010–0–3–701).</text>
</paragraph><paragraph id="HC2FF03CE889E47DB997F00F808C285F9"><enum></enum><text>Servicemembers’
Group Life Insurance Fund (36–4009–0–3–701).</text>
</paragraph><paragraph id="HC13820E3FEAE414FB2858612A79C1390"><enum></enum><text>Post-Vietnam
Era Veterans Education Account (36–8133–0–7–702).</text>
</paragraph><paragraph id="H1FA8E94F4A834DC5A99F4B3499989610"><enum></enum><text>National
Service Life Insurance Fund (36–8132–0–7–701).</text>
</paragraph><paragraph id="HAAC58A77D56C49D2804E015693EFD3E0"><enum></enum><text>United States
Government Life Insurance Fund (36–8150–0–7–701).</text>
</paragraph><paragraph id="HE5E1834BC76B491490CCBD84F17800B6"><enum></enum><text>Veterans
Special Life Insurance Fund (36–8455–0–8–701).</text>
</paragraph></subsection><subsection id="HE64A967409E24A11AA00142596244360"><enum>(f)</enum><header>Optional
Exemption of Defense and Homeland Security Accounts</header>
<paragraph id="H9A1EFEDA332840C090733EC421FA8090"><enum>(1)</enum><header>In
general</header><text>The President may, with respect to any defense or
homeland security account, exempt that account from sequestration or provide
for a lower uniform percentage reduction than would otherwise apply.</text>
</paragraph><paragraph id="H45C0A26A59244DE0BC53809364CC65B5"><enum>(2)</enum><header>Limitation</header><text>The
President may not use the authority provided by paragraph (1) unless the
President notifies the Congress of the manner in which such authority will be
exercised on or before the date specified in section 254(a) for the budget
year.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="HE561780BBF4044B2B4F39BED256E29DF"><enum>203.</enum><header>Exceptions,
limitations, and special rules</header>
<subsection id="H51F2B38042234FA58439E4ECA20090FF"><enum>(a)</enum><header>In
General</header><text>Section 256 of the Balanced Budget and Emergency Deficit
Control Act of 1985 is amended to read as follows:</text>
<quoted-block id="HE672D891D5F84842B3ED1589F900F5DF" style="OLC">
<section id="H482445463EA94FC99F2C793130C0095"><enum>256.</enum><header>Exceptions,
limitations, and special rules</header>
<subsection id="H0F3D64AC3F4C44FAB0AA35800072AB7F"><enum>(a)</enum><header>National Wool
Act and the Special Milk Program</header><text>Automatic spending increases are
increases in outlays due to changes in indexes in the following
programs:</text>
<paragraph id="H853D3696B87A43EE93D92FC3F86F3388"><enum>(1)</enum><text>National Wool
Act.</text>
</paragraph><paragraph id="HF5F41BEC3199479AA600D15FAA909038"><enum>(2)</enum><text>Special milk
program.</text>
</paragraph><continuation-text continuation-text-level="subsection">In those
programs all amounts other than the automatic spending increases shall be
exempt from reduction under any sequestration order.</continuation-text></subsection><subsection id="H2CCABC4CD7914142BFBE00AA247227AA"><enum>(b)</enum><header>Student
Loans</header><text>For all student loans under part B or D of title IV of the
<act-name parsable-cite="HEA65">Higher Education Act of 1965</act-name> made
during the period when a sequestration order under section 254 is in effect as
required by section 252 or 253, origination fees under sections 438(c)(2) and
455(c) of that Act shall each be increased by 0.50 percentage point.</text>
</subsection><subsection id="HE2B3CE3B93D344BE8CDB3166669C0736"><enum>(c)</enum><header>Foster Care and
Adoption Assistance Programs</header><text>Any sequestration order shall make
the reduction otherwise required under the foster care and adoption assistance
programs (established by part E of title IV of the
<act-name parsable-cite="SSA">Social Security Act</act-name>) only with respect
to payments and expenditures made by States in which increases in foster care
maintenance payment rates or adoption assistance payment rates (or both) are to
take effect during the fiscal year involved, and only to the extent that the
required reduction can be accomplished by applying a uniform percentage
reduction to the Federal matching payments that each such State would otherwise
receive under section 474 of that Act (for such fiscal year) for that portion
of the State’s payments attributable to the increases taking effect during that
year. No State’s matching payments from the Government for foster care
maintenance payments or for adoption assistance maintenance payments may be
reduced by a percentage exceeding the applicable domestic sequestration
percentage. No State may, after the date of the enactment of this Act, make any
change in the timetable for making payments under a State plan approved under
part E of title IV of the <act-name parsable-cite="SSA">Social Security
Act</act-name> which has the effect of changing the fiscal year in which
expenditures under such part are made.</text>
</subsection><subsection id="H45089ED55C4D4F7596EBB0D065576E68"><enum>(d)</enum><header>Low-Income
Programs</header><paragraph commented="no" display-inline="yes-display-inline" id="HDDEA04D9914C49AEB7787E6DED007213"><enum>(1)</enum><text>Benefit payments or
payments to States or other entities for the programs listed in paragraph (2)
shall not be reduced by more than 2 percent under any sequestration order. When
reduced under an end-of-session sequestration order, those benefit reductions
shall occur starting with the payment made at the start of January. When
reduced under a within-session sequestration order, those benefit reductions
shall occur starting with the next periodic payment.</text>
</paragraph><paragraph id="H57A06A0DA9DD4A2E9F533D69A88FFAE1" indent="up1"><enum>(2)</enum><text>The programs referred to in paragraph
(1) are the following:</text>
</paragraph><paragraph id="H0628829D08F9419C9CAA4BB4ACABA0F1"><enum></enum><text>Child Nutrition
(12–3539–0–1–605).</text>
</paragraph><paragraph id="HFD36BAF52CA646CD8E4D40F900E201F2"><enum></enum><text>Food Stamp
Programs (12–3505–0–1–605).</text>
</paragraph><paragraph id="H0F477C07F21B4E53839532E0BE24BC69"><enum></enum><text>Grants to
States for Medicaid (75–0512–0–1–551).</text>
</paragraph><paragraph id="H76582FEF9BFD4372B72EEE94FFB846DC"><enum></enum><text>State
Children’s Health Insurance Fund (75–0515–0–1–551).</text>
</paragraph><paragraph id="H3B0809740C0E4355A733D9C30E9C15E"><enum></enum><text>Supplemental
Security Income Program (75–0406–0–1–609).</text>
</paragraph><paragraph id="H2BB296CDCDDE491F99C67DE938A3DDC2"><enum></enum><text>Temporary
Assistance for Needy Families (75–1552–0–1–609).</text>
</paragraph><paragraph id="HC40F7FEA1F6C46CB00259F3DCD2106BE"><enum></enum><text>Special
supplemental nutrition program for women, infants, and children (WIC)
(12–3510–0–1–605).</text>
</paragraph></subsection><subsection id="HB71FD367B6D948E990ED790094665597"><enum>(e)</enum><header>Veterans’
Medical Care</header><text>The maximum permissible reduction in budget
authority for Veterans’ medical care (36–0160–0–1–703) for any fiscal year,
pursuant to an order issued under section 254, shall be 2 percent.</text>
</subsection><subsection id="H7791B1F9134849B0801B62DDCD40C5E7"><enum>(f)</enum><header>Federal
Retirement Programs</header>
<paragraph id="HD80ADF1B019F4406B1FFF5D6D9E5326"><enum>(1)</enum><text>For each of the
programs listed in paragraph (2) and except as provided in paragraph (3),
monthly (or other periodic) benefit payments shall be reduced by the uniform
percentage applicable to direct spending sequestrations for such programs,
which shall in no case exceed 2 percent under any sequestration order. When
reduced under an end-of-session sequestration order, those benefit reductions
shall occur starting with the payment made at the start of January or 7 weeks
after the order is issued, whichever is later. When reduced under a
within-session sequestration order, those benefit reductions shall occur
starting with the next periodic payment.</text>
</paragraph><paragraph id="HF68D084397544AA98DA2FF8054ED457D"><enum>(2)</enum><text>The programs
subject to paragraph (1) are:</text>
<subparagraph id="H7C0A81D9930C470CBD1E1500F61BBF97"><enum></enum><text>Central
Intelligence Agency Retirement and Disability Fund (56–3400–0–1–054).</text>
</subparagraph><subparagraph id="H631E101562014797A400885268146FBF"><enum></enum><text>Comptrollers
General Retirement System (05–0107–0–1–801).</text>
</subparagraph><subparagraph id="id258554C3B231470C8CE5B001D1B8C3FC"><enum></enum><text>Payments to
the Foreign Service Retirement and Disability Fund (72–1036–0–1–153).</text>
</subparagraph><subparagraph id="H1A528DB5279548F9963BD0B931004D14"><enum></enum><text>Judicial
Officer’ Retirement Fund (10–8122–0–7–602).</text>
</subparagraph><subparagraph id="H2DFEE375DADC45ED9B28847B00AE26EA"><enum></enum><text>Claims
Judges’ Retirement Fund (10–8124–0–7–602).</text>
</subparagraph><subparagraph id="H65CC73DF61744A92871980002E7C411B"><enum></enum><text>Pensions for
former Presidents (47–0105–0–1–802).</text>
</subparagraph><subparagraph id="HDF394317C6414E94ACAC632927F2FA35"><enum></enum><text>National
Oceanic and Atmospheric Administration Retirement (13–1450–0–1–306).</text>
</subparagraph><subparagraph id="H40A566260E1D4D8CB0C62200A8D0AC9D"><enum></enum><text>Railroad
Industry Pension Fund (60–8011–0–7–601).</text>
</subparagraph><subparagraph id="H75A1E0F0E8A64B71AEAFB91C8527B467"><enum></enum><text>Retired pay,
Coast Guard (70–0602–0–1–403).</text>
</subparagraph><subparagraph id="H360E844BFCC1485F00CF043EC73616D3"><enum></enum><text>Retirement
pay and medical benefits for commissioned officers, Public Health Service
(75–0379–0–1–551).</text>
</subparagraph><subparagraph id="HEA269430F5B146B18600804352B6C619"><enum></enum><text>Payments to
Civil Service Retirement and Disability Fund (24–0200–0–1–805).</text>
</subparagraph><subparagraph id="H84512A91A7E64D74BEB3CD80497B05C2"><enum></enum><text>Payments to
the Foreign Service Retirement and Disability Fund (72–1036–0–1–153)</text>
</subparagraph><subparagraph id="H449E48B879E44811939FA546DBF26667"><enum></enum><text>Payments to
Judiciary Trust Funds (10–0941–0–1–752).</text>
</subparagraph></paragraph></subsection><subsection id="HF44AAC8FB32C487AA228CE34032883C2"><enum>(g)</enum><header>Veterans
Programs</header><text>To achieve the total percentage reduction required by
any order issued under this part, the percentage reduction that shall apply to
payments under the following programs shall in no event exceed 2
percent:</text>
<paragraph id="HBFA1D765E756418E9FD882959ECE0075"><enum></enum><text>Canteen Service
Revolving Fund (36–4014–0–3–705).</text>
</paragraph><paragraph id="H471DA57B4017490D93D7962E5BD64E00"><enum></enum><text>Medical Center
Research Organizations (36–4026–0–3–703).</text>
</paragraph><paragraph id="H072BBDB4DB9C4BB0ABD9700071FC7585"><enum></enum><text>Disability
Compensation Benefits (36–0102–0–1–701).</text>
</paragraph><paragraph id="H2B5B6CEF96B94125B260DE1031F99893"><enum></enum><text>Education
Benefits (36–0137–0–1–702).</text>
</paragraph><paragraph id="H11BB2ADCC0F948D6A6A01F7F6083D3D"><enum></enum><text>Vocational
Rehabilitation and Employment Benefits (36–0135–0–1–702).</text>
</paragraph><paragraph id="H6659ACD6DFC0402F9DE7E43891868617"><enum></enum><text>Pensions
Benefits (36–0154–0–1–701).</text>
</paragraph><paragraph id="H058CFCCA90F44F21B8A3EFDD34FB50E1"><enum></enum><text>Burial Benefits
(36–0139–0–1–701).</text>
</paragraph><paragraph id="HA99BA1EB906E4672B44099BC07D50058"><enum></enum><text>Guaranteed
Transitional Housing Loans For Homeless Veterans Program Account
(36–1119–0–1–704).</text>
</paragraph><paragraph id="HDFA04C507833453BA2743624C67E0659"><enum></enum><text>Housing Direct
Loan Financing Account (36–4127–0–1–704).</text>
</paragraph><paragraph id="HE9B9A0469BEF40AA9F3B9217282C00A8"><enum></enum><text>Housing
Guaranteed Loan Financing Account (36–4129–0–3–704).</text>
</paragraph><paragraph id="H23A501E0B9274DFE82B0CA68AF4BAE"><enum></enum><text>Vocational
Rehabilitation and Education Direct Loan Financing Account
(36–4259–0–3–702).</text>
</paragraph></subsection><subsection id="HB5F0ED5B0A9D4D35A246EB48D4888B2E"><enum>(h)</enum><header>Military Health
and Retirement</header><text>To achieve the total percentage reduction in
military retirement required by any order issued under this part, the
percentage reduction that shall apply to payments under the Military retirement
fund (97–8097–0–7–602), payments to the military retirement fund
(97–0040–0–1–054), and the Defense Health Program (97–0130–0–1–051) shall in no
event exceed 2 percent.</text>
</subsection><subsection id="H6FE3DB21C1154C05B22BA7997E39F7E3"><enum>(i)</enum><header>Medicare
Program</header>
<paragraph id="HD7A381F3CA57453EA4C7583E87DB6BFC"><enum>(1)</enum><header>Calculation of
reduction in individual payment amounts</header><text>To achieve the total
percentage reduction in those programs required by any order issued under this
part, the percentage reduction that shall apply to payments under the health
insurance programs under title XVIII of the <act-name parsable-cite="SSA">Social Security Act</act-name> (other than payments
described in section 255(a)(2)) that are subject to such order for services
furnished after any sequestration order is issued shall be such that the
reduction made in payments under that order shall achieve the required total
percentage reduction in those payments for that fiscal year as determined on a
12-month basis. However, the percentage reduction under any such program shall
in no case exceed 2 percent under any sequestration order.</text>
</paragraph><paragraph id="HCF701E6776CA4C58B59C7F266DA1459E"><enum>(2)</enum><header>Timing of
application of reductions</header><text>If a reduction is made under paragraph
(1) in payment amounts pursuant to a sequestration order, the reduction shall
be applied to payment for services furnished after the effective date of the
order.</text>
</paragraph><paragraph id="H5FE7C952B6564E7381002D27506273C0"><enum>(3)</enum><header>No increase in
beneficiary charges in assignment-related cases</header><text>If a reduction in
payment amounts is made under paragraph (1) for services for which payment
under part B of title XVIII of the <act-name parsable-cite="SSA">Social
Security Act</act-name> is made on the basis of an assignment described in
section 1842(b)(3)(B)(ii), in accordance with section 1842(b)(6)(B), or under
the procedure described in section 1870(f)(1) of such Act, the person
furnishing the services shall be considered to have accepted payment of the
reasonable charge for the services, less any reduction in payment amount made
pursuant to a sequestration order, as payment in full.</text>
</paragraph><paragraph id="HB2C2271741704744A9BAF1BE9B1DE41C"><enum>(4)</enum><header>Application to
parts c and d</header><text>The reductions otherwise required under parts C and
D of title XVIII of the <act-name parsable-cite="SSA">Social Security
Act</act-name> with respect to a fiscal year shall be applied to the calendar
year that begins after the end of the fiscal year to which the applicable
sequestration order applies.</text>
</paragraph></subsection><subsection id="H02226C8C68B44F7A9E00CA1011759DCD"><enum>(j)</enum><header>Federal
Pay</header>
<paragraph id="H3941B8CEFA9A4148B71DFE484EE04BE2"><enum>(1)</enum><header>In
general</header><text>For purposes of any order issued under section 254, new
budget authority to pay Federal personnel shall be reduced by the applicable
uniform percentage, but no sequestration order may reduce or have the effect of
reducing the rate of pay to which any individual is entitled under any
statutory pay system (as increased by any amount payable under section 5304 of
title 5, United States Code, or section 302 of the Federal Employees Pay
Comparability Act of 1990) or the rate of any element of military pay to which
any individual is entitled under title 37, United States Code, or any increase
in rates of pay which is scheduled to take effect under section 5303 of title
5, United States Code, <external-xref legal-doc="usc" parsable-cite="usc/37/1009">section 1009</external-xref> of title 37, United States Code, or any
other provision of law.</text>
</paragraph><paragraph id="H9AA6B21826BF4AD3000936A6301D996D"><enum>(2)</enum><header>Definitions</header><text>For
purposes of this subsection:</text>
<subparagraph id="H3542FD2B8E0B4651A2F50922EEA70016"><enum>(A)</enum><text>The term
<term>statutory pay system</term> shall have the meaning given that term in
<external-xref legal-doc="usc" parsable-cite="usc/5/5302">section 5302(1)</external-xref> of title 5, United States Code.</text>
</subparagraph><subparagraph id="H18B0A3C3618749BDABF60AF3C56FD5"><enum>(B)</enum><text>The term
<term>elements of military pay</term> means—</text>
<clause id="H15074F415EA8430300FDAAE1B5DB595B"><enum>(i)</enum><text>the elements of
compensation of members of the uniformed services specified in section 1009 of
title 37, United States Code,</text>
</clause><clause id="HC3268B3F29784BAEBC311C6023B6CD82"><enum>(ii)</enum><text>allowances
provided members of the uniformed services under sections 403a and 405 of such
title, and</text>
</clause><clause id="H3CFB44A41FB64624AE495188C5688941"><enum>(iii)</enum><text>cadet pay and
midshipman pay under section 203(c) of such title.</text>
</clause></subparagraph><subparagraph id="H08A92F9D23DA48BABCAA35E384BF5E78"><enum>(C)</enum><text>The term
<term>uniformed services</term> shall have the meaning given that term in
<external-xref legal-doc="usc" parsable-cite="usc/37/101">section 101(3)</external-xref> of title 37, United States Code.</text>
</subparagraph></paragraph></subsection><subsection id="HAD0FBE23415347D300F6BE49B98E6EF1"><enum>(k)</enum><header>Child Support
Enforcement Program</header><text>Any sequestration order shall accomplish the
full amount of any required reduction in expenditures under sections 455 and
458 of the <act-name parsable-cite="SSA">Social Security Act</act-name> by
reducing the Federal matching rate for State administrative costs under such
program, as specified (for the fiscal year involved) in section 455(a) of such
Act, to the extent necessary to reduce such expenditures by that amount.</text>
</subsection><subsection id="HDDE8E3EE673C4D3F9044BE83DCAC43D"><enum>(l)</enum><header>Extended
Unemployment Compensation</header><paragraph commented="no" display-inline="yes-display-inline" id="HD910E83E8A2B450ABFEEEE1549BE39B4"><enum>(1)</enum><text>A State may reduce each
weekly benefit payment made under the Federal-State Extended Unemployment
Compensation Act of 1970 for any week of unemployment occurring during any
period with respect to which payments are reduced under an order issued under
this title by a percentage not to exceed the percentage by which the Federal
payment to the State under section 204 of such Act is to be reduced for such
week as a result of such order.</text>
</paragraph><paragraph id="H2FB59BA5960D4789B6FC034107595402" indent="up1"><enum>(2)</enum><text>A reduction by a State in accordance
with subparagraph (A) shall not be considered as a failure to fulfill the
requirements of section 3304(a)(11) of the Internal Revenue Code of
1954.</text>
</paragraph></subsection><subsection id="HAC58CE3974C9400396AA7C9126D02479"><enum>(m)</enum><header>Commodity Credit
Corporation</header>
<paragraph id="HFD106112D53746CB98DA8B11CC9EF110"><enum>(1)</enum><header>Powers and
authorities of the commodity credit corporation</header><text>This title shall
not restrict the Commodity Credit Corporation in the discharge of its authority
and responsibility as a corporation to buy and sell commodities in world trade,
to use the proceeds as a revolving fund to meet other obligations and otherwise
operate as a corporation, the purpose for which it was created.</text>
</paragraph><paragraph id="H1CF17527C52444C694ED4C4B9DE1F601"><enum>(2)</enum><header>Reduction in
payments made under contracts</header><subparagraph commented="no" display-inline="yes-display-inline" id="H0B4A7C638B2745C7BF9E1CF42C005039"><enum>(A)</enum><text>Payments and loan
eligibility under any contract entered into with a person by the Commodity
Credit Corporation prior to the time any sequestration order has been issued
shall not be reduced by an order subsequently issued. Subject to subparagraph
(B), after any sequestration order is issued for a fiscal year, any cash
payments made by the Commodity Credit Corporation—</text>
<clause id="H35E7C5CD90C5400283EBE8DCB735CFDF" indent="up1"><enum>(i)</enum><text>under the terms of any one-year
contract entered into in or after such fiscal year and after the issuance of
the order; and</text>
</clause><clause id="HA36EA5D5617C49D18D1735DA6479ED00" indent="up1"><enum>(ii)</enum><text>out of an entitlement
account,</text>
</clause></subparagraph><continuation-text continuation-text-level="paragraph">to any
person (including any producer, lender, or guarantee entity) shall be subject
to reduction under the order.</continuation-text><subparagraph id="H230991FF3BB64B2588DEAEBC60D3CDB0" indent="up1"><enum>(B)</enum><text>Each contract entered into with
producers or producer cooperatives with respect to a particular crop of a
commodity and subject to reduction under subparagraph (A) shall be reduced in
accordance with the same terms and conditions. If some, but not all, contracts
applicable to a crop of a commodity have been entered into prior to the
issuance of any sequestration order, the order shall provide that the necessary
reduction in payments under contracts applicable to the commodity be uniformly
applied to all contracts for succeeding crops of the commodity, under the
authority provided in paragraph (3).</text>
</subparagraph></paragraph><paragraph id="H735740ED6FE042D492EB0671D0D79B00"><enum>(3)</enum><header>Delayed
reduction in outlays permissible</header><text>Notwithstanding any other
provision of this title, if any sequestration order is issued with respect to a
fiscal year, any reduction under the order applicable to contracts described in
paragraph (2) may provide for reductions in outlays for the account involved to
occur in the fiscal years following the fiscal year to which the order
applies.</text>
</paragraph><paragraph id="HC8C2A341E5BA4DB0AA95BF8C2DB4534"><enum>(4)</enum><header>Uniform
percentage rate of reduction and other limitations</header><text>All reductions
described in paragraph (2) that are required to be made in connection with any
sequestration order with respect to a fiscal year—</text>
<subparagraph id="HAC4495BCDAB547EBA084E45426A30000"><enum>(A)</enum><text>shall be made so
as to ensure that outlays for each program, project, activity, or account
involved are reduced by a percentage rate that is uniform for all such
programs, projects, activities, and accounts, and may not be made so as to
achieve a percentage rate of reduction in any such item exceeding the rate
specified in the order; and</text>
</subparagraph><subparagraph id="HCA8FED50325B40DA9757877B2B9E8605"><enum>(B)</enum><text>with respect to
commodity price support and income protection programs, shall be made in such
manner and under such procedures as will attempt to ensure that—</text>
<clause id="H2B3CC2D4F51146D38200F27C7F25CBE0"><enum>(i)</enum><text>uncertainty as to
the scope of benefits under any such program is minimized;</text>
</clause><clause id="HAD2A10F5E7724B37B5D72F79F0D4EEF"><enum>(ii)</enum><text>any instability in
market prices for agricultural commodities resulting from the reduction is
minimized; and</text>
</clause><clause id="H35AB87904D6A43CCA44504225116E2A0"><enum>(iii)</enum><text>normal
production and marketing relationships among agricultural commodities
(including both contract and non-contract commodities) are not
distorted.</text>
</clause><continuation-text continuation-text-level="subparagraph">In
meeting the criterion set out in clause (iii) of subparagraph (B) of the
preceding sentence, the President shall take into consideration that reductions
under an order may apply to programs for two or more agricultural commodities
that use the same type of production or marketing resources or that are
alternative commodities among which a producer could choose in making annual
production decisions.</continuation-text></subparagraph></paragraph><paragraph id="HEEFD75033D384A4F8037DDE7A743BF5F"><enum>(5)</enum><header>Certain
authority not to be limited</header><text>Nothing in this title shall limit or
reduce in any way any appropriation that provides the Commodity Credit
Corporation with funds to cover the Corporation’s net realized losses.</text>
</paragraph></subsection><subsection id="H95197C2412204F2D915660D485EDA93"><enum>(n)</enum><header>Postal Service
Fund</header><text>Notwithstanding any other provision of law, any
sequestration of the Postal Service Fund shall be accomplished by a payment
from that Fund to the General Fund of the Treasury, and the Postmaster General
of the United States shall make the full amount of that payment during the
fiscal year to which the presidential sequestration order applies.</text>
</subsection><subsection id="HC48F6D7C692943E181C66DE500BEA0F3"><enum>(o)</enum><header>Effects of
Sequestration</header><text>The effects of sequestration shall be as
follows:</text>
<paragraph id="H7FE1B8EF1D3A4967B589AE30E6599678"><enum>(1)</enum><text>Budgetary
resources sequestered from any account other than an entitlement trust,
special, or revolving fund account shall revert to the Treasury and be
permanently canceled.</text>
</paragraph><paragraph id="H0362DD8E87F345DB9B3FFBF82333794C"><enum>(2)</enum><text>Except as
otherwise provided, the same percentage sequestration shall apply to all
programs, projects, and activities within a budget account (with programs,
projects, and activities as delineated in the appropriation Act or accompanying
report for the relevant fiscal year covering that account, or for accounts not
included in appropriation Acts, as delineated in the most recently submitted
President’s budget).</text>
</paragraph><paragraph id="H561B25D8AD6F4D369736D982929B9116"><enum>(3)</enum><text>Administrative
regulations or similar actions implementing a sequestration shall be made
within 120 days of the sequestration order. To the extent that formula
allocations differ at different levels of budgetary resources within an
account, program, project, or activity, the sequestration shall be interpreted
as producing a lower total appropriation, with that lower appropriation being
obligated as though it had been the pre-sequestration appropriation and no
sequestration had occurred.</text>
</paragraph><paragraph id="H219305B2844F4B91BEE24000BE6C75DA"><enum>(4)</enum><text>Except as
otherwise provided, obligations in sequestered direct spending accounts shall
be reduced in the fiscal year in which a sequestration occurs and in all
succeeding fiscal years.</text>
</paragraph><paragraph id="H9B6442D2CB0547B3BF2C682E6971A6EE"><enum>(5)</enum><text>If an automatic
spending increase is sequestered, the increase (in the applicable index) that
was disregarded as a result of that sequestration shall not be taken into
account in any subsequent fiscal year.</text>
</paragraph><paragraph id="HBEB28608F8434EDC9E2C14C8FF71E115"><enum>(6)</enum><text>Except as
otherwise provided, sequestration in accounts for which obligations are
indefinite shall be taken in a manner to ensure that obligations in the fiscal
year of a sequestration and succeeding fiscal years are reduced, from the level
that would actually have occurred, by the applicable sequestration
percentage.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HCFEAEF233D8E43FE8B3CCA801BE3D87"><enum>(b)</enum><header>Conforming
Amendment</header><text>The table of contents set forth in 250(c) of the
Balanced Budget and Emergency Deficit Control Act of 1985 is amended by
amending the item relating to section 256 to read as follows:</text>
<quoted-block id="HE9C128682D35430A9DFA4BEABFD0977F" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 256. Exceptions, limitations, and
special
rules.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H84B54DE66F67415B8FC3DA22CFF4BC00"><enum>204.</enum><header>Point of
order</header>
<subsection id="H02D743B8F96F4D90B1796845305B0454"><enum>(a)</enum><header>Entitlement
Point of Order</header><text>Section 312 of the Congressional Budget Act of
1974 is amended by adding at the end the following new subsection:</text>
<quoted-block id="H30597B8E96DE474AA128AC0158604423" style="OLC">
<subsection id="H777B1BF4E875480FBDA044DFF790FEED"><enum>(g)</enum><header>Entitlement
Point of Order</header><text>It shall not be in order in the House of
Representatives or the Senate to consider any bill, joint resolution,
amendment, or conference report that—</text>
<paragraph id="HFF8A1501CDE64602AF85BF0309DC3140"><enum>(1)</enum><text>increases
aggregate level of direct spending for any ensuing fiscal year; or</text>
</paragraph><paragraph id="H6645A16A04A24CC9B75E232FCD915E12"><enum>(2)</enum><text>includes any
provision that has the effect of modifying the application of section 252A of
the Balanced Budget and Emergency Deficit Control Act of 1985 to any
entitlement program subject to sequestration or exempt from sequestration under
such
Act.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H45CF5A45446C4122BDB0B7BC8F90AB9E"><enum>205.</enum><header>Technical and
conforming amendments</header><text display-inline="no-display-inline">The
Balanced Budget and Emergency Deficit Control Act of 1985 is amended as
follows:</text>
<paragraph id="HAF08FC9C46954EE2B4681BCBFF4D172C"><enum>(1)</enum><text>Section 251(a)(1)
is amended by inserting <quote>, section 252A,</quote> after <quote>section
252</quote>.</text>
</paragraph><paragraph id="H901F9E92BCCF4651AA578817882C19A"><enum>(2)</enum><text>Section
254(c)(4)(B) is amended by inserting <quote>or section 252A</quote> after
<quote>section 252</quote>.</text>
</paragraph><paragraph id="HCA0C68628C7E471780D47DCA82491248"><enum>(3)</enum><text>Section 254(c) is
amended by redesignating paragraph (5) as paragraph (6) and by inserting after
paragraph (4) the following new paragraph:</text>
<quoted-block id="H6539CD98D0214B2DA80962CF526646F1" style="OLC">
<paragraph id="H8113E876BCD14C1CBAEFF5F56F2006F"><enum>(5)</enum><header>Direct spending
control sequestration reports</header><text>The preview reports shall set
forth, for the current year and the budget year, estimates for each of the
following:</text>
<subparagraph id="H5618E246D03E4ED500FEFC3C5B564055"><enum>(A)</enum><text>The total level of
direct spending for all programs, projects, and activities (excluding social
security).</text>
</subparagraph><subparagraph id="H242F0BE56D1E44FCA00343CDFFE913C9"><enum>(B)</enum><text>The sequestration
percentage or (if the required sequestration percentage is greater than the
maximum allowable percentage) percentages necessary to comply with section
252A.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HACFA11E0B35D4DD4B6A0FC4E29D14246"><enum>(4)</enum><text>Section 254(f) is
amended by redesignating paragraphs (4) and (5) as paragraphs (5) and (6) and
by inserting after paragraph (3) the following new paragraph:</text>
<quoted-block id="HC43EBE7D3D8941E7BAAFD3F000091BE" style="OLC">
<paragraph id="HE8A492A1C5064923B035B2B8E8E46726"><enum>(4)</enum><header>Direct spending
control sequestration reports</header><text>The final reports shall contain all
the information required in the direct spending control sequestration preview
reports. In addition, these reports shall contain, for the budget year, for
each account to be sequestered, estimates of the baseline level of
sequesterable budgetary resources and resulting outlays and the amount of
budgetary resources to be sequestered and resulting outlay reductions. The
reports shall also contain estimates of the effects on outlays of the
sequestration in each outyear for direct spending
programs.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H27410E0BE6CD4DF080182C51C5D652CD"><enum>(5)</enum><text>Section 258C(a)(1)
is amended by inserting <quote>, 252A,</quote> after <quote>section
252</quote>.</text>
</paragraph><paragraph id="H31F28F0C55D945A900C7608832E81D54"><enum>(6)</enum><text>Section 275(b) is
amended by striking <quote>2002</quote> and inserting <quote>2018</quote> and
by striking the second sentence thereof.</text>
</paragraph></section><section id="HC1E3EB72293348A1A53DC8A211B294A2"><enum>206.</enum><header>Establishment
of budget protection mandatory Account</header><text display-inline="no-display-inline">Title III of the Congressional Budget Act of
1974 (as amended by section 521) is further amended by adding at the end the
following new section:</text>
<quoted-block id="H4DFEA0AFB4C34F7CA901176600CF9014" style="traditional">
<section id="H92F159E5A7094E3F8BE4E79534AEB63C"><enum>320.</enum><header>Budget protection mandatory Account</header><subsection commented="no" display-inline="yes-display-inline" id="HFE28CC5521FD47EA969DDAFFB74DBDC"><enum>(a)</enum><header>Establishment of
Account</header><text>The chairman of the Committee on the Budget of the House
of Representatives and of the Senate shall each maintain an account to be known
as the <quote>Budget Protection Mandatory Account</quote>. The Account shall be
divided into entries corresponding to the House or Senate committees, as
applicable, that received allocations under section 302(a) in the most recently
adopted concurrent resolution on the budget, except that it shall not include
the Committee on Appropriations of that House and each entry shall consist of
the <quote>First Year Budget Protection Balance</quote> and the <quote>Five
Year Budget Protection Balance</quote>.</text>
</subsection><subsection id="H438F81355E684A859FD313E4E5590008"><enum>(b)</enum><header>Components</header><text>Each
entry shall consist only of amounts credited to it under subsection (c). No
entry of a negative amount shall be made.</text>
</subsection><subsection id="H9D00E9B001BA44B09666A1FEEBA13F57"><enum>(c)</enum><header>Crediting of
Amounts to Account</header><paragraph commented="no" display-inline="yes-display-inline" id="HFFD3E67EC1834EA0B7113EF4B731C821"><enum>(1)</enum><text>Whenever a Member or
Senator, as the case may be, offers an amendment to a bill that reduces the
amount of mandatory budget authority provided either under current law or
proposed to be provided by the bill under consideration, that Member or Senator
may state the portion of such reduction achieved in the first year covered by
the most recently adopted concurrent resolution on the budget and in addition
the portion of such reduction achieved in the first five years covered by the
most recently adopted concurrent resolution on the budget that shall be—</text>
<subparagraph id="H295334E53FF6425696D15EB54236A658" indent="up1"><enum>(A)</enum><text>credited to the First Year Budget
Protection Balance and the Five Year Budget Protection Balance in the House or
Senate, as applicable;</text>
</subparagraph><subparagraph id="H9AC971ADA7E34D0CBFCD89A21EB719A0" indent="up1"><enum>(B)</enum><text>used to offset an increase in other
new budget authority;</text>
</subparagraph><subparagraph id="H94E009CDF0C842D0A3B364C4B3C22528" indent="up1"><enum>(C)</enum><text>allowed to remain within the
applicable section 302(a) allocation; or</text>
</subparagraph><subparagraph id="HCA053895F8854CC7B0A2E24EFA2ED3AC" indent="up1"><enum>(D)</enum><text>used to offset a decrease in
receipts.</text>
</subparagraph></paragraph><continuation-text continuation-text-level="subsection">If no
such statement is made, the amount of reduction in new budget authority
resulting from the amendment shall be credited to the First Year Budget
Protection Balance and the Five Year Budget Protection Balance, as applicable,
if the amendment is agreed to.</continuation-text><paragraph id="HBC5D9BAA0F2B4FCEA6F447BC328E4669" indent="up1"><enum>(2)</enum><text>Except as provided by paragraph (3),
the chairman of the Committee on the Budget of the House or Senate, as
applicable, shall, upon the engrossment of any bill, other than an
appropriation bill, by the House or Senate, as applicable, credit to the
applicable entry balances amounts of new budget authority and outlays equal to
the net amounts of reductions in budget authority and in outlays resulting from
amendments agreed to by that House to that bill.</text>
</paragraph><paragraph id="H9A52969203BB4FDBBADC257CCAEE5E79" indent="up1"><enum>(3)</enum><text>When computing the net amounts of
reductions in budget authority and in outlays resulting from amendments agreed
to by the House or Senate, as applicable, to a bill, the chairman of the
Committee on the Budget of that House shall only count those portions of such
amendments agreed to that were so designated by the Members or Senators
offering such amendments as amounts to be credited to the First Year Budget
Protection Balance and the Five Year Budget Protection Balance, or that fall
within the last sentence of paragraph (1).</text>
</paragraph><paragraph id="HE6E43889666841CD0056A628BDD443" indent="up1"><enum>(4)</enum><text>The chairman of the Committee on the
Budget of the House and of the Senate shall each maintain a running tally of
the amendments adopted reflecting increases and decreases of budget authority
in the bill as reported to its House. This tally shall be available to Members
or Senators during consideration of any bill by that House.</text>
</paragraph></subsection><subsection id="HD2B054A5D9DB4F6F004819B9A5E7544C"><enum>(d)</enum><header>Calculation of
Lock-Box Savings in House and Senate</header><text>For the purposes of
enforcing section 302(a), upon the engrossment of any bill, other than an
appropriation bill, by the House or Senate, as applicable, the amount of budget
authority and outlays calculated pursuant to subsection (c)(3) shall be counted
against the 302(a) allocation provided to the applicable committee or
committees of that House which reported the bill as if the amount calculated
pursuant to subsection (c)(3) was included in the bill just engrossed.</text>
</subsection><subsection id="H9867BCA8D2A54A2B8D099028601E4B33"><enum>(e)</enum><header>Definition</header><text>As
used in this section, the term <term>appropriation bill</term> means any
general or special appropriation bill, and any bill or joint resolution making
supplemental, deficiency, or continuing appropriations through the end of
fiscal year 2009 or any subsequent fiscal year, as the case may
be.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><subtitle id="HEB9AC0DD670344DBBE39864061FB6BCB"><enum>B</enum><header>Discretionary
Spending Limits</header>
<section id="HEF235F72450943CE8363C34D8CBDB860"><enum>211.</enum><header>Enforcing
discretionary spending limits</header>
<subsection id="H7C9647030CE84873AC0890D0FEED6FBD"><enum>(a)</enum><header>Discretionary
Spending Limits</header><text>Sections 251(b) and (c) of the Balanced Budget
and Emergency Deficit Control of Act of 1985 are amended to read as
follows:</text>
<quoted-block id="H45D98B9447364EC0BA84E8F2FC240010" style="OLC">
<subsection id="HF43CE338F3A14433A9D8ED278E814617"><enum>(b)</enum><header>Discretionary
Spending Limit</header><text>As used in this part, the term <term>discretionary
spending limit</term> means—</text>
<paragraph id="H119AE46158B749388508D498E9FE0710"><enum>(1)</enum><text>with respect to
fiscal year 2009—</text>
<subparagraph id="H1A8B51E6A3EC4EEDA2471030338E0052"><enum>(A)</enum><text>$926,378,000,000
in new budget authority of which no more than $344,775,000,000 shall be for the
nondefense category; and</text>
</subparagraph><subparagraph id="H09DAC31F75804AD3B506255F2E06ACF9"><enum>(B)</enum><text>$992,720,000,000
in outlays of which no more than $376,020,000,000 shall be for the nondefense
category;</text>
</subparagraph></paragraph><paragraph id="HB96BA19203EA4D3E8D398D0253DA2D0"><enum>(2)</enum><text>with respect to
fiscal year 2010—</text>
<subparagraph id="H458D08E45334451BAAEB9C1970D70055"><enum>(A)</enum><text>$946,503,000,000
in new budget authority of which no more than $404,483,000,000 shall be for the
nondefense category; and</text>
</subparagraph><subparagraph id="H07A82747B21B498C9DF2CDF85CACC06"><enum>(B)</enum><text>$1,006,518,000,000
in outlays of which no more than $436,940,000,000 shall be for the nondefense
category;</text>
</subparagraph></paragraph><paragraph id="HAFF443C580614122AC66732433AC5129"><enum>(3)</enum><text>with respect to
fiscal year 2011—</text>
<subparagraph id="H395E9C7F2FCF400CB3733B90E3317134"><enum>(A)</enum><text>$969,387,000,000
in new budget authority of which no more than $421,343,000,000 shall be for the
nondefense category; and</text>
</subparagraph><subparagraph id="H32BF5461F1444ACB96D6F2A3D9968C00"><enum>(B)</enum><text>$1,024,601,000,000
in outlays of which no more than $469,240,000,000 shall be for the nondefense
category;</text>
</subparagraph></paragraph><paragraph id="H2505E22167974966B6A8D1002CBD4621"><enum>(4)</enum><text>with respect to
fiscal year 2012—</text>
<subparagraph id="H9CFCCCBAD96A45F098DDF174D277586B"><enum>(A)</enum><text>$992,727,000,000
in new budget authority of which no more than $435,814,000,000 shall be for the
nondefense category; and</text>
</subparagraph><subparagraph id="H52B1D1858AC74BD6877E3836CB192E00"><enum>(B)</enum><text>$1,034,486,000,000
in outlays of which no more than $485,720,000,000 shall be for the nondefense
category; and</text>
</subparagraph></paragraph><paragraph id="H7DD270EBE0CE4389BBD1096E61D6D6F4"><enum>(5)</enum><text>with respect to
fiscal year 2013—</text>
<subparagraph id="H6845E06E28954AF5B29720DBAEB8D2B1"><enum>(A)</enum><text>$1,016,876,000,000
in new budget authority of which no more than $451,015,000,000 shall be for the
nondefense category; and</text>
</subparagraph><subparagraph id="HB80D5A5538C9488F8BF07BB71E488B2C"><enum>(B)</enum><text>$1,061,007,000,000
in outlays of which no more than $501,500,000,000 shall be for the nondefense
category;</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HB1A6C55FB0C248E88F0722684E3DEAD"><enum>(b)</enum><header>Discretionary
Spending Limit Point of Order</header><text>Section 312 of the Congressional
Budget Act of 1974 (as amended by section 214(a)) is further amended by adding
at the end the following new subsection:</text>
<quoted-block id="H771E5DEA70B04568B2DFFDED991231C4" style="OLC">
<subsection id="HE1659859CDD54C1092C9E9035733C9CE"><enum>(h)</enum><header>Discretionary
Spending Limit Point of Order</header><text>It shall not be in order in the
House of Representatives or the Senate to consider any bill, joint resolution,
amendment, or conference report that—</text>
<paragraph id="H0A44A533E99647DC9C3D49FED6BD1BA6"><enum>(1)</enum><text>increases the
discretionary spending limits for any ensuing fiscal year after the budget
year; or</text>
</paragraph><paragraph id="H1B7C834DAD94410D96FDAFF9A16B7E87"><enum>(2)</enum><text>would cause the
discretionary spending limits for the budget year to be
breached.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HB6A563BBCC644276A55B2E5D03495723"><enum>(c)</enum><header>Advance
Appropriation Point of Order</header><text>Section 312 of the Congressional
Budget Act of 1974 (as amended by this section) is further amended by adding at
the end the following new subsection:</text>
<quoted-block id="H12031E1AE0C24C0D8E54A02867CCAF7" style="OLC">
<subsection id="H3DC6ECB6789D4A699D493D54B800F367"><enum>(i)</enum><header>Advance
Appropriation Point of Order</header><text>It shall not be in order in the
House of Representatives or the Senate to consider any appropriation bill or
joint resolution, or amendment thereto or conference report thereon, that
provides advance discretionary new budget authority that first becomes
available for any fiscal year after the budget year at an amount for any
program, project, or activity above the amount of appropriations for fiscal
year 2007 for such program, project, or
activity.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H2870A87BBA0A4165808974C5B7F558D9"><enum>212.</enum><header>Establishment
of budget protection discretionary Account</header>
<subsection id="HC30EF38B36B84FD7B5571FA604914FF0"><enum>(a)</enum><header>Budget
protection discretionary account</header><text>Title III of the Congressional
Budget Act of 1974 (as amended by section 206) is further amended by adding at
the end the following new section:</text>
<quoted-block id="H20AE84EE054C4B6582F5E9BBD71376FB" style="traditional">
<section id="HBFC3E1ADCF2F41D4B970C1798142B319"><enum>321.</enum><header>Budget protection discretionary Account</header><subsection commented="no" display-inline="yes-display-inline" id="H386B87CC2B3A414E9E3EF39700E6D5DE"><enum>(a)</enum><header>Establishment of
Account</header><text>The chairman of the Committee on the Budget of the House
of Representatives and of the Senate shall each maintain an account to be known
as the <quote>Budget Protection Discretionary Account</quote>. The Account
shall be divided into entries corresponding to the subcommittees of the
Committee on Appropriations of that House and each entry shall consist of the
<quote>Budget Protection Balance</quote>.</text>
</subsection><subsection id="HF77C53E3EACF4675810025AB78B2CFAA"><enum>(b)</enum><header>Components</header><text>Each
entry shall consist only of amounts credited to it under subsection (c). No
entry of a negative amount shall be made.</text>
</subsection><subsection id="H5E2A9F01B23B412D9D3B97BE20C9E5DB"><enum>(c)</enum><header>Crediting of
Amounts to Account</header><paragraph commented="no" display-inline="yes-display-inline" id="H7130E3E414E34202B71D94792BB28932"><enum>(1)</enum><text>Whenever a Member or
Senator, as the case may be, offers an amendment to an appropriation bill to
reduce new budget authority in any account, that Member or Senator may state
the portion of such reduction that shall be—</text>
<subparagraph id="H3E49B1C9C11144B6874B9BF923CE194" indent="up1"><enum>(A)</enum><text>credited to the Budget Protection
Balance;</text>
</subparagraph><subparagraph id="H9B29F5DDB0CF4E60B5DC2539AF9CC" indent="up1"><enum>(B)</enum><text>used to offset an increase in new
budget authority in any other account; or</text>
</subparagraph><subparagraph id="HB1DD79B21FE24DEFBBD19415BC39EC3" indent="up1"><enum>(C)</enum><text>allowed to remain within the
applicable section 302(b) suballocation.</text>
</subparagraph></paragraph><continuation-text continuation-text-level="subsection">If no
such statement is made, the amount of reduction in new budget authority
resulting from the amendment shall be credited to the Budget Protection
Balance, as applicable, if the amendment is agreed to.</continuation-text><paragraph id="H29DB799BA1074DC0964BDCD725DC9D3F" indent="up1"><enum>(2)</enum><text>Except as provided by paragraph (3),
the chairman of the Committee on the Budget of the House or Senate, as
applicable, shall, upon the engrossment of any appropriation bill by the House
or Senate, as applicable, credit to the applicable entry balances amounts of
new budget authority and outlays equal to the net amounts of reductions in
budget authority and in outlays resulting from amendments agreed to by that
House to that bill.</text>
</paragraph><paragraph id="H7EF2C6837DA34FF6B32DDEC3DC9E10EA" indent="up1"><enum>(3)</enum><text>When computing the net amounts of
reductions in new budget authority and in outlays resulting from amendments
agreed to by the House or Senate, as applicable, to an appropriation bill, the
chairman of the Committee on the Budget of that House shall only count those
portions of such amendments agreed to that were so designated by the Members
offering such amendments as amounts to be credited to the Budget Protection
Balance, or that fall within the last sentence of paragraph (1).</text>
</paragraph><paragraph id="HBD1D0DFBA0EC42A39B5FD6004F10A716" indent="up1"><enum>(4)</enum><text>The chairman of the Committee on the
Budget of the House and of the Senate shall each maintain a running tally of
the amendments adopted reflecting increases and decreases of budget authority
in the bill as reported to its House. This tally shall be available to Members
or Senators during consideration of any bill by that House.</text>
</paragraph></subsection><subsection id="H86912993B7314A859016AFCCBFAFCDAC"><enum>(d)</enum><header>Calculation of
Lock-Box Savings in House and Senate</header><paragraph commented="no" display-inline="yes-display-inline" id="HE93EBFC48E09409AB1435B75F302F216"><enum>(1)</enum><text>For the purposes of
enforcing section 302(a), upon the engrossment of any appropriation bill by the
House or Senate, as applicable, the amount of budget authority and outlays
calculated pursuant to subsection (c)(3) shall be counted against the 302(a)
allocation provided to the Committee on Appropriations as if the amount
calculated pursuant to subsection (c)(3) was included in the bill just
engrossed.</text>
</paragraph><paragraph id="HF6D4572BEAE6433281DEE5B640E618F3" indent="up1"><enum>(2)</enum><text>For purposes of enforcing section
302(b), upon the engrossment of any appropriation bill by the House or Senate,
as applicable, the 302(b) allocation provided to the subcommittee for the bill
just engrossed shall be deemed to have been reduced by the amount of budget
authority and outlays calculated, pursuant to subsection (c)(3).</text>
</paragraph></subsection><subsection id="H46D5803792634E50B5ECDDCA9DBC145"><enum>(e)</enum><header>Definition</header><text>As
used in this section, the term <term>appropriation bill</term> means any
general or special appropriation bill, and any bill or joint resolution making
supplemental, deficiency, or continuing appropriations through the end of
fiscal year 2010 or any subsequent fiscal year, as the case may
be.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HBB38C41DE7E24B35950004AF1D18004E"><enum>(b)</enum><header>Conforming
Amendment</header><text>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 319 the following new
items:</text>
<quoted-block id="HCEE9003DD7A0478291E8636677AC8861" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 320. Budget protection mandatory
account.</toc-entry>
<toc-entry level="section">Sec. 321. Budget protection discretionary
account.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H15D2F2CE611D4FCAB04F9CE9EC6B006E"><enum>213.</enum><header>Revenue
adjustment</header><text display-inline="no-display-inline">If an amendment is
designated to be used to offset a decrease in receipts for a fiscal year
pursuant to section 320(c)(1)(D) or section 321(c)(1)(D) of the Congressional
Budget Act of 1974, then the applicable level of revenues for such fiscal year
for purposes of section 311(a) of such Act shall be reduced by the amount of
such amendment.</text>
</section></subtitle><subtitle id="HDAC92AE551FF4F5494E842C739BEFBF2"><enum>C</enum><header>Long-Term Unfunded
Obligations</header>
<section id="H58D101DC98714147BC2BDC06DE295583"><enum>221.</enum><header>Long-term
unfunded obligations</header>
<subsection id="HBC6E513E7B72462A9C88B7824E0332B7"><enum>(a)</enum><header>In
General</header><text>Title IV of the Congressional Budget Act of 1974 is
amended by adding at the end the following:</text>
<quoted-block id="H729EE15F3254456E9BDFBD58AC4DB50" style="OLC">
<part id="H50B70A1F6CC449E38352FF8687BC82E0"><enum>C</enum><header>LONG-TERM UNFUNDED
OBLIGATIONS</header>
<section id="HB425205496E743B9A890D54498A2D67F"><enum>441.</enum><header>Analysis of
long-term unfunded obligations</header><text display-inline="no-display-inline">Beginning in fiscal year 2009, the
President’s budget submission shall include an analysis of long-term unfunded
obligations. This analysis shall include:</text>
<paragraph id="H46B5344CCD2D476B8CD789FEE4FB29B7"><enum>(1)</enum><text>An analysis of the
impact of long-term unfunded obligations in applicable entitlement programs on
the long-term level of unified budget outlays and the unified budget surplus or
deficit, in relation to the projected level of the Gross Domestic
Product.</text>
</paragraph><paragraph id="HDA744158341745549FAFACDFDC67D92"><enum>(2)</enum><text>A report on the
impact of legislation enacted during the previous session of Congress that
increases the long-term unfunded obligation in any applicable group of
entitlement program.</text>
</paragraph><paragraph id="HF41F1026F3A34E8AB64DCEA80172025D"><enum>(3)</enum><text>An analysis of the
impact of legislation proposed in the President’s budget on the long-term
unfunded obligation in any applicable entitlement program.</text>
</paragraph></section><section id="H71080BFDC3E045C49B15C3A295008EA5"><enum>442.</enum><header>Point of order
against legislation increasing long-term unfunded obligations</header><text display-inline="no-display-inline">It shall not be in order in the House of
Representatives or in the Senate to consider any bill, joint resolution,
motion, amendment, or conference report that would increase the long-term
unfunded obligation in any applicable group of entitlement programs.</text>
</section><section id="H1BE1106A27C042BDA908EE133BF129FB"><enum>443.</enum><header>Standard for
determining increase in long-term unfunded obligation</header><text display-inline="no-display-inline">For the purpose of this part, legislation
shall be considered to increase the long-term unfunded obligation of an
applicable group of entitlement programs if it either—</text>
<paragraph id="HB259F729794A4E6A9794E00000515B9D"><enum>(1)</enum><text>increases the
excess of the discounted present value of the expenditures of programs in the
group above the discounted present value of the dedicated receipts of programs
in the group over a long-term estimating period by more than an applicable
threshold; or</text>
</paragraph><paragraph id="H2C183A3338854D9AB801EDBE13CF2F12"><enum>(2)</enum><text>increases the
dollar level of the expenditures of programs in the group above the dedicated
receipts of programs in the group above the dedicated receipts of programs in
the group in the last year of the estimating period by more than the applicable
threshold.</text>
</paragraph></section><section id="HE598718986A048B0B952AC6795F8035B"><enum>444.</enum><header>Long-term
unfunded obligation analyses by Congressional Budget Office</header><text display-inline="no-display-inline">The Director of the Congressional Budget
Office shall, to the extent practicable, prepare for each bill or resolution of
a public character reported by any committee of the House of Representatives or
the Senate (except the Committee on Appropriations of each House), and submit
to such committee—</text>
<paragraph id="H73BC90554D9847AFB8603D01F09B4201"><enum>(1)</enum><text>an estimate of any
increase of the long-term unfunded obligation of any applicable entitlement
program which would be incurred in carrying out such bill or resolution as
measured by the increase of the excess of the discounted present value of the
expenditures of such program above the discounted present value of the
dedicated receipts of such program over a long-term estimating period by more
than an applicable threshold; and</text>
</paragraph><paragraph id="H95212DF43AA7426F935961355BB929F0"><enum>(2)</enum><text>an estimate of any
increase in the dollar level of the expenditures of such program above the
dedicated receipts of such program above the dedicated receipts of such program
in the last year of the estimating period by more than the applicable
threshold.</text>
</paragraph><continuation-text continuation-text-level="section">The
estimates and description so submitted shall be included in the report
accompanying such bill or resolution if timely submitted to such committee
before such report is filed.</continuation-text></section><section id="H444888DB751A43AFBE20B676BF25BE33"><enum>445.</enum><header>Definitions</header><text display-inline="no-display-inline">As used in this part—</text>
<paragraph id="H4DB23509E1AF47158B1E8E413894231E"><enum>(1)</enum><text>the term
<term>applicable entitlement program</term> shall be defined as any one of the
following programs:</text>
<subparagraph id="HD3B638F7C9E14AD49663B43C4C06DE5F"><enum>(A)</enum><text>Old Age,
Survivors, and Disability Insurance.</text>
</subparagraph><subparagraph id="H571599E97A1246D0B431F9C4E66547F2"><enum>(B)</enum><text>Medicare.</text>
</subparagraph><subparagraph id="HB10DB016A8C341A095C114C21CFB463"><enum>(C)</enum><text>Civilian retirement
and disability (combined Civil Service Retirement System and Federal Employees
Retirement System).</text>
</subparagraph><subparagraph id="H57735D9B4B834786B5D7F2F68E26D1CD"><enum>(D)</enum><text>Foreign Service
Retirement and Disability (combined Foreign Service Retirement and Disability
System and Foreign Service Pension System).</text>
</subparagraph><subparagraph id="H14191DA7FE844F9298FBEA6A8721347"><enum>(E)</enum><text>Retired Employees
Health Benefits.</text>
</subparagraph><subparagraph id="H2A77817D607144DCAD065E86135649A4"><enum>(F)</enum><text>Military
Retirement System.</text>
</subparagraph><subparagraph id="H0057444E78F14BBF9F2436796C358F1B"><enum>(G)</enum><text>Uniformed Services
Retiree Health Care System.</text>
</subparagraph><subparagraph id="H77084BFF8DD64F8AAA9DC94538D4E721"><enum>(H)</enum><text>Railroad
Retirement System (combined Rail Industry Pension Fund, Social Security
Equivalent Benefit Account, and National Railroad Retirement Investment
Trust).</text>
</subparagraph><subparagraph id="H274BF36843D44135A92B92DF9C35D9F8"><enum>(I)</enum><text>Supplemental
Security Income (SSI).</text>
</subparagraph><subparagraph id="H64C7994724694CAC97F7D5FF53DD621E"><enum>(J)</enum><text>For estimates made
on or after January 1, 2008, veterans disability compensation.</text>
</subparagraph><subparagraph id="H9AC678F4DB8C40AFB59EE96867B94106"><enum>(K)</enum><text>Any other
entitlement program with regularly available long-term estimates.</text>
</subparagraph></paragraph><paragraph id="HD93BD9E981CA4CFF80AADF392FC98BE1"><enum>(2)</enum><text>The term
<term>entitlement program with regularly available long-term estimates</term>
means a program for which the Director of the Congressional Budget Office, in
consultation with the Committees on the Budget of the House of Representatives
and the Senate and the Director of the Office of Management and Budget, has
determined that it is feasible to make long-term estimates of expenditures and
dedicated receipts based on explicit demographic, economic, and other
estimating assumptions. The Director shall notify the House and Senate
Committees on the Budget in writing, whenever he or she makes such a
determination.</text>
</paragraph><paragraph id="H7645F94C95644B90ACCBB45D2FA77EE3"><enum>(3)</enum><text>The term
<term>applicable group of entitlement programs</term> shall be defined as any
of the following:</text>
<subparagraph id="H623B481AF6684083A9841FA1AC722E45"><enum>(A)</enum><text>Old Age,
Survivors, and Disability Insurance.</text>
</subparagraph><subparagraph id="H068C7A832FCD4258973EBC6CE5075B2F"><enum>(B)</enum><text>All applicable
entitlement programs except Old Age, Survivors, and Disability
Insurance.</text>
</subparagraph></paragraph><paragraph id="H678119F6C97E4F228C1DFD3D87FC943"><enum>(4)</enum><text>The term
<term>long-term estimating period</term> shall be defined as 75 years, starting
with the current year, for all applicable entitlement programs except for Old
Age, Survivors, and Disability Insurance. For Old Age, Survivors, and
Disability Insurance, the term shall be defined as the infinite period of years
utilized in the most recent annual report of the Board of Trustees provided
pursuant to section 201(c)(2) of the <act-name parsable-cite="SSA">Social
Security Act</act-name>.</text>
</paragraph><paragraph id="H4F8C6042E89E4B7AAEF100DE6D07D549"><enum>(5)</enum><text>The term
<term>last year of the estimating period</term> shall be defined as the 75th
year of the long-term estimating period.</text>
</paragraph><paragraph id="H04C9B6239C124B9DA787FBDCFF906BE3"><enum>(6)</enum><text>The term
<term>dedicated receipts</term> shall be defined, for all applicable
entitlement programs other than Medicare, as taxes and fees received from the
public, payments received from Federal agencies on behalf of Federal agency
employees who are participants in the program, transfers received by the
program under section 7(c)(2) of the Railroad Retirement Act of 1974 (45 U.S.C.
231f(c)(2)), and transfers from the general fund of amounts equivalent to
income tax receipts under section 86 of the Internal Revenue Code. Dedicated
receipts shall not include payments from the general fund to amortize a
program’s unfunded liability or payments of interest on a program’s trust fund
holdings. For Medicare, <term>dedicated receipts</term> shall be defined
according to section 801(c)(3) of the Medicare Prescription Drug, Improvement,
and Modernization Act of 2003.</text>
</paragraph><paragraph id="HCC937397FDBD4F8EB9EB63FF1300BBC9"><enum>(7)</enum><text>The term
<term>expenditures</term> shall be defined, for all applicable entitlement
programs other than Medicare, to include benefit payments, administrative
expenses to the extent paid from a dedicated fund, and transfers to other
programs made under section 7(c)(2) of the Railroad Retirement Act of 1974 (45
U.S.C. 231f(c)(2)). For Medicare, <term>expenditures</term> shall be defined
according to section 801(c)(4) of the Medicare prescription Drug, Improvement,
and Modernization Act of 2003.</text>
</paragraph><paragraph id="HA3CFDEC23577481498F992867B647748"><enum>(8)</enum><text>The term
<term>applicable threshold</term> shall be defined as:</text>
<subparagraph id="H1B351D6C9188446590D77BBC7456C65"><enum>(A)</enum><text>For a group of
applicable entitlement programs over a long-term estimating period—</text>
<clause id="H4C5BDD560B0949AB8CA8E4B741AF3D87"><enum>(i)</enum><text>0.02 percent of
the present value of the taxable payroll of the group of programs over the
estimating period, for legislation affecting Old Age, Survivors, and Disability
Insurance or Medicare; and</text>
</clause><clause id="H263134390CEF48A99B51942E8767FFF8"><enum>(ii)</enum><text>1
percent of the present value of the expenditures over the estimating period of
the programs in the group that are affected by the legislation.</text>
</clause></subparagraph><subparagraph id="HDE3B88F261C84141889E476B8C06FABD"><enum>(B)</enum><text>For a group of
applicable entitlement programs in the last year of the estimating
period—</text>
<clause id="HCB5F11BBFFFC49B9B5AA3E2DD4A399F9"><enum>(i)</enum><text>0.02 percent of
the taxable payroll of the group of programs in that year, for legislation
affecting Old Age, Survivors, and Disability Insurance or Medicare;</text>
</clause><clause id="H0A6941080D35491B92B000ABA80A3A5"><enum>(ii)</enum><text>0.01 percent of
Gross Domestic Product in that year; or</text>
</clause><clause id="H7DC587C6545E426FBD252070168BFCB1"><enum>(iii)</enum><text>1 percent of the
expenditures in that year of the programs in the group that are affected by the
legislation.</text>
</clause></subparagraph></paragraph></section></part><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H3583CE899C8E4489879EDB9726A59962"><enum>(b)</enum><header>Conforming
Amendment</header><text>The table of contents set forth in section 1(b) of the
Congressional Budget and Impoundment Control Act of 1974 is amended by adding
after the item relating to section 428 the following:</text>
<quoted-block display-inline="no-display-inline" id="H66D14C660AB445BBB929B5A4DBDB367E" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="part">Part C—Long-Term Unfunded
Obligations</toc-entry>
<toc-entry level="section">Sec. 441. Analysis of long-term unfunded
obligations.</toc-entry>
<toc-entry level="section">Sec. 442. Point of order against
legislation increasing long-term unfunded obligations.</toc-entry>
<toc-entry level="section">Sec. 443. Standard for determining
increase in long-term unfunded obligation.</toc-entry>
<toc-entry level="section">Sec. 444. Long-term unfunded obligation
analyses by congressional budget office.</toc-entry>
<toc-entry level="section">Sec. 445.
Definitions.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H6142DAC68C9845BE84281B1CBF747727"><enum>222.</enum><header>Points of
order</header><text display-inline="no-display-inline">Section 904 of the
Congressional Budget Act of 1974 is amended as follows:</text>
<paragraph id="HD818186AC47B408EB385FB38D2EA9550"><enum>(1)</enum><text>Subsection (c)(1)
is amended by adding <quote>442,</quote> after <quote>310(d)(2),
313,</quote>.</text>
</paragraph><paragraph id="H651BC5C5ADF242878591DB61DBE728CA"><enum>(2)</enum><text>Subsection (d)(2)
is amended by adding <quote>442,</quote> after <quote>310(d)(2),
313,</quote>.</text>
</paragraph></section><section id="H956D3E09E29643FABF094E7F93F1B1B"><enum>223.</enum><header>Social
Security</header><text display-inline="no-display-inline">Section 13302(a) of
subtitle C of the Budget Enforcement Act of 1990 is amended to read as
follows:</text>
<quoted-block id="H88F31DF1D9B34DC3B660E550DFBA1924" style="OLC">
<subsection id="H583AA2DE147D4476A2389F53D2C0DD98"><enum>(a)</enum><header>In
General</header><text>It shall be not be in order in the House of
Representatives to consider any bill, or joint resolution, as reported, or any
amendment thereto or conference report thereon, if, upon enactment, such
legislation under consideration would increase the long-term unfunded
obligation of the OASDI program, as defined in section 443 of the Congressional
Budget Act of
1974.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><enum>III</enum><header>COMBATING WASTE,
FRAUD, AND ABUSE</header>
<subtitle id="H875C5FD60813401B83E1AC58D1D8BAB"><enum>A</enum><header>Sunsetting</header>
<section id="H64C07CB1DCCD409DA6CF625CF81C88B"><enum>301.</enum><header>Reauthorization
of discretionary programs and unearned entitlements</header>
<subsection id="H2EDBC59281FB4881AF000456D8A4B47B"><enum>(a)</enum><header>Fiscal Year
2011</header><text>Effective October 1, 2010, spending authority for each
unearned entitlement and high-cost discretionary spending program is frozen at
then current levels unless such spending authority is reauthorized after the
date of enactment of this Act.</text>
</subsection><subsection id="H573CD862EF114FAAA5F62BE7ACEB4FDA"><enum>(b)</enum><header>Fiscal Year
2012</header><text>Effective October 1, 2011, spending authority for each
discretionary spending program (not including high-cost discretionary spending
programs) is frozen at then current levels unless such spending authority is
reauthorized after the date of enactment of this Act.</text>
</subsection><subsection id="H846D554931F9408380A2E9CF79F6D0CD"><enum>(c)</enum><header>Definitions</header><text>For
purposes of this title—</text>
<paragraph id="H6B15EDBD76714396A44182EBA423D899"><enum>(1)</enum><text>the term
<term>unearned entitlement</term> means an entitlement not earned by service or
paid for in total or in part by assessments or contributions such as Social
Security, veterans’ benefits, retirement programs, and medicare; and</text>
</paragraph><paragraph id="H5CB20684784B497797C07C7E02E6CBC2"><enum>(2)</enum><text>the term
<term>high-cost discretionary program</term> means the most expensive one-third
of discretionary program within each budget function account.</text>
</paragraph></subsection></section><section id="HFFC083D6A2BB4A318F6F03C319251269"><enum>302.</enum><header>Point of
order</header>
<subsection id="H02691479648B4AF88ED19DEE5D19D109"><enum>(a)</enum><header>In
General</header><text>It shall not be in order in the House of Representatives
or the Senate to consider any bill, joint resolution, amendment, or conference
report that includes any provision that appropriates funds above current levels
unless such appropriation has been previously authorized by law.</text>
</subsection><subsection id="H1854D27EE03D4F61A8CCEEE306CC5579"><enum>(b)</enum><header>Waiver or
Suspension</header><text>This section may be waived or suspended in the House
of Representatives or the Senate only by the affirmative vote of two-thirds of
the Members, duly chosen and sworn.</text>
</subsection></section><section id="H018D245801294047886275007B5600D4"><enum>303.</enum><header>Decennial
sunsetting</header>
<subsection id="H4D1C7794D61E449D9457D0FE7D82A734"><enum>(a)</enum><header>First Decennial
Census Year</header><text>Effective on the first day of the fiscal year
beginning in the first decennial census year after the year 2010 and each 10
years thereafter, the spending authority described in section 301(a) is
terminated unless such spending authority is reauthorized after the last date
the spending authority was required to be reauthorized under this title.</text>
</subsection><subsection id="H0A558E4BB2604ED5A2EAF500870300A1"><enum>(b)</enum><header>First Decennial
Census Year</header><text>Effective on the first day of the fiscal year
beginning in the year after the first decennial census year after the year 2010
and each 10 years thereafter, the spending authority described in section
301(b) is terminated unless such spending authority is reauthorized after the
last date the spending authority was required to be reauthorized under this
title.</text>
</subsection></section></subtitle><subtitle id="H7EE47BF147424006909C888D064FAAC4"><enum>B</enum><header>Legislative
Line-Item Veto</header>
<section id="HDE585EA8EFEF4CD9B8FB597C364DC548"><enum>311.</enum><header>Legislative
line-item veto</header>
<subsection id="H8EC0AB8DE80D494DA1638BCF02CECE2F"><enum>(a)</enum><header>In
General</header><text>Title X of the Congressional Budget and Impoundment
Control Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/621">2 U.S.C. 621 et seq.</external-xref>) is amended by striking all of part B
(except for sections 1016 and 1013, which are redesignated as sections 1019 and
1020, respectively) and part C and inserting the following:</text>
<quoted-block id="H36F33DD32C5A4F418C51B592D3D44D4D" style="traditional">
<part id="HDEC62A59B24F42E08884E3EFEC77EB2"><enum>B</enum><header>Legislative
Line-Item Veto</header>
<section id="H84C04DCC1B6E40E18800E91DC7CED7B7"><enum>1011.</enum><header>Line-item veto authority</header><subsection commented="no" display-inline="yes-display-inline" id="HED7EEDC2C3BE495F819151C158ADF3CA"><enum>(a)</enum><header>Proposed
cancellations</header><text>Within 45 calendar days after the enactment of any
bill or joint resolution providing any discretionary budget authority, item of
direct spending, limited tariff benefit, or targeted tax benefit, the President
may propose, in the manner provided in subsection (b), the cancellation of any
dollar amount of such discretionary budget authority, item of direct spending,
or targeted tax benefit. If the 45 calendar-day period expires during a period
where either House of Congress stands adjourned sine die at the end of a
Congress or for a period greater than 45 calendar days, the President may
propose a cancellation under this section and transmit a special message under
subsection (b) on the first calendar day of session following such a period of
adjournment.</text>
</subsection><subsection id="H0385760EBC9349FE9B31259E2F120000"><enum>(b)</enum><header>Transmittal of
Special Message</header>
<paragraph id="HE4B5984988264314A1F45F030089F67C"><enum>(1)</enum><header>Special
message</header>
<subparagraph id="HCF24A887FE584A1DA42F2D56C71F713E"><enum>(A)</enum><header>In
general</header><text>The President may transmit to the Congress a special
message proposing to cancel any dollar amounts of discretionary budget
authority, items of direct spending, limited tariff benefits, or targeted tax
benefits.</text>
</subparagraph><subparagraph id="HBB9EC5049BA34580B648F178F1D1E6E0"><enum>(B)</enum><header>Contents of
special message</header><text>Each special message shall specify, with respect
to the discretionary budget authority, items of direct spending proposed,
limited tariff benefits, or targeted tax benefits to be canceled—</text>
<clause id="HF954660BCCDF4631B4EFEE1B9D50DD5F"><enum>(i)</enum><text>the dollar amount
of discretionary budget authority, the specific item of direct spending (that
OMB, after consultation with CBO, estimates to increase budget authority or
outlays as required by section 1017(9)), the limited tariff benefit, or the
targeted tax benefit that the President proposes be canceled;</text>
</clause><clause id="H2043F4A60DF74D0EB7AB0075E7EF5324"><enum>(ii)</enum><text>any account,
department, or establishment of the Government to which such discretionary
budget authority is available for obligation, and the specific project or
governmental functions involved;</text>
</clause><clause id="H24FAA613B9774340B5DF21FB2590A2E0"><enum>(iii)</enum><text>the reasons why
such discretionary budget authority, item of direct spending, limited tariff
benefit, or targeted tax benefit should be canceled;</text>
</clause><clause id="H9432F322F8814347B6E19700153CA662"><enum>(iv)</enum><text>to the maximum
extent practicable, the estimated fiscal, economic, and budgetary effect
(including the effect on outlays and receipts in each fiscal year) of the
proposed cancellation;</text>
</clause><clause id="HC37B51C8A80B4019B2369B17512675DA"><enum>(v)</enum><text>to
the maximum extent practicable, all facts, circumstances, and considerations
relating to or bearing upon the proposed cancellation and the decision to
propose the cancellation, and the estimated effect of the proposed cancellation
upon the objects, purposes, or programs for which the discretionary budget
authority, item of direct spending, limited tariff benefit, or the targeted tax
benefit is provided;</text>
</clause><clause id="HEF8C3E4650C747B88FA7B83763404400"><enum>(vi)</enum><text>a
numbered list of cancellations to be included in an approval bill that, if
enacted, would cancel discretionary budget authority, items of direct spending,
limited tariff benefit, or targeted tax benefits proposed in that special
message; and</text>
</clause><clause id="H0860937856F5424590131394A4BA0481"><enum>(vii)</enum><text>if the special
message is transmitted subsequent to or at the same time as another special
message, a detailed explanation why the proposed cancellations are not
substantially similar to any other proposed cancellation in such other
message.</text>
</clause></subparagraph><subparagraph id="H501F6A7D6A59443A91008DE421EFBE7C"><enum>(C)</enum><header>Duplicative
proposals prohibited</header><text>The President may not propose to cancel the
same or substantially similar discretionary budget authority, item of direct
spending, limited tariff benefit, or targeted tax benefit more than one time
under this Act.</text>
</subparagraph><subparagraph id="HAF584F999BFE4F7C80687E6066999450"><enum>(D)</enum><header>Maximum number
of special messages</header><text>The President may not transmit to the
Congress more than 5 special messages under this subsection related to any bill
or joint resolution described in subsection (a), but may transmit not more than
10 special messages for any omnibus budget reconciliation or appropriation
measure.</text>
</subparagraph></paragraph><paragraph id="H2BB5CE55D942437CB29978CEE09EC19"><enum>(2)</enum><header>Enactment of
approval bill</header>
<subparagraph id="HDB3BC05DC8BA400DAEC818B6AA587565"><enum>(A)</enum><header>Deficit
reduction</header><text>Amounts of budget authority, items of direct spending,
limited tariff benefit, or targeted tax benefits which are canceled pursuant to
enactment of a bill as provided under this section shall be dedicated only to
reducing the deficit or increasing the surplus.</text>
</subparagraph><subparagraph id="H0398E9CD691E4ED196C000C6F75CE324"><enum>(B)</enum><header>Adjustment of
levels in the concurrent resolution on the budget</header><text>Not later than
5 days after the date of enactment of an approval bill as provided under this
section, the chairs of the Committees on the Budget of the Senate and the House
of Representatives shall revise allocations and aggregates and other
appropriate levels under the appropriate concurrent resolution on the budget to
reflect the cancellation, and the applicable committees shall report revised
suballocations pursuant to section 302(b), as appropriate.</text>
</subparagraph><subparagraph id="H874544658A3C4D7DB7AA16542F024B17"><enum>(C)</enum><header>Adjustments to
statutory limits</header><text>After enactment of an approval bill as provided
under this section, the Office of Management and Budget shall revise applicable
limits under the Balanced Budget and Emergency Deficit Control Act of 1985, as
appropriate.</text>
</subparagraph><subparagraph id="H8D5B0186E7EE4CDE8E90C18BDA4DAD4F"><enum>(D)</enum><header>Trust funds and
special funds</header><text>Notwithstanding subparagraph (A), nothing in this
part shall be construed to require or allow the deposit of amounts derived from
a trust fund or special fund which are canceled pursuant to enactment of a bill
as provided under this section to any other fund.</text>
</subparagraph></paragraph></subsection></section><section id="HD507D30BF7424CC8AAEE7C000551E2DF"><enum>1012.</enum><header>Procedures for expedited
consideration</header><subsection commented="no" display-inline="yes-display-inline" id="H7FDCECB8A92D43D5BA5B61EF2E659E4F"><enum>(a)</enum><header>Expedited
Consideration</header>
<paragraph id="H94AA45462E904D098FC4B889D6007F98"><enum>(1)</enum><header>In
general</header><text>The majority leader or minority leader of each House or
his designee shall (by request) introduce an approval bill as defined in
section 1017 not later than the third day of session of that House after the
date of receipt of a special message transmitted to the Congress under section
1011(b). If the bill is not introduced as provided in the preceding sentence in
either House, then, on the fourth day of session of that House after the date
of receipt of the special message, any Member of that House may introduce the
bill.</text>
</paragraph><paragraph id="H54AFBC80EA3540EBB9D1EF903BDB7F1D"><enum>(2)</enum><header>Consideration in
the house of representatives</header>
<subparagraph id="H0B9D96475BD544DDB6D9C442907056AB"><enum>(A)</enum><header>Referral and
reporting</header><text>Any committee of the House of Representatives to which
an approval bill is referred shall report it to the House without amendment not
later than the seventh legislative day after the date of its introduction. If a
committee fails to report the bill within that period or the House has adopted
a concurrent resolution providing for adjournment sine die at the end of a
Congress, such committee shall be automatically discharged from further
consideration of the bill and it shall be placed on the appropriate
calendar.</text>
</subparagraph><subparagraph id="H4BF36ACE37194A109558C06F6B43AC25"><enum>(B)</enum><header>Proceeding to
consideration</header><text>After an approval bill is reported by or discharged
from committee or the House has adopted a concurrent resolution providing for
adjournment sine die at the end of a Congress, it shall be in order to move to
proceed to consider the approval bill in the House. Such a motion shall be in
order only at a time designated by the Speaker in the legislative schedule
within two legislative days after the day on which the proponent announces his
intention to offer the motion. Such a motion shall not be in order after the
House has disposed of a motion to proceed with respect to that special message.
The previous question shall be considered as ordered on the motion to its
adoption without intervening motion. A motion to reconsider the vote by which
the motion is disposed of shall not be in order.</text>
</subparagraph><subparagraph id="H78AC631F3A754C2788CC44091869F512"><enum>(C)</enum><header>Consideration</header><text>The
approval bill shall be considered as read. All points of order against an
approval bill and against its consideration are waived. The previous question
shall be considered as ordered on an approval bill to its passage without
intervening motion except five hours of debate equally divided and controlled
by the proponent and an opponent and one motion to limit debate on the bill. A
motion to reconsider the vote on passage of the bill shall not be in
order.</text>
</subparagraph><subparagraph id="HECF1B6EC4D604FB991487657D2A87BCD"><enum>(D)</enum><header>Senate
bill</header><text>An approval bill received from the Senate shall not be
referred to committee.</text>
</subparagraph></paragraph><paragraph id="HDF3F6BB29F804707A47D18A9F5ECD5CA"><enum>(3)</enum><header>Consideration in
the senate</header>
<subparagraph id="HDAC8A5BE205E4A8E9173FAA4D591CDA"><enum>(A)</enum><header>Motion to proceed
to consideration</header><text>A motion to proceed to the consideration of a
bill under this subsection in the Senate shall not be debatable. It shall not
be in order to move to reconsider the vote by which the motion to proceed is
agreed to or disagreed to.</text>
</subparagraph><subparagraph id="HD32C5039933F43789BB22C80C2E615CD"><enum>(B)</enum><header>Limits on
debate</header><text>Debate in the Senate on a bill under this subsection, and
all debatable motions and appeals in connection therewith (including debate
pursuant to subparagraph (D)), shall not exceed 10 hours, equally divided and
controlled in the usual form.</text>
</subparagraph><subparagraph id="HDC71431D07204B0DA456EB079CBCDDB1"><enum>(C)</enum><header>Appeals</header><text>Debate
in the Senate on any debatable motion or appeal in connection with a bill under
this subsection shall be limited to not more than 1 hour, to be equally divided
and controlled in the usual form.</text>
</subparagraph><subparagraph id="HC96870C01BB2407CB504EE48F8F1D1B0"><enum>(D)</enum><header>Motion to limit
debate</header><text>A motion in the Senate to further limit debate on a bill
under this subsection is not debatable.</text>
</subparagraph><subparagraph id="H34E7A6D3581247CE9DDB288EDBCE9B03"><enum>(E)</enum><header>Motion to
recommit</header><text>A motion to recommit a bill under this subsection is not
in order.</text>
</subparagraph><subparagraph id="H0C39137FF394427896118F87AD39D58C"><enum>(F)</enum><header>Consideration of
the house bill</header>
<clause id="HDBC55B25EE4C49A499B73800D64DC542"><enum>(i)</enum><header>In
general</header><text>If the Senate has received the House companion bill to
the bill introduced in the Senate prior to the vote required under paragraph
(1)(C), then the Senate may consider, and the vote under paragraph (1)(C) may
occur on, the House companion bill.</text>
</clause><clause id="H28A6CE785B20422298AAB492439C45"><enum>(ii)</enum><header>Procedure after
vote on senate bill</header><text>If the Senate votes, pursuant to paragraph
(1)(C), on the bill introduced in the Senate, then immediately following that
vote, or upon receipt of the House companion bill, the House bill shall be
deemed to be considered, read the third time, and the vote on passage of the
Senate bill shall be considered to be the vote on the bill received from the
House.</text>
</clause></subparagraph></paragraph></subsection><subsection id="H9DF26ABEB6BB4A8C00AED5FB5632A162"><enum>(b)</enum><header>Amendments
Prohibited</header><text display-inline="yes-display-inline">No amendment to,
or motion to strike a provision from, a bill considered under this section
shall be in order in either the Senate or the House of Representatives.</text>
</subsection></section><section display-inline="no-display-inline" id="HFE441404C4F745A68C19CCDC0029C4F3" section-type="subsequent-section"><enum>1013.</enum><header>Presidential deferral
authority</header><subsection commented="no" display-inline="yes-display-inline" id="H487DEC5500244D9AADDF322000CA7EDA"><enum>(a)</enum><header>Temporary Presidential
Authority To Withhold Discretionary Budget Authority</header>
<paragraph id="H9A70EB64960A4BAF92FBC70219574C69"><enum>(1)</enum><header>In
general</header><text>At the same time as the President transmits to the
Congress a special message pursuant to section 1011(b), the President may
direct that any dollar amount of discretionary budget authority to be canceled
in that special message shall not be made available for obligation for a period
not to exceed 45 calendar days from the date the President transmits the
special message to the Congress.</text>
</paragraph><paragraph id="HB629048E57384CCEAFD23BCA33EBE492"><enum>(2)</enum><header>Early
availability</header><text>The President shall make any dollar amount of
discretionary budget authority deferred pursuant to paragraph (1) available at
a time earlier than the time specified by the President if the President
determines that continuation of the deferral would not further the purposes of
this Act.</text>
</paragraph></subsection><subsection id="HC14D7D1B96464DD3BB7DC7DBB8A7138D"><enum>(b)</enum><header>Temporary
Presidential Authority To Suspend Direct Spending</header>
<paragraph id="H8D5F9B50DCDB4D2D8453C308AAF27C9B"><enum>(1)</enum><header>In
general</header><text>At the same time as the President transmits to the
Congress a special message pursuant to section 1011(b), the President may
suspend the implementation of any item of direct spending proposed to be
canceled in that special message for a period not to exceed 45 calendar days
from the date the President transmits the special message to the
Congress.</text>
</paragraph><paragraph id="HD87169A1015E47BB979E22A78C999326"><enum>(2)</enum><header>Early
availability</header><text>The President shall terminate the suspension of any
item of direct spending at a time earlier than the time specified by the
President if the President determines that continuation of the suspension would
not further the purposes of this Act.</text>
</paragraph></subsection><subsection id="H131E954BC97948F9BC9899B7D845511B"><enum>(c)</enum><header>Temporary
Presidential Authority To Suspend a Limited Tariff Benefit</header>
<paragraph id="HCD20BAD26BCB444EB62DF7023F226200"><enum>(1)</enum><header>In
general</header><text>At the same time as the President transmits to the
Congress a special message pursuant to section 1011(b), the President may
suspend the implementation of any limited tariff benefit proposed to be
canceled in that special message for a period not to exceed 45 calendar days
from the date the President transmits the special message to the
Congress.</text>
</paragraph><paragraph id="H5FC647DD857B4483A862797DDF82CBF"><enum>(2)</enum><header>Early
availability</header><text>The President shall terminate the suspension of any
limited tariff benefit at a time earlier than the time specified by the
President if the President determines that continuation of the suspension would
not further the purposes of this Act.</text>
</paragraph></subsection><subsection id="HC6FD93E0BE574573919DD176F36184C1"><enum>(d)</enum><header>Temporary
Presidential Authority To Suspend a Targeted Tax Benefit</header>
<paragraph id="H584AE83692EF4A90B32515004F5587D5"><enum>(1)</enum><header>In
general</header><text>At the same time as the President transmits to the
Congress a special message pursuant to section 1011(b), the President may
suspend the implementation of any targeted tax benefit proposed to be repealed
in that special message for a period not to exceed 45 calendar days from the
date the President transmits the special message to the Congress.</text>
</paragraph><paragraph id="H15304CB0CC304A7B835213D921B50960"><enum>(2)</enum><header>Early
availability</header><text>The President shall terminate the suspension of any
targeted tax benefit at a time earlier than the time specified by the President
if the President determines that continuation of the suspension would not
further the purposes of this Act.</text>
</paragraph></subsection><subsection id="HA2104998C750425FB284635CCFAFAAC9"><enum>(e)</enum><header>Extension of
45-Day Period</header><text>The President may transmit to the Congress not more
than one supplemental special message to extend the period to suspend the
implementation of any discretionary budget authority, item of direct spending,
limited tariff benefit, or targeted tax benefit, as applicable, by an
additional 45 calendar days. Any such supplemental message may not be
transmitted to the Congress before the 40th day of the 45-day period set forth
in the preceding message or later than the last day of such period.</text>
</subsection></section><section display-inline="no-display-inline" id="HAE191FC86A4844789756650048CFDCBC" section-type="subsequent-section"><enum>1014.</enum><header>Identification of targeted tax
benefits</header><subsection commented="no" display-inline="yes-display-inline" id="H449878FDE36F45A9842B5F3456A1E23C"><enum>(a)</enum><header>Statement</header><text>The
chairman of the Committee on Ways and Means of the House of Representatives and
the chairman of the Committee on Finance of the Senate acting jointly
(hereafter in this subsection referred to as the <term>chairmen</term>) shall
review any revenue or reconciliation bill or joint resolution which includes
any amendment to the Internal Revenue Code of 1986 that is being prepared for
filing by a committee of conference of the two Houses, and shall identify
whether such bill or joint resolution contains any targeted tax benefits. The
chairmen shall provide to the committee of conference a statement identifying
any such targeted tax benefits or declaring that the bill or joint resolution
does not contain any targeted tax benefits. Any such statement shall be made
available to any Member of Congress by the chairmen immediately upon
request.</text>
</subsection><subsection id="HA6E2AD9FDB6C45A40063EAC0967B4EB4"><enum>(b)</enum><header>Statement
Included in Legislation</header>
<paragraph id="HF01A19EA91124551B980382CAA40FBE9"><enum>(1)</enum><header>In
general</header><text>Notwithstanding any other rule of the House of
Representatives or any rule or precedent of the Senate, any revenue or
reconciliation bill or joint resolution which includes any amendment to the
Internal Revenue Code of 1986 reported by a committee of conference of the two
Houses may include, as a separate section of such bill or joint resolution, the
information contained in the statement of the chairmen, but only in the manner
set forth in paragraph (2).</text>
</paragraph><paragraph id="H626A1D7F2D8C4560AE9C9FC45110A97B"><enum>(2)</enum><header>Applicability</header><text>The
separate section permitted under subparagraph (A) shall read as follows:
<quote>Section 1021 of the Congressional Budget and Impoundment Control Act of
1974 shall ______ apply to ________.</quote>, with the blank spaces being
filled in with—</text>
<subparagraph id="H916843F17AE244B18FF4B012D96698A1"><enum>(A)</enum><text>in any case in
which the chairmen identify targeted tax benefits in the statement required
under subsection (a), the word <quote>only</quote> in the first blank space and
a list of all of the specific provisions of the bill or joint resolution in the
second blank space; or</text>
</subparagraph><subparagraph id="H403E9299D5C6418FB53C93F881008BFC"><enum>(B)</enum><text>in any case in
which the chairmen declare that there are no targeted tax benefits in the
statement required under subsection (a), the word <quote>not</quote> in the
first blank space and the phrase <quote>any provision of this Act</quote> in
the second blank space.</text>
</subparagraph></paragraph></subsection><subsection id="H26EB82062A7D44D9820030B7F1F187B1"><enum>(c)</enum><header>Identification
in Revenue Estimate</header><text>With respect to any revenue or reconciliation
bill or joint resolution with respect to which the chairmen provide a statement
under subsection (a), the Joint Committee on Taxation shall—</text>
<paragraph id="H2C624E3373BF4EEB8CF879CCFE813472"><enum>(1)</enum><text>in the case of a
statement described in subsection (b)(2)(A), list the targeted tax benefits in
any revenue estimate prepared by the Joint Committee on Taxation for any
conference report which accompanies such bill or joint resolution, or</text>
</paragraph><paragraph id="HB381655A596241BD9FAA04D8B1F4F43B"><enum>(2)</enum><text>in the case of a
statement described in 13 subsection (b)(2)(B), indicate in such revenue
estimate that no provision in such bill or joint resolution has been identified
as a targeted tax benefit.</text>
</paragraph></subsection><subsection id="H8151BCD72D194CD0BE833758FDB86D77"><enum>(d)</enum><header>President’s
Authority</header><text>If any revenue or reconciliation bill or joint
resolution is signed into law—</text>
<paragraph id="H8EAECE3CEB5842C0A600F8DE02C042FE"><enum>(1)</enum><text>with a separate
section described in subsection (b)(2), then the President may use the
authority granted in this section only with respect to any targeted tax benefit
in that law, if any, identified in such separate section; or</text>
</paragraph><paragraph id="H713CCB27F6374432A701F500FBDC46C8"><enum>(2)</enum><text>without a separate
section described in subsection (b)(2), then the President may use the
authority granted in this section with respect to any targeted tax benefit in
that law.</text>
</paragraph></subsection></section><section id="H049FF9E9167E4F168445F616EB4DD1E"><enum>1015.</enum><header>Treatment of
cancellations</header><text display-inline="yes-display-inline">The cancellation of any dollar amount of
discretionary budget authority, item of direct spending, limited tariff
benefit, or targeted tax benefit shall take effect only upon enactment of the
applicable approval bill. If an approval bill is not enacted into law before
the end of the applicable period under section 1013, then all proposed
cancellations contained in that bill shall be null and void and any such dollar
amount of discretionary budget authority, item of direct spending, limited
tariff benefit, or targeted tax benefit shall be effective as of the original
date provided in the law to which the proposed cancellations applied.</text>
</section><section id="H7919AAE6F78A4E5695BDA5ABB9623639"><enum>1016.</enum><header>Reports by Comptroller
General</header><text display-inline="yes-display-inline">With respect to each special message under
this part, the Comptroller General shall issue to the Congress a report
determining whether any discretionary budget authority is not made available
for obligation or item of direct spending, limited tariff benefit, or targeted
tax benefit continues to be suspended after the deferral authority set forth in
section 1013 of the President has expired.</text>
</section><section id="H0895C4ADB59D420C9E48560074E57BE6"><enum>1017.</enum><header>Definitions</header><text display-inline="yes-display-inline">As used in this part:</text>
<paragraph id="HF388665E4B86472DAACAEA997DB0D916"><enum>(1)</enum><header>Appropriation
law</header><text>The term <term>appropriation law</term> means an Act referred
to in <external-xref legal-doc="usc" parsable-cite="usc/1/105">section 105</external-xref> of title 1, United States Code, including any general or
special appropriation Act, or any Act making supplemental, deficiency, or
continuing appropriations, that has been signed into law pursuant to Article I,
section 7, of the Constitution of the United States.</text>
</paragraph><paragraph id="H944391CBDBE649E588DE2FE319F343B"><enum>(2)</enum><header>Approval
bill</header><text>The term <term>approval bill</term> means a bill or joint
resolution which only approves proposed cancellations of dollar amounts of
discretionary budget authority, items of new direct spending, limited tariff
benefits, or targeted tax benefits in a special message transmitted by the
President under this part and—</text>
<subparagraph id="H8AA2205D27CF41E8862EE737DE05A99B"><enum>(A)</enum><text>the title of which
is as follows: <quote>A bill approving the proposed cancellations transmitted
by the President on ___</quote>, the blank space being filled in with the date
of transmission of the relevant special message and the public law number to
which the message relates;</text>
</subparagraph><subparagraph id="HDC17EFFF12FB4D749C20B171031B10EA"><enum>(B)</enum><text>which does not
have a preamble; and</text>
</subparagraph><subparagraph id="HCE26A9846E87473FAB84D1DE0A6FBE5"><enum>(C)</enum><text>which provides only
the following after the enacting clause: <quote>That the Congress approves of
proposed cancellations ___</quote>, the blank space being filled in with a list
of the cancellations contained in the President’s special message, <quote>as
transmitted by the President in a special message on ____</quote>, the blank
space being filled in with the appropriate date, <quote>regarding
____.</quote>, the blank space being filled in with the public law number to
which the special message relates;</text>
</subparagraph><subparagraph id="H3EF3F4CE2E2440C99800D366D86871A0"><enum>(D)</enum><text>which only
includes proposed cancellations that are estimated by CBO to meet the
definition of discretionary budgetary authority or items of direct spending, or
limited tariff benefits, or that are identified as targeted tax benefits
pursuant to section 1014;</text>
</subparagraph><subparagraph id="HC89C3C0BB75B4E539D1CCFF3073763AE"><enum>(E)</enum><text display-inline="yes-display-inline">if any proposed cancellation other than
discretionary budget authority or targeted tax benefits is estimated by CBO to
not meet the definition of item of direct spending, then the approval bill
shall include at the end: <quote>The President shall cease the suspension of
the implementation of the following under section 1013 of the Impoundment
Control Act of 1974: _____</quote>, the blank space being filled in with the
list of such proposed cancellations; and</text>
</subparagraph><subparagraph id="H6D090181CBE942888DC426C8263F77C8"><enum>(F)</enum><text>if no CBO estimate
is available, then the entire list of legislative provisions proposed by the
President is inserted in the second blank space in subparagraph (C).</text>
</subparagraph></paragraph><paragraph id="HD6B8201A45A14FCDB5D8A3AEC8F51198"><enum>(3)</enum><header>Calendar
day</header><text>The term <term>calendar day</term> means a standard 24-hour
period beginning at midnight.</text>
</paragraph><paragraph id="H1BFF79AD2C6D4A64AF60D7338040CF48"><enum>(4)</enum><header>Cancel or
cancellation</header><text>The terms <term>cancel</term> or
<term>cancellation</term> means to prevent—</text>
<subparagraph id="HF997D497371644A60014CAA061E29335"><enum>(A)</enum><text>budget authority
from having legal force or effect;</text>
</subparagraph><subparagraph id="H5B00A5998A574BF7B3F48712FFECE13E"><enum>(B)</enum><text>in the case of
entitlement authority, to prevent the specific legal obligation of the United
States from having legal force or effect;</text>
</subparagraph><subparagraph id="HA7CAC50605A34D1A8727C25B49A6877"><enum>(C)</enum><text>in the case of the
food stamp program, to prevent the specific provision of law that provides such
benefit from having legal force or effect; or</text>
</subparagraph><subparagraph id="H76AEF7D403834050B4B5368878606529"><enum>(D)</enum><text>a limited tariff
benefit from having legal force or effect, and to make any necessary,
conforming statutory change to ensure that such limited tariff benefit is not
implemented; or</text>
</subparagraph><subparagraph id="H2590D280ECBE40D2A86D61C5B066041F"><enum>(E)</enum><text>a targeted tax
benefit from having legal force or effect, and to make any necessary,
conforming statutory change to ensure that such targeted tax benefit is not
implemented and that any budgetary resources are appropriately canceled.</text>
</subparagraph></paragraph><paragraph id="H8736ABF162CC4EE7A78FE681B7AEF2E2"><enum>(5)</enum><header>CBO</header><text>The
term <term>CBO</term> means the Director of the Congressional Budget
Office.</text>
</paragraph><paragraph id="HC083CF7144414ACBBD5769009DE58143"><enum>(6)</enum><header>Direct
spending</header><text>The term <term>direct spending</term> means—</text>
<subparagraph id="H625F6BB35DDE4C9384D8A142DCFBD0F2"><enum>(A)</enum><text>budget authority
provided by law (other than an appropriation law);</text>
</subparagraph><subparagraph id="H4D64981C7420462BBE66DCCE7BCCF26B"><enum>(B)</enum><text>entitlement
authority; and</text>
</subparagraph><subparagraph id="H338D237315C145038E936B4C916E3D7C"><enum>(C)</enum><text>the food stamp
program.</text>
</subparagraph></paragraph><paragraph id="H9DAFE2964E134FBB8D626845D3E35999"><enum>(7)</enum><header>Dollar amount of
discretionary budget authority</header><subparagraph commented="no" display-inline="yes-display-inline" id="HE58859B7CAAE4EE993DCFB3E38A4B89E"><enum>(A)</enum><text>Except as provided in
subparagraph (B), the term <term>dollar amount of discretionary budget
authority</term> means the entire dollar amount of budget authority—</text>
<clause id="HCB5D7ADEFDBD418388AFB3D4D8BF9D57"><enum>(i)</enum><text>specified in an
appropriation law, or the entire dollar amount of budget authority or
obligation limitation required to be allocated by a specific proviso in an
appropriation law for which a specific dollar figure was not included;</text>
</clause><clause id="H19529A8D6A4B4B6791862466AA832812"><enum>(ii)</enum><text>represented
separately in any table, chart, or explanatory text included in the statement
of managers or the governing committee report accompanying such law;</text>
</clause><clause id="H0099C2E82D2844A786E6909CCB13C7B"><enum>(iii)</enum><text>required to be
allocated for a specific program, project, or activity in a law (other than an
appropriation law) that mandates the expenditure of budget authority from
accounts, programs, projects, or activities for which budget authority is
provided in an appropriation law;</text>
</clause><clause id="H2B9C2A0C2FD94456897BF8D203D5FCB"><enum>(iv)</enum><text>represented by the
product of the estimated procurement cost and the total quantity of items
specified in an appropriation law or included in the statement of managers or
the governing committee report accompanying such law; or</text>
</clause><clause id="H2F6991A4178343D9814BBF3758F293"><enum>(v)</enum><text>represented by the
product of the estimated procurement cost and the total quantity of items
required to be provided in a law (other than an appropriation law) that
mandates the expenditure of budget authority from accounts, programs, projects,
or activities for which budget authority is provided in an appropriation
law.</text>
</clause></subparagraph><subparagraph id="HE636BFEC35BD4D7F944F086DC2EDA8C6"><enum>(B)</enum><text>The term
<term>dollar amount of discretionary budget authority</term> does not
include—</text>
<clause id="H5AF7B716D7E44C8282F1962F8F9C7222"><enum>(i)</enum><text>direct
spending;</text>
</clause><clause id="H5188CCB844194A5282EDE6B534436E71"><enum>(ii)</enum><text>budget authority
in an appropriation law which funds direct spending provided for in other
law;</text>
</clause><clause id="HA230E825EE7A4E829133ED4EE68EC1BD"><enum>(iii)</enum><text>any existing
budget authority canceled in an appropriation law; or</text>
</clause><clause id="HDE1BA29E1C5F400A86EBEAE15E799289"><enum>(iv)</enum><text>any restriction,
condition, or limitation in an appropriation law or the accompanying statement
of managers or committee reports on the expenditure of budget authority for an
account, program, project, or activity, or on activities involving such
expenditure.</text>
</clause></subparagraph></paragraph><paragraph id="H7C146FD793AB40FCA43FA8D38ADA541"><enum>(8)</enum><header>Item of direct
spending</header><text>The term <term>item of direct spending</term> means any
provision of law that results in an increase in budget authority or outlays for
direct spending relative to the most recent levels calculated consistent with
the methodology used to calculate a baseline under section 257 of the Balanced
Budget and Emergency Deficit Control Act of 1985 and included with a budget
submission under <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code, in the first
year or the 5-year period for which the item is effective. However, such item
does not include an extension or reauthorization of existing direct spending,
but instead only refers to provisions of law that increase such direct
spending.</text>
</paragraph><paragraph id="H52015E63091048C5BDDB358F62F36513"><enum>(9)</enum><header>Limited tariff
benefit</header><text>The term <term>limited tariff benefit</term> means any
provision of law that modifies the Harmonized Tariff Schedule of the United
States in a manner that benefits 10 or fewer entities (as defined in paragraph
(12)(B)).</text>
</paragraph><paragraph id="HECBEC423580546C4BADF685DC22F951D"><enum>(10)</enum><header>OMB</header><text>The
term <term>OMB</term> means the Director of the Office of Management and
Budget.</text>
</paragraph><paragraph id="H61D2E28175824E83B7AB363985002629"><enum>(11)</enum><header>Omnibus
reconciliation or appropriation measure</header><text>The term <term>omnibus
reconciliation or appropriation measure</term> means—</text>
<subparagraph id="H13385872B7E149B28CF500F400097D64"><enum>(A)</enum><text>in the case of a
reconciliation bill, any such bill that is reported to its House by the
Committee on the Budget; or</text>
</subparagraph><subparagraph id="HA80B832F3C5F4D618F22AEA846D3BD72"><enum>(B)</enum><text>in the case of an
appropriation measure, any such measure that provides appropriations for
programs, projects, or activities falling within 2 or more section 302(b)
suballocations.</text>
</subparagraph></paragraph><paragraph id="H832E44A2B4904686BE64D757CDCAFD96"><enum>(12)</enum><header>Targeted tax
benefit</header><subparagraph commented="no" display-inline="yes-display-inline" id="HC6D6CB5391AA4D85948FF26F6100F8E"><enum>(A)</enum><text>The
term <term>targeted tax benefit</term> means any revenue-losing provision that
provides a Federal tax deduction, credit, exclusion, or preference to ten or
fewer beneficiaries (determined with respect to either present law or any
provision of which the provision is a part) under the Internal Revenue Code of
1986 in any year for which the provision is in effect;</text>
</subparagraph><subparagraph id="H31865D392FD641D09EA49EACF93D233B"><enum>(B)</enum><text>for purposes of
subparagraph (A)—</text>
<clause id="HC45F87F7B8EB43D2AAE2ECA47A1B707"><enum>(i)</enum><text>all
businesses and associations that are members of the same controlled group of
corporations (as defined in section 1563(a) of the Internal Revenue Code of
1986) shall be treated as a single beneficiary;</text>
</clause><clause id="H52D8C7D1D24349FE802700D5F14CCF5"><enum>(ii)</enum><text>all shareholders,
partners, members, or beneficiaries of a corporation, partnership, association,
or trust or estate, respectively, shall be treated as a single
beneficiary;</text>
</clause><clause id="HD4ADD132354A4C3F994707E9BBF63BBE"><enum>(iii)</enum><text>all employees of
an employer shall be treated as a single beneficiary;</text>
</clause><clause id="H1EF0BB724D2B45A6920079E48078B0CD"><enum>(iv)</enum><text>all qualified
plans of an employer shall be treated as a single beneficiary;</text>
</clause><clause id="HC535CF841394444AAC74CBDB266524D9"><enum>(v)</enum><text>all beneficiaries
of a qualified plan shall be treated as a single beneficiary;</text>
</clause><clause id="H33C8A83A0FD94DE883F0E7A4FF4458E"><enum>(vi)</enum><text>all contributors
to a charitable organization shall be treated as a single beneficiary;</text>
</clause><clause id="HAC0E62A1703943C59D7194D826F6F09C"><enum>(vii)</enum><text>all holders of
the same bond issue shall be treated as a single beneficiary; and</text>
</clause><clause id="H844EB27BECE3402C8B06C7FAF9045FE7"><enum>(viii)</enum><text>if a
corporation, partnership, association, trust or estate is the beneficiary of a
provision, the shareholders of the corporation, the partners of the
partnership, the members of the association, or the beneficiaries of the trust
or estate shall not also be treated as beneficiaries of such provision;</text>
</clause></subparagraph><subparagraph id="H9D0944A81B0B4D07957BF7A6824CE309"><enum>(C)</enum><text>for the purpose of
this paragraph, the term <term>revenue-losing provision</term> means any
provision that is estimated to result in a reduction in Federal tax revenues
(determined with respect to either present law or any provision of which the
provision is a part) for any one of the two following periods—</text>
<clause id="HC847E567033147B19CEFFDF6C6E672CC"><enum>(i)</enum><text>the first fiscal
year for which the provision is effective; or</text>
</clause><clause id="HEA849F25AF0545F7BF1B794F459B63BC"><enum>(ii)</enum><text>the period of the
5 fiscal years beginning with the first fiscal year for which the provision is
effective;</text>
</clause></subparagraph><subparagraph id="H5F84A31EE8474748ABE8C02C7FC27B86"><enum>(D)</enum><text>the term
<term>targeted tax benefit</term> does not include any provision which applies
uniformly to an entire industry; and</text>
</subparagraph><subparagraph id="H87B9CD7C0DBF41FC8125DAF308B1ED87"><enum>(E)</enum><text>the terms used in
this paragraph shall have the same meaning as those terms have generally in the
Internal Revenue Code of 1986, unless otherwise expressly provided.</text>
</subparagraph></paragraph></section><section id="H86F3622B2CCF48DA97CD00BB7426F9B8"><enum>1018.</enum><header>Expiration</header><text display-inline="yes-display-inline">This title shall have no force or effect on
or after October 1,
2012</text>
</section></part><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H8E88FF7CF6F54C6A932C5CB7A05F31DA"><enum>312.</enum><header>Technical and
conforming amendments</header>
<subsection id="H8B66FF05F7DF4D8BB9AB04B436AEFC66"><enum>(a)</enum><header>Exercise of
Rulemaking Powers</header><text>Section 904 of the Congressional Budget Act of
1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/621">2 U.S.C. 621</external-xref> note) is amended—</text>
<paragraph id="HA647113F38A94AEF85FEEE05C560362B"><enum>(1)</enum><text>in subsection (a),
by striking <quote>1017</quote> and inserting <quote>1012</quote>; and</text>
</paragraph><paragraph id="H954E88DFFB3C4964A298618195D7AD32"><enum>(2)</enum><text>in subsection (d),
by striking <quote>section 1017</quote> and inserting <quote>section
1012</quote>.</text>
</paragraph></subsection><subsection id="HCD72E7F3AB7649A39BAFD25251BCE0C"><enum>(b)</enum><header>Analysis by
Congressional Budget Office</header><text>Section 402 of the Congressional
Budget Act of 1974 is amended by inserting <quote>(a)</quote> after
<quote>402.</quote> and by adding at the end the following new
subsection:</text>
<quoted-block id="H448283EA1C7A49E3ABF2B5A5B5CF104E" style="OLC">
<subsection id="HAD95E908E7F34AAFA140A7CEB7729816"><enum>(b)</enum><text>Upon the receipt
of a special message under section 1011 proposing to cancel any item of direct
spending, the Director of the Congressional Budget Office shall prepare an
estimate of the savings in budget authority or outlays resulting from such
proposed cancellation relative to the most recent levels calculated consistent
with the methodology used to calculate a baseline under section 257 of the
Balanced Budget and Emergency Deficit Control Act of 1985 and included with a
budget submission under <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code, and
transmit such estimate to the chairmen of the Committees on the Budget of the
House of Representatives and
Senate.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H698C6DD4FDED4518978F77D09D7BC5D7"><enum>(c)</enum><header>Clerical
Amendments</header><paragraph commented="no" display-inline="yes-display-inline" id="HADFDF629E152485BB1979FB95754F8B"><enum>(1)</enum><text>Section 1(a) of the
Congressional Budget and Impoundment Control Act of 1974 is amended by striking
the last sentence.</text>
</paragraph><paragraph id="H7F5D538DCBBA4A3C8D9C171638232436" indent="up1"><enum>(2)</enum><text>Section 1022(c) of such Act (as
redesignated) is amended is amended by striking <quote>rescinded or that is to
be reserved</quote> and insert <quote>canceled</quote> and by striking
<quote>1012</quote> and inserting <quote>1011</quote>.</text>
</paragraph><paragraph id="H042FB26A49A849E08B867E00EE67BB59" indent="up1"><enum>(3)</enum><header>Table of Contents</header><text>The
table of contents set forth in section 1(b) of the Congressional Budget and
Impoundment Control Act of 1974 is amended by deleting the contents for parts B
and C of title X and inserting the following:</text>
<quoted-block id="H677EEC86F5404A739EAA080789D2FFB7" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="part">Part B—Legislative Line-Item Veto</toc-entry>
<toc-entry level="section">Sec. 1011. Line-item veto
authority.</toc-entry>
<toc-entry level="section">Sec. 1012. Procedures for expedited
consideration.</toc-entry>
<toc-entry level="section">Sec. 1013. Presidential deferral
authority.</toc-entry>
<toc-entry level="section">Sec. 1014. Identification of targeted tax
benefits.</toc-entry>
<toc-entry level="section">Sec. 1015. Treatment of
cancellations.</toc-entry>
<toc-entry level="section">Sec. 1016. Reports by comptroller
general.</toc-entry>
<toc-entry level="section">Sec. 1017. Definitions.</toc-entry>
<toc-entry level="section">Sec. 1018. Expiration.</toc-entry>
<toc-entry level="section">Sec. 1019. Suits by Comptroller
General.</toc-entry>
<toc-entry level="section">Sec. 1020. Proposed deferrals of budget
authority.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H6A3F6F310EC94409A4289483C5BEA0F5"><enum>(d)</enum><header>Effective
Date</header><text>The amendments made by this Act shall take effect on the
date of its enactment and apply only to any dollar amount of discretionary
budget authority, item of direct spending, or targeted tax benefit provided in
an Act enacted on or after the date of enactment of this Act.</text>
</subsection></section><section id="H2E78FF60E29046C38916295C0919358B"><enum>313.</enum><header>Sense of
Congress on abuse of proposed cancellations</header><text display-inline="no-display-inline">It is the sense of Congress no President or
any executive branch official should condition the inclusion or exclusion or
threaten to condition the inclusion or exclusion of any proposed cancellation
in any special message under this section upon any vote cast or to be cast by
any Member of either House of Congress.</text>
</section><section id="HD16DAF4E835C40F980B6F358E444A58D"><enum>314.</enum><header>Amending House
rules to require that rescission bills always be considered under open
rules</header>
<subsection id="H5BFE35F24E1A49C4B7A4038DEA5E3000"><enum>(a)</enum><header>Rules
Amendment</header><text>Clause 6(c) of rule XIII of the Rules of the House of
Representatives is amended by striking the period and inserting <quote>;
or</quote> at the end of subparagraph (2) and by adding at the end the
following new subparagraph:</text>
<quoted-block id="H2F9E12DAF5874C339889BF5593FF6C57" style="OLC">
<paragraph id="H7DBDDDFC4A85401CA49C87209E17F4A6" indent="up1"><enum>(3)</enum><text>a rule or order that would limit any
amendment that would otherwise be in order to a rescission
bill.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H5B826836E72F40DE005EB34400006053"><enum>(b)</enum><header>Automatic
Allocations Reductions</header><text>Clause 4(b) of rule X of the Rules of the
House of Representatives is amended by inserting <quote>(1)</quote> after
<quote>(b)</quote>, by redesignating subparagraphs (1) through (6) as
subdivisions (A) through (F), respectively, and by adding at the end the
following:</text>
<quoted-block id="H4B0640E8C8CB4371A69ED286B27DFFA" style="OLC">
<paragraph id="HE80E83DEFECB4C22AFCB17FB2BD333A5" indent="up1"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H4D07578807C943579CF26EA77C0059F0"><enum>(A)</enum><text>Whenever a rescission
bill passes the House, the Committee on the Budget shall immediately reduce the
applicable allocations under section 302(a) of the Congressional Budget Act of
1974 by the total amount of reductions in budget authority and in outlays
resulting from such rescission bill.</text>
</subparagraph><subparagraph id="H82097C9E9FCE4CACAF16B4D9CD75DEF2" indent="up1"><enum>(B)</enum><text>As used in this subparagraph, the
term <term>rescission bill</term> means a bill or joint resolution which only
rescinds, in whole or in part, budget authority and which includes only titles
corresponding to the most recently enacted appropriation bills that continue to
include unobligated
balances.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H9A37726156114800BFD5327EC64DFD24"><enum>(c)</enum><header>Privileged
Discharge Resolutions</header><text>Rule XIII of the Rules of the House of
Representatives is amended by adding at the end the following new
clause:</text>
<quoted-block id="H2297868EF5E44D65AE00D7E3C1F7F713" style="OLC">
<subsection id="HF820675ABE0F44BAB88700DE1C4F4F7B"><enum>8. (a)
</enum><text>By February 1, May 1, July 30, and November 11 of each session,
the majority leader shall introduce a rescission bill. If such bill is not
introduced by that date, then whenever a rescission bill is introduced during a
session on or after that date, a motion to discharge the committee from its
consideration shall be privileged after the 10-legislative day period beginning
on that date for the first 5 such bills.</text>
</subsection><subsection id="HAC9F8437BD34444B9FF2800027ECD99"><enum>(b)</enum><text>It shall not be in
order to offer any amendment to a rescission bill except an amendment that
increases the amount of budget authority that such bill rescinds.</text>
</subsection><subsection id="H535D535993194D13A16C35A4813B44D7"><enum>(c)</enum><text>As used in this
clause and in clause 6, the term <term>rescission bill</term> has the meaning
given such term in clause 4(b)(2)(B) of rule
X.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HE963A5413F924421A0DE0028B2212EB"><enum>(d)</enum><header>Point of
Order</header><text>Rule XXI of the Rules of the House of Representatives (as
amended by subsection (d)) is further amended by adding at the end the
following new clause:</text>
<quoted-block id="H41039553278B4408B0AB2CE5CF9E455B" style="OLC">
<subsection id="H398F3EEA92BF484A96008768C4CC7C2B"><enum></enum><text>9. (a) It
shall not be in order to consider any rescission bill, or conference report
thereon or amendment thereto, unless—</text>
<paragraph id="H55C64C8B91CF4C30A492C431B618A9EA"><enum>(1)</enum><text>in the case of
such bill or conference report thereon, it is made available to Members and the
general public on the Internet for at least 48 hours before its consideration;
or</text>
</paragraph><paragraph id="H14D12D5997894CAF9115E097A600F1B5"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H39C086528A9546819FF8765BC3A6D325"><enum>(A)</enum><text>in the case of an
amendment to such rescission bill made in order by a rule, it is made available
to Members and the general public on the Internet within one hour after the
rule is filed; or</text>
</subparagraph><subparagraph id="HB5BDD02303A349C399A615C74395F83" indent="up1"><enum>(B)</enum><text>in the case of an amendment under an
open rule, it is made available to Members and the general public on the
Internet immediately after being offered; in a format that is searchable and
sortable.</text>
</subparagraph></paragraph></subsection><subsection id="HFA894E1E283D4ABB9CF739B7F12D087"><enum>(b)</enum><text>No amendment to an
amendment to a rescission bill shall be in order unless germane to the
amendment to which it is
offered.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="H899DE25B75A84BB699E68051AC238B40"><enum>C</enum><header>Commission to
Eliminate Waste, Fraud, and Abuse</header>
<section id="H0F13C52F066840CC8DAD05576DE017EE"><enum>331.</enum><header>Establishment
of Commission</header>
<subsection id="H424BB003BA8F4700B845C2E592EDF1DD"><enum>(a)</enum><header>Establishment</header><text>There
is established the Commission to Eliminate Waste, Fraud, and Abuse (hereafter
in this subtitle referred to as the <quote>Commission</quote>).</text>
</subsection><subsection id="HF0E82146EB924B2C97AC40805D7513F6"><enum>(b)</enum><header>Membership</header>
<paragraph id="HB4ED4C16CF884D72B5464DF35900CA51"><enum>(1)</enum><header>In
general</header><text>The Commission shall consist of 12 members, all of whom
shall be appointed by the President not later than 90 days after the date of
enactment of this Act.</text>
</paragraph><paragraph id="HA6422AD96F0246D5817FDF50BF7BA391"><enum>(2)</enum><header>Chairperson and
vice chairperson</header><text>The President shall designate a chairperson and
vice chairperson from among the members of the Commission.</text>
</paragraph></subsection><subsection id="H238DB2BBB80E4FFBAC881BC2ECA6777C"><enum>(c)</enum><header>Period of
Appointment; Vacancies</header><text>Members shall be appointed for the life of
the Commission. Any vacancy in the Commission shall not affect its powers, but
shall be filled in the same manner as the original appointment.</text>
</subsection><subsection id="H6E5D3595386544329969882055671FF5"><enum>(d)</enum><header>Meetings</header>
<paragraph id="H95A2332072E448D3A7791817ABED6381"><enum>(1)</enum><header>Initial
meeting</header><text>Not later than 30 days after the date on which all
members of the Commission have been appointed, the Commission shall hold its
first meeting.</text>
</paragraph><paragraph id="H3D83CC0C60C746C49E1ECFA8278B6AF"><enum>(2)</enum><header>Subsequent
meetings</header><text>The Commission shall meet at the call of the
chairperson.</text>
</paragraph></subsection><subsection id="H51697B8971F144BDAE99449FC4050907"><enum>(e)</enum><header>Quorum</header><text>A
majority of the members of the Commission shall constitute a quorum, but a
lesser number of members may hold hearings.</text>
</subsection></section><section id="HB9A993372D704ED29DE6ADB562BFEEA4"><enum>332.</enum><header>Duties of the
Commission</header>
<subsection id="H4786586F16A2400BBA98E414BC7C70B6"><enum>(a)</enum><header>Definitions</header><text>In
this section, the following definitions shall apply:</text>
<paragraph id="HF6867872FFDB4A1CBAD7098D494D0AE"><enum>(1)</enum><header>Agency</header><text>The
term <term>agency</term> has the meaning given the term <term>Executive
agency</term> under <external-xref legal-doc="usc" parsable-cite="usc/5/105">section 105</external-xref> of title 5, United States Code.</text>
</paragraph><paragraph id="H89B5F7F31780442E907EB500D6B0573F"><enum>(2)</enum><header>Program</header><text>The
term <term>program</term> means any activity or function of an agency.</text>
</paragraph></subsection><subsection id="H4A9555DBE8F446B1805E00102710A448"><enum>(b)</enum><header>In
General</header><text>The Commission shall—</text>
<paragraph id="HFD1879AC0D114B6E94A728CF2DBF00B8"><enum>(1)</enum><text>evaluate all
agencies and programs within those agencies, using the criteria under
subsection (c); and</text>
</paragraph><paragraph id="H0B3CA35763234B0D9BCAA2872913862B"><enum>(2)</enum><text>submit to
Congress—</text>
<subparagraph id="H2453CFCB79DD41D8B0FA4908AF4792C7"><enum>(A)</enum><text>a plan with
recommendations of the agencies and programs that should be realigned or
eliminated; and</text>
</subparagraph><subparagraph id="H200685D30FD94A38ABBE9164E0830299"><enum>(B)</enum><text>proposed
legislation to implement the plan described under subparagraph (A).</text>
</subparagraph></paragraph></subsection><subsection id="H664C9C7655BB44A99043ADCCA7882D5D"><enum>(c)</enum><header>Criteria</header>
<paragraph id="HF441F984950F4633A18756187DAE8D2C"><enum>(1)</enum><header>Duplicative</header><text>If
two or more agencies or programs are performing the same essential function and
the function can be consolidated or streamlined into a single agency or
program, the Commission shall recommend that the agency or program be
realigned.</text>
</paragraph><paragraph id="H7A9EA3EAF3D44467B9EA493B3867001B"><enum>(2)</enum><header>Wasteful or
inefficient</header><text>The Commission shall recommend the realignment or
elimination of any agency or program that has wasted Federal funds by—</text>
<subparagraph id="H1504161695FB4231A0F78B672214717D"><enum>(A)</enum><text>egregious
spending;</text>
</subparagraph><subparagraph id="HED7EC8D1B72E48AE82459ED59DF18FE4"><enum>(B)</enum><text>mismanagement of
resources and personnel; or</text>
</subparagraph><subparagraph id="H4FC9B694329B488EBB387473968E5E1C"><enum>(C)</enum><text>use of such funds
for personal benefit or the benefit of a special interest group.</text>
</subparagraph></paragraph><paragraph id="H116196E637EB497A854F501D3F7C00AC"><enum>(3)</enum><header>Outdated,
irrelevant, or failed</header><text>The Commission shall recommend the
elimination of any agency or program that—</text>
<subparagraph id="HBC81A2C4AF734635BBFBE851275F6941"><enum>(A)</enum><text>has completed its
intended purpose;</text>
</subparagraph><subparagraph id="HCCEB238B6179447E87C7F5B8CEA95E35"><enum>(B)</enum><text>has become
irrelevant; or</text>
</subparagraph><subparagraph id="H0BD65A01D148409380D93198C3F2BB9D"><enum>(C)</enum><text>has failed to meet
its objectives.</text>
</subparagraph></paragraph></subsection><subsection id="HED5E5E296D2845A288B6C19083E72E3F"><enum>(d)</enum><header>Systematic
Assessment of Programs</header>
<paragraph id="H8A0A0A0FB6094F86A5EB5DBC49411618"><enum>(1)</enum><header>In
general</header><text>Not later than 1 year after the date of enactment of this
Act, the President shall—</text>
<subparagraph id="H4F7F49AE2CED458591003914FEEA58FA"><enum>(A)</enum><text>establish a
systematic method for assessing the effectiveness and accountability of agency
programs; and</text>
</subparagraph><subparagraph id="H516FF379D7944D9AB6E88DC79197A400"><enum>(B)</enum><text>submit, to the
Commission, assessments of not less than <fraction>½</fraction> of all programs
covered under subsection (b)(1) that use the method established under
subparagraph (A).</text>
</subparagraph></paragraph><paragraph id="HBCD6DC48E36447F4984216B437BBDAAE"><enum>(2)</enum><header>Method
objectives</header><text>The method established under paragraph (1)
shall—</text>
<subparagraph id="H255067A69A4A4528A1BD99E8887789A2"><enum>(A)</enum><text>recognize
different types of Federal programs;</text>
</subparagraph><subparagraph id="H3ADCF891D86841B081CD6666FEF1809E"><enum>(B)</enum><text>assess programs
based primarily on the achievement of performance goals (as defined under
<external-xref legal-doc="usc" parsable-cite="usc/31/1115">section 1115(f)(4)</external-xref> of title 31, United States Code); and</text>
</subparagraph><subparagraph id="H130434A79A8744389F8F5ECE4EEE681"><enum>(C)</enum><text>assess programs
based in part on the adequacy of the program’s performance measures, financial
management, and other factors determined by the President.</text>
</subparagraph></paragraph><paragraph id="HF5AD4988C58F4A49A9B150EC326567DE"><enum>(3)</enum><header>Development</header><text>The
method established under paragraph (1) shall not be implemented until it has
been reviewed and accepted by the Commission.</text>
</paragraph><paragraph id="H7B8BC56B429F46D384A3927BC70FE70"><enum>(4)</enum><header>Consideration of
assessments</header><text>The Commission shall consider assessments submitted
under this subsection when evaluating programs under subsection (b)(1).</text>
</paragraph></subsection><subsection id="H96893EFC3A6444CCAE37BED6D430EE7B"><enum>(e)</enum><header>Common
Performance Measures</header><text>Not later than 1 year after the date of
enactment of this Act, the President shall identify common performance measures
for programs covered in subsection (b)(1) that have similar functions and, to
the extent feasible, provide the Commission with data on such performance
measures.</text>
</subsection><subsection id="HB6130BFEE2CB4EABB4751981635D6F24"><enum>(f)</enum><header>Report</header>
<paragraph id="H0F94069C589C44B793EE6DC051169CF6"><enum>(1)</enum><header>In
general</header><text>Not later than 2 years after the date of enactment of
this Act, the Commission shall submit to the President and Congress a report
that includes—</text>
<subparagraph id="HFD702FCD49D14FB8B73F15D49950D604"><enum>(A)</enum><text>the plan described
under subsection (b)(2)(A), with supporting documentation for all
recommendations; and</text>
</subparagraph><subparagraph id="HA7CD0493F7774715BCB040005B1876FD"><enum>(B)</enum><text>the proposed
legislation described under subsection (b)(2)(B).</text>
</subparagraph></paragraph><paragraph id="HD10D340879014B0691C346E0EAE62B2D"><enum>(2)</enum><header>Relocation of
federal employees</header><text>The proposed legislation under paragraph (1)(B)
shall provide that if the position of an employee of an agency is eliminated as
a result of the implementation of the plan under paragraph (1)(A), the affected
agency shall make reasonable efforts to relocate such employee to another
position within the agency or within another Federal agency.</text>
</paragraph></subsection></section><section id="H9B766DC1470D4A9088033300BFDF1E4C"><enum>333.</enum><header>Powers of the
Commission</header>
<subsection id="HBA3709AFF209410FBA8DB4A581E32DA9"><enum>(a)</enum><header>Hearings</header><text>The
Commission or, at its direction, any subcommittee or member of the Commission,
may, for the purpose of carrying out this subtitle—</text>
<paragraph id="H8516BEB0918D422F99E87477B9E38351"><enum>(1)</enum><text>hold such
hearings, sit and act at such times and places, take such testimony, receive
such evidence, and administer such oaths as any member of the Commission
considers advisable;</text>
</paragraph><paragraph id="H8DEF717595F84FDCBE07AD4F5B00B417"><enum>(2)</enum><text>require, by
subpoena or otherwise, the attendance and testimony of such witnesses as any
member of the Commission considers advisable; and</text>
</paragraph><paragraph id="H00A8832CDD834E219B0068007CC55441"><enum>(3)</enum><text>require, by
subpoena or otherwise, the production of such books, records, correspondence,
memoranda, papers, documents, tapes, and other evidentiary materials relating
to any matter under investigation by the Commission.</text>
</paragraph></subsection><subsection id="H4869EA443E8A46E1AF26FCC7E6C7D091"><enum>(b)</enum><header>Subpoenas</header>
<paragraph id="HD24CB79C4BA64564BF1114C5D44DF0D0"><enum>(1)</enum><header>Issuance</header><text>Subpoenas
issued under subsection (a) shall bear the signature of the chairperson of the
Commission and shall be served by any person or class of persons designated by
the chairperson for that purpose.</text>
</paragraph><paragraph id="H9B60B3B2A6FD49E9AC79D4706600F661"><enum>(2)</enum><header>Enforcement</header><text>In
the case of contumacy or failure to obey a subpoena issued under subsection
(a), the United States district court for the judicial district in which the
subpoenaed person resides, is served, or may be found, may issue an order
requiring such person to appear at any designated place to testify or to
produce documentary or other evidence. Any failure to obey the order of the
court may be punished by the court as a contempt of that court.</text>
</paragraph></subsection><subsection id="H8F110A282C5F48B4BD4F9524032F1EDA"><enum>(c)</enum><header>Information From
Federal Agencies</header><text>The Commission may secure directly from any
Federal department or agency such information as the Commission considers
necessary to carry out this Act. Upon request of the chairperson of the
Commission, the head of such department or agency shall furnish such
information to the Commission.</text>
</subsection><subsection id="HDA624FFE4C1D4B48B1EBAABD36133D0"><enum>(d)</enum><header>Postal
Services</header><text>The Commission may use the United States mails in the
same manner and under the same conditions as other departments and agencies of
the Government.</text>
</subsection><subsection id="HBA853F2AC9F546F4A359401D00EB831C"><enum>(e)</enum><header>Gifts</header><text>The
Commission may accept, use, and dispose of gifts or donations of services or
property.</text>
</subsection></section><section id="HD0444AF4601E4B4B8500DA5EA0294D67"><enum>334.</enum><header>Commission
personnel matters</header>
<subsection id="H775BCFD737F849FF8100EF3BF396391F"><enum>(a)</enum><header>Compensation of
Members</header>
<paragraph id="H774BC5C4F62E41C49D6741D112CD575E"><enum>(1)</enum><header>Non-federal
members</header><text>Except as provided under subsection (b), each member of
the Commission who is not an officer or employee of the Government shall not be
compensated.</text>
</paragraph><paragraph id="HB59536CCAE0A459592CA00043E0064C6"><enum>(2)</enum><header>Federal officers
or employees</header><text>All members of the Commission who are officers or
employees of the United States shall serve without compensation in addition to
that received for their services as officers or employees of the United
States.</text>
</paragraph></subsection><subsection id="H1DFE8579DDA848F0B81F8281C0752D7B"><enum>(b)</enum><header>Travel
Expenses</header><text>The members of the Commission shall be allowed travel
expenses, including per diem in lieu of subsistence, at rates authorized for
employees of agencies under subchapter I of <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/5/57">chapter 57</external-xref> of title 5, United
States Code, while away from their homes or regular places of business in the
performance of services for the Commission.</text>
</subsection><subsection id="HCD62169E1208411AA75EC3D8E06E3C6"><enum>(c)</enum><header>Staff</header>
<paragraph id="H3222803381E4472089F36C937FD7206B"><enum>(1)</enum><header>In
general</header><text>The chairperson of the Commission may, without regard to
the civil service laws and regulations, appoint and terminate an executive
director and such other additional personnel as may be necessary to enable the
Commission to perform its duties. The employment of an executive director shall
be subject to confirmation by the Commission.</text>
</paragraph><paragraph id="HB0B5B33BD25B4B2292266ED435E9782F"><enum>(2)</enum><header>Compensation</header><text>Upon
the approval of the chairperson, the executive director may fix the
compensation of the executive director and other personnel without regard to
chapter 51 and subchapter III of <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/5/53">chapter 53</external-xref> of title 5, United States Code,
relating to classification of positions and General Schedule pay rates, except
that the rate of pay for the executive director and other personnel may not
exceed the maximum rate payable for a position at GS–15 of the General Schedule
under section 5332 of such title.</text>
</paragraph><paragraph id="HD014811DD9A247C5AAA777A2C58EA0E5"><enum>(3)</enum><header>Personnel as
federal employees</header>
<subparagraph id="H2A3FE36E54654433A2A2270000E4FB28"><enum>(A)</enum><header>In
general</header><text>The executive director and any personnel of the
Commission who are employees shall be employees under <external-xref legal-doc="usc" parsable-cite="usc/5/2105">section 2105</external-xref> of title 5,
United States Code, for purposes of chapters 63, 81, 83, 84, 85, 87, 89, and 90
of that title.</text>
</subparagraph><subparagraph id="H283D04CEFF6A4584BF9EA8158CDD2509"><enum>(B)</enum><header>Members of
commission</header><text>Subparagraph (A) shall not be construed to apply to
members of the Commission.</text>
</subparagraph></paragraph></subsection><subsection id="H715BCB7B99DB45A0B0D158016890280"><enum>(d)</enum><header>Detail of
Government Employees</header><text>Any Government employee may be detailed to
the Commission without reimbursement, and such detail shall be without
interruption or loss of civil service status or privilege.</text>
</subsection><subsection id="H94F0C002814740448880B567FD561EEC"><enum>(e)</enum><header>Procurement of
Temporary and Intermittent Services</header><text>The chairperson of the
Commission may procure temporary and intermittent services under section
3109(b) of title 5, United States Code, at rates for individuals which do not
exceed the daily equivalent of the annual rate of basic pay prescribed for
level V of the Executive Schedule under section 5316 of such title.</text>
</subsection></section><section id="H71F12327152940069EC50004E53F248E"><enum>335.</enum><header>Termination of
the Commission</header><text display-inline="no-display-inline">The Commission
shall terminate 90 days after the date on which the Commission submits the
report under section 232(f).</text>
</section><section id="H12FD6B3968DF4ED48E9DC1AE0020E799"><enum>336.</enum><header>Congressional
consideration of reform proposals</header>
<subsection id="H368900A02258489D92E200AAA54089BA"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="H33ACE6D38FFA43798DE9EA6577B6814E"><enum>(1)</enum><header>Implementation
bill</header><text>The term <term>implementation bill</term> means only a bill
which is introduced as provided under subsection (b), and contains the proposed
legislation included in the report submitted to Congress under section 232,
without modification.</text>
</paragraph><paragraph id="H9D1908A0BCEC451987CC6840ADEB61D"><enum>(2)</enum><header>Calendar
day</header><text>The term <term>calendar day</term> means a calendar day other
than one on which either House is not in session because of an adjournment of
more than 3 days to a date certain.</text>
</paragraph></subsection><subsection id="HC02F631ED8734726B2F51F8FFDE99151"><enum>(b)</enum><header>Introduction;
Referral; and Report or Discharge</header>
<paragraph id="H7E72029F31DB4586B169A5493FDF231C"><enum>(1)</enum><header>Introduction</header><text>On
the first calendar day on which both Houses are in session, on or immediately
following the date on which the report is submitted to Congress under section
232, a single implementation bill shall be introduced (by request)—</text>
<subparagraph id="H88121A770D6D4DB7A14E00E8F9026598"><enum>(A)</enum><text>in the Senate by
the majority leader of the Senate, for himself and the minority leader of the
Senate, or by Members of the Senate designated by the majority leader and
minority leader of the Senate; and</text>
</subparagraph><subparagraph id="H448936B61B9D4C6BB02DE6CA4F5E9700"><enum>(B)</enum><text>in the House of
Representatives by the Speaker of the House of Representatives, for himself and
the minority leader of the House of Representatives, or by Members of the House
of Representatives designated by the Speaker and minority leader of the House
of Representatives.</text>
</subparagraph></paragraph><paragraph id="H38DE7191D90D499DAB3EBC832007490"><enum>(2)</enum><header>Referral</header><text>The
implementation bills introduced under paragraph (1) shall be referred to any
appropriate committee of jurisdiction in the Senate and any appropriate
committee of jurisdiction in the House of Representatives. A committee to which
an implementation bill is referred under this paragraph may report such bill to
the respective House without amendment.</text>
</paragraph><paragraph id="HA5B0923853D24DCFB05EA1CE850086A9"><enum>(3)</enum><header>Report or
discharge</header><text>If a committee to which an implementation bill is
referred has not reported such bill by the end of the 15th calendar day after
the date of the introduction of such bill, such committee shall be immediately
discharged from further consideration of such bill, and upon being reported or
discharged from the committee, such bill shall be placed on the appropriate
calendar.</text>
</paragraph></subsection><subsection id="H0436A311AA7A4DFC8DE918D7C8A1A481"><enum>(c)</enum><header>Floor
Consideration</header>
<paragraph id="H2808A23DB622467B8F7DA5E60074C060"><enum>(1)</enum><header>In
general</header><text>When the committee to which an implementation bill is
referred has reported, or has been discharged under subsection (b)(3), it is at
any time thereafter in order (even though a previous motion to the same effect
has been disagreed to) for any Member of the respective House to move to
proceed to the consideration of the implementation bill, and all points of
order against the implementation bill (and against consideration of the
implementation bill) are waived. The motion is highly privileged in the House
of Representatives and is privileged in the Senate and is not debatable. The
motion is not subject to amendment, or to a motion to postpone, or to a motion
to proceed to the consideration of other business. A motion to reconsider the
vote by which the motion is agreed to or disagreed to shall not be in order. If
a motion to proceed to the consideration of the implementation bill is agreed
to, the implementation bill shall remain the unfinished business of the
respective House until disposed of.</text>
</paragraph><paragraph id="HF0830792CF6D4F4C80F9202BA926750"><enum>(2)</enum><header>Amendments</header><text>An
implementation bill may not be amended in the Senate or the House of
Representatives.</text>
</paragraph><paragraph id="H6E6C1B08DC024A38005272AA6CC6516E"><enum>(3)</enum><header>Debate</header><text>Debate
on the implementation bill, and on all debatable motions and appeals in
connection therewith, shall be limited to not more than 10 hours, which shall
be divided equally between those favoring and those opposing the resolution. A
motion further to limit debate is in order and not debatable. An amendment to,
or a motion to postpone, or a motion to proceed to the consideration of other
business, or a motion to recommit the implementation bill is not in order. A
motion to reconsider the vote by which the implementation bill is agreed to or
disagreed to is not in order.</text>
</paragraph><paragraph id="H7D27B3A3B594496B9CA4E3C5231E1E99"><enum>(4)</enum><header>Vote on final
passage</header><text>Immediately following the conclusion of the debate on an
implementation bill, and a single quorum call at the conclusion of the debate
if requested in accordance with the rules of the appropriate House, the vote on
final passage of the implementation bill shall occur.</text>
</paragraph><paragraph id="HF488D381683D4EAD89CE50C434D91DBF"><enum>(5)</enum><header>Rulings of the
chair on procedure</header><text>Appeals from the decisions of the Chair
relating to the application of the rules of the Senate or the House of
Representatives, as the case may be, to the procedure relating to an
implementation bill shall be decided without debate.</text>
</paragraph></subsection><subsection id="H484EB37FE8C14BE5A0C652BF6F06BC9"><enum>(d)</enum><header>Coordination With
Action by Other House</header><text>If, before the passage by 1 House of an
implementation bill of that House, that House receives from the other House an
implementation bill, then the following procedures shall apply:</text>
<paragraph id="H313C5A1946444693B2D90047EE273CCA"><enum>(1)</enum><header>Nonreferral</header><text>The
implementation bill of the other House shall not be referred to a
committee.</text>
</paragraph><paragraph id="HD98F384EC7A14C29A511BE68228BE467"><enum>(2)</enum><header>Vote on bill of
other house</header><text>With respect to an implementation bill of the House
receiving the implementation bill—</text>
<subparagraph id="H48933884AD9B42A9912C2B3EC1786009"><enum>(A)</enum><text>the procedure in
that House shall be the same as if no implementation bill had been received
from the other House; but</text>
</subparagraph><subparagraph id="HCBD917CD4F734B0D957C8EEDD91BDCA8"><enum>(B)</enum><text>the vote on final
passage shall be on the implementation bill of the other House.</text>
</subparagraph></paragraph></subsection><subsection id="HD9F702230A0F4D56A1814BFFA753A3D0"><enum>(e)</enum><header>Rules of Senate
and House of Representatives</header><text>This section is enacted by
Congress—</text>
<paragraph id="HEB9047EDC20A4CDAA0E24040C5FA78A5"><enum>(1)</enum><text>as an exercise of
the rulemaking power of the Senate and House of Representatives, respectively,
and as such it is deemed a part of the rules of each House, respectively, but
applicable only with respect to the procedure to be followed in that House in
the case of an implementation bill described in subsection (a), and it
supersedes other rules only to the extent that it is inconsistent with such
rules; and</text>
</paragraph><paragraph id="H7E622B68DC224707A5D1000991CC088"><enum>(2)</enum><text>with full
recognition of the constitutional right of either House to change the rules (so
far as relating to the procedure of that House) at any time, in the same
manner, and to the same extent as in the case of any other rule of that
House.</text>
</paragraph></subsection></section><section id="HFBEBAED61D44418DBBECCFD25089FC"><enum>337.</enum><header>Authorization of
appropriations</header><text display-inline="no-display-inline">There are
authorized to be appropriated such sums as may be necessary for carrying out
this subtitle for each of the fiscal years 2008 through 2010.</text>
</section></subtitle><enum>IV</enum><header>TRUTH IN
ACCOUNTING</header>
<subtitle id="H50C2B549DE90470F82D5160315002538"><enum>A</enum><header>Accrual Funding of
Pensions and Retirement Pay for Federal Employees and Uniformed Services
Personnel</header>
<section id="H914C5B245ECC4FD780ED00E01E2FECE1"><enum>401.</enum><header>Civil Service
Retirement System</header>
<subsection id="H3FFF51E5D2C742C58E96A802FB96AB"><enum>(a)</enum><header>Civil Service
Retirement and Disability Fund</header><text><external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/5/83">Chapter 83</external-xref> of title 5, United
States Code, is amended—</text>
<paragraph id="H7E4531BCD99D4B8E8716B84DDD2DBAD"><enum>(1)</enum><text>in
section 8331—</text>
<subparagraph id="HC2AE76392E424E1B9EC994BE1C41E55D"><enum>(A)</enum><text>in paragraph
(17)—</text>
<clause id="H98687C4BBE3E48ABA58C31D5CC4B48F2"><enum>(i)</enum><text>by
striking <quote>normal cost</quote> and inserting <quote>normal cost
percentage</quote>; and</text>
</clause><clause id="HABBE23FE12FC42C68DB9BF5FB51B5264"><enum>(ii)</enum><text>by
inserting <quote>and standards (using dynamic assumptions)</quote> after
<quote>practice</quote>;</text>
</clause></subparagraph><subparagraph id="HE0F9CCD46B2A46F4A7EFF16EC22B613"><enum>(B)</enum><text>by amending
paragraph (18) to read as follows:</text>
<quoted-block id="HB19AB4ED8B014F1F94FF21D09EC41490" style="OLC">
<paragraph id="HF829DCF0E7FF4E4CAE141D3700E6C4B4"><enum>(18)</enum><text><quote>Fund
balance</quote> means the current net assets of the Fund available for payment
of benefits, as determined by the Office in accordance with appropriate
accounting standards, but does not include any amount attributable to—</text>
<subparagraph id="H896098131970487F8D8E4FC4AEF655CC"><enum>(A)</enum><text>the Federal
Employees’ Retirement System; or</text>
</subparagraph><subparagraph id="H3379E758DE544E5E97B9772D9CE5AC9E"><enum>(B)</enum><text>contributions made
under the Federal Employees’ Retirement Contribution Temporary Adjustment Act
of 1983 by or on behalf of any individual who became subject to the Federal
Employees’ Retirement System;</text>
</subparagraph></paragraph><after-quoted-block></after-quoted-block></quoted-block>
</subparagraph><subparagraph id="HFCBA470C25E64358977F59F38ECD3436"><enum>(C)</enum><text>by amending
paragraph (19) to read as follows:</text>
<quoted-block id="HE97B47CE972C44808D1548923F247B3D" style="OLC">
<paragraph id="H08EC4AAB45594D818D8614032BA2789B"><enum>(19)</enum><text><quote>accrued
liability</quote> means the estimated excess of the present value of all
benefits payable from the Fund to employees and Members, and former employees
and Members, subject to this subchapter, and their survivors, over the present
value of deductions to be withheld from the future basic pay of employees and
Members currently subject to this subchapter and of future agency contributions
to be made in their behalf;</text>
</paragraph><after-quoted-block></after-quoted-block></quoted-block>
</subparagraph><subparagraph id="H8B5662A6FCD346719905BBED59F1B459"><enum>(D)</enum><text>in paragraph (27)
by striking <quote>and</quote> at the end;</text>
</subparagraph><subparagraph id="H0CDF74D3F4CC4B27A0A1D44D00E758E5"><enum>(E)</enum><text>in paragraph (28)
by striking the period at the end and inserting a semicolon; and</text>
</subparagraph><subparagraph id="HAD12825BEBE54FF39BA9B954E5C6EE19"><enum>(F)</enum><text>by adding at the
end the following paragraphs:</text>
<quoted-block id="HA78E7BEBE402450BBDE19CD5C8A85D8E" style="OLC">
<paragraph id="HC7310131857B4BF8AFC4D84CA7973185"><enum>(29)</enum><text><quote>dynamic
assumptions</quote> means economic assumptions that are used in determining
actuarial costs and liabilities of a retirement system and in anticipating the
effects of long-term future—</text>
<subparagraph id="H9B33060E57E94CBF804228B182DC0486"><enum>(A)</enum><text>investment
yields;</text>
</subparagraph><subparagraph id="HEF9CA7348631417C83B7371427B60565"><enum>(B)</enum><text>increases in rates
of basic pay; and</text>
</subparagraph><subparagraph id="H5DA10CCD309C41FE8B75031238D2F799"><enum>(C)</enum><text>rates of price
inflation; and</text>
</subparagraph></paragraph><paragraph id="H5BB22A2CED2543CBAC006902D96EB507"><enum>(30)</enum><text><quote>unfunded
liability</quote> means the estimated excess of—</text>
<subparagraph id="H4AEFAA9086884F3DBFAFA34DEE00F564"><enum>(A)</enum><text>the actuarial
present value of all future benefits payable from the Fund under this
subchapter based on the service of current or former employees or Members,
over</text>
</subparagraph><subparagraph id="HF38169D439B1465B963291629B58B3D4"><enum>(B)</enum><text>the sum of—</text>
<clause id="H85295D2123054D9C8805724555857FEF"><enum>(i)</enum><text>the actuarial
present value of deductions to be withheld from the future basic pay of
employees and Members currently subject to this chapter pursuant to section
8334;</text>
</clause><clause id="HE29E04D321204E51A0D4E9073BCD34A3"><enum>(ii)</enum><text>the actuarial
present value of the future contributions to be made pursuant to section 8334
with respect to employees and Members currently subject to this
subchapter;</text>
</clause><clause id="HD00E9FC0966248A687707BC1BE363EF2"><enum>(iii)</enum><text>the Fund
balance, as defined in paragraph (18), as of the date the unfunded liability is
determined; and</text>
</clause><clause id="HDBC0EE20A8604EADA6B7567129DD1FAE"><enum>(iv)</enum><text>any other
appropriate amount, as determined by the Office of Personnel Management in
accordance with generally accepted actuarial practices and
principles.</text>
</clause></subparagraph></paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="H6850A485C93B41418695AD4533B2B452"><enum>(2)</enum><text>in section
8334—</text>
<subparagraph id="H90BB45A03DF4497C80F431ABBE62AB48"><enum>(A)</enum><text>in subsection
(a)(1)—</text>
<clause id="HD6056925C0164734BE3F72F76E6D8398"><enum>(i)</enum><text>by
striking the last two sentences;</text>
</clause><clause id="HA389B255ED514319987EB45EA1CC8BE6"><enum>(ii)</enum><text>by
redesignating that subsection, as so amended, as (a)(1)(A); and</text>
</clause><clause id="HF02B63D4F9CB453E90D43E53F181E35B"><enum>(iii)</enum><text>by
adding at the end the following new subparagraphs:</text>
<quoted-block id="H50E4B1461E5E4D009F01BF2C7BEA5B28" style="OLC">
<subparagraph id="H411410C89B254FCBA9D7D5248979CE11" indent="up2"><enum>(B)</enum><text>Except as provided in subparagraph
(E), each employing agency having any employees or Members subject to
subparagraph (A) shall contribute from amounts available for salaries and
expenses an amount equal to the sum of—</text>
<clause id="H0C216E70064E4763924056ECC739C587"><enum>(i)</enum><text>the product of—</text>
<subclause id="HF455CD7873954FFE8880AD62CC005C71"><enum>(I)</enum><text>the normal cost percentage, as
determined for employees (other than employees covered by clause (ii)),
multiplied by</text>
</subclause><subclause id="HAE5F9324D31E43E088F3050898277F23"><enum>(II)</enum><text>the aggregate amount of basic pay
payable by the agency, for the period involved, to employees (under subclause
(I)) who are within such agency; and</text>
</subclause></clause><clause id="H3B06F79E8FFB44189C51B1305B5F2245"><enum>(ii)</enum><text>the product of—</text>
<subclause id="HC5CCC2C34A3446EBAB156133361726DB"><enum>(I)</enum><text>the normal cost percentage, as
determined for Members, Congressional employees, law enforcement officers,
firefighters, air traffic controllers, bankruptcy judges, Court of Federal
Claims judges, United States magistrates, judges of the United States Court of
Appeals for the Armed Forces, members of the Capitol Police, nuclear materials
couriers, and members of the Supreme Court Police, multiplied by</text>
</subclause><subclause id="HB4C4AF03560B4D6AA956F0FD1E3FD254"><enum>(II)</enum><text>the aggregate amount of basic pay
payable by the agency for the period involved, to employees and Members (under
subclause (I)) who are within such agency.</text>
</subclause></clause></subparagraph><subparagraph id="H3F7899B9E7474AA0B56E9BCBDFFE5115" indent="up2"><enum>(C)</enum><text>In determining the normal cost
percentage to be applied under subparagraph (B), amounts provided for under
subparagraph (A) shall be taken into account.</text>
</subparagraph><subparagraph id="H8F7F2539CDCC45AC8E1FDEAA72EBA617" indent="up2"><enum>(D)</enum><text>Contributions under this paragraph
shall be paid—</text>
<clause id="HCF1845AFF6264402A2FD066E002D8DAF"><enum>(i)</enum><text>in the case of law enforcement
officers, firefighters, air traffic controllers, bankruptcy judges, Court of
Federal Claims judges, United States magistrates, judges of the United States
Court of Appeals for the Armed Forces, members of the Supreme Court Police,
nuclear materials couriers and other employees, from the appropriations or fund
used to pay such law enforcement officers, firefighters, air traffic
controllers, bankruptcy judges, Court of Federal Claims judges, United States
magistrates, judges of the United States Court of Appeals for the Armed Forces,
members of the Supreme Court Police, nuclear materials couriers and other
employees, respectively;</text>
</clause><clause id="HA18F1D9157524EBEAB20690074DE4776"><enum>(ii)</enum><text>in the case of elected officials,
from an appropriation or fund available for payment of other salaries of the
same office or establishment; and</text>
</clause><clause id="H7F4AD467F2ED404491E0C355BC57AF4F"><enum>(iii)</enum><text>in the case of employees of the
legislative branch paid by the Clerk of the House of Representatives, from the
contingent fund of the House.</text>
</clause></subparagraph><subparagraph id="HE9DF6328480247EDBC5815743B50A03D" indent="up2"><enum>(E)</enum><text>In the case of the United States
Postal Service, the Metropolitan Washington Airports Authority, and the
government of the District of Columbia, an amount equal to that withheld under
subparagraph (A) shall be contributed from the appropriation or fund used to
pay the employee.</text>
</subparagraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="HAF432DAC249F4B34843800DD2B209721"><enum>(B)</enum><text>in subsection
(k)—</text>
<clause id="H213F2B5C3605446CB14500F0FDDE2CC"><enum>(i)</enum><text>in
paragraph (1)—</text>
<subclause id="H8E1D89DF2990462588E6A6B45EF7AECD"><enum>(I)</enum><text>in subparagraph
(A) by striking <quote>the first sentence of subsection (a)(1) of this
section</quote> and inserting <quote>subsection (a)(1)(A)</quote>; and</text>
</subclause><subclause id="HE926A5B20C6240FD8135AE2593AC2D5D"><enum>(II)</enum><text>by amending
subparagraph (B) to read as follows:</text>
<quoted-block id="H73276E8FD13F4020A91EBC3F690072B5" style="OLC">
<subparagraph id="HF092303B00454A62AA391EE32FA101AB" indent="up1"><enum>(B)</enum><text>the amount of the contribution under
subsection (a)(1)(B) shall be the amount which would have been contributed
under such subsection if this subsection had not been
enacted.</text>
</subparagraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subclause></clause><clause id="HD2360D6912B74DF79F44E9A73392AE84"><enum>(ii)</enum><text>in
paragraph (2)(C)(iii) by striking <quote>the first sentence of subsection
(a)(1)</quote> and inserting <quote>subsection (a)(1)(A)</quote>; and</text>
</clause></subparagraph></paragraph><paragraph id="H6E860B2A39E546F4999DC94D7CDDCB32"><enum>(3)</enum><text>in section
8348—</text>
<subparagraph id="H76905278FE324E84AEF04000CE76C8EE"><enum>(A)</enum><text>by repealing
subsection (f);</text>
</subparagraph><subparagraph id="HD247B04677814646A15FA9F73CE41F8"><enum>(B)</enum><text>by amending
subsection (g) to read as follows:</text>
<quoted-block id="H1B5823C4A990445A94CFAB869E3DE5E" style="OLC">
<subsection id="H8A2973AB31934F23ABA8551D93C7E8C1"><enum>(g)</enum><paragraph commented="no" display-inline="yes-display-inline" id="H74F2CAF50D924871AD015200AC510041"><enum>(1)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HD8B496144E3D458080765CB2C300FB13"><enum>(A)</enum><text>Not later than June 30,
2008, the Office of the Actuary shall determine the unfunded liability of the
Fund, as of September 30, 2007, attributable to benefits payable under this
chapter and make recommendations regarding its liquidation. After considering
such recommendations, the Office shall establish an amortization schedule,
including a series of annual installments commencing October 1, 2008, which
provides for the liquidation of such liability by October 1, 2046.</text>
</subparagraph><subparagraph id="H5E9D3E03BD194DE18FC75D445E5DAEB" indent="up2"><enum>(B)</enum><text>The Office shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year, for each
fiscal year beginning after September 30, 2007, through the fiscal year ending
September 30, 2041, and shall establish a new amortization schedule, including
a series of annual installments commencing on October 1 of the second
subsequent fiscal year, which provides for the liquidation of such liability by
October 1, 2046.</text>
</subparagraph><subparagraph id="HBE08645EE4924878ADCD51CC6E10942" indent="up2"><enum>(C)</enum><text>The Office shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year for each
fiscal year beginning after September 30, 2041, and shall establish a new
amortization schedule, including a series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over five years.</text>
</subparagraph><subparagraph id="H8EFD520931094531918212C09B2EA51F" indent="up2"><enum>(D)</enum><text>Amortization schedules established
under this paragraph shall be set in accordance with generally accepted
actuarial practices and principles, with interest computed at the rate used in
the most recent valuation of the Civil Service Retirement System.</text>
</subparagraph></paragraph><paragraph id="H4762A52FE1304ADBAE806D50126EA00" indent="up1"><enum>(2)</enum><text>At the beginning of each fiscal year,
beginning on October 1, 2008, the Office shall notify the Secretary of the
Treasury of the amount of the first installment under the most recent
amortization schedule established under paragraph (1). The Secretary shall
credit that amount to the Fund, as a Government contribution, out of any money
in the Treasury of the United States not otherwise appropriated.</text>
</paragraph><paragraph id="HDA6F152637B644FFB29ED825F6A31E08" indent="up1"><enum>(3)</enum><text>For the purpose of carrying out
paragraph (1) with respect to any fiscal year, the Office may—</text>
<subparagraph id="H5002F91E57CF4D86BAACAFFBDD163B36"><enum>(A)</enum><text>require the Board of Actuaries of the
Civil Service Retirement System to make actuarial determinations and
valuations, make recommendations, and maintain records in accordance with
section 8347(f); and</text>
</subparagraph><subparagraph id="H12BA27CFFAB944669654143BD63B2985"><enum>(B)</enum><text>use the latest actuarial
determinations and valuations made by such Board of
Actuaries.</text>
</subparagraph></paragraph></subsection><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="HB62AD50F3D5B4EF7B7C736717031B086"><enum>(C)</enum><text>in subsections
(h), (i), and (m) by striking <quote>unfunded</quote> and inserting
<quote>accrued</quote> each place it appears; and</text>
</subparagraph><subparagraph id="H29D91A53B402474B883070956BB99292"><enum>(D)</enum><text>by adding at the
end the following new subsection:</text>
<quoted-block id="HCE116FDCFBBB476DA78CB9499D5983D" style="OLC">
<subsection id="H2B8355DA80AE4510AD131471CBADC283"><enum>(n)</enum><text>Under regulations
prescribed by the Office, the head of an agency may request reconsideration of
any amount determined to be payable with respect to such agency under section
8334(a)(1)(B)–(D). Any such request shall be referred to the Board of Actuaries
of the Civil Service Retirement System. The Board of Actuaries shall review the
computations of the Office and may make any adjustment with respect to any such
amount which the Board determines appropriate. A determination by the Board of
Actuaries under this subsection shall be
final.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph></subsection><subsection id="HFDF0F2FFA4FD49669353D9F512A1FB61"><enum>(b)</enum><header>Government
Contributions</header><text><external-xref legal-doc="usc" parsable-cite="usc/5/8423">Section 8423</external-xref> of title 5, United States Code, is
amended—</text>
<paragraph id="HB676CA2667374FBCB78B820600F54220"><enum>(1)</enum><text>in subsection
(a)(2) by striking <quote>section 8422</quote> and inserting <quote>section
8422(a)</quote>; and</text>
</paragraph><paragraph id="H48CF082C471943DB91C549E4A04CAF85"><enum>(2)</enum><text>in subsection
(b)(2) by striking <quote>equal annual installments</quote> and inserting
<quote>annual installments set in accordance with generally accepted actuarial
practices and principles</quote>.</text>
</paragraph></subsection></section><section id="HDFE7672F5A4C43FCBC348BB100AEA0EF"><enum>402.</enum><header>Central
Intelligence Agency Retirement and Disability System</header>
<subsection id="HEAEF960F25B6436500A491C111037019"><enum>(a)</enum><text>Section 101 of the
Central Intelligence Agency Retirement Act (<external-xref legal-doc="usc" parsable-cite="usc/50/2001">50 U.S.C. 2001</external-xref>) is amended—</text>
<paragraph id="H4B3BB4A9D6864F4685A5EB71C91D2AA"><enum>(1)</enum><text>in
paragraph (5), to read as follows:</text>
<quoted-block id="H64FA364FF92E45ACA2D9BF70897E641E" style="OLC">
<paragraph id="H4DF060C6763343C2870089E406F96DD2"><enum>(5)</enum><header>Unfunded
liability</header><text>The term <term>unfunded liability</term> means the
estimated excess of—</text>
<subparagraph id="HEDBE6B32F4AA4B4C974E2246C329DF64"><enum>(A)</enum><text>the actuarial
present value of all future benefits payable from the Fund under title II of
this Act based on the service of current or former participants, over</text>
</subparagraph><subparagraph id="HBDA527C7946749B98DECE96EEFD51E5"><enum>(B)</enum><text>the sum of—</text>
<clause id="H8D7CBAD8CB4E45F885FDD123147641A6"><enum>(i)</enum><text>the actuarial
present value of deductions to be withheld from the future basic pay of
participants currently subject to title II of this Act pursuant to section
211;</text>
</clause><clause id="HCA5E04DE5B654932BE22633FDD881B8E"><enum>(ii)</enum><text>the actuarial
present value of the future contributions to be made pursuant to section 211
with respect to participants currently subject to title II of this Act;</text>
</clause><clause id="HC774B5DA17274186935D60CEBBC8008B"><enum>(iii)</enum><text>the Fund
balance, as defined in paragraph (4), as of the date the unfunded liability is
determined; and</text>
</clause><clause id="H82AC51C7777E4D8BA09089C454F62530"><enum>(iv)</enum><text>any other
appropriate amount, as determined by the Director in accordance with generally
accepted actuarial practices and
principles.</text>
</clause></subparagraph></paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph id="HAF40CE66AD5C430E9F3F8C2E00FFF33D"><enum>(2)</enum><text>in paragraph
(6)—</text>
<subparagraph id="H2A2FF66585FC40EB868535555B7F19DF"><enum>(A)</enum><text>by striking
<quote><quote>normal cost</quote></quote> and inserting <quote><quote>normal
cost percentage</quote></quote>; and</text>
</subparagraph><subparagraph id="H766A4F078F2B4CFF888E0002EE7BDB22"><enum>(B)</enum><text>by inserting
<quote>and standards (using dynamic assumptions)</quote> after
<quote>practice</quote>; and</text>
</subparagraph></paragraph><paragraph id="H599B7F79340A42F19FE8604F51BBDE84"><enum>(3)</enum><text>by adding at the
end the following paragraph:</text>
<quoted-block id="HBE9CDB57C28D41E2006E9248E4A23CCB" style="OLC">
<paragraph id="H1D440F43ADB1411D8D3C5E6308BFF33C"><enum>(10)</enum><header>Dynamic
assumptions</header><text>The term <term>dynamic assumptions</term> means
economic assumptions that are used in determining actuarial costs and
liabilities of a retirement system and in anticipating the effects of long-term
future—</text>
<subparagraph id="H623E5AF56EDD4F71B902E58C69310063"><enum>(A)</enum><text>investment
yields;</text>
</subparagraph><subparagraph id="H11899E7BD6D343358277884132D60917"><enum>(B)</enum><text>increases in rates
of basic pay; and</text>
</subparagraph><subparagraph id="HF7322AA8EE3846790035B39423FA177"><enum>(C)</enum><text>rates of price
inflation.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H1AE9BD5069AE475BAB15465688856ED"><enum>(b)</enum><text>Section 202 of such
Act (<external-xref legal-doc="usc" parsable-cite="usc/50/2012">50 U.S.C. 2012</external-xref>) is amended by adding at the end the following: <quote>The
Fund is appropriated for the payment of benefits as provided by this
title.</quote>.</text>
</subsection><subsection id="HF2B403D02CAA47C591E883D21BA56CFB"><enum>(c)</enum><text>Section 211(a)(2)
of such Act (<external-xref legal-doc="usc" parsable-cite="usc/50/2021">50 U.S.C. 2021(a)(2)</external-xref>) is amended to read as follows:</text>
<quoted-block id="H9BE0A2480AAA4D48A0EB716887718030" style="OLC">
<paragraph id="H71E580914D7143F09606C8D5BBA777D1"><enum>(2)</enum><header>Agency
contributions</header><text>The Agency shall contribute to the Fund the amount
computed in a manner similar to that used under <external-xref legal-doc="usc" parsable-cite="usc/5/8334">section 8334(a)</external-xref> of title 5,
United States Code, pursuant to determinations of the normal cost percentage of
the Central Intelligence Agency Retirement and Disability System by the
Director. Contributions under this paragraph shall be paid from amounts
available for salaries and
expenses.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HF35610974E7A4DB593CCB99F8D00C46D"><enum>(d)</enum><text>Section 261 of
such Act (<external-xref legal-doc="usc" parsable-cite="usc/50/2091">50 U.S.C. 2091</external-xref>) is amended—</text>
<paragraph id="HB70959A13A7E439B80178761613676C7"><enum>(1)</enum><text>by striking
subsections (c), (d), and (e); and</text>
</paragraph><paragraph id="HA89B903A26A24B47A2F2C054B00F9DC"><enum>(2)</enum><text>by
inserting after subsection (b) the following new subsections:</text>
<quoted-block id="H2CA506A6AE4A41DBA33EC3942D716E1F" style="OLC">
<subsection id="HD5D08838134D45A8AD04A0B0AE80D0C5"><enum>(c)</enum><paragraph commented="no" display-inline="yes-display-inline" id="HD99CFA3975524851BBEAF805B098CC5B"><enum>(1)</enum><text>Not later than June 30,
2008, the Director shall cause to be made actuarial valuations of the Fund that
determine the unfunded liability of the Fund, as of September 30, 2007,
attributable to benefits payable under this title and make recommendations
regarding its liquidation. After considering such recommendations, the Director
shall establish an amortization schedule, including a series of annual
installments commencing October 1, 2008, which provides for the liquidation of
such liability by October 1, 2046.</text>
</paragraph><paragraph id="H662EF9369F3649FEA9FB7E91206CF9D6" indent="up1"><enum>(2)</enum><text>The Director shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year, for each
fiscal year beginning after September 30, 2007, through the fiscal year ending
September 30, 2041, and shall establish a new amortization schedule, including
a series of annual installments commencing on October 1 of the second
subsequent fiscal year, which provides for the liquidation of such liability by
October 1, 2046.</text>
</paragraph><paragraph id="HA79B824CA1BE4483B8BA26BC3C3F8EE8" indent="up1"><enum>(3)</enum><text>The Director shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year for each
fiscal year beginning after September 30, 2041, and shall establish a new
amortization schedule, including a series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over five years.</text>
</paragraph><paragraph id="H76A0F32427CB47C5967180A7D787BC32" indent="up1"><enum>(4)</enum><text>Amortization schedules established
under this subsection shall be set in accordance with generally accepted
actuarial practices and principles, with interest computed at the rate used in
the most recent valuation of the Civil Service Retirement and Disability
System.</text>
</paragraph></subsection><subsection id="HCB86475B7A2B4DA9A100E64240D272AB"><enum>(d)</enum><text>At the beginning
of each fiscal year, beginning on October 1, 2008, the Director shall notify
the Secretary of the Treasury of the amount of the first installment under the
most recent amortization schedule established under subsection (c). The
Secretary shall credit that amount to the Fund, as a Government contribution,
out of any money in the Treasury of the United States not otherwise
appropriated. For the purposes of Section 504 of the National Security Act of
1947, this amount shall be considered
authorized.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HA62FADD15DBB49F3BD6CD6819CE5ACF2"><enum>(e)</enum><paragraph commented="no" display-inline="yes-display-inline" id="HC244804C034D401BA6517F003843B1B2"><enum>(1)</enum><text>Title III of such Act
(<external-xref legal-doc="usc" parsable-cite="usc/50/2151">50 U.S.C. 2151 et seq.</external-xref>) is amended by adding at the end the following new
section:</text>
<quoted-block id="H001846D1F23544258600102F8DF6C17" style="OLC">
<section id="H9A8807FA260F4D59AF9632688282D9C5"><enum>308.</enum><header>Full funding of
retiree costs for employees designated under Section
<enum-in-header>302</enum-in-header></header>
<subsection id="HB2741F06101C4FB08144B14E002C00D6"><enum>(a)</enum><text>In addition to
other government contributions required by law, the Agency shall contribute to
the Civil Service Retirement and Disability fund (hereinafter in this section
referred to as the <quote>Fund</quote>) amounts calculated in accordance with
<external-xref legal-doc="usc" parsable-cite="usc/5/8423">section 8423</external-xref> of title 5, United States Code, based on the projected number of
employees to be designated pursuant to section 302 of this Act. In addition,
the Agency, in a manner similar to that established for employee contributions
to the Fund by <external-xref legal-doc="usc" parsable-cite="usc/5/8422">section 8422</external-xref> of title 5, United States Code, will contribute an
amount equal to the difference between that which would be contributed by the
number of employees projected to be designated under section 302 and the
amounts that are actually being deducted and contributed from the basic pay of
an equal number of employees pursuant to section 8422. The amounts of the
Agency’s contributions under this subsection shall be determined by the
Director of the Office of Personnel Management, in consultation with the
Director, and shall be paid by the Agency from funds available for salaries and
expenses. Agency employees designated pursuant to section 302 of this Act
shall, commencing with such designation, have deducted from their basic pay the
full amount required by <external-xref legal-doc="usc" parsable-cite="usc/5/8422">section 8422</external-xref> of title 5, United States Code, and such
deductions shall be contributed to the Fund.</text>
</subsection><subsection id="H1E2CC20B84624036877B22D4DAFA552D"><enum>(b)</enum><paragraph commented="no" display-inline="yes-display-inline" id="H47F9CFE663194009A0DA164B50701DF1"><enum>(1)</enum><text>The Director of the
Office of Personnel Management, in consultation with the Director, shall
determine the total amount of unpaid contributions (government and employee
contributions) and interest attributable to the number of individuals employed
with the Agency on September 30, 2008, who are projected to be designated under
section 302 of this Act, but are not yet designated under that section as of
that date. The amount shall be referred to as the section 302 unfunded
liability.</text>
</paragraph><paragraph id="HE03785FA1D7843EAAB3337897E70867D" indent="up1"><enum>(2)</enum><text>Not later than June 30, 2009, the
Director of the Office of Personnel Management, in consultation with the
Director, shall establish an amortization schedule, setting forth a series of
annual installments commencing September 30, 2009, which provides for the
liquidation of the section 302 unfunded liability by September 30, 2016.</text>
</paragraph><paragraph id="H744A4E2D7066493CBC8D5C19A89DAD1C" indent="up1"><enum>(3)</enum><text>At the end of each fiscal year,
beginning on September 30, 2009, the Director shall notify the Secretary of the
Treasury of the amount of the annual installment under the amortization
schedule established under paragraph (2) of this subsection. Before closing the
accounts for that fiscal year, the Secretary shall credit that amount to the
Fund, out of any money in the Treasury of the United States not otherwise
appropriated.</text>
</paragraph></subsection><subsection id="H8CD8F9B443D349C1BBC2B5F5FD51E548"><enum>(c)</enum><text>Amounts paid by
the Agency pursuant to this section are deemed to be specifically authorized by
the Congress for the purposes of section 504 of the National Security Act of
1947.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HC40821467D504033A1FA7DEF528C17B5" indent="up1"><enum>(2)</enum><text>The table of contents of such Act is
amended by inserting after the item relating to section 307 the following new
item:</text>
<quoted-block id="H45F1250EAFC84A3B9CE881F44CE30900" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 308. Full funding of retiree costs
for employees designated under section
302.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="HED48C8DE5F014E51946DACD73E2B9C96"><enum>403.</enum><header>Foreign Service
Retirement and Disability System</header>
<subsection id="H0A9F533B2DEB4A94952BE9550052CFE8"><enum>(a)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 804 (<external-xref legal-doc="usc" parsable-cite="usc/22/4044">22 U.S.C. 4044</external-xref>)—</text>
<paragraph id="HAAFB1EDADBF74FE585263892FFD938D7"><enum>(1)</enum><text>by amending
paragraph (5) to read as follows:</text>
<quoted-block id="H51348390098D4E259E51E3C4B613BFAB" style="OLC">
<paragraph id="H939BADFE675540DAA3E3C3DA916B252C"><enum>(5)</enum><text><quote>normal cost
percentage</quote> means the entry-age normal cost computed in accordance with
generally accepted actuarial practice and standards (using dynamic assumptions)
and expressed as a level percentage of aggregate basic
pay.</text>
</paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph id="H8D1EC30ED62B4CF581918D002416E000"><enum>(2)</enum><text>by amending
paragraph (14) to read as follows:</text>
<quoted-block id="H73256567E25348C3BEB93D0E3C8F160" style="OLC">
<paragraph id="HB943FB13FE504C6988BAA17F49E1A99D"><enum>(14)</enum><text><quote>unfunded
liability</quote> means the estimated excess of—</text>
<subparagraph id="HF5B736A8EEB949A200C500D134255F12"><enum>(A)</enum><text>the actuarial
present value of all future benefits payable from the Fund under this part
based on the service of current or former participants, over</text>
</subparagraph><subparagraph id="H7714206767F34199AFA31B38C555084C"><enum>(B)</enum><text>the sum of—</text>
<clause id="HBD94AF5600294FDC97659CF0553BC18D"><enum>(i)</enum><text>the actuarial
present value of deductions to be withheld from the future basic pay of
participants currently subject to this part pursuant to section 805;</text>
</clause><clause id="H220794A807C44815AE6647C8EFB8A715"><enum>(ii)</enum><text>the actuarial
present value of the future contributions to be made pursuant to section 805
with respect to participants currently subject to this part;</text>
</clause><clause id="HA5E72BD15E234C88B9676698EB2C3B8"><enum>(iii)</enum><text>the Fund balance,
as defined in paragraph (7), as of the date the unfunded liability is
determined, excluding any amount attributable to the Foreign Service Pension
System, or contributions made under the Federal Employees’ Retirement
Contribution Temporary Adjustment Act of 1983 by or on behalf of any individual
who became subject to the Foreign Service Pension System; and</text>
</clause><clause id="HE002264D99DD49AFA7BB22FF00E205"><enum>(iv)</enum><text>any
other appropriate amount, as determined by the Secretary of the Treasury in
accordance with generally accepted actuarial practices and
principles.</text>
</clause></subparagraph></paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="H9A50A67F68D845A8BCA763900765846"><enum>(3)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H283AB3B075E94BC28D729FE691A57CCA"><enum>(A)</enum><text>by striking the period
at the end of paragraph (15) and inserting <quote>; and</quote>; and</text>
</subparagraph><subparagraph id="HFBB108A3BAB142B3B430C7B28C51D814" indent="up1"><enum>(B)</enum><text>by adding at the end the following new
paragraph:</text>
<quoted-block id="HE05A2718CE764272BA65C59592B4B43E" style="OLC">
<paragraph id="H3A7B3E8ADD6942D68FD92750ABEFA2F9"><enum>(16)</enum><text><quote>dynamic
assumptions</quote> means economic assumptions that are used in determining
actuarial costs and liabilities of a retirement system and in anticipating the
effects of long-term future—</text>
<subparagraph id="H39BC15EC579147568DF15C30D0BBAA00"><enum>(A)</enum><text>investment
yields;</text>
</subparagraph><subparagraph id="H01DF2CA53D9849B5ACC3A87C6E00DF8B"><enum>(B)</enum><text>increases in rates
of basic pay; and</text>
</subparagraph><subparagraph id="H4EA440BB731949E6B4922EACC4FBD1A9"><enum>(C)</enum><text>rates of price
inflation.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph></subsection><subsection id="H26F945FA0C814994A1003009B2049009"><enum>(b)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 852 (<external-xref legal-doc="usc" parsable-cite="usc/22/4071a">22 U.S.C. 4071a</external-xref>)—</text>
<paragraph id="H5BD4EA33114D41B98EBA1059006B2300"><enum>(1)</enum><text>in paragraph
(4)—</text>
<subparagraph id="H192BE34335C540FA8153435497F2E22"><enum>(A)</enum><text>by striking
<quote>normal cost</quote> and inserting <quote>normal cost percentage</quote>;
and</text>
</subparagraph><subparagraph id="HAEC0C1950465456EA5BD9466337B7119"><enum>(B)</enum><text>by striking
<quote>by the Secretary of State</quote>;</text>
</subparagraph></paragraph><paragraph id="H8A2B8A7C37F94ABFADC8A6FA2D272C2C"><enum>(2)</enum><text>in paragraph
(7)—</text>
<subparagraph id="H427936579F1543A0A667A706F9D5C6A"><enum>(A)</enum><text>by striking
<quote>supplemental</quote> and inserting <quote>unfunded</quote>;</text>
</subparagraph><subparagraph id="H69A94251ED934652BB6D136B91494300"><enum>(B)</enum><text>in subparagraph
(B)(i) by striking <quote>(I)</quote> and <quote>and (II) contributions for
past civilian and military service</quote>; and</text>
</subparagraph><subparagraph id="H261EFAFA7280491A9684DDE2D500ABFE"><enum>(C)</enum><text>in subparagraph
(B)(ii) by inserting before the semicolon <quote>with respect to participants
currently subject to this part</quote>; and</text>
</subparagraph></paragraph><paragraph id="HA8C8ECB5B2534063BB45D6F0F71ED9D9"><enum>(3)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HEFC50D905AD04E0C9434B67DF7122F00"><enum>(A)</enum><text>at the end of paragraph
(8) by striking <quote>and</quote>;</text>
</subparagraph><subparagraph id="HA29FC91916B14DCB907470BE0726C4C9" indent="up1"><enum>(B)</enum><text>at the end of paragraph (9) by
striking the period and inserting <quote>; and</quote>; and</text>
</subparagraph><subparagraph id="H12E62947161446FBA4082EE0C6E05CC" indent="up1"><enum>(C)</enum><text>by adding at the end the following new
paragraph:</text>
<quoted-block id="H798A87194C6A4504A666371E5EA896A1" style="OLC">
<paragraph id="H5B9B828A5AE0471A9D5E2082F0DEB1C7"><enum>(10)</enum><text><quote>dynamic
assumptions</quote> means economic assumptions that are used in determining
actuarial costs and liabilities of a retirement system and in anticipating the
effects of long-term future—</text>
<subparagraph id="H342EE340974445249EDB7323B5038575"><enum>(A)</enum><text>investment
yields;</text>
</subparagraph><subparagraph id="H77D7FCAD27A74168BBF7F6E71E4F5544"><enum>(B)</enum><text>increases in rates
of basic pay; and</text>
</subparagraph><subparagraph id="HF8578CC56E084D6E8C22117B31D6D488"><enum>(C)</enum><text>rates of price
inflation.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph></subsection><subsection id="H5E7EA84AD4C14D26A7AE1D57EEA3D6F"><enum>(c)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 805(a)(1) (22 U.S.C. 4045(a)(i))—</text>
<paragraph id="H7588A1794D344D8FAB3B053097EF9E14"><enum>(1)</enum><text>by striking the
second sentence;</text>
</paragraph><paragraph id="H8841BC52A6CF4AFAB5BD07D051F6F00"><enum>(2)</enum><text>(by redesignating
that subsection, as so amended, as (a)(1)(A);</text>
</paragraph><paragraph id="HA668D9F1365A4814876804C4CDABDE6F"><enum>(3)</enum><text>by redesignating
the last sentence of that subsection, as so amended as (a)(1)(C);</text>
</paragraph><paragraph id="H0A28C0744D214A3C894410BC31005072"><enum>(4)</enum><text>by inserting after
subparagraph (A) the following new subparagraph:</text>
<quoted-block id="H3C6AFB88B84140F3A301AF4F9B5F0077" style="OLC">
<subparagraph id="HA11000D65C654D9D80AE6D5F125D3817"><enum>(B)</enum><text>Each employing
agency having participants shall contribute to the Fund the amount computed in
a manner similar to that used under <external-xref legal-doc="usc" parsable-cite="usc/5/8334">section 8334(a)</external-xref> of title 5, United States
Code, pursuant to determinations of the normal cost percentage of the Foreign
Service Retirement and Disability System. Contributions under this subparagraph
shall be paid from the appropriations or fund used for payment of the salary of
the
participant.</text>
</subparagraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph id="HA310C2E709ED43999EA36BCF36FE7CB"><enum>(5)</enum><text>in
subsection (a)(2)(A) by striking <quote>An equal amount shall be contributed by
the Department</quote> and inserting in its place <quote>Each employing agency
having participants shall contribute to the Fund the amount computed in a
manner similar to that used under <external-xref legal-doc="usc" parsable-cite="usc/5/8334">section 8334(a)</external-xref> of title 5, United States
Code, pursuant to determinations of the normal cost percentage of the Foreign
Service Retirement and Disability System</quote>; and</text>
</paragraph><paragraph id="H6598CFB9C7BA4CDF99087CAED3000578"><enum>(6)</enum><text>in subsection
(a)(2)(B) by striking <quote>An equal amount shall be contributed by the
Department</quote> and inserting in its place <quote>Each employing agency
having participants shall contribute to the Fund from amounts available for
salaries and expenses the amount computed in a manner similar to that used
under <external-xref legal-doc="usc" parsable-cite="usc/5/8334">section 8334(a)</external-xref> of title 5, United States Code, pursuant to
determinations of the normal cost percentage of the Foreign Service Retirement
and Disability System</quote>.</text>
</paragraph></subsection><subsection id="H3E2035CAE8934B5BA7474DD03C9B9108"><enum>(d)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended by repealing sections 821 and 822 (22 U.S.C. 4061
and 4062) and by adding the following new section:</text>
<quoted-block act-name="Foreign Service Act of 1980" id="H120A2FD2811D4789B1C36ED2135D1341" style="USC">
<section id="H14F0B8B9102843F996B08DCB3FB3481E"><enum>821</enum><header>Unfunded
liability</header>
<subsection id="H6BAB2CF69336478600CEE21B7D578622"><enum>(a)</enum><paragraph commented="no" display-inline="yes-display-inline" id="H679848B8A16645A29E151F493123A19D"><enum>(1)</enum><text>Not later than June 30,
2008, the Secretary of State shall cause to be made actuarial valuations of the
Fund that determine the unfunded liability of the Fund, as of September 30,
2007, attributable to benefits payable under this subchapter and make
recommendations regarding its liquidation. After considering such
recommendations, the Secretary of State shall establish an amortization
schedule, including a series of annual installments commencing October 1, 2007,
which provides for the liquidation of such liability by October 1, 2046.</text>
</paragraph><paragraph id="H0BABEE56808A43DBAED536B7269FB8CB" indent="up1"><enum>(2)</enum><text>The Secretary of State shall
redetermine the unfunded liability of the Fund as of the close of the fiscal
year, for each fiscal year beginning after September 30, 2007, through the
fiscal year ending September 30, 2041, and shall establish a new amortization
schedule, including a series of annual installments commencing on October 1 of
the second subsequent fiscal year, which provides for the liquidation of such
liability by October 1, 2046.</text>
</paragraph><paragraph id="H03C27526E25245AEA312E8A734BE0339" indent="up1"><enum>(3)</enum><text>The Secretary of State shall
redetermine the unfunded liability of the Fund as of the close of the fiscal
year for each fiscal year beginning after September 30, 2041, and shall
establish a new amortization schedule, including a series of annual
installments commencing on October 1 of the second subsequent fiscal year,
which provides for the liquidation of such liability over five years.</text>
</paragraph><paragraph id="H292C841958994DBBBAB5D81D8DC835B0" indent="up1"><enum>(4)</enum><text>Amortization schedules established
under this subsection shall be set in accordance with generally accepted
actuarial practices and principles, with interest computed at the rate used in
the most recent valuation of the Foreign Service Retirement and Disability
System.</text>
</paragraph></subsection><subsection id="H4BAEEC313E5E4E29BF4753FBFCE21C42"><enum>(b)</enum><text>At the beginning
of each fiscal year, beginning on October 1, 2008, the Secretary of State shall
notify the Secretary of the Treasury of the amount of the first installment
under the most recent amortization schedule established under paragraph (1).
The Secretary of the Treasury shall credit that amount to the Fund, as a
Government contribution, out of any money in the Treasury of the United States
not otherwise
appropriated.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H26E234BCB6014DA2A87BD9ED6153C206"><enum>(e)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 857(b)(1) (<external-xref legal-doc="usc" parsable-cite="usc/22/4071f">22 U.S.C. 4071f(b)(1)</external-xref>) by
striking <quote>equal annual installments</quote> and inserting <quote>annual
installments set in accordance with generally accepted actuarial practices and
principles</quote>.</text>
</subsection><subsection id="HE5A34A678B1749479FCD41DFA1EFC32F"><enum>(f)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 859 (<external-xref legal-doc="usc" parsable-cite="usc/22/4071h">22 U.S.C. 4071h</external-xref>) by adding
<quote>percentage</quote> after <quote>normal cost</quote>.</text>
</subsection><subsection id="H22FDD001471248BFB9B4194DC6200AF"><enum>(g)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 802 (<external-xref legal-doc="usc" parsable-cite="usc/22/4042">22 U.S.C. 4042</external-xref>) by adding at the
end the following: <quote>The Fund is appropriated for the payment of benefits
as provided by this subchapter.</quote>.</text>
</subsection><subsection id="H4F9E8B8EAF7E41ADA6E81CAF5EE9BE96"><enum>(h)</enum><text>Chapter 8 of title
I of the <act-name parsable-cite="FSA80">Foreign Service Act of
1980</act-name>, <external-xref legal-doc="public-law" parsable-cite="pl/96/465">Public Law 96–465</external-xref>, (<external-xref legal-doc="usc" parsable-cite="usc/22/4041">22 U.S.C. 4041 et seq.</external-xref>) 94 Stat. 2071, as
amended, is further amended in section 818 (<external-xref legal-doc="usc" parsable-cite="usc/22/4058">22 U.S.C. 4058</external-xref>) by striking
<quote>System</quote> and inserting <quote>Systems under this
subchapter</quote>.</text>
</subsection></section><section id="HDB0FB5E507E94DBF8569603CB159D52E"><enum>404.</enum><header>Public Health
Service Commissioned Corps Retirement System</header>
<subsection id="H613BE6228E034CACB2292D75A925F08D"><enum>(a)</enum><header>In
General</header><text>Title II of the <act-name parsable-cite="PHSA">Public
Health Service Act</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/42/202">42 U.S.C. 202 et seq.</external-xref>) is amended by adding at
the end the following new part:</text>
<quoted-block act-name="Public Health Service Act" id="HBBFC832118CA442DA5A047A2DA13546E" style="traditional">
<part id="HB3AAC09D39964AD8B583D927488B31D3"><enum>C</enum><header>Public health
service commissioned corps retirement system</header>
<section id="H7D394F0332F84F279638D802D78B83D3"><enum>251.</enum><header>Establishment and purpose of
Fund</header><text>There is
established on the books of the Treasury a fund to be known as the Public
Health Service Commissioned Corps Retirement Fund (hereinafter in this part
referred to as the <quote>Fund</quote>), which shall be administered by the
Secretary. The Fund shall be used for the accumulation of funds in order to
finance on an actuarially sound basis liabilities of the Department of Health
and Human Services for benefits payable on account of retirement, disability,
or death to commissioned officers of the Public Health Service and to their
survivors pursuant to part A of this title.</text>
</section><section id="H59FBC94DAFA34835A4656C6699AFA7E8"><enum>252.</enum><header>Assets of the Fund</header><text>There shall be
deposited into the Fund the following, which shall constitute the assets of the
Fund:</text>
<paragraph id="H54EF19F81FAF4EAFA30069F940CE0602"><enum>(1)</enum><text>Amounts paid into
the Fund under section 255.</text>
</paragraph><paragraph id="HD027364B4CF1402FA9C5F93B2E40DDC7"><enum>(2)</enum><text>Any return on
investment of the assets of the Fund.</text>
</paragraph><paragraph id="H3ABCBA9F6F8E46FBB962369C13E5EAB9"><enum>(3)</enum><text>Amounts
transferred into the Fund pursuant to section 404(c) of the Family Budget
Protection Act of 2007.</text>
</paragraph></section><section id="H7DF569CCA1D8420F9EFE00A5B7996713"><enum>253.</enum><header>Payment from the
Fund</header><text>There shall be
paid from the Fund benefits payable on account of retirement, disability, or
death to commissioned officers of the Public Health Service and to their
survivors pursuant to part A of this title.</text>
</section><section id="HAE25401CA08E4FC49B00226803A465FF"><enum>254.</enum><header>Determination of contributions to the
Fund</header><subsection commented="no" display-inline="yes-display-inline" id="HEEDB961F2C194EE897DB00E38DE5A22E"><enum>(a)</enum><paragraph commented="no" display-inline="yes-display-inline" id="HD5C5442B4B2B433DA9EFE42B001D8D"><enum>(1)</enum><text>Not later than June 30,
2008, the Secretary shall determine the unfunded liability of the Fund
attributable to service performed as of September 30, 2007, which is
<quote>active service</quote> for the purpose of section 212. The Secretary
shall establish an amortization schedule, including a series of annual
installments commencing October 1, 2008, which provides for the liquidation of
such liability by October 1, 2046.</text>
</paragraph><paragraph id="H7E11E6DFB0694BD4A5778C055128E42D" indent="up1"><enum>(2)</enum><text>The Secretary shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year, for each
fiscal year beginning after September 30, 2007, through the fiscal year ending
September 30, 2041, and shall establish a new amortization schedule, including
a series of annual installments commencing on October 1 of the second
subsequent fiscal year, which provides for the liquidation of such liability by
October 1, 2046.</text>
</paragraph><paragraph id="HFD8321F1CA184929B770AA2D4BB62016" indent="up1"><enum>(3)</enum><text>The Secretary shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year for each
fiscal year beginning after September 30, 2041, and shall establish a new
amortization schedule, including a series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over 5 years.</text>
</paragraph></subsection><subsection id="HE0606DBB45B042ABB7FA033560774B5E"><enum>(b)</enum><text>The Secretary
shall determine each fiscal year, in sufficient time for inclusion in the
budget request for the following fiscal year, the total amount of Department of
Health and Human Services contributions to be made to the Fund during the
fiscal year under section 255(a). That amount shall be the sum of—</text>
<paragraph id="H618E44E13B74479BBC3898F6676C267C"><enum>(1)</enum><text>the product
of—</text>
<subparagraph id="H3874676D06594FC2A5DF29F81D3984D1"><enum>(A)</enum><text>the current
estimate of the value of the single level percentage of basic pay to be
determined under subsection (c)(1) at the time of the most recent actuarial
valuation under subsection (c); and</text>
</subparagraph><subparagraph id="H02376C3270B4447EA123B63DAF5F537D"><enum>(B)</enum><text>the total amount
of basic pay expected to be paid during that fiscal year to commissioned
officers of the Public Health Service on active duty (other than active duty
for training); and</text>
</subparagraph></paragraph><paragraph id="H876900A1D4C64D599BCF00548328B9E"><enum>(2)</enum><text>the product
of—</text>
<subparagraph id="HCC4F13C15F9F42A38C32332057548D37"><enum>(A)</enum><text>the current
estimate of the value of the single level percentage of basic pay and of
compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37, United States Code) to
be determined under subsection (c)(2) at the time of the most recent actuarial
valuation under subsection (c); and</text>
</subparagraph><subparagraph id="H7BC0F70A9E5A4D6AB6C99FB92CED9EBB"><enum>(B)</enum><text>the total amount
of basic pay and of compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37,
United States Code) expected to be paid during the fiscal year to commissioned
officers of the Reserve Corps of the Public Health Service (other than officers
on full-time duty other than for training) who are not otherwise described in
subparagraph (A).</text>
</subparagraph></paragraph></subsection><subsection id="HDD644168B999477482AD41233931BB6E"><enum>(c)</enum><text>Not less often
than every four years thereafter (or by the fiscal year end prior to the
effective date of any statutory change affecting benefits payable on account of
retirement, disability, or death to commissioned officers or their survivors),
the Secretary shall carry out an actuarial valuation of benefits payable on
account of retirement, disability, or death to commissioned officers of the
Public Health Service and to their survivors pursuant to part A of this title.
Each such actuarial valuation shall be signed by an enrolled Actuary and shall
include—</text>
<paragraph id="HFA09FBF7A01D4D9E0053A9F219638BB9"><enum>(1)</enum><text>a determination
(using the aggregate entry-age normal cost method) of a single level percentage
of basic pay for commissioned officers of the Public Health Service on active
duty (other than active duty for training); and</text>
</paragraph><paragraph id="HFA776F340885480AA54E712FA735F365"><enum>(2)</enum><text>a determination
(using the aggregate entry-age normal cost method) of a single level percentage
of basic pay and of compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37,
United States Code) of commissioned officers of the Reserve Corps of the Public
Health Service (other than officers on full time duty other than for training)
who are not otherwise described in paragraph (1).</text>
</paragraph></subsection><subsection id="HAB3806CABC4647328DB37F8CF4AB00EE"><enum>(d)</enum><text>All determinations
under this section shall be in accordance with generally accepted actuarial
principles and practices and, where appropriate, shall follow the general
pattern of methods and assumptions approved by the Department of Defense
Retirement Board of Actuaries.</text>
</subsection><subsection id="H674D0D6F84DA4C40AC5389D2A8291242"><enum>(e)</enum><text>The Secretary
shall provide for the keeping of such records as are necessary for determining
the actuarial status of the Fund.</text>
</subsection></section><section id="H5155F386A08B44FBB9798E2465EF1D97"><enum>255.</enum><header>Payments into the
Fund</header><subsection commented="no" display-inline="yes-display-inline" id="H1D24458793214E12B6AA1E00E57DF24F"><enum>(a)</enum><text>From amounts available
to the Department of Health and Human Services for salaries and expenses, the
Secretary shall pay into the Fund at the end of each month the amount that is
the sum of—</text>
<paragraph id="HEE8EF77905A84C85ADA71E9E83E3C706"><enum>(1)</enum><text>the product
of—</text>
<subparagraph id="H6C26FEF30784429EA500E4F4B13FFB9"><enum>(A)</enum><text>the level
percentage of basic pay determined using all the methods and assumptions
approved for the most recent (as of the first day of the current fiscal year)
actuarial valuation under sections 254(c)(1) (except that any statutory change
affecting benefits payable on account of retirement, disability, or death to
commissioned officers or their survivors that is effective after the date of
that valuation and on or before the first day of the current fiscal year shall
be used in such determination); and</text>
</subparagraph><subparagraph id="H4BEA439690074F74A3D1E9516CB26620"><enum>(B)</enum><text>the total amount
of basic pay accrued for that month by commissioned officers of the Public
Health Service on active duty (other than active duty for training); and</text>
</subparagraph></paragraph><paragraph id="HE6EDE2EF9E3A4AB68FBFC7984080C48C"><enum>(2)</enum><text>the product
of—</text>
<subparagraph id="HE20AF88B23D54073BF8587D58047F621"><enum>(A)</enum><text>the level
percentage of basic pay and of compensation (paid pursuant to section 206 of
title 37, United States Code) determined using all the methods and assumptions
approved for the most recent (as of the first day of the current fiscal year)
actuarial valuation under section 254(c)(2) (except that any statutory change
affecting benefits payable on account of retirement, disability, or death to
commissioned officers or their survivors that is effective after the date of
that valuation and on or before the first day of the current fiscal year shall
be used in such determinations); and</text>
</subparagraph><subparagraph id="H467C973E95B74F5A8F41413CB9711D7"><enum>(B)</enum><text>the total amount of
basic pay and of compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37, United
States Code) accrued for that month by commissioned officers of the Reserve
Corps of the Public Health Service (other than officers on full-time duty other
than for training).</text>
</subparagraph></paragraph></subsection><subsection id="H4F103AC82F8C45968F914F9CA39D6FB4"><enum>(b)</enum><text>At the beginning
of each fiscal year, beginning on October 1, 2008, the Secretary shall certify
to the Secretary of the Treasury the amount of the first installment under the
most recent amortization schedule established under section 254(a). The
Secretary of the Treasury shall pay into the Fund from the General Fund of the
Treasury the amount so certified. Such payment shall be the contribution to the
Fund for that fiscal year.</text>
</subsection></section><section id="H46B16DE0FF1B4CAFB5A907E765E344F"><enum>256.</enum><header>Investments of assets of
Fund</header><text>The Secretary may
request the Secretary of the Treasury to invest such portion of the Fund as is
not, in the judgment of the Secretary, required to meet the current needs of
the Fund. Such investments shall be made by the Secretary of the Treasury in
public debt securities with maturities suitable to the needs of the Fund, as
determined by the Secretary, and bearing interest at rates determined by the
Secretary of the Treasury, taking into consideration current market yields on
outstanding marketable obligations of the United States of comparable
maturities. The income on such investments shall be credited to and form a part
of the Fund.</text>
</section><section id="H6B8D1AEA1EB04AE4A300EB11008E7F00"><enum>257.</enum><header>Implementation year
exceptions</header><subsection commented="no" display-inline="yes-display-inline" id="H2E42D114D64A456BAD34763D5EB92F66"><enum>(a)</enum><text>To avoid funding
shortfalls in the first year should formal actuarial determinations not be
available in time for budget preparation, the amounts used in the first year in
sections 255(a)(1)(A) and 255(a)(2)(A) shall be set equal to those estimates in
sections 254(b)(1)(A) and 254(b)(2)(A) if final determinations are not
available. The original unfunded liability as defined in section 254(a) shall
include an adjustment to correct for this difference between the formal
actuarial determinations and the estimates in sections 254(b)(1)(A) and
254(b)(2)(A).</text>
</subsection></section></part><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H8692E5E003F54289AB012DF8B5C790A2"><enum>(b)</enum><header>Conforming
Amendments</header>
<paragraph id="HDBF21AE278864924811B97F720369044"><enum>(1)</enum><header>Condition of
detail</header><text>Section 214 of the <act-name parsable-cite="PHSA">Public
Health Service Act</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/42/215">42 U.S.C. 215</external-xref>) is amended by adding at the end
the following new subsection:</text>
<quoted-block act-name="Public Health Service Act" id="H1AE8A3F9BEEB40D6953827D7DEE55BAA" style="OLC">
<subsection id="HD4758AD3862F43CAA36C8849331E3465"><enum>(e)</enum><text>The Secretary
shall condition any detail under subsection (a), (b), or (c) upon the agreement
of the executive department, State, subdivision, Committee of the Congress, or
institution concerned to pay to the Department of Health and Human Services, in
advance or by way of reimbursement, for the full cost of the detail including
that portion of the contributions under section 255(a) that is attributable to
the detailed
personnel.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HFFFA6688C33A4ADCA3646FD324F99E9"><enum>(2)</enum><header>Sequestration
rule</header><text>Section 256(f) of the Balanced Budget and Emergency Deficit
Control Act of 1985 (<external-xref legal-doc="usc" parsable-cite="usc/2/906">2 U.S.C. 906(f)</external-xref>) is amended—</text>
<subparagraph id="H4292242F6CF34EF3859C414975B8CFA7"><enum>(A)</enum><text>by inserting after
the item relating to <quote>payment to the foreign service retirement and
disability fund</quote> the following item: <quote>Payment to the Public Health
Service Commissioned Corps Retirement Fund (75–0380–0–1–551);</quote>;
and</text>
</subparagraph><subparagraph id="H437D0C3FFB2A45AA9F161B4843544B67"><enum>(B)</enum><text>by inserting after
the item relating to the <quote>Pensions for former Presidents</quote> the
following item: <quote>Public Health Service Commissioned Corps Retirement Fund
(75–8274–0–7–602);</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H550D0A1CD53A4C0B9C19F300BC75DE00"><enum>(c)</enum><header>Transfer of
Appropriations</header><text>There shall be transferred on October 1, 2009,
into the fund established under section 251 of the
<act-name parsable-cite="PHSA">Public Health Service Act</act-name>, as added
by subsection (a), any obligated or unobligated balances of appropriations made
to the Department of Health and Human Services that are currently available for
benefits payable on account of retirement, disability, or death to commissioned
officers of the Public Health Service and to their survivors pursuant to part A
of title II of the <act-name parsable-cite="PHSA">Public Health Service
Act</act-name>, and amounts so transferred shall be part of the assets of the
Fund.</text>
</subsection></section><section id="H5C23FEFB848645598E55874CA08B368"><enum>405.</enum><header>National Oceanic
and Atmospheric Administration Commissioned Officer Corps Retirement
System</header>
<subsection id="H3F786FEA0F42479D8D8E3E0075296CB9"><enum>(a)</enum><header>In
General</header><text>The National Oceanic and Atmospheric Administration
Commissioned Officer Corps Act of 2002 (title II of <external-xref legal-doc="public-law" parsable-cite="pl/107/372">Public Law 107–372</external-xref>) is
amended by inserting after section 246 (<external-xref legal-doc="usc" parsable-cite="usc/33/3046">33 U.S.C. 3046</external-xref>) the following new
section:</text>
<quoted-block id="HBCB2DBB61A8E473B851B4F03DF5F2EF8" style="OLC">
<section id="H10B8559E70244B01A46994B6D4485AE"><enum>246A.</enum>
<subsection id="id101D3E0A8AAC4D4BAB43B8B05128BBEC"><enum>(a)</enum><header>Establishment
and purpose of NOAA commissioned officer corps retirement fund</header><paragraph commented="no" display-inline="yes-display-inline" id="id807BA5EBEE1F40E0BA3B454634B7A779"><enum>(1)</enum><text>There
is established on the books of the Treasury a fund to be known as the National
Oceanic and Atmospheric Administration Commissioned Officer Corps Retirement
Fund (hereinafter in this section referred to as the <quote>Fund</quote>),
which shall be administered by the Secretary. The Fund shall be used for the
accumulation of funds in order to finance on an actuarially sound basis
liabilities of the Department of Commerce under military retirement and
survivor benefit programs for the commissioned officers corps.</text>
</paragraph><paragraph id="H031D5F8594644A95AAB004A0CFC49400" indent="up1"><enum>(2)</enum><text>The term <term>military retirement
and survivor benefit program</term> means—</text>
<subparagraph id="H45476F3133224D25A69182DACB0491AD"><enum>(A)</enum><text>the provisions of this title and title
10, United States Code, creating entitlement to, or determining, the amount of
retired pay;</text>
</subparagraph><subparagraph id="H0E90BCEE09124907AE41009271C399D"><enum>(B)</enum><text>the programs under the jurisdiction of
the Department of Defense providing annuities for survivors and members and
former members of the Armed Forces, including <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/10/73">chapter 73</external-xref> of title 10, section 4
of <external-xref legal-doc="public-law" parsable-cite="pl/92/425">Public Law 92–425</external-xref>, and section 5 of <external-xref legal-doc="public-law" parsable-cite="pl/96/202">Public Law 96–202</external-xref>, as made applicable to
the commissioned officer corps by section 261.</text>
</subparagraph></paragraph></subsection><subsection id="HE1C30AFAFBF64087ADA60540769363EA"><enum>(b)</enum><header>Assets of the
Fund</header><text>There shall be deposited into the Fund the following, which
shall constitute the assets of the Fund:</text>
<paragraph id="H6AA1CF0B94D54BF3B10004CC3BF32710"><enum>(1)</enum><text>Amounts paid into
the Fund under subsection (e).</text>
</paragraph><paragraph id="H4498000709364C8B9F4D5C43DEC5B4B"><enum>(2)</enum><text>Any return on
investment of the assets of the Fund.</text>
</paragraph><paragraph id="H9F5131EC11EC42CCAF263B20501DC8DE"><enum>(3)</enum><text>Amounts
transferred into the Fund pursuant to section 405(c) of the Family Budget
Protection Act of 2007.</text>
</paragraph></subsection><subsection id="H5E383F75CEC24A039C00F403F770E99D"><enum>(c)</enum><header>Payments From
the Fund</header><text>There shall be paid from the Fund benefits payable on
account of military retirement and survivor benefit programs to commissioned
officers of the commissioned officer corps and their survivors.</text>
</subsection><subsection id="H3B42509AB91647B0986CCB5EEE73038E"><enum>(d)</enum><header>Determination of
Contributions to the Fund</header><paragraph commented="no" display-inline="yes-display-inline" id="HC6620BBA31F84BD29DA6E8A0825C1781"><enum>(1)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HF130E9F8110047309973A8E9F217824E"><enum>(A)</enum><text>Not later than June 30,
2007, the Secretary shall determine the unfunded liability of the Fund
attributable to service performed as of September 30, 2007, which is
<quote>active service</quote> for the purpose of this title. The Secretary
shall establish an amortization schedule, including a series of annual
installments commencing October 1, 2008, which provides for the liquidation of
such liability by October 1, 2046.</text>
</subparagraph><subparagraph id="H3570649771AA4C0F91867835655DAB19" indent="up2"><enum>(B)</enum><text>The Secretary shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year, for each
fiscal year beginning after September 30, 2007, through the fiscal year ending
September 30, 2041, and shall establish a new amortization schedule, including
a series of annual installments commencing on September 30 of the subsequent
fiscal year, which provides for the liquidation of such liability by October 1,
2046.</text>
</subparagraph><subparagraph id="H2ED78409E01B4F3F9D04A714EE2DD3E" indent="up2"><enum>(C)</enum><text>The Secretary shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year for each
fiscal year beginning after September 30, 2041, and shall establish a new
authorization schedule, including series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over 5 years.</text>
</subparagraph></paragraph><paragraph id="HDC58EC5B4BFB40AE912C07F140FE605D" indent="up1"><enum>(2)</enum><text>The Secretary shall determine each
fiscal year, in sufficient time for inclusion in the budget request for the
following fiscal year, the total amount of Department of Commerce contributions
to be made to the Fund during that fiscal year under (e). The amount shall be
the product of—</text>
<subparagraph id="H59BF57EE14B640F6BEE69EBF38E68275"><enum>(A)</enum><text>the current estimate of the value of
the single level percentage of basic pay to be determined under subsection (e)
at the time of the most recent actuarial valuation under paragraph (3);
and</text>
</subparagraph><subparagraph id="HF907685915C948F487F80169D37FD9D"><enum>(B)</enum><text>the total amount of basic pay expected
to be paid during that fiscal year to commissioned officers of NOAA on active
duty.</text>
</subparagraph></paragraph><paragraph id="HA5BB731207F744E9B925E9157185DDB5" indent="up1"><enum>(3)</enum><text>Not less often then every four years
(or by the fiscal year end before the effective date of any statutory change
affecting benefits payable on account of retirement, disability, or death to
commissioned officers or their survivors), the Secretary shall carry out an
actuarial valuation of benefits payable on account of military retirement and
survivor benefit programs to commissioned officers of the Administration and to
their survivors. Each such actuarial valuation shall be signed by an enrolled
Actuary and shall include a determination (using the aggregate entry-age normal
cost method) of a single level percentage of basic pay for commissioned
officers on active duty.</text>
</paragraph><paragraph id="H2601C0731FFC4E62804E91C3F82FA264" indent="up1"><enum>(4)</enum><text>All determinations under this section
shall be in accordance with generally accepted actuarial principles and
practices, and, where appropriate, shall follow the general pattern of methods
and assumptions approved by the Department of Defense Retirement Board of
Actuaries.</text>
</paragraph><paragraph id="H92C79CF162A245F3AFBA74F5D9486C43" indent="up1"><enum>(5)</enum><text>The Secretary shall provide for the
keeping of such records as are necessary for determining the actuarial status
of the Fund.</text>
</paragraph></subsection><subsection id="H170CF68A1DEF4971B4C3E33F7242E0EC"><enum>(e)</enum><header>Payments Into
the Fund</header><paragraph commented="no" display-inline="yes-display-inline" id="H3FD25290405947B5A58FDB67E41B144B"><enum>(1)</enum><text>From amounts
appropriated to the National Oceanic Atmospheric Administration for salaries
and expenses, the Secretary shall pay into the Fund at the end of each month
the amount that is the product of—</text>
<subparagraph id="H8627267E4BCC4399AF27A221DFA43200" indent="up1"><enum>(A)</enum><text>the level percentage of basic pay
determined using all the methods and assumptions approved for the most recent
(as of the first day of the current fiscal year) actuarial valuation under
subsection (d) (except that any statutory change affecting benefits payable on
account of military retirement and survivor benefit programs to commissioned
officers of the Administration and to their survivors that is effective date
after the date of that valuation and on or before the first day of the current
fiscal year shall be used in such determination); and</text>
</subparagraph><subparagraph id="HE8EFB4D3C94D4D3CBA16EC842384BDA5" indent="up1"><enum>(B)</enum><text>the total amount of basic pay accrued
for that month by commissioned officers on active duty.</text>
</subparagraph></paragraph><paragraph id="H9E51DBC12E2842168B63BEA7E15899B9" indent="up1"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H47FC2DA2FA304E9C00E8BFA56C2D0612"><enum>(A)</enum><text>At the beginning of each
fiscal year, the Secretary shall determine the sum of—</text>
<clause id="HD84AF86FFDD345DBAEEE6E35AF9EB669" indent="up1"><enum>(i)</enum><text>the amount of the payment for that
year under the amortization of the original unfunded liability of the
Fund;</text>
</clause><clause id="H88C706A4A6BB45AB8233EC78055EF46F" indent="up1"><enum>(ii)</enum><text>the amount (including any negative
amount) for that year under the most recent amortization schedule determined by
the Secretary for the amortization of any cumulative actuarial gain or loss to
the Fund, resulting from changes in benefits; and</text>
</clause><clause id="H26132DFD6A294BDA8B00E9CA03496D45" indent="up1"><enum>(iii)</enum><text>the amount (including any negative
amount) for that year under the most recent amortization schedule determined by
the Secretary for the amortization or any cumulative actuarial gain or loss to
the Fund resulting from changes in actuarial assumptions and from experience
different from the assumed since the last valuation.</text>
</clause><continuation-text continuation-text-level="subparagraph" indent="subsection">The Secretary shall promptly certify the amount of
the sum to the Secretary of the Treasury.</continuation-text></subparagraph><subparagraph id="H44E2A5543B694273A1F91934625400B4" indent="up1"><enum>(B)</enum><text>Upon receiving the certification
pursuant to paragraph (1), the Secretary of the Treasury shall promptly pay
into the Fund from the General Fund of the Treasury the amount so certified.
Such payment shall be the contribution to the Fund for that fiscal year.</text>
</subparagraph></paragraph></subsection><subsection id="H6012EA2F71014E589F18E0F31735EB68"><enum>(f)</enum><header>Investment of
Assets of the Fund</header><text>The Secretary may request the Secretary of the
Treasury to invest such portion of the Fund as is not, in the judgment of the
Secretary, required to meet the current needs of the Fund. Such investments
shall be made by the Secretary of the Treasury in public debt securities with
maturities suitable to the needs of the Fund, as determined by the Secretary,
and bearing interest at rates determined by the Secretary of the Treasury,
taking into consideration current market yields on outstanding marketable
obligations of the United States of comparable maturities. The income of such
investments shall be credited to and form a part of the Fund.</text>
</subsection><subsection id="H23AF0126F610454A8087BE38529BE0F3"><enum>(g)</enum><header>Implementation
Year Exceptions</header><paragraph commented="no" display-inline="yes-display-inline" id="H99F95AA7AAE44ACCA5A05E99EB1DC8B"><enum>(1)</enum><text>To avoid funding
shortfalls in the first year should formal actuarial determinations not be
available in time for budget preparation, the amounts used in the first year in
subsection (e)(1)(A) shall be set equal to the estimate in subsection (d)(2)(A)
if final determinations are not available. The original unfunded liability as
determined in subsection (d)(1) shall include an adjustment to correct for this
difference between the formal actuarial determinations and the estimates in
subsection
(d)(2)(A).</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H20E2BCDB45554F6D8CE5EC663AFA7B"><enum>(b)</enum><header>Sequestration
Rule</header><text>Section 256(f) of the Balanced Budget and Emergency Deficit
Control Act of 1985 (<external-xref legal-doc="usc" parsable-cite="usc/2/906">2 U.S.C. 906(f)</external-xref>) is amended by striking <quote>National
Oceanic and Atmospheric Administration retirement (13–1450–0–1–306);</quote>
and inserting <quote>National Oceanic and Atmospheric Administration
Commissioned Officer Corps Retirement Fund;</quote>.</text>
</subsection><subsection id="HBCE34AB505CD4D970075E52EDB0912B4"><enum>(c)</enum><header>Transfer of
Appropriations</header><text>There shall be transferred on October 1, 2009,
into the fund established under section 246A(a) of the National Oceanic and
Atmospheric Administration Commissioned Officer Corps Act of 2002 (title II of
<external-xref legal-doc="public-law" parsable-cite="pl/107/372">Public Law 107–372</external-xref>, as added by subsection (a)), any obligated and unobligated
balance of appropriations made to the Department of Commerce that are available
as of the date of the enactment of this Act for benefits payable on account of
military retirement and survivor benefit programs to commissioned officers of
the NOAA Commissioned Officer Corps and to their survivors, and amounts so
transferred shall be part of the assets of the Fund, effective October 1,
2009.</text>
</subsection><subsection id="HC83892B7851E44A681B15C11D179002C"><enum>(d)</enum><header>Effective
Date</header><text>Subsection (c) (relating to payments from the Fund) and (e)
(relating to payments into the Fund) of section 246A of the National Oceanic
and Atmospheric Administration Commissioned Officer Corps Act of 2002 (title II
of <external-xref legal-doc="public-law" parsable-cite="pl/107/372">Public Law 107–372</external-xref>, as added by subsection (a)), shall take effect on
October 1, 2007.</text>
</subsection></section><section id="HBA5396E60C8C4F8600A35C116CF2F7F8"><enum>406.</enum><header>Coast Guard
Military Retirement System</header>
<subsection id="H07A1E6CF3BC74A6EA8E1F44BC5A688C0"><enum>(a)</enum><header>Accrual Funding
for Coast Guard Retirement</header>
<paragraph id="H62F838D83D2A4E098C4800D460E692B5"><enum>(1)</enum><header>In
general</header><text><external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/14/11">Chapter 11</external-xref> of title 14, United States Code, is amended by
adding at the end the following new subchapter:</text>
<quoted-block id="H0F2C37EAB4A445C997DAFBCAEBA3034" style="USC">
<subchapter id="H44E7F4C9AD8543B2B07B9E550400BA78"><enum>V</enum><header>COAST GUARD
MILITARY RETIREMENT FUND</header>
<section id="HBDF3F396390E426592585B3F307C9974"><enum>441.</enum><header>Establishment
and purpose of Fund; definitions</header>
<subsection id="H052531BEDD44446DA89F2CB1A7E535D7"><enum>(a)</enum><header>Establishment of
Fund; Purpose</header><text>There is established on the books of the Treasury a
fund to be known as the Coast Guard Military Retirement Fund (hereinafter in
this subchapter referred to as the <quote>Fund</quote>), which shall be
administered by the Secretary. The Fund shall be used for the accumulations of
funds in order to finance on an actuarially sound basis liabilities of the
Coast Guard under military retirement and survivor benefit programs.</text>
</subsection><subsection id="H5F76E10492374CD99E3DEE4553EAB243"><enum>(b)</enum><header>Military
Retirement and Survivor Benefit Programs Defined</header><text>In this
subchapter, the term <term>military retirement and survivor benefit
programs</term> means—</text>
<paragraph id="H5A8CA11F99264770BC2DA600A34EFE"><enum>(1)</enum><text>the provisions of
this title and title 10 creating entitlement to, or determining the amount of,
retired pay;</text>
</paragraph><paragraph id="H82782963515D4B87A2982285B43CB600"><enum>(2)</enum><text>the programs
providing annuities for survivors of members and former members of the armed
forces, including <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/10/73">chapter 73</external-xref> of title 10, section 4 of <external-xref legal-doc="public-law" parsable-cite="pl/92/425">Public Law 92–425</external-xref>, and
section 5 of <external-xref legal-doc="public-law" parsable-cite="pl/96/402">Public Law 96–402</external-xref>; and</text>
</paragraph><paragraph id="H74A3887663C4465B98B672ED6D59DD2E"><enum>(3)</enum><text>the authority
provided in <external-xref legal-doc="usc" parsable-cite="usc/10/1048">section 1048(h)</external-xref> of title 10.</text>
</paragraph></subsection><subsection id="H262EC557ECCE46B9AADE4BCF00D138A7"><enum>(c)</enum><header>Secretary
Defined</header><text>In this subchapter, the term <term>Secretary</term> means
the Secretary of Homeland Security when the Coast Guard is not operating as a
service in the Navy and the Secretary of Defense when the Coast Guard is
operating as a service in the Navy.</text>
</subsection></section><section id="H9ABE58A5DF2F4DEEB36BC28CECE039C9"><enum>442.</enum><header>Assets of the
Fund</header><text display-inline="no-display-inline">There shall be deposited
into the Fund the following, which shall constitute the assets of the
Fund:</text>
<paragraph id="HE20C0EC7EF1B4BA78D28BFDDEA2EF253"><enum>(1)</enum><text>Amounts paid into
the Fund under section 445 of this title.</text>
</paragraph><paragraph id="HDC551E4345EB425A913D497800ED78BE"><enum>(2)</enum><text>Any return on
investment of the assets of the Fund.</text>
</paragraph><paragraph id="H085C39BCD22D4ACEAAB0B0EDE9896C5"><enum>(3)</enum><text>Amounts transferred
into the Fund pursuant to section 406(d) of the Family Budget Protection Act of
2007.</text>
</paragraph></section><section id="H7A99DA483740479481F873232E70829"><enum>443.</enum><header>Payments from
the Fund</header>
<subsection id="HDB349C58A24C49B0A97F5ECEA5F2D29"><enum>(a)</enum><header>In
General</header><text>There shall be paid from the Fund the following:</text>
<paragraph id="HBE4C4859702C4CF9AD98D7C2FBB105FF"><enum>(1)</enum><text>Retired pay
payable to persons on the retired list of the Coast Guard.</text>
</paragraph><paragraph id="HCE37AD3544C6444BAB1CEF9B71481F58"><enum>(2)</enum><text>Retired pay
payable under <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/10/1223">chapter 1223</external-xref> of title 10 to former members of the Coast Guard and
the former United States Lighthouse Service.</text>
</paragraph><paragraph id="HD3091A83A86B4B77B15904223B9E96B0"><enum>(3)</enum><text>Benefits payable
under programs that provide annuities for survivors of members and former
members of the armed forces, including <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/10/73">chapter 73</external-xref> of title 10, section 4 of
<external-xref legal-doc="public-law" parsable-cite="pl/92/425">Public Law 92–425</external-xref>, and section 5 of <external-xref legal-doc="public-law" parsable-cite="pl/96/402">Public Law 96–402</external-xref>.</text>
</paragraph><paragraph id="HFA7E720DFD144931A6FA1FA1D467DCBD"><enum>(4)</enum><text>Amounts payable
under <external-xref legal-doc="usc" parsable-cite="usc/10/1048">section 1048(h)</external-xref> of title 10.</text>
</paragraph></subsection><subsection id="H1E09CA9B541C4867A7A8A2461BC7D868"><enum>(b)</enum><header>Availability of
Assets of the Fund</header><text>The assets of the Fund are hereby made
available for payments under subsection (a).</text>
</subsection></section><section id="HAD2D8025A1CB436296E6065D75F5574B"><enum>444.</enum><header>Determination
of contributions to the Fund</header>
<subsection id="HBC4782C493484802B762E7A6747187DB"><enum>(a)</enum><header>Initial Unfunded
Liability</header><paragraph commented="no" display-inline="yes-display-inline" id="HE8FFBBF2CC7148DEB96D3693E7413EC4"><enum>(1)</enum><text>Not later than June 30,
2008, the Secretary shall determine the unfunded liability of the Fund
attributable to service performed as of September 30, 2007, which is
<quote>active service</quote> for the purposes of section 212. The Secretary
shall establish an amortization schedule, including a series of annual
installments commencing October 1, 2008, which provides for the liquidation of
such liability by October 1, 2046.</text>
</paragraph><paragraph id="H511A451A10854D30A1A31CB89B8E818D" indent="up1"><enum>(2)</enum><text>The Secretary shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year, for each
beginning after September 30, 2007, through the fiscal year ending September
30, 2041, and shall establish a new amortization schedule, including a series
of annual installments commencing on October 1 of the second subsequent fiscal
year, which provides for the liquidation of such liability by October 1,
2046.</text>
</paragraph><paragraph id="HE1AA976191A447129559B0DD2FC588A3" indent="up1"><enum>(3)</enum><text>The Secretary shall redetermine the
unfunded liability of the Fund as of the close of the fiscal year for each
fiscal year beginning after September 30, 2041, and shall establish a new
amortization schedule, including a series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over five years.</text>
</paragraph></subsection><subsection id="H500A3F231CF2465CBB8B73E5773CB544"><enum>(b)</enum><header>Annual
Contributions for Current Services</header><paragraph commented="no" display-inline="yes-display-inline" id="HA0010995A2A54F77B0E0EF160900C8ED"><enum>(1)</enum><text>The Secretary shall
determine each fiscal year, in sufficient time for inclusion in the budget
request for the following fiscal year, the total amount of Department of
Homeland Security, or Department of Defense, contributions to be made to the
Fund during that fiscal year under section 445(a) of this title. That amount
shall be the sum of the following:</text>
<subparagraph id="H5E4E217687C64AADA49196E843D23605" indent="up1"><enum>(A)</enum><text>The product of—</text>
<clause id="HC4C5F08A880343A3B7A7B56C2200096B"><enum>(i)</enum><text>the current estimate of the value
of the single level percentage of basic pay to be determined under subsection
(c)(1)(A) at the time of the most recent actuarial valuation under subsection
(c); and</text>
</clause><clause id="H2497376717CC4C6E8FEBCD614FFFBFFC"><enum>(ii)</enum><text>the total amount of basic pay
expected to be paid during that fiscal year to members of the Coast Guard on
active duty (other than active duty for training).</text>
</clause></subparagraph><subparagraph id="HC7148CC8E38F42E09165A49CE95DDB14" indent="up1"><enum>(B)</enum><text>The product of—</text>
<clause id="H434D17C8EABE4E01A588B3EFD4CA4947"><enum>(i)</enum><text>the current estimate of the value
of the single level percentage of basic pay and of compensation (paid pursuant
to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37) to be determined under subsection (c)(1)(B) at the
time of the most recent actuarial valuation under subsection (c); and</text>
</clause><clause id="H6FE6E007C4B045D3A0BFD11D00DE76B9"><enum>(ii)</enum><text>the total amount of basic pay and
compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37) expected to be paid
during that fiscal year to members of the Coast Guard Ready Reserve (other than
members on full-time Reserve duty other than for training) who are not
otherwise described in subparagraph (A)(ii).</text>
</clause></subparagraph></paragraph><paragraph id="H22500A11CA814A73B1733C4133987678" indent="up1"><enum>(2)</enum><text>The amount determined under paragraph
(1) for any fiscal year is the amount needed to be appropriated to the
Department of Homeland Security for that fiscal year for payments to be made to
the Fund during that year under section 445(a) of this title. The President
shall include not less than the full amount so determined in the budget
transmitted to Congress for that fiscal year under <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105</external-xref> of title 31.
The President may comment and make recommendations concerning any such
amount.</text>
</paragraph></subsection><subsection id="HE9F6F384BC3B4A8995138D425FB25FD5"><enum>(c)</enum><header>Periodic
Actuarial Valuations</header><paragraph commented="no" display-inline="yes-display-inline" id="H7455BDC35D5747B59EDBFE5E3FC903F8"><enum>(1)</enum><text>Not less often than
every four years (or before the effective date of any statutory change
affecting benefits payable on account of retirement, disability, or death to
members of the Coast Guard or their survivors), the Secretary shall carry out
an actuarial valuation of the Coast Guard military retirement and survivor
benefit programs. Each actuarial valuation of such programs shall be signed by
an enrolled actuary and shall include—</text>
<subparagraph id="H7972C976DD0445F0A8A446CD975EFE31" indent="up1"><enum>(A)</enum><text>a determination (using the aggregate
entry-age normal cost method) of a single level percentage of basic pay for
members of the Coast Guard on active duty (other than active duty for
training); and</text>
</subparagraph><subparagraph id="H4EF1318798BE4C5A85457DCF17DDB25D" indent="up1"><enum>(B)</enum><text>a determination (using the aggregate
entry-age normal cost method) of single level percentage of basic pay and of
compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37) for members of the
Ready Reserve of the Coast Guard (other than members on full-time Reserve duty
other than for training) who are not otherwise described in subparagraph
(A).</text>
</subparagraph></paragraph><paragraph id="H996819B67F2849F783F50099D5919C68" indent="up1"><enum>(2)</enum><text>Such single level percentages shall
be used for the purposes of subsection (b) and section 445(a) of this
title.</text>
</paragraph></subsection><subsection id="HD62D552502984E51ABAD003D6237CD94"><enum>(d)</enum><header>Use of Generally
Accepted Actuarial Principles and Practices</header><text>All determinations
under this section shall be in accordance with generally accepted actuarial
principles and practices and, where appropriate, shall follow the general
pattern of methods and assumptions approved by the Department of Defense
Retirement Board of Actuaries.</text>
</subsection><subsection id="HBDA18095032542749BCD205D9B39C6D2"><enum>(e)</enum><header>Records</header><text>The
Secretary shall provide for the keeping of such records as are necessary for
determining the actuarial status of the Fund.</text>
</subsection></section><section id="H1965E2693AEE439EB6A1A5677D25ADDC"><enum>445.</enum><header>Payments into
the Fund</header>
<subsection id="H72BF830DA45540C9A6F273EEB7B38426"><enum>(a)</enum><header>Monthly Accrual
Charge for Current Services</header><text>From amounts appropriated to the
Coast Guard for salaries and expenses, the Secretary shall pay into the Fund at
the end of each month as the Department of Homeland Security, or Department of
Defense, contribution to the Fund for that month the amount that is the sum of
the following:</text>
<paragraph id="HCDA766750983443E95E5AA35EB72BB59"><enum>(1)</enum><text>The product
of—</text>
<subparagraph id="HE296904EB44E48D0A035349D938401F2"><enum>(A)</enum><text>the level
percentage of basic pay determined using all the methods and assumptions
approved for the most recent (as of the first day of the current fiscal year)
actuarial valuation under section 444(c)(1)(A) of this title (except that any
statutory change in the military retirement and survivor benefit systems that
is effective after the date of that valuation and on or before the first day of
the current fiscal year shall be used in such determination); and</text>
</subparagraph><subparagraph id="HDA4428251ECD40DCA81F0073E6C5F9D5"><enum>(B)</enum><text>the total amount
of basic pay accrued for that month by members of the Coast Guard on active
duty (other than active duty for training).</text>
</subparagraph></paragraph><paragraph id="H94D4F24EEE9D4D96B5C532856B2E278"><enum>(2)</enum><text>The product
of—</text>
<subparagraph id="H53F772D2094E41D08B6B0956FD6200AA"><enum>(A)</enum><text>the level
percentage of basic pay and compensation (accrued pursuant to section 206 of
title 37) determined using all the methods and assumptions approved for the
most recent (as of the first day of the current fiscal year) actuarial
valuation under section 444(c)(1)(B) of this title (except that any statutory
change in the military retirement and survivor benefit systems that is
effective after the date of that valuation and on or before the first day of
the current fiscal year shall be used in such determination); and</text>
</subparagraph><subparagraph id="HE3EB0805991A4AEE98301E9BC6C9F8DB"><enum>(B)</enum><text>the total amount
of basic pay and of compensation (paid pursuant to <external-xref legal-doc="usc" parsable-cite="usc/37/206">section 206</external-xref> of title 37)
accrued for that month by members of the Ready Reserve (other than members of
full-time Reserve duty other than for training) who are not otherwise described
in paragraph (1)(B).</text>
</subparagraph></paragraph></subsection><subsection id="H232E0A4597B24E9AA8CECF2ECA9EA8"><enum>(b)</enum><header>Annual Payment for
Unfunded Liabilities</header><paragraph commented="no" display-inline="yes-display-inline" id="HBAEB4B3ED412444D83C38370FE89EB1"><enum>(1)</enum><text>At the beginning of each
fiscal year, beginning on October 1, 2008, the Secretary shall certify to the
Secretary of the Treasury the amount of the first installment under the most
recent amortization schedule established under section 254(a). The Secretary of
the Treasury shall promptly pay into the Fund from the General Fund of the
Treasury the amount so certified. Such payment shall be the contribution to the
Fund for that fiscal year.</text>
</paragraph></subsection></section><section id="H4212FE884FA04F889DBAE18B0BCA303"><enum>446.</enum><header>Investment of
assets of the Fund</header><text display-inline="no-display-inline">The
Secretary may request the Secretary of the Treasury to invest such portion of
the Fund as is not, in the judgment of the Secretary, required to meet the
current needs of the Fund. Such investments shall be made by the Secretary of
the Treasury in public debt securities with maturities suitable to the needs of
the Fund, as determined by the Secretary, and bearing interest at rates
determined by the Secretary of the Treasury, taking into consideration current
market yields on outstanding marketable obligations of the United States of
comparable maturities. The income on such investments shall be credited to and
form a part of the
Fund.</text>
</section></subchapter><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H888CD5B4E57049169CF519A974825EE0"><enum>(2)</enum><header>Technical
amendments</header><text>Such chapter is further amended—</text>
<subparagraph id="H4296DD4CF5E44D96B413FBC783F33E"><enum>(A)</enum><text>by amending the
center heading after the table of sections to read as follows:</text>
<quoted-block id="HFC08B8366A724C3A8B4E288803508B98" style="USC">
<subchapter id="H520D2E6E0DDC4FA7B47BB99EABB7E4CD"><enum>I</enum><header>OFFICERS</header>
</subchapter><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="H70C5FEB525BA4CE8B55B35B37C87876B"><enum>(B)</enum><text>by amending the
center heading after section 336 to read as follows:</text>
<quoted-block id="H9E3CBED7D2AF47BBA2D02D9EA45FFFAF" style="USC">
<subchapter id="H889BC449451044E68F73A4ED2679003E"><enum>II</enum><header>ENLISTED
MEMBERS</header>
</subchapter><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="H4E33E1B7691C471299A31B80D3D2413"><enum>(C)</enum><text>by amending the
center heading after section 373 to read as follows:</text>
<quoted-block id="HA588F7DCD3C8488B832374809877E7D0" style="USC">
<subchapter id="HEFD8EED9DB9E4370B9C788F090ABDBCC"><enum>III</enum><header>GENERAL
PROVISIONS</header>
</subchapter><after-quoted-block>;</after-quoted-block></quoted-block><list list-type="none">
<list-item>and</list-item></list>
</subparagraph><subparagraph id="H78EAE7B8648F4AC1004C1160F7405E58"><enum>(D)</enum><text>by amending the
center heading after section 425 to read as follows:</text>
<quoted-block id="H469A62410E1A47AAAD5ECD12AEAAC3C6" style="USC">
<subchapter id="H4444D2563E2A4D5B9EFF5C0086778286"><enum>IV</enum><header>SPECIAL
PROVISIONS</header>
</subchapter><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="HC7E6B2C799CE460FA266A816116C3300"><enum>(3)</enum><header>Clerical
amendments</header><text>The table of sections at the beginning of such chapter
is amended—</text>
<subparagraph id="HE4681E75142C4355830000D8134BB5F0"><enum>(A)</enum><text>by striking
<quote><header-in-text level="subchapter" style="USC">officers</header-in-text></quote> at the beginning of the table and
inserting <quote><header-in-text level="subchapter" style="USC">subchapter
i—officers</header-in-text></quote>;</text>
</subparagraph><subparagraph id="H77E3516755CA46C6925DA7A51EC255E2"><enum>(B)</enum><text>by striking
<quote><header-in-text level="subchapter" style="USC">enlisted
members</header-in-text></quote> after the item relating to section 336 and
inserting <quote><header-in-text level="subchapter" style="USC">subchapter
ii—enlisted members</header-in-text></quote>;</text>
</subparagraph><subparagraph id="HE40C21F989804E9ABB16306C77000076"><enum>(C)</enum><text>by striking
<quote><header-in-text level="subchapter" style="USC">general
provisions</header-in-text></quote> after the item relating to section 373 and
inserting <quote><header-in-text level="subchapter" style="USC">subchapter
iii—general provisions</header-in-text></quote> ;</text>
</subparagraph><subparagraph id="H98FB64E90B8E49F7803466DB3BE66C61"><enum>(D)</enum><text>by striking
<quote><header-in-text level="subchapter" style="USC">special
provisions</header-in-text></quote> after the item relating to section 425 and
inserting <quote><header-in-text level="subchapter" style="USC">subchapter
iv—special provisions</header-in-text></quote> ; and</text>
</subparagraph><subparagraph id="H3F02363B7D714CA9AD27E126A0741DFB"><enum>(E)</enum><text>by adding at the
end the following:</text>
<quoted-block id="H40DCBE1D51C54D5A87E82F62A2EBE1DC" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="subchapter">SUBCHAPTER V—COAST GUARD MILITARY
RETIREMENT FUND</toc-entry>
<toc-entry level="section">441. Establishment and purpose of Fund;
definitions.</toc-entry>
<toc-entry level="section">442. Assets of the Fund.</toc-entry>
<toc-entry level="section">443. Payments from the Fund.</toc-entry>
<toc-entry level="section">444. Determination of contributions to the
Fund.</toc-entry>
<toc-entry level="section">445. Payments into the Fund.</toc-entry>
<toc-entry level="section">446. Investment of assets of the
Fund.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph></subsection><subsection id="H9CDCD88219EE43C381BB4517CF628E49"><enum>(b)</enum><header>Implementation
Year Exceptions</header><text>To avoid funding shortfalls in the first year of
implementation of subchapter V of <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/14/11">chapter 11</external-xref> of title 14, United States Code,
as added by subsection (a), if formal actuarial determinations are not
available in time for budget preparation, the amounts used in the first year
under sections 445(a)(1)(A) and 445(a)(2)(A) of such title shall be set equal
to those estimates in sections 444(b)(1)(A)(i) and 444(b)(1)(B)(i),
respectively, of such title if final determinations are not available. The
original unfunded liability, as defined in section 444(a) of such title, shall
include an adjustment to correct for this difference between the formal
actuarial determinations and the estimates in sections 444(b)(1)(A)(i) and
444(b)(1)(B)(i) of such title.</text>
</subsection><subsection id="H7A2DF7C7DFF44AB4A122B8C280B7A516"><enum>(c)</enum><header>Conforming
Amendment</header><text>Section 256(f) of the Balanced Budget and Emergency
Deficit Control Act of 1985 (<external-xref legal-doc="usc" parsable-cite="usc/2/906">2 U.S.C. 906(f)</external-xref>) is amended by striking
<quote>Retired Pay, Coast Guard (69–0241–0–1–403)</quote> and inserting
<quote>Coast Guard Military Retirement Fund (69–0241–01–403)</quote>.</text>
</subsection><subsection id="HD7BC0CA587CE4A81AC425F57FDAAEC58"><enum>(d)</enum><header>Transfer of
Existing Balances</header>
<paragraph id="HA7E382AD11C84F95AF6C19EEDDAE48F"><enum>(1)</enum><header>Transfer</header><text>There
shall be transferred into the Fund on October 1, 2008, any obligated and
unobligated balances of appropriations made to the Department of Homeland
Security that are currently available for retired pay, and amounts so
transferred shall be part of the assets of the Fund.</text>
</paragraph><paragraph id="HEB0616A3326443F09EFE8F6B7D549BC1"><enum>(2)</enum><header>Fund
defined</header><text>For purposes of paragraph (1), the term <term>Fund</term>
means the Coast Guard Military Retirement Fund established under section 441 of
title 14, United States Code, as added by subsection (a).</text>
</paragraph></subsection><subsection id="H5C8E86E7876C405BB327DB1FB6C6E947"><enum>(e)</enum><header>Effective
Date</header><text>Sections 443 (relating to payments from the Fund) and 445
(relating to payments into the Fund) of title 14, United States Code, as added
by subsection (a), shall take effect on October 1, 2008.</text>
</subsection></section></subtitle><subtitle id="H614871A23CF244A2BCA4A120A91407B"><enum>B</enum><header>Accrual Funding of
Post-Retirement Health Benefits Costs for Federal Employees</header>
<section id="H78CF19CD4FC54F328FA2023F40D55688"><enum>411.</enum><header>Federal
employees health benefits fund</header>
<subsection id="HB2E499FF59C84D17AA7C44AFB86C351F"><enum>(a)</enum><text>Section 8906 of
title 5, United States Code, is amended—</text>
<paragraph id="H2324C72BA2B648C68585346CFAC96EC"><enum>(1)</enum><text>by
redesignating subsection (c) as subsection (c)(1) and by adding at the end the
following new paragraphs:</text>
<quoted-block id="HC4EB5053ED174820005C2BB52FC53D08" style="OLC">
<paragraph id="H63F0644FDD1E4F10004399B27739F358" indent="up1"><enum>(2)</enum><text>In addition to Government
contributions required by subsection (b) and paragraph (1), each employing
agency shall contribute amounts as determined by the Office to be necessary to
prefund the accruing actuarial cost of post-retirement health benefits for each
of the agency’s current employees who are eligible for Government contributions
under this section. Amounts under this paragraph shall be paid by the employing
agency separate from other contributions under this section, from the
appropriations or fund used for payment of the salary of the employee, on a
schedule to be determined by the Office.</text>
</paragraph><paragraph id="H7EE0B19CAD4F444CAF182045DB31DCD0" indent="up1"><enum>(3)</enum><text>Paragraph (2) shall not apply to the
United States Postal Service or the government of the District of
Columbia.</text>
</paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="H6CA7CE3ED22D41089383B2000048460"><enum>(2)</enum><text>by
amending subsection (g)(1) to read as follows:</text>
<quoted-block id="HC1B372375E75402B82326100FCD28D24" style="OLC">
<subsection id="HA6978CB15E42482B9FE04BE925DAE942"><enum>(g)</enum><paragraph commented="no" display-inline="yes-display-inline" id="HB74B2425F98541DE9DE3A3C6D6A35CA3"><enum>(1)</enum><text>Except as provided in
paragraphs (2) and (3), all Government contributions authorized by this section
for health benefits for an annuitant shall be paid from the Employees Health
Benefits Fund to the extent that funds are available in accordance with section
8909(h)(6) and, if necessary, from annual appropriations which are authorized
to be made for that purpose and which may be made available until
expended.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H3433B9B3740140DF8D444094762984BD"><enum>(b)</enum><text>Section 8909 of
title 5, United States Code, is amended by adding at the end the following new
subsection:</text>
<quoted-block id="H5AFDB468888848BA97C115D3E05B95A0" style="OLC">
<subsection id="HEF726DB8547D446D9E993BC560A214D2"><enum>(h)</enum><paragraph commented="no" display-inline="yes-display-inline" id="H68B1F4F67F3A44CC931616704D3D9078"><enum>(1)</enum><text>Not later than June 30,
2009, the Office shall determine the existing liability of the Fund for
post-retirement health benefits, excluding the liability of the United States
Postal Service for service under section 8906(g)(2), under this chapter as of
September 30, 2009. The Office shall establish an amortization schedule,
including a series of annual installments commencing September 30, 2009, which
provides for the liquidation of such liability by September 30, 2045.</text>
</paragraph><paragraph id="H584AB17317B846B9B8E83EEBB299F22C" indent="up1"><enum>(2)</enum><text>At the close of each fiscal year, for
fiscal years beginning after September 30, 2008, the Office shall determine the
supplemental liability of the Fund for post-retirement health benefits,
excluding the liability attributable to the United States Postal Service for
service subject to section 8906(g)(2), and shall establish an amortization
schedule, including a series of annual installments commencing on September 30
of the subsequent fiscal year, which provides for liquidation of such
supplemental liability over 30 years.</text>
</paragraph><paragraph id="HDBE719AFB9114060AB003F2DAF96AFDA" indent="up1"><enum>(3)</enum><text>Amortization schedules established
under this paragraph shall be set in accordance with generally accepted
actuarial practices and principles.</text>
</paragraph><paragraph id="HBF1AC7E1DCA34D96BFBB989FAFEBE993" indent="up1"><enum>(4)</enum><text>At the end of each fiscal year on and
after September 30, 2009, the Office shall notify the Secretary of the Treasury
of the amounts of the next installments under the most recent amortization
schedules established under paragraphs (1) and (2). Before closing the accounts
for the fiscal year, the Secretary shall credit the sum of these amounts
(including in that sum any negative amount for the amortization of the
supplemental liability) to the Fund, as a Government contribution, out of any
money in the Treasury of the United States not otherwise appropriated.</text>
</paragraph><paragraph id="HD4D29323ADB943D297A413C617958D0" indent="up1"><enum>(5)</enum><text>For the purpose of carrying out
paragraphs (1) and (2), the Office shall perform or arrange for actuarial
determinations and valuations and shall prescribe retention of such records as
it considers necessary for making periodic actuarial valuations of the
Fund.</text>
</paragraph><paragraph id="H0FEFEC54CE8F4CD58FE314725F0591C" indent="up1"><enum>(6)</enum><text>Notwithstanding subsection (b), the
amounts deposited into the Fund pursuant to this subsection and section
8906(c)(2) to prefund post-retirement health benefits costs shall be segregated
within the Fund so that such amounts, as well as earnings and proceeds under
subsection (c) attributable to them, may be used exclusively for the purpose of
paying Government contributions for post-retirement health benefits costs. When
such amounts are used in combination with amounts withheld from annuitants to
pay for health benefits, a portion of the contributions shall then be set aside
in the Fund as described in subsection (b).</text>
</paragraph><paragraph id="H00E56C85BB024707AE37AEADCD93D529" indent="up1"><enum>(7)</enum><text>Under this subsection,
<quote>supplemental liability</quote> means—</text>
<subparagraph id="H903E51E3551648D9927281C788F0A866"><enum>(A)</enum><text>the actuarial present value for future
post-retirement health benefits that are the liability of the Fund, less</text>
</subparagraph><subparagraph id="H62ED8C99BBF24C1F8FD8B1B9E469B5E"><enum>(B)</enum><text>the sum of—</text>
<clause id="H0E4913C8E9FE442389FED521299900F3"><enum>(i)</enum><text>the actuarial present value of all
future contributions by agencies and annuitants to the Fund toward those
benefits pursuant to section 8906;</text>
</clause><clause id="HFE8441C0C63949BCAAE3A6B369DCAD14"><enum>(ii)</enum><text>the present value of all scheduled
amortization payments to the Fund pursuant to paragraphs (1) and (2);</text>
</clause><clause id="HEDD0E703071F4F82007486D837E64B55"><enum>(iii)</enum><text>the Fund balance as of the date
the supplemental liability is determined, to the extent that such balance is
attributable to post-retirement benefits; and</text>
</clause><clause id="H277BC44B6EC340B2A68575F6ADFF679C"><enum>(iv)</enum><text>any other appropriate amount, as
determined by the Office in accordance with generally accepted actuarial
practices and
principles.</text>
</clause></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="H5A38A0A466A2468B96EC96F1B3B1A783"><enum>412.</enum><header>Funding
Uniformed Services health benefits for all retirees</header><text display-inline="no-display-inline">Title 10, United States Code, is
amended—</text>
<paragraph id="HDEE839A2E02C491A86ABA55CBD98A06B"><enum>(1)</enum><text>in the title of
chapter 56, by striking <quote><header-in-text level="chapter" style="USC">DEPARTMENT OF DEFENSE MEDICARE-ELIGIBLE</header-in-text></quote>
and inserting <quote><header-in-text level="chapter" style="USC">UNIFORMED
SERVICES</header-in-text></quote>;</text>
</paragraph><paragraph id="H4CAF11039C2B41258C3DE53C1BE57FC"><enum>(2)</enum><text>in
section 1111—</text>
<subparagraph id="H01DB11DE77654A84B14C777B0896442C"><enum>(A)</enum><text>in subsection
(a)—</text>
<clause id="HCEAE2A557E3E4D80AA4F3E1EE0B8811D"><enum>(i)</enum><text>by
striking <quote>Department of Defense Medicare-Eligible</quote> and inserting
<quote>Uniformed Services</quote>;</text>
</clause><clause id="HDC697F4EFD944B5CBA21F5500069AB57"><enum>(ii)</enum><text>by
striking <quote>Department of Defense under</quote>; and</text>
</clause><clause id="HF8E67BBE72F046E8A546EB3336755221"><enum>(iii)</enum><text>by
striking <quote>for medicare-eligible beneficiaries</quote>;</text>
</clause></subparagraph><subparagraph id="H3891C5DE18B24122002EB30138A288CF"><enum>(B)</enum><text>in subsection
(c)—</text>
<clause id="H02E9541EAEA74B7D983FF8D16D72884D"><enum>(i)</enum><text>by
striking <quote>The Secretary of Defense may</quote> and inserting <quote>The
Secretary of Defense shall</quote>;</text>
</clause><clause id="H744D31992A82429690D18DCB61CA20D5"><enum>(ii)</enum><text>by
striking <quote>with any other</quote> and inserting <quote>with
each</quote>;</text>
</clause><clause id="H5C362A5DFABC40FDA544C8C24048E7D7"><enum>(iii)</enum><text>by
striking <quote>Any such agreement</quote> and inserting <quote>Such
agreements</quote>; and</text>
</clause><clause id="H843A47AC71FA46C296E79C319FFD4FC9"><enum>(iv)</enum><text>by
striking <quote>administering Secretary may</quote> and inserting
<quote>administrative Secretary shall</quote>;</text>
</clause></subparagraph></paragraph><paragraph id="H6395C3C04BB64FD0A27414E61CE3D039"><enum>(3)</enum><text>in section
1113—</text>
<subparagraph id="H4E837D951F044275BA7EDEDA008309C3"><enum>(A)</enum><text>in subsection
(a)—</text>
<clause id="H4810168DB94644FA97B730CC6D96A559"><enum>(i)</enum><text>by
striking <quote>and are medicare eligible</quote>;</text>
</clause><clause id="HE064B7B0EC9D4A66A1C206B8C2A8D695"><enum>(ii)</enum><text>by
striking <quote>who are medicare eligible</quote>; and</text>
</clause><clause id="H68AD5088B54A4219B2BD71E5CBDC8D7B"><enum>(iii)</enum><text>by
adding at the end the following new sentence: <quote>For the fiscal year
starting October 1, 2007, only, the payments will be solely for the costs of
members or former members of a uniformed service who are entitled to retired or
retainer pay and are medicare-eligible, and eligible dependents or survivors
who are medicare-eligible.</quote>;</text>
</clause></subparagraph><subparagraph id="H9B81B50EEDE34137862C7F33D46417C8"><enum>(B)</enum><text>in subsection
(c)(1), by striking <quote>who are medicare-eligible</quote>;</text>
</subparagraph><subparagraph id="HBCD72987BAAE45828FF5AEBD3F103FD"><enum>(C)</enum><text>in subsection (d),
by striking <quote>who are medicare-eligible</quote>; and</text>
</subparagraph><subparagraph id="H25E8A9B5A89A4AA9A0C0615C36F3E36F"><enum>(D)</enum><text>in subsection (f),
by striking <quote>If</quote> and inserting <quote>When</quote>;</text>
</subparagraph></paragraph><paragraph id="HD0B834E6767E476883C92E9569248D4F"><enum>(4)</enum><text>in section 1114,
in subsection (a)(1), by striking <quote>Department of Defense
Medicare-Eligible</quote> and inserting <quote>Uniformed
Services</quote>;</text>
</paragraph><paragraph id="HE5D697BD4F934B079400EDDC1DDA552"><enum>(5)</enum><text>in
section 1115—</text>
<subparagraph id="H2773A728C02740CFB841027DE51372DE"><enum>(A)</enum><text>in subsection
(b)(2), by striking <quote>The amount determined under paragraph (1) for any
fiscal year is the amount needed to be appropriated to the Department of
Defense (or to the other executive department having jurisdiction over the
participating uniformed service)</quote> and inserting <quote>The amount
determined under paragraph (1), or the amount determined under section 1111(c)
for a participating uniformed service, for any fiscal year, is the amount
needed to be appropriated to the Department of Defense (or to any other
executive department having jurisdiction over a participating uniformed
service)</quote>;</text>
</subparagraph><subparagraph id="H5BDC8470BAD2475298105BAC734A6E7"><enum>(B)</enum><text>in subsection
(c)(2), by striking <quote>for medicare eligible beneficiaries</quote>;
and</text>
</subparagraph><subparagraph id="H94A499C4F2824E4AB63DB709F350F16D"><enum>(C)</enum><text>by adding at the
end the following new subsection:</text>
<quoted-block id="H03D539AAA9C64683A297E7E85BE900CA" style="OLC">
<subsection id="H69166AA6160C497385DC7C00B19E64BA"><enum>(f)</enum><text>For the fiscal
year starting October 1, 2007, only, the amounts in this section shall be based
solely on the costs of medicare-eligible benefits of beneficiaries and the
costs for their eligible dependents or survivors who are medicare-eligible, and
shall be recalculated thereafter to reflect the cost of beneficiaries defined
in section 1111.</text>
</subsection><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="HCDFCFCD0A1C341369D5E504FB78267EA"><enum>(6)</enum><text>in section
1116—</text>
<subparagraph id="H074FF135D43849B0B65856B3DC639BE4"><enum>(A)</enum><text>in subsection
(a)(1)(A), by striking <quote>for medicare-eligible
beneficiaries</quote>;</text>
</subparagraph><subparagraph id="HDB4A39278EF249F987DDF8B9B940B4DD"><enum>(B)</enum><text>in subsection
(a)(2)(A), by striking <quote>for medicare-eligible beneficiaries</quote>;
and</text>
</subparagraph><subparagraph id="HEE937A8C2AD84087BB9821AAD194F488"><enum>(C)</enum><text>in subsection (c),
by striking <quote>subsection (a) shall be paid from funds available for the
health care programs</quote> and inserting <quote>subsection (a) and section
1111(c) shall be paid from funds available for the pay of members of the
participating uniformed services under the jurisdiction of the respective
administering secretaries</quote>.</text>
</subparagraph></paragraph></section><section id="H18738CB05E5845A89798F936012E1B4F"><enum>413.</enum><header>Effective
date</header><text display-inline="no-display-inline">Except as otherwise
provided, this title shall take effect upon enactment with respect to fiscal
years beginning after 2008.</text>
</section></subtitle><subtitle id="H416721E879A145EA8699CF00379380FB"><enum>C</enum><header>Earmark
Transparency</header>
<section id="H5D2520810A474FF5AFC556FAE1A9193F"><enum>421.</enum><header>Prohibition on
obligation of funds for earmarks included only in Congressional
reports</header>
<subsection id="H12248D146398400F806B5F849C4B5C89"><enum>(a)</enum><header>Requirement That
Earmarks Must Be in Legislative Text</header><text>Notwithstanding any other
rule of the House, in addition to the requirements set forth in clause 9 of
rule XXI of the Rules of the House of Representatives, it shall not be in order
to consider any bill, joint resolution, amendment thereto, or conference report
thereon, unless the list of congressional earmarks, limited tax benefits, and
limited tariff benefits, required by clause 9(a)of rule XXI are also set forth
in the text of such measure.</text>
</subsection><subsection id="H545F8C664D3F4A4597FF7C80F084FB95"><enum>(b)</enum><header>Availability on
the Internet</header><text>Notwithstanding any other rule of the House, in
addition to the requirements set forth in clause 9 of rule XXI of the Rules of
the House of Representatives, it shall not be in order to consider any bill,
joint resolution, or conference report thereon, unless the lists required by
paragraphs (1), (2), and (4) of clause 9 of rule XXI are made available on the
Internet in a searchable format to the general public for at least 48 hours
before consideration.</text>
</subsection></section><section id="HE55B02E4B5824A87826F26662FE8AD3E"><enum>422.</enum><header>Definitions</header>
<subsection id="H4B6EA747B623472A9304CB03CE385295"><enum>(a)</enum><header>Congressional
Earmark</header><text>For purposes of this subtitle, the term
<term>congressional earmark</term> means a provision or report language
included primarily at the request of a Member, Delegate, Resident Commissioner,
or Senator providing, authorizing or recommending a specific amount of
discretionary budget authority, credit authority, or other spending authority
for a contract, loan, loan guarantee, grant, loan authority, or other
expenditure with or to an entity, or targeted to a specific State, locality or
Congressional district, other than through a statutory or administrative
formula-driven or competitive award process.</text>
</subsection><subsection id="HD99259F69EFA42178782977D63306FB2"><enum>(b)</enum><header>Limited
Benefits</header>
<paragraph id="H8CC80981A2F04164922706B113CD3F4C"><enum>(1)</enum><header>Limited tariff
benefit</header><text>The term <term>limited tariff benefit</term> means any
provision of law that modifies the Harmonized Tariff Schedule of the United
States in a manner that benefits 10 or fewer entities (as defined in paragraph
(12)(B)).</text>
</paragraph><paragraph id="HC28F7697B7FD494A9164E7B3D1E72626"><enum>(2)</enum><header>Limited tax
benefit</header><subparagraph commented="no" display-inline="yes-display-inline" id="HAD169312A0C947EB84E5231DA730947E"><enum>(A)</enum><text>The term <term>limited
tax benefit</term> means any revenue-losing provision that provides a Federal
tax deduction, credit, exclusion, or preference to ten or fewer beneficiaries
(determined with respect to either present law or any provision of which the
provision is a part) under the Internal Revenue Code of 1986 in any year for
which the provision is in effect;</text>
</subparagraph><subparagraph id="HC9E32F3D751C47F7B37490AE9FCE17C" indent="up1"><enum>(B)</enum><text>For purposes of subparagraph
(A)—</text>
<clause id="H7A88D78ADF9240319CBF0259F6EA1FD"><enum>(i)</enum><text>all businesses and associations
that are members of the same controlled group of corporations (as defined in
<external-xref legal-doc="usc" parsable-cite="usc/26/1563">section 1563(a)</external-xref> of the Internal Revenue Code of 1986) shall be treated as a
single beneficiary;</text>
</clause><clause id="H6FE6DB8CFCCE4436008D576F308D7EC8"><enum>(ii)</enum><text>all shareholders, partners,
members, or beneficiaries of a corporation, partnership, association, or trust
or estate, respectively, shall be treated as a single beneficiary;</text>
</clause><clause id="H4BB09EFDE4D047D990977FCDE808EE5"><enum>(iii)</enum><text>all employees of an employer
shall be treated as a single beneficiary;</text>
</clause><clause id="HF1C5492AC821491A8F0400D9C888802F"><enum>(iv)</enum><text>all qualified plans of an employer
shall be treated as a single beneficiary;</text>
</clause><clause id="HC9242198278D41BB9147F32100C91154"><enum>(v)</enum><text>all beneficiaries of a qualified
plan shall be treated as a single beneficiary;</text>
</clause><clause id="H8835E033D41F4B6490ADC6CCD1DCD811"><enum>(vi)</enum><text>all contributors to a charitable
organization shall be treated as a single beneficiary;</text>
</clause><clause id="H7CAEF65D31CE4290B566193300076D6C"><enum>(vii)</enum><text>all holders of the same bond
issue shall be treated as a single beneficiary; and</text>
</clause><clause id="HCF3A5B8D7CFF42459DE1DB1C9696C87C"><enum>(viii)</enum><text>if a corporation, partnership,
association, trust or estate is the beneficiary of a provision, the
shareholders of the corporation, the partners of the partnership, the members
of the association, or the beneficiaries of the trust or estate shall not also
be treated as beneficiaries of such provision;</text>
</clause></subparagraph><subparagraph id="H7D3AE7FC01714F929DE8FE75922054" indent="up1"><enum>(C)</enum><text>For the purpose of this paragraph, the
term <term>revenue-losing provision</term> means any provision that is
estimated to result in a reduction in Federal tax revenues (determined with
respect to either present law or any provision of which the provision is a
part) for any one of the two following periods—</text>
<clause id="HFC6DF3469BBF48E3B2697E99D6ACEBD0"><enum>(i)</enum><text>the first fiscal year for which the
provision is effective; or</text>
</clause><clause id="H91F1C278BEAD4310B105AA4B31C2D305"><enum>(ii)</enum><text>the period of the 5 fiscal years
beginning with the first fiscal year for which the provision is
effective;</text>
</clause></subparagraph><subparagraph id="HB0AD4DAF96AB44B0B3D8D5C262E11F00" indent="up1"><enum>(D)</enum><text>the term <term>limited tax
benefit</term> does not include any provision which applies uniformly to an
entire industry; and</text>
</subparagraph><subparagraph id="H7D97D706B8D24B458FF943194B116347" indent="up1"><enum>(E)</enum><text>the terms used in this paragraph shall
have the same meaning as those terms have generally in the Internal Revenue
Code of 1986, unless otherwise expressly provided.</text>
</subparagraph></paragraph></subsection><subsection id="H64ABB4D9E556405EA3E62B32AE819936"><enum>(c)</enum><header>Special
Rule</header><text>Notwithstanding any other provision of the Rules of the
House, the definitions set forth in this section shall apply for congressional
earmarks, limited tariff benefits, and limited tax benefits.</text>
</subsection></section></subtitle><subtitle id="HCC401E38137C437B9B3BA433D0B59135"><enum>D</enum><header>Public Debt Limit
Reform</header>
<section id="H752C15E23F854975ADBA11C0096579D"><enum>431.</enum><header>Limit on public
debt</header><text display-inline="no-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/31/3101">Section 3101</external-xref> of title 31,
United States Code, is amended to read as follows:</text>
<quoted-block id="H16B6E9E7507B46B08B472CA04E8F16EF" style="USC">
<section id="HA675F7C5D53F4438A24E00019C00DE64"><enum>3101.</enum><header>Public debt
limit</header>
<subsection id="HF4485296A2DB4935B190B4D68D53DD3F"><enum>(a)</enum><text>In this section,
the current redemption value of an obligation issued on a discount basis and
redeemable before maturity at the option of its holder is deemed to be the face
amount of the obligation.</text>
</subsection><subsection id="HE07E4B6BFB4D4A31923EDF8FA154C947"><enum>(b)</enum><text>The face amount of
obligations issued under this chapter and the face amount of obligations whose
principal and interest are guaranteed by the United States Government (except
guaranteed obligations held by the Secretary of the Treasury and
intragovernmental holdings) may not be more than $4,393,000,000,000 outstanding
at one time, subject to changes periodically made in that amount as provided by
law.</text>
</subsection><subsection id="HDB63204BBF784F16BDC2D47845D366E3"><enum>(c)</enum><text>For purposes of
this section, the face amount, for any month, of any obligation issued on a
discount basis that is not redeemable before maturity at the option of the
holder of the obligation is an amount equal to the sum of—</text>
<paragraph id="H77EDFFBEDA7B4B608BF361616D5BCC9B"><enum>(1)</enum><text>the original issue
price of the obligation, plus</text>
</paragraph><paragraph id="H92EB3CADD7D64E37B6AFD6817FB8A301"><enum>(2)</enum><text>the portion of the
discount on the obligation attributable to periods before the beginning of such
month (as determined under the principles of section 1272(a) of the Internal
Revenue Code of 1986 without regard to any exceptions contained in paragraph
(2) of such section).</text>
</paragraph></subsection><subsection id="HF925E4A0D8DA4DE08F1B49B29754756F"><enum>(d)</enum><text>For purposes of
this section, the term <term>intragovernment holding</term> is any obligation
issued by the Secretary of the Treasury to any Federal trust fund or Government
account, whether in respect of public money, money otherwise required to be
deposited in the Treasury, or amounts
appropriated.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="H5FA01B69E881482B896608DA00F9DC3F"><enum>432.</enum><header>Repeal of the
Gephardt Rule</header><text display-inline="no-display-inline">The Rules of the
House of Representatives are amended by repealing rule XXVII (relating to the
statutory limit on public debt) and by redesignating rule XXVIII as rule
XXVII.</text>
</section></subtitle><subtitle id="HA977A411340E4663A33598D6B357B30"><enum>E</enum><header>Risk-Assumed
Budgeting</header>
<section id="HFC60ED6E28C84189BFEA596001C8E687"><enum>441.</enum><header>Federal
insurance programs</header>
<subsection id="HB163EDCF07A3493181ECEC927D5691A"><enum>(a)</enum><header>In
General</header><text>The Congressional Budget Act of 1974 is amended by adding
after title V the following new title:</text>
<quoted-block id="H758ED6E06AB0473CB3FA000876F7ADA" style="OLC">
<title id="HB9CE3D413CBC4DBA872209113CB61746"><enum>VI</enum><header>BUDGETARY
TREATMENT OF FEDERAL INSURANCE PROGRAMS</header>
<section id="HFAB271964D9F4616AD78C8BFBF06C34"><enum>602.</enum><header>Budgetary
treatment</header>
<subsection id="HE5FE5021E77042B69FF912F150A8928"><enum>(a)</enum><header>President’s
Budget</header><text>Beginning with fiscal year 2011, the budget of the
Government pursuant to <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code, shall
be based on the risk-assumed cost of Federal insurance programs.</text>
</subsection><subsection id="H4C18A9C55626401C8E0952B5D053CAD6"><enum>(b)</enum><header>Budget
Accounting</header><text>For any Federal insurance program—</text>
<paragraph id="H55184E1DC735434FBEFB978DF35007F"><enum>(1)</enum><text>the program account
shall—</text>
<subparagraph id="HE908DA9E034E4DD29041A94B43989D79"><enum>(A)</enum><text>pay the
risk-assumed cost borne by the taxpayer to the financing account, and</text>
</subparagraph><subparagraph id="H0116EE22115644E5A3AB97BF01D0941D"><enum>(B)</enum><text>pay actual
insurance program administrative costs;</text>
</subparagraph></paragraph><paragraph id="HDC9B864EC1A24C68972F00005811A69E"><enum>(2)</enum><text>the financing
account shall—</text>
<subparagraph id="H99FC472D1F26492DB939C6F5C797D300"><enum>(A)</enum><text>receive premiums
and other income,</text>
</subparagraph><subparagraph id="HF4A599F9122B493595DA1F78D2113DD6"><enum>(B)</enum><text>pay all claims for
insurance and receive all recoveries,</text>
</subparagraph><subparagraph id="H4F66823E1ED04D0D91C200D2A63C7D1B"><enum>(C)</enum><text>transfer to the
program account on not less than an annual basis amounts necessary to pay
insurance program administrative costs;</text>
</subparagraph></paragraph><paragraph id="H2BBCB86FD64C47A2834C6F1C6912077B"><enum>(3)</enum><text>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</text>
</paragraph><paragraph id="HB07F133E90E24E80AA3C5440C4C8B92D"><enum>(4)</enum><text>all payments by or
receipts of the financing accounts shall be treated in the budget as a means of
financing.</text>
</paragraph></subsection><subsection id="H194FB1DC75F64FE8A85FFF195FD2EE69"><enum>(c)</enum><header>Appropriations
Required</header><paragraph commented="no" display-inline="yes-display-inline" id="H80DF56EB60CA4C3CB58BA1DB002B9746"><enum>(1)</enum><text>Notwithstanding any
other provision of law, insurance commitments may be made for fiscal year 2011
and thereafter only to the extent that new budget authority to cover their
risk-assumed cost is provided in advance in an appropriation Act.</text>
</paragraph><paragraph id="HF17802FD271F48DBB813BB4225A00081" indent="up1"><enum>(2)</enum><text>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.</text>
</paragraph><paragraph id="H9B36F7BDB3B5450E81AE125BBED4C465" indent="up1"><enum>(3)</enum><text>Paragraph (1) shall not apply to
Federal insurance programs that constitute entitlements.</text>
</paragraph></subsection><subsection id="HDDC07640F90B4CE60074686014CF2559"><enum>(d)</enum><header>Reestimates</header><text>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.</text>
</subsection><subsection id="HD260A0575EC742E78EFF7DDCAE11BCFB"><enum>(e)</enum><header>Administrative
Expenses</header><text>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.</text>
</subsection></section><section id="HE4D30BC799FF4144B2CE97670981E32"><enum>603.</enum><header>Timetable for
implementation of accrual budgeting for Federal insurance programs</header>
<subsection id="H2B1717E2D26D4E5491D2C5D8F9EA2390"><enum>(a)</enum><header>Agency
Requirements</header><text>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 2010. Agencies will likewise provide OMB with annual estimates of
modifications, if any, and reestimates of program costs.</text>
</subsection><subsection id="HBA9C29C0D29B4791BAA0CB747D12332B"><enum>(b)</enum><header>Disclosure</header><text>When
the President submits a budget of the Government pursuant to section 1105(a) of
title 31, United States Code, for fiscal year 2010, 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.</text>
</subsection><subsection id="HEAA2E4DB5B2A40F88409185DB863A729"><enum>(c)</enum><header>Revision</header><paragraph commented="no" display-inline="yes-display-inline" id="H16AA872E8D18443A82929F1BAEBCEEA4"><enum>(1)</enum><text>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.</text>
</paragraph><paragraph id="H6442E8316D3148A4B2EF261026B8EC69" indent="up1"><enum>(2)</enum><text>When the President submits a budget
of the Government pursuant to <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code,
for fiscal year 2011, 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.</text>
</paragraph></subsection><subsection id="H2B5143C0782B4351A328F0A913B0FEE"><enum>(d)</enum><header>Display</header>
<paragraph id="HD1EAD1043FB5411787F87DC2F400D400"><enum>(1)</enum><header>In
general</header><text>For fiscal years 2011, 2012, and 2013 the budget
submissions of the President pursuant to <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> 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.</text>
</paragraph><paragraph id="H893899BB9FDB4702BE928E4920BCC839"><enum>(2)</enum><header>OMB</header><text>The
display in the budget submissions of the President for fiscal years 2011, 2012,
and 2013 shall include—</text>
<subparagraph id="H32064BC47EBC425D9221246C2FB9783E"><enum>(A)</enum><text>a presentation for
each Federal insurance program in budget-account level detail of estimates of
risk-assumed cost;</text>
</subparagraph><subparagraph id="H9D60EC5F340B4E25915017BB22A9FB85"><enum>(B)</enum><text>a summary table of
the risk-assumed costs of Federal insurance programs; and</text>
</subparagraph><subparagraph id="H6097337EFD2C4A558FEEA4CDB1D070A2"><enum>(C)</enum><text>an alternate
summary table of budget functions and aggregates using risk-assumed rather than
cash-based cost estimates for Federal insurance programs.</text>
</subparagraph></paragraph><paragraph id="HDE8734223EBB4E08B27C7E3D9676FA1"><enum>(3)</enum><header>CBO</header><text>In
the second session of the 110th Congress and the 111th 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.</text>
</paragraph></subsection><subsection id="H2BC3B02FBF3A44E39EC66BDE00E22567"><enum>(e)</enum><header>OMB, CBO, and
GAO Evaluations</header><paragraph commented="no" display-inline="yes-display-inline" id="HB1651A00B8124093BA648522232ED868"><enum>(1)</enum><text>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 2012, 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.</text>
</paragraph><paragraph id="HBC929580ADDF4277944969F1B095DCB" indent="up1"><enum>(2)</enum><text>Each report made pursuant to
paragraph (1) shall address the following:</text>
<subparagraph id="HB366923122B54EDE8C3B3F905B16146D"><enum>(A)</enum><text>The adequacy of risk-assumed
estimation models used and alternative modeling methods.</text>
</subparagraph><subparagraph id="H366915827B4F40A4B9C1A7D5FEF0287"><enum>(B)</enum><text>The availability and reliability of
data or information necessary to carry out this title.</text>
</subparagraph><subparagraph id="H1A40456791CC4B2CB201138D6297A93"><enum>(C)</enum><text>The appropriateness of the explicit or
implicit discount rate used in the various risk-assumed estimation
models.</text>
</subparagraph><subparagraph id="HAB3A9BAD0FE541969EFABF8492EE6B00"><enum>(D)</enum><text>The advisability of specifying a
statutory discount rate (such as the Treasury rate) for use in risk-assumed
estimation models.</text>
</subparagraph><subparagraph id="H55C7D311F9034F298BF56F0497FB4328"><enum>(E)</enum><text>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.</text>
</subparagraph><subparagraph id="H26CB6D044DB2436E844D9B94C206949D"><enum>(F)</enum><text>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.</text>
</subparagraph><subparagraph id="HFA03AE9785B44101B95E7DB9A8BFDA1"><enum>(G)</enum><text>Whether Federal budgeting is improved
by the inclusion of risk-assumed cost estimates for Federal insurance
programs.</text>
</subparagraph><subparagraph id="HF0442197F80E4B6692C02C4D74FEA2C6"><enum>(H)</enum><text>The advisability of including each of
the programs currently estimated on a risk-assumed cost basis in the Federal
budget on that basis.</text>
</subparagraph></paragraph></subsection></section><section id="HE6CE23CD476F448290381BCE181CC64F"><enum>604.</enum><header>Definitions</header><text display-inline="no-display-inline">For purposes of this title:</text>
<paragraph id="H9E179DF873004091AC6339C2044601B"><enum>(1)</enum><text>The term
<term>Federal insurance program</term> means a program that makes insurance
commitments and includes the list of such programs included in the joint
explanatory statement of managers accompanying the conference report on the
Comprehensive Budget Process Reform Act of 1999.</text>
</paragraph><paragraph id="H27A2E830734D4598A6B4D4F2F2C66C08"><enum>(2)</enum><text>The term
<term>insurance commitment</term> means an agreement in advance by a Federal
agency to indemnify a non-Federal 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.</text>
</paragraph><paragraph id="HFADB1A833AE643B9AE7BB68BDC4BD5AC"><enum>(3)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HAE9013A35DFD45FE888EEACA6EAB47E1"><enum>(A)</enum><text>The term
<term>risk-assumed cost</term> means the net present value of the estimated
cash flows to and from the Government resulting from an insurance commitment or
modification thereof.</text>
</subparagraph><subparagraph id="H75377179937E441DB70702214F45FEB3" indent="up1"><enum>(B)</enum><text>The cash flows associated with an
insurance commitment include—</text>
<clause id="HFCFB6C08259A4A95AE8B5B13B7CE85B"><enum>(i)</enum><text>expected claims payments inherent
in the Government’s commitment;</text>
</clause><clause id="HA0AE40D77FEB4D13ABEB39D9738B00DD"><enum>(ii)</enum><text>net premiums (expected premium
collections received from or on behalf of the insured less expected
administrative expenses);</text>
</clause><clause id="H74FBB5255D4A443CAFE6AE41DC17B38"><enum>(iii)</enum><text>expected recoveries; and</text>
</clause><clause id="HD1FCA0A598364D7595D7636700267281"><enum>(iv)</enum><text>expected changes in claims,
premiums, or recoveries resulting from the exercise by the insured of any
option included in the insurance commitment.</text>
</clause></subparagraph><subparagraph id="H2152488ADF664DECAF78241471E0D700" indent="up1"><enum>(C)</enum><text>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.</text>
</subparagraph><subparagraph id="HC361D33C36D940F0ACA3A6AED009BF" indent="up1"><enum>(D)</enum><text>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 <external-xref legal-doc="usc" parsable-cite="usc/31/1105">section 1105(a)</external-xref> of title 31, United States Code.</text>
</subparagraph><subparagraph id="H45A34190A50B46F4809B7184006B2442" indent="up1"><enum>(E)</enum><text>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.</text>
</subparagraph></paragraph><paragraph id="H43190FC30B854D9B88D9089477182B10"><enum>(4)</enum><text>The term
<term>program account</term> 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.</text>
</paragraph><paragraph id="H254C1DFCA3D448C997FE67D4D69971D1"><enum>(5)</enum><text>The term
<term>financing account</term> 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.</text>
</paragraph><paragraph id="H6947209E32634041A65BE1B7B1563C58"><enum>(6)</enum><text>The term
<term>modification</term> 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.</text>
</paragraph><paragraph id="H8B6378EAC1844A0298B13A2EFD6C153"><enum>(7)</enum><text>The term
<term>model</term> 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.</text>
</paragraph><paragraph id="HD4B2B6AACDF14866805D866351A86DF7"><enum>(8)</enum><text>The term
<term>current</term> has the same meaning as in section 250(c)(9) of the
Balanced Budget and Emergency Deficit Control Act of 1985.</text>
</paragraph><paragraph id="H780073838F184F179BAF4F788941DE37"><enum>(9)</enum><text>The term
<term>OMB</term> means the Director of the Office of Management and
Budget.</text>
</paragraph><paragraph id="H03921166D9774156A35C78BF1EAA82D0"><enum>(10)</enum><text>The term
<term>CBO</term> means the Director of the Congressional Budget Office.</text>
</paragraph><paragraph id="HF8EA5B4E7E374847BF30004422ACB8F0"><enum>(11)</enum><text>The term
<term>GAO</term> means the Comptroller General of the United States.</text>
</paragraph></section><section id="H24EF2115DA034CA296F7F3E205AB5922"><enum>605.</enum><header>Authorizations
to enter into contracts; actuarial cost Account</header>
<subsection id="HBAF7CD08A3004A05BFB2D1636DC4A46D"><enum>(a)</enum><header>Authorization of
Appropriations</header><text>There are authorized to be appropriated $600,000
for each of fiscal years 2008 through 2013 to the Director of the Office of
Management and Budget and each agency responsible for administering a Federal
program to carry out this title.</text>
</subsection><subsection id="HA0D440395C224D4DBDA048E46543F535"><enum>(b)</enum><header>Treasury
Transactions With the Financing Accounts</header><text>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 <external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/31/15">chapter 15</external-xref> 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.</text>
</subsection><subsection id="H583011AB02764026B283572E33FE7FA3"><enum>(c)</enum><header>Appropriation of
Amount Necessary To Cover Risk-Assumed Cost of Insurance Commitments at
Transition Date</header><paragraph commented="no" display-inline="yes-display-inline" id="H5B2DF03CB5D747A78D83058DD9CC73F6"><enum>(1)</enum><text>A financing account is
established on September 30, 2012, for each Federal insurance program.</text>
</paragraph><paragraph id="H70016BF2601C454993F5294CD1D8EA2" indent="up1"><enum>(2)</enum><text>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,
2012.</text>
</paragraph><paragraph id="HA500415F99E04C31B2A4827400CAB5D6" indent="up1"><enum>(3)</enum><text>These financing accounts shall be
used in implementing the budget accounting required by this title.</text>
</paragraph></subsection></section><section id="HBA91BD71B5DD4729B0B2DB4D5297A166"><enum>606.</enum><header>Effective
date</header>
<subsection id="H8850AC3C37944D20B3E5A363CCB41CF"><enum>(a)</enum><header>In
General</header><text>This title shall take effect immediately and shall expire
on September 30, 2014.</text>
</subsection><subsection id="HFFD932A5C28845018593DC98B8E9ADC4"><enum>(b)</enum><header>Special
Rule</header><text>If this title is not reauthorized by September 30, 2014,
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.</text>
</subsection></section>.
(b)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.
.
<enum>V</enum><header>MAINTAINING A
COMMITMENT TO THE FAMILY BUDGET</header>
<subtitle id="HD62300C3D52D4C1DA20659A9ADD34819"><enum>A</enum><header>Further
Enforcement Amendments</header>
<section id="H41D81800D11B4382BF64F5A7C41A02C"><enum>501.</enum><header>Super-majority
points of order in the House of Representatives and the Senate</header>
<subsection id="H626B7F5415214F45B09D2993EFE0FD64"><enum>(a)</enum><text>Section 904 of the
Congressional Budget Act of 1974 is amended as follows:</text>
<paragraph id="H1BFDF6BF7A3444DD8D1166BD00E5CCE"><enum>(1)</enum><text>In
subsection (c)(1), insert <quote>312(g), (h), (i), and (j),</quote> before
<quote>313,</quote>, and insert <quote>316, 318, 319(a)</quote> before
<quote>904(c),</quote>.</text>
</paragraph><paragraph id="H1482EB62E25A481A88A5AEC91893BDB5"><enum>(2)</enum><text>In subsection (c)
strike <quote>three-fifths</quote> each place it appears and insert
<quote>two-thirds</quote>.</text>
</paragraph><paragraph id="H98B415363F1944D9B47CE1C7814CE322"><enum>(3)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="HD5D57E28A0BD47949DED80382FA04E6B"><enum>(A)</enum><text>In subsection (d)(2),
insert <quote>312(g), (h), (i), and (j),</quote> before <quote>313,</quote>,
and insert <quote>316, 318, 319(a)</quote> before
<quote>904(c),</quote>.</text>
</subparagraph><subparagraph id="HCC21B17B3AB3408394CB6B684DCEACE" indent="up1"><enum>(B)</enum><text>In subsection (d), strike
<quote>three-fifths</quote> each place it appears and insert
<quote>two-thirds</quote>.</text>
</subparagraph></paragraph><paragraph id="HB8DD6762A3414A61B9F7D29FB54A23F"><enum>(4)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="H0F6F18348ED74D289300FFEA937283B4"><enum>(A)</enum><text>In subsections (c)(2)
and (d)(3), strike <quote>311(a),</quote>.</text>
</subparagraph><subparagraph id="HE05F8584984E41239350CF73C7E76711" indent="up1"><enum>(B)</enum><text>In subsections (c)(1) and (d)(2)
insert <quote>311(a),</quote> after <quote>310(d)(2),</quote>.</text>
</subparagraph></paragraph><paragraph id="H0A5659426CF94A6BAFFBC0B08CC7B9F7"><enum>(5)</enum><text>In subsections
(c)(1), (c)(2), (d)(2), and (d)(3) by inserting <quote>or the House of
Representatives</quote> after <quote>Senate</quote> each place it
appears.</text>
</paragraph><paragraph id="H4E1F19869DE84B5396B87789DA844900"><enum>(6)</enum><text>Strike subsection
(e).</text>
</paragraph></subsection></section><section id="H9EA24B83ECAD438291FB6F86C98EDD80"><enum>502.</enum><header>Budget
resolution enforcement point of order</header>
<subsection id="HE76BCA6F2E1440A0BA205CBF1630B7D7"><enum>(a)</enum><header>Entitlement
Point of Order</header><text>Section 312 of the Congressional Budget Act of
1974 (as amended by section 221(d)) is further amended by adding at the end the
following new subsection:</text>
<quoted-block id="H068135A51BBB48439042FCEEDB555EB1" style="OLC">
<subsection id="H15ACCB86BA8342E1B9A3A9BC847CDEDC"><enum>(j)</enum><header>Budget
Resolution Enforcement Point of Order</header><text>It shall not be in order in
the House of Representatives or the Senate to consider any joint resolution on
the budget for a fiscal year, or amendment thereto or conference report
thereon, that—</text>
<paragraph id="H856690FA526D43C8BCB8CE290212ABF1"><enum>(1)</enum><text>is not consistent
with the discretionary spending limits set forth in section 251(b) of the
Balanced Budget and Emergency Deficit Control Act of 1985; or</text>
</paragraph><paragraph id="H1D553664A60D441C9632E6F3CDEE08DF"><enum>(2)</enum><text>provides for an
increase in the aggregate level of direct spending for the fiscal year of the
resolution or any ensuing fiscal year included in such
resolution.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="HED5A4D5C0FAB4BABB5DF0620422DCE68"><enum>503.</enum><header>Point of order
waiver protection</header><text display-inline="no-display-inline">Rule XIII of
the Rules of the House of Representatives (as amended by section 313) is
further amended by adding at the end the following new clause:</text>
<quoted-block id="H8B3ED07A6A0244EEAFDB91C01460191C" style="OLC">
<subsection id="HD90B56C8663C496F9177E116FCF53B66"><enum>10.
(a)</enum><text>It shall not be in order to consider a rule or order that would
waive the provisions of any section of the Congressional Budget Act of 1974
referred to in section 904(c)(1) of such Act or of section 302 of the Family
Budget Protection Act of 2007.</text>
</subsection><subsection id="HFEEDE3BDA54448D6ABB466352C5695CD"><enum>(b)</enum><text>As disposition of
a point of order under paragraph (a), the Chair shall put the question of
consideration with respect to the proposition that is the subject of the point
of order. A question of consideration under this clause shall be debatable for
10 minutes by the Member initiating the point of order and for 10 minutes by an
opponent of the point of order, but shall otherwise be decided without
intervening motion except one that the House adjourn or that the Committee of
the Whole rise, as the case may be.</text>
</subsection><subsection id="HFC2D809658834FAE8318DF01240662CA"><enum>(c)</enum><text>The disposition of
the question of consideration under this clause with respect to a bill or joint
resolution shall be considered also to determine the question of consideration
under this clause with respect to an amendment made in order as original
text.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><subtitle id="HAB1A2C0751DC425F9535050000822B56"><enum>B</enum><header>The Byrd
Rule</header>
<section id="H983C813FE42E40F90093549753005FB3"><enum>511.</enum><header>Limitation on
Byrd Rule</header>
<subsection id="H6CA2DD218F1E491DB885F5C488553438"><enum>(a)</enum><header>Protection of
Conference Reports</header><text>Section 313 of the Congressional Budget Act of
1974 is amended—</text>
<paragraph id="H1D5393A2B2FF4B0BA1C4CCA60D133D0"><enum>(1)</enum><text>in
subsection (b)(1), by striking subparagraph (E) through the semicolon at the
end thereof and by redesignating subparagraph (F) as subparagraph (E);</text>
</paragraph><paragraph id="H5E9233E817D140ED846FEF40103100FC"><enum>(2)</enum><text>in subsection (c),
by striking <quote>and again upon the submission of a conference report on such
a reconciliation bill or resolution,</quote>;</text>
</paragraph><paragraph id="HBA47ADB88D4E466A9E0300AC55E991E"><enum>(3)</enum><text>by
striking subsection (d);</text>
</paragraph><paragraph id="HCD69899FEC8C4FFC8E8464E8CB3D1EC7"><enum>(4)</enum><text>by redesignating
subsection (e) as subsection (d); and</text>
</paragraph><paragraph id="H54D390D54856496F9F3978D6086F2BF4"><enum>(5)</enum><text>in subsection (e),
as redesignated—</text>
<subparagraph id="HE15B8E1198634D140040A737C08C63F3"><enum>(A)</enum><text>by striking
<quote>, motion, or conference report</quote> the first place it appears and
inserting <quote>, or motion</quote>; and</text>
</subparagraph><subparagraph id="H6155D79390C046B7836B1250A09E11D3"><enum>(B)</enum><text>by striking
<quote>, motion, or conference report</quote> the second and third places it
appears and inserting <quote>or motion</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H6D7C0514740A42F8BE89298331C8F1FD"><enum>(b)</enum><header>Conforming
Amendment</header><text>The first sentence of section 312(e) of the
Congressional Budget Act of 1974 is amended by inserting <quote>, except for
section 313,</quote> after <quote>Act</quote>.</text>
</subsection></section></subtitle><subtitle id="H04FECED43A84488B8597833905CC48F"><enum>C</enum><header>Treatment of
Extraneous Appropriations in Omnibus Appropriation Measures</header>
<section id="H6DFCFD08A5F74E810050C7E8D70084A2"><enum>521.</enum><header>Treatment of
extraneous appropriations</header>
<subsection id="H667034B960454B3B8957FDE394ECE8D0"><enum>(a)</enum><header>In
General</header><text>Title III of the Congressional Budget Act of 1974 (as
amended by section 127(a)) is further amended by adding at the end the
following new section:</text>
<quoted-block id="HEEDC0FA762A4411EBDB5D4032E541AE" style="traditional">
<section id="HC50A4B8C42C74E02BFFA5BDA62637C2"><enum>319.</enum><header>Treatment of extraneous appropriations in omnibus
appropriation measures</header><subsection commented="no" display-inline="yes-display-inline" id="H391C58AB9896474EB9F6354B8CEB299B"><enum>(a)</enum><header>Point of
Order</header><text>It shall not be in order in the House of Representatives or
the Senate to consider an omnibus appropriation measure, or any amendment
thereto or conference report thereon, that appropriates funds for any program,
project, or activity that is not within the subject-matter jurisdiction of any
subcommittee of the Committee on Appropriations of the House of Representatives
or Senate, as applicable, with jurisdiction over any regular appropriation bill
contained in such measure.</text>
</subsection><subsection id="H030DFC61D4B74236AF69F338FC6E9354"><enum>(b)</enum><header>Definitions</header><text>As
used in this section:</text>
<paragraph id="H2BF963673CFB41178D68C25EF70602D"><enum>(1)</enum><text>The term
<term>omnibus appropriation measure</term> means any bill or joint resolution
making continuing appropriations for a fiscal year and that is comprised of
more than one regular appropriation bills.</text>
</paragraph><paragraph id="H36CF2487872C44A39FD4F7F593CEB200"><enum>(2)</enum><text>The term
<term>regular appropriation bill</term> means any annual appropriation bill
making appropriations, otherwise making funds available, or granting authority,
for any of the following categories of projects and activities:</text>
<subparagraph id="H080352835EF34A22B6E62BCD7001AD23"><enum>(A)</enum><text>Agriculture, rural
development, Food and Drug Administration, and related agencies
programs.</text>
</subparagraph><subparagraph id="HB5398CD4D2694B60B15F4029EB197D43"><enum>(B)</enum><text>The Department of
Defense.</text>
</subparagraph><subparagraph id="H9D98211154E141509438D7866400E240"><enum>(C)</enum><text>Energy and water
development, and related agencies.</text>
</subparagraph><subparagraph id="H0BB01BF1D8984DB998FF0047A76376F4"><enum>(D)</enum><text>State, foreign
operations, and related programs.</text>
</subparagraph><subparagraph id="H502192F855104A6FB8A9AAF4C1B2BD00"><enum>(E)</enum><text>The Department of
Homeland Security.</text>
</subparagraph><subparagraph id="H9504E311AF4A4E018F3DA0FFAAAF7CFC"><enum>(F)</enum><text>The Department of
the Interior, Environmental Protection Agency, and related agencies.</text>
</subparagraph><subparagraph id="H44AFE336CAF04CE8971E3C73062323EC"><enum>(G)</enum><text>The Departments of
Labor, Health and Human Services, and Education, and related agencies.</text>
</subparagraph><subparagraph id="HBB6E9246D21940B4A6DCB93CDCFA093E"><enum>(H)</enum><text>Military
construction, veterans affairs, and related agencies.</text>
</subparagraph><subparagraph id="HE570AB4EEEFA4124A155658FBA2DABC"><enum>(I)</enum><text>Science, the
Departments of State, Justice, and Commerce, and related agencies.</text>
</subparagraph><subparagraph id="H2A50F9F5A8BB453DA7D2D5D81B09D6D8"><enum>(J)</enum><text>The Departments of
Transportation, Housing and Urban Development, and related agencies.</text>
</subparagraph><subparagraph id="H0FAB1FEE6F994AF290CEA6F2C059ADBF"><enum>(K)</enum><text>The Legislative
Branch.</text>
</subparagraph><subparagraph id="HAAAA88AAA845452EA9352C4B8E60E23D"><enum>(L)</enum><text>Financial services
and general
government.</text>
</subparagraph></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HD889CB6C782C4D8AA261A8E6004B30CB"><enum>(b)</enum><header>Conforming
Amendment</header><text>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 318 the following new item:</text>
<quoted-block id="H04D6D7CFC87F4D9E9C768E7172D796F7" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 319. Treatment of extraneous
appropriations in omnibus appropriation
measures.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle>