1.Short
title; table of contents
(a)This Act may be cited
as the Securing America's Future
Economy Budget Process Reform Act
or SAFE Budget Process Reform
Act
.
(b)The table of contents for this Act is as follows:
Sec. 1. Short title; table of
contents.
TITLE I—Enforcement of budgetary decisions
Sec. 101. Extension of the discretionary spending
caps.
Sec. 102. Extension of Pay-as-You-Go requirement and other
rules.
Sec. 103. Point of order to require compliance with the caps
and Pay-as-You-Go.
Sec. 104. Disclosure of interest costs.
Sec. 105. Executive branch report on fiscal
exposures.
Sec. 106. Mandatory reconciliation.
Sec. 107. Limitation on long-term spending
proposals.
Sec. 108. Application of Budget Act to unreported
bills.
TITLE II—Reform of budgetary treatment of Federal insurance
programs
Sec. 201. Federal insurance programs.
TITLE III—Biennial budgeting and appropriations
Sec. 301. Revision of timetable.
Sec. 302. Amendments to the Congressional Budget and
Impoundment Control Act of 1974.
Sec. 303. Amendments to title
31, United States Code.
Sec. 304. Two-year appropriations; title and style of
appropriations Acts.
Sec. 305. Multiyear authorizations.
Sec. 306. Government plans on a biennial basis.
Sec. 307. Biennial appropriations bills.
Sec. 308. Report on two-year fiscal period.
Sec. 309. Effective date.
TITLE IV—Commission on Federal Budget Concepts
Sec. 401. Establishment of Commission on Federal Budget
Concepts.
Sec. 402. Powers and duties of Commission.
Sec. 403. Membership.
Sec. 404. Staff and support services.
Sec. 405. Report.
Sec. 406. Termination.
Sec. 407. Funding.
TITLE V—Reserve fund for emergencies
Sec. 501. Purpose.
Sec. 502. Repeal of adjustments for emergencies.
Sec. 503. OMB emergency criteria.
Sec. 504. Development of guidelines for application of
emergency definition.
Sec. 505. Reserve fund for emergencies in President's
budget.
Sec. 506. Adjustments and reserve fund for emergencies in
concurrent budget resolutions.
Sec. 507. Application of section 306 to emergencies in excess
of amounts in reserve fund.
Sec. 508. Up-to-date tabulations.
Sec. 509. Prohibition on amendments to emergency reserve
fund.
Sec. 510. Effective date.
<enum>I</enum><header>Enforcement of
budgetary decisions </header>
<section id="idB8BF50CA62D240979175234E58A52BB9"><enum>101.</enum><header>Extension of
the discretionary spending caps</header>
<subsection id="IDe34e541ffaf446989d90998a1223b833"><enum>(a)</enum><header>In
general</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 display-inline="no-display-inline" id="id02F3AFBA11CA4433B2344B9F1931385B" style="OLC">
<section id="IDa022455c61da4dcaaef8b62d6e48d1af"><enum>316.</enum><header>Enforcement of
discretionary spending limits</header>
<subsection id="ID5e7a343fe3194661a29d730911e48b72"><enum>(a)</enum><header>In the
house</header><text>Upon adoption by Congress of a concurrent resolution on the
budget under section 301 or 304 that sets forth (whether in the concurrent
resolution or in a joint explanatory statement accompanying the concurrent
resolution) an allocation of budget authority to the Committee on
Appropriations pursuant to section 302—</text>
<paragraph id="ID9b1e9dbf89294f9a834cbba996403586"><enum>(1)</enum><text>the Clerk of the
House shall prepare an engrossment of a joint resolution modifying the
discretionary spending limit of section 251(c) of the Balanced Budget and
Emergency Deficit Control Act of 1985 in the form prescribed in subsection
(c).</text>
</paragraph><paragraph id="ID07f35b9451cb4bfdb69961dde118364c"><enum>(2)</enum><text>Upon engrossment
of the joint resolution, the vote by which the concurrent resolution on the
budget was finally agreed to in the House shall also be considered as a vote on
passage of the joint resolution in the House, and the joint resolution shall be
considered as passed by the House and duly certified and examined. The
engrossed copy shall be signed by the Clerk of the House and transmitted to the
Senate for further legislative action.</text>
</paragraph></subsection><subsection id="IDe127d8267fbd4d009a35a8a9e31ab6d3"><enum>(b)</enum><header>In the
Senate</header><text>Upon receipt by the Clerk of the Senate of the joint
resolution described in subsection (a), the Senate shall be deemed to have
passed the joint resolution without amendment and the Clerk of the Senate shall
enroll the joint resolution for presentation to the President of the United
States.</text>
</subsection><subsection id="ID47f64480f5714d329a44868a0c6d4711"><enum>(c)</enum><header>Matter included
in joint resolution</header><text>The matter after the resolving clause in a
joint resolution described in subsection (a) shall be as follows:
<quote>Section 251(c) of the Balanced Budget and Emergency Deficit Control Act
of 1985 is amended by striking all after <quote>means</quote> and inserting
<quote>, with respect to the budget year, for the discretionary category,
<inline-comment>$___</inline-comment>, as adjusted in strict conformance with
subsection (b) of this section.</quote>”, with the blank being filled with a
dollar limitation equal to the allocation of budget authority to the Committee
on Appropriations made by the concurrent resolution on the budget in force
pursuant to section 302 of the Congressional Budget Act of
1974.</quote></text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID412ede980f8749d58e68965f4062d3e1"><enum>(b)</enum><header>Conforming
amendment</header><text display-inline="yes-display-inline">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 display-inline="no-display-inline" id="id2E49A5A34DE54C8EB42C3EA2250B51C4" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 316. Enforcement of
discretionary spending
limits.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID95ae3bc9688f46a5946e9f53a0eb716f"><enum>102.</enum><header>Extension of
Pay-as-You-Go requirement and other rules</header>
<subsection id="ID1f7e607bbb7b4b5194d7ddb444999905"><enum>(a)</enum><header>Extension of
pay-as-you-go requirement</header><text>Section 252 of the Balanced Budget and
Emergency Deficit Control Act of 1985 is amended by striking <quote>enacted
before October 1, 2002,</quote> both places it appears.</text>
</subsection><subsection id="ID83db123153a0421a8a30de3f9d2cc4b8"><enum>(b)</enum><header>Extension of
deficit control rules</header><text>Section 275 of the Balanced Budget and
Emergency Deficit Control Act of 1985 is amended by striking subsection (b) and
redesignating subsection (c) as subsection (b).</text>
</subsection><subsection id="ID9180070b551e464b9ba0a78bbbb597b1"><enum>(c)</enum><header>Modification of
baseline rules</header><text>Section 257(b)(2) of the Balanced Budget and
Emergency Deficit Control Act of 1985 is amended by striking subparagraph
(D).</text>
</subsection></section><section id="ID972D9AA5048246FE85587166CC1C2050"><enum>103.</enum><header>Point of order
to require compliance with the caps and Pay-as-You-Go</header><text display-inline="no-display-inline">Section 312(b) of the Congressional Budget
Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/643(b)">2
U.S.C. 643(b)</external-xref>) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="IDD73AC694B9AF456E9B0003C28184FDF2" style="OLC">
<subsection id="IDDD35CA843606481E9D25C276E697702E"><enum>(b)</enum><header>Discretionary
spending and Pay-as-You-Go point of order in the Senate</header>
<paragraph id="ID2437A8EE830042BF9D224B00719C5D39"><enum>(1)</enum><header>In
general</header><text>Except as otherwise provided in this subsection, it shall
not be in order in the Senate to consider any bill or resolution or any
separate provision of a bill or resolution (or amendment, motion, or conference
report on that bill or resolution) that would—</text>
<subparagraph id="ID68D21CB134954BF4857BF54C04EEB01B"><enum>(A)</enum><text>exceed any of the
discretionary spending limits in section 251(c) of the Balanced Budget and
Emergency Deficit Control Act of 1985; or</text>
</subparagraph><subparagraph id="IDEAB7094FA7CF43AFA60836FB371B24EB"><enum>(B)</enum><text>for direct
spending or revenue legislation, would cause or increase an on-budget deficit
for any one of the following three applicable time periods—</text>
<clause id="IDDB9CF9182EA341689E1FC498E3361B04"><enum>(i)</enum><text>the first year
covered by the most recently adopted concurrent resolution on the
budget;</text>
</clause><clause id="ID7334EB8F8160414DA1FC08540059D3B2"><enum>(ii)</enum><text>the period of
the first 5 fiscal years covered by the most recently adopted concurrent
resolution on the budget; or</text>
</clause><clause id="ID295B656B66784D4A8C3D06081EC5A2E0"><enum>(iii)</enum><text>the period of
the 5 fiscal years following the first five fiscal years covered in the most
recently adopted concurrent resolution on the budget.</text>
</clause></subparagraph></paragraph><paragraph id="ID1D2DD8637F084FFF9E4C98EDFAD02473"><enum>(2)</enum><header>Point of order
against a specific provision</header><text>If the Presiding Officer sustains a
point of order under paragraph (1) with respect to any separate provision of a
bill or resolution, that provision shall be stricken from the measure and may
not be offered as an amendment from the floor.</text>
</paragraph><paragraph id="IDB925CAD5F6C74FD5894F578070521672"><enum>(3)</enum><header>Form of the
point of order</header><text>A point of order under this section may be raised
by a Senator as provided in section 313(e) of the Congressional Budget Act of
1974.</text>
</paragraph><paragraph id="ID81B22D535FD947AF9F23B20333288726"><enum>(4)</enum><header>Conference
reports</header><text>If a point of order is sustained under this section
against a conference report the report shall be disposed of as provided in
section 313(d) of the Congressional Budget Act of 1974.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID7F7A1913C97246B5A700F584936B0046"><enum>(5)</enum><header>Exceptions</header><text>This
subsection shall not apply if a declaration of war by the Congress is in effect
or if a joint resolution pursuant to section 258 of the Balanced Budget and
Emergency Deficit Control Act of 1985 has been
enacted.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="IDB2DD7784E738449BA5C8BBE6D6D65833"><enum>104.</enum><header>Disclosure of
interest costs</header><text display-inline="no-display-inline">Section
308(a)(1) of the Congressional Budget Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/639(a)(1)">2 U.S.C.
639(a)(1)</external-xref>) is amended—</text>
<paragraph id="IDFB8DBE4833014DD8886FB7F1C90020D1"><enum>(1)</enum><text>in subparagraph
(B), by striking <quote>and</quote> after the semicolon;</text>
</paragraph><paragraph id="ID9C9AE78B8E2145518CB823BD8965B027"><enum>(2)</enum><text>in subparagraph
(C), by striking the period and inserting <quote>; and</quote>; and</text>
</paragraph><paragraph id="ID9745DE9D601242AE9F9C145984A5A233"><enum>(3)</enum><text>by adding at the
end the following:</text>
<quoted-block id="ID574133DC6A6F4C04A8EA167E5006C1F2">
<subparagraph id="IDD02704FF49F548A2A135BC5520005134"><enum>(D)</enum><text>in the case of
direct spending or revenue legislation, containing a projection by the
Congressional Budget Office of the cost of the debt servicing that would be
caused by such measure for such fiscal year (or fiscal years) and each of the 4
ensuing fiscal
years.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></section><section id="ID89FB61BC72C84CF2864D1C85566B6D43"><enum>105.</enum><header>Executive
branch report on fiscal exposures</header>
<subsection id="IDC759F8B536EA485EA1EF287F6B164FDE"><enum>(a)</enum><header>In
general</header><text>The President shall submit to the Committees on
Appropriations, Budget, Finance, and Homeland Security and Governmental Affairs
of the Senate, and the Committees on Appropriations, Budget, Government Reform,
and Ways and Means of the House of Representatives, not later than 2 weeks
before the first Monday in February of each year, a report (in this section
referred to as the <quote>report</quote>) on the fiscal exposures of the United
States Federal Government and their implications for long-term financial
health. The report shall also be included as part of the Consolidated Financial
Statement of the United States Government.</text>
</subsection><subsection id="ID41BFEF68E2A24D8486E7AE6E6BC31658"><enum>(b)</enum><header>Contents</header>
<paragraph id="ID022EEF2888A24ACC91E3BCC307A57439"><enum>(1)</enum><header>In
general</header><text>The report shall include fiscal exposures for the
following categories of fiscal exposures:</text>
<subparagraph id="ID0EE7F88CC2124720ABDE2FBB5C0018B7"><enum>(A)</enum><header>Debt</header><text>Debt,
including—</text>
<clause id="IDC6BFA9FD713D466F803961B0270168D1"><enum>(i)</enum><text>total gross
debt;</text>
</clause><clause id="ID879ECCE3E9E04E1C8BD3E025BB71E88F"><enum>(ii)</enum><text>publicly held
debt; and</text>
</clause><clause id="IDEEF839C48B874CBEA4BC806F275589B2"><enum>(iii)</enum><text>debt held by
Government accounts.</text>
</clause></subparagraph><subparagraph id="ID962CF11EB44C41A99BF499690496519E"><enum>(B)</enum><header>Other financial
liabilities</header><text>Other financial liabilities, including—</text>
<clause id="IDB504D5CD9DB3459584C4D36B49D79B3B"><enum>(i)</enum><text>civilian and
military pensions;</text>
</clause><clause id="IDE298884D26134EFEBBEE289042A97D9F"><enum>(ii)</enum><text>post-retirement
health benefits;</text>
</clause><clause id="IDFCAF4D9BB37C40A5AA2657EA515B189C"><enum>(iii)</enum><text>environmental
liabilities;</text>
</clause><clause id="ID36D31C5AC69A4F1EA646DB7075381F01"><enum>(iv)</enum><text>accounts
payable;</text>
</clause><clause id="ID3F83536BAA5A439BB378C552071256F0"><enum>(v)</enum><text>loan guarantees;
and</text>
</clause><clause id="ID4A4655EA40044F47B1787795B32886AC"><enum>(vi)</enum><text>Social Security
benefits due and payable.</text>
</clause></subparagraph><subparagraph id="ID5EDCF69EC9F6451DA81EBCA8A0973F12"><enum>(C)</enum><header>Financial
commitments</header><text>Financial commitments, including—</text>
<clause id="IDD056E8ECC7844F87BF8B3E0096B695C1"><enum>(i)</enum><text>undelivered
orders; and</text>
</clause><clause id="IDE7254C6578A94970A97200ADF5FA1184"><enum>(ii)</enum><text>long-term
operating leases.</text>
</clause></subparagraph><subparagraph id="IDBB52C50AAF4344F5861644E50307725E"><enum>(D)</enum><header>Financial
contingencies and other exposure</header><text>Financial contingencies and
other exposures, including—</text>
<clause id="ID28406183F5D8482DB561B4E6D7A112E9"><enum>(i)</enum><text>unadjudicated
claims;</text>
</clause><clause id="ID2DB0F1FE7B23470192BB1C3996293DC7"><enum>(ii)</enum><text>Federal
insurance programs (including both the financial contingency for and risk
assumed by such programs);</text>
</clause><clause id="IDE63504002DAD44FF97D0D850C69B1C47"><enum>(iii)</enum><text>net future
benefits under Social Security, Medicare Part A, Medicare Part B, and other
social insurance programs;</text>
</clause><clause id="IDC5B0FE1BB9ED41A084C823F7BB0014D1"><enum>(iv)</enum><text>life cycle
costs, including deferred and future maintenance and operating costs associated
with operating leases and the maintenance of capital assets;</text>
</clause><clause id="ID97A90B79440A4C9FB54E974BD337AF6C"><enum>(v)</enum><text>unfunded portions
of incrementally funded capital projects;</text>
</clause><clause id="ID9B83621B03D94A84A88520B2F100B361"><enum>(vi)</enum><text>disaster relief;
and</text>
</clause><clause id="IDFAD8BA7E3F4B45D2A202BE7DD0569CB5"><enum>(vii)</enum><text>others as
deemed appropriate.</text>
</clause></subparagraph></paragraph><paragraph id="IDCC59928B9D774F69A0E799879DA75222"><enum>(2)</enum><header>Estimates</header><text>Where
available, estimates for each exposure should be included. Where reasonable
estimates are not available, a range of estimates may be appropriate.</text>
</paragraph><paragraph id="ID887EB478E8914FD1BEC5E863598C98CA"><enum>(3)</enum><header>Other
exposures</header><text>Exposures that are analogous to those specified in
paragraph (1) shall also be included in the exposure categories identified in
such paragraph.</text>
</paragraph></subsection><subsection id="IDC0CED340905940FDABF67800FD5F9F7D"><enum>(c)</enum><header>Format</header><text>The
report shall include a 1-page list of all exposures. Additional disclosures
shall include descriptions of exposures, the estimation methodologies and
significant assumptions used, and an analysis of the implications of the
exposures for the long-term financial outlook. Additional analysis deemed
informative may be provided on subsequent pages.</text>
</subsection><subsection id="IDB3198AEE75084B4700F60954985CF807"><enum>(d)</enum><header>Review with
Congress</header><text>Following the submission of the report on fiscal
exposures to the Senate and the House of Representatives, the Comptroller
General shall review and report to the committee reviewing the report on the
report, discussing—</text>
<paragraph id="ID201210D1DB774628B647902E88C7B300"><enum>(1)</enum><text>the extent to
which all required disclosures under this section have been made;</text>
</paragraph><paragraph id="ID3B9A3CF87C944D889299C4BC8BF5A2DE"><enum>(2)</enum><text>the quality of
the cost estimates;</text>
</paragraph><paragraph id="IDD089F22207C54C4B0085BEBA69B794CF"><enum>(3)</enum><text>the scope of the
information;</text>
</paragraph><paragraph id="ID6731CE7E869D4027AFCCCDFC2F420099"><enum>(4)</enum><text>the long-range
financial outlook; and</text>
</paragraph><paragraph id="ID327FD02ACE2347EF85A5FEBC9DF32546"><enum>(5)</enum><text>any other matters
deemed appropriate.</text>
</paragraph></subsection><subsection id="ID6ED21767B75C4584A37C51F8A95BA967"><enum>(e)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="ID0627EB1937044505BC59561248EE1266"><enum>(1)</enum><header>Liabilities</header><text>The
terms <term>liabilities</term>, <term>commitments</term>, and
<term>contingencies</term> shall be defined in accordance with generally
accepted accounting principles and standards of the United States Federal
Government.</text>
</paragraph><paragraph id="ID5D9664672475473E94FC51FA63BBBC27"><enum>(2)</enum><header>Net future
benefit payments</header><text>The term <term>net future benefit
payments</term> means the net present value of negative cashflow. Negative
cashflow is to be calculated as the current amount of funds needed to cover
projected shortfalls, excluding trust fund balances, over a 75-year period.
This estimate should include births during the period and individuals below age
15 as of January 1 of the valuation year.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id983CC509C6D94F8D825E30D2916204F8"><enum>(3)</enum><header>Risk
assumed</header><text>The term <term>risk assumed</term> means the full portion
of the risk premium based on the expected cost of losses inherent in the
Government’s commitment that is not charged to the insured. For example, the
present value of unpaid expected losses net of associated premiums, based on
the risk assumed as a result of insurance coverage.</text>
</paragraph></subsection></section><section id="IDa1a483d9e3d048fdbca7bc280da27111"><enum>106.</enum><header>Mandatory
reconciliation</header>
<subsection id="ID668a89a70da34c4eb59d1733c511d4e6"><enum>(a)</enum><text>Section 301(a) of
the Congressional Budget Act of 1974 is amended by:</text>
<paragraph id="IDa52f1f45f0b44a94a71e525603bf93e4"><enum>(1)</enum><text>striking
<quote>and</quote> at the end of paragraph (6);</text>
</paragraph><paragraph id="ID814c1f27f0e64625ae3e1c3ad6d0ce5f"><enum>(2)</enum><text>striking the
period at the end of paragraph (7) and inserting <quote>; and</quote> in its
place; and</text>
</paragraph><paragraph id="IDa501ec97db754627ab4306edfd54291f"><enum>(3)</enum><text>adding at the end
the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id1475FED4A10E440B97915A4BCCCB78C5" style="OLC">
<paragraph id="ID94b092c73c534c7c8233d3415f2c7cae"><enum>(8)</enum><text>reconciliation
directives made pursuant to section
310.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID1f64d5545b4e43adad29419021ef3c04"><enum>(b)</enum><header>Reconciliation
limited to deficit reduction</header>
<paragraph id="IDa0ba8c2e5fc945a598712677df1897d9"><enum>(1)</enum><header>In the
Senate</header><text>It shall not be in order in the Senate to consider a
concurrent resolution on the budget, or an amendment thereto, or a conference
report thereon that contains 1 or more reconciliation directives pursuant to
section 310 of the Congressional Budget Act of 1974 that specify changes in law
causing a deficit or increasing the deficit for either the period comprising
the first 5 fiscal years following the current fiscal year or the period
comprising the second 5 years following the current fiscal year. In determining
whether reconciliation directives specify changes in law causing a deficit or
increasing the deficit, the sum of the directives for each reconciliation bill
(under section 310 of the Congressional Budget Act of 1974) envisioned by that
measure shall be evaluated.</text>
</paragraph><paragraph id="ID8bb3ad5f83eb4b12b6577632bd74a58c"><enum>(2)</enum><header>Effective
date</header><text>Paragraph (1) shall apply only to concurrent resolutions on
the budget for fiscal years 2008 and 2009, amendments thereto, and conference
reports thereon.</text>
</paragraph></subsection></section><section id="ID060663e7eb394a12ae6fb62805e2a84e"><enum>107.</enum><header>Limitation on
long-term spending proposals</header><text display-inline="no-display-inline">The Congressional Budget Act of 1974 is
amended by adding the following new section—</text>
<quoted-block display-inline="no-display-inline" id="idF4BF4E18EA8A45728C133E21700904D8" style="OLC">
<section id="ID333f4198236948589cf6e2e6d55641e9"><enum>407.</enum><header>Limitation on
long-term spending proposals</header>
<subsection id="IDa9c7c426330c416286bf3d87a8602e90"><enum>(a)</enum><header>Congressional
budget office analysis of proposals</header><text>The Director of the
Congressional Budget Office shall, to the extent practicable, prepare for each
bill or joint resolution reported from committee (except measures within the
jurisdiction of the Committee on Appropriations) or placed on the Senate
Legislative Calendar, or amendments thereto or conference reports thereon, an
estimate of whether the measure would cause, relative to current law, a net
increase in direct spending in excess of $5,000,000,000 in any of the five
10-year periods beginning with the budget year.</text>
</subsection><subsection id="ID80cbf7904f6647d8af2cbd88af7065b1"><enum>(b)</enum><header>Point of
order</header><text>In the Senate, it shall not be in order to consider any
bill, joint resolution, amendment, motion, or conference report that would
cause a net increase in direct spending in excess of $5,000,000,000 in any of
the five 10-year periods described in subsection (a).</text>
</subsection><subsection id="ID824cce614d1d4d8d9e310e8501535430"><enum>(c)</enum><header>Waiver</header><text>This
section may be waived or suspended only by the affirmative vote of three-fifths
of the Members, duly chosen and sworn.</text>
</subsection><subsection id="ID3278c23015b340b682f7e46e0e9f8299"><enum>(d)</enum><header>Appeals</header><text>An
affirmative vote of three-fifths of the Members, duly chosen and sworn, shall
be required to sustain an appeal of the ruling of the Chair on a point of order
raised under this section.</text>
</subsection><subsection id="ID322a2251efcc44ea804689a4d27b9571"><enum>(e)</enum><header>Determinations
of budget levels</header><text>For purposes of this section, the levels of net
direct spending shall be determined on the basis of estimates provided by the
Committee on the Budget of the Senate.</text>
</subsection><subsection id="ID020acac8609b4fc386ebdeb4a5ca3d59"><enum>(f)</enum><header>Application to
reconciliation</header><text>This section shall not apply to any legislation
reported pursuant to reconciliation directions contained in a concurrent
resolution on the
budget.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="IDf3f239b7372d4175ae31a7bb8a232a36"><enum>108.</enum><header>Application of
Budget Act to unreported bills</header>
<subsection id="ID860c91a8b9fd44eb9c6ae555fda98978"><enum>(a)</enum><header>Allocations and
aggregates</header><text>Sections 302(f)(1)(A) and 311(a)(1)(A) of the
Congressional Budget Act of 1974 are amended by striking <quote>as
reported</quote>.</text>
</subsection><subsection id="ID929cd134b9044257b15c86f99dbb2d36"><enum>(b)</enum><header>Untimely
budget-related legislation</header><text>Section 303(b) of the Congressional
Budget Act of 1974 is amended—</text>
<paragraph id="ID8820ba428e9c4454aa0e1cbd8f91feb2"><enum>(1)</enum><text>in paragraph (1),
by striking <quote>, as reported,</quote> each place it appears;</text>
</paragraph><paragraph id="ID43894bced62b4d459585b070c241591d"><enum>(2)</enum><text>in paragraph
(1)(B), by inserting <quote>or</quote> at the end;</text>
</paragraph><paragraph id="IDb91c56a43ea44a14a7e5b84db36551fc"><enum>(3)</enum><text>in paragraph (2),
by striking <quote>; or</quote> and inserting a period in its place; and</text>
</paragraph><paragraph id="ID863eca8d106f417f84020737f6da9d71"><enum>(4)</enum><text>by striking
paragraph (3).</text>
</paragraph></subsection></section><enum>II</enum><header>Reform of
budgetary treatment of Federal insurance programs</header>
<section id="ID2AEF34A7D67D4495A34B21A2FBC667CE"><enum>201.</enum><header>Federal
insurance programs</header>
<subsection id="ID82A984145AD24A82B604BCDB2CE9DC91"><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="IDAACAA5E3843648C3B466D102C94D9439">
<title id="ID6126050D9DE84BDFA6C3F92550DB141B"><enum>VI</enum><header>Budgetary
treatment of Federal insurance programs</header>
<section id="IDC1B6F688805E4ED2B2412C518FC1DAC7"><enum>601.</enum><header>Short
title</header><text display-inline="no-display-inline">This title may be cited
as the <quote>Federal Insurance Budgeting Act of 2005</quote>.</text>
</section><section id="ID7AF11F3616B34FD4A439ADD927689E1D"><enum>602.</enum><header>Budgetary
treatment</header>
<subsection id="ID128CA40B9B5A44D49294BDBE5B89B6DA"><enum>(a)</enum><header>President’s
budget</header><text>Beginning with fiscal year 2012, the budget of the
Government submitted pursuant to section 1105(a) of title 31, United States
Code, shall be based on the risk-assumed cost of Federal insurance
programs.</text>
</subsection><subsection id="IDB25C3AB9508041D79318975027B3D001"><enum>(b)</enum><header>Budget
accounting</header><text>For any Federal insurance program—</text>
<paragraph id="ID305758E16DD44CCD90E7B41286105080"><enum>(1)</enum><text>the program
account shall—</text>
<subparagraph id="IDFE4172BAB27F49658C4BAFA6225518B5"><enum>(A)</enum><text>pay the
risk-assumed cost borne by taxpayers to the financing account; and</text>
</subparagraph><subparagraph id="IDAEDC87DB1D1F41C586A0644FE7001702"><enum>(B)</enum><text>pay actual
insurance program administrative costs; and</text>
</subparagraph></paragraph><paragraph id="ID7ACB7F518404411CA300C3F139CEA5BF"><enum>(2)</enum><text>the financing
account shall—</text>
<subparagraph id="ID769D9C05B7A4477BACB8374705A05778"><enum>(A)</enum><text>receive premiums
and other income;</text>
</subparagraph><subparagraph id="IDE07D6771119D44AC908356D64256EE48"><enum>(B)</enum><text>pay all claims
for insurance and receive all recoveries; and</text>
</subparagraph><subparagraph id="ID7158D13C940543E5BDA60240CB4F06C3"><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="IDCB8DE3C8FBC24D7FB1EDA18F87C9E445"><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="ID2A8805756A47442AB9F64851F0E4AD67"><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="ID2C3952BD599E432297ACD0A1B9044D32"><enum>(c)</enum><header>Appropriations
required</header><paragraph commented="no" display-inline="yes-display-inline" id="ID72F4CD4B6F5547988103CEE42F1C8DDA"><enum>(1)</enum><text>Notwithstanding any
other provision of law, insurance commitments may be made for fiscal year 2010
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="ID205F6B5AA603466CBFABD210B6FF49AF" 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="IDC8E5365AFA2F476ABFDD98665500263B" indent="up1"><enum>(3)</enum><text>Paragraph (1) shall not apply to
Federal insurance programs that constitute entitlements.</text>
</paragraph></subsection><subsection id="IDF3E7A87F25744A04993B2402133200C7"><enum>(d)</enum><header>Reestimates</header>
<paragraph id="ID1C5037ED34DF4851911C8B74D1F3958F"><enum>(1)</enum><header>In
general</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>
</paragraph><paragraph id="IDB8745AF6AE134DA6916300C671A1697E"><enum>(2)</enum><header>Appropriations</header><text>There
are appropriated such sums as are necessary to fund a positive reestimate under
paragraph (1).</text>
</paragraph></subsection><subsection id="IDEBFBC1826C7E4EBE819E1E455D4FF99E"><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="ID447D198280B04B7F9D6908D7F7AB4F6C"><enum>603.</enum><header>Timetable for
implementation of accrual budgeting for Federal insurance programs</header>
<subsection id="ID07B94A7EC90444329CA08EF2E2C02157"><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 2009. Agencies will likewise provide OMB with annual estimates of
modifications, if any, and reestimates of program costs.</text>
</subsection><subsection id="ID4E7D0EF89429415C86455380F7A467A4"><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 2009, 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="ID20D8F3A07F584F48ADDAEE27A3A12F3D"><enum>(c)</enum><header>Revision</header><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>
</subsection><subsection id="ID942A075A77314CB9A79CF9DE3614ED2D"><enum>(d)</enum><header>OMB, CBO, and
GAO evaluations</header><paragraph commented="no" display-inline="yes-display-inline" id="ID36BCF5BD346048D6A7E5AF41B05FD4AD"><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 2011, 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="ID7281CB537A0247D59ED177F0A2B885CD" indent="up1"><enum>(2)</enum><text>Each report made pursuant to
paragraph (1) shall address the following:</text>
<subparagraph id="IDE59E3C87E55A48269DD1C91E6C40B059"><enum>(A)</enum><text>The adequacy of risk-assumed
estimation models used and alternative modeling methods.</text>
</subparagraph><subparagraph id="IDDBF18AE02FDB4E49AB85FF4B00CE9446"><enum>(B)</enum><text>The availability and reliability of
data or information necessary to carry out this title.</text>
</subparagraph><subparagraph id="ID791158D0B3394A93A1390582BE00F243"><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="ID399E719842C04F7C97A5455540641F21"><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="ID6F73AD4BEAC24C4781A662B36F45F79D"><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="ID50E898425A9C4A07A6F79D719E03D4BA"><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="ID18F4D3C2E37F478394BB301F4D0000C8"><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="IDCAA577D3B85D4A78848337B6ED862FBF"><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="IDCC3F193313A0497899CA12E0C9385361"><enum>604.</enum><header>Definitions</header><text display-inline="no-display-inline">For purposes of this title:</text>
<paragraph id="ID2E90B29DA9FD4E45968974F277974690"><enum>(1)</enum><text>The term
<term>CBO</term> means the Director of the Congressional Budget Office.</text>
</paragraph><paragraph id="id8F9FA1E100974F19B60198FAD274CE66"><enum>(2)</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="id029F424C172C4F3AB0529500D06D8C8F"><enum>(3)</enum><text>The term
<term>Federal insurance program</term> means a program that makes insurance
commitments and includes the list of such programs as to be defined by the
budget concepts commission, as required by title IV of the Truth in Budgeting
and Social Security Protection Act of 2005.</text>
</paragraph><paragraph id="ID61174D03289D47F991952100F5DE44CA"><enum>(4)</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="idA6C46789D49F4ED79C760226F470FF7D"><enum>(5)</enum><text>The term
<term>GAO</term> means the Comptroller General of the United States.</text>
</paragraph><paragraph id="idCF4694AA09FA4FBFB9148FA811751E45"><enum>(6)</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="id3DE871DB72254CE18447838D4206A534"><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="idF29DACC3B0444A949B2E8EE92CD93001"><enum>(8)</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="idA1CCF98A8F8C462DB838A40828CCB45F"><enum>(9)</enum><text>The term
<term>OMB</term> means the Director of the Office of Management and
Budget.</text>
</paragraph><paragraph id="idB8FBEDFC0C4C4DF8A624071F35F520AD"><enum>(10)</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="ID2218BDCD5E2043B7BAF774936B68A422"><enum>(11)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="ID3DF685E320C040CAB1BBD13C95C400AF"><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="ID898F93D73B6C414184079F40473BC87F" indent="up1"><enum>(B)</enum><text>The cash flows associated with an
insurance commitment include—</text>
<clause id="ID56702AE3AA1940C782BA890419E3A624"><enum>(i)</enum><text>expected claims payments inherent
in the Government’s commitment;</text>
</clause><clause id="IDAB80A8FC3AC448EDBE34E059B1EF4B9F"><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="ID0F18E506169F49EF82635D15443CEE93"><enum>(iii)</enum><text>expected recoveries; and</text>
</clause><clause id="IDA11722498DD24CD982EEABBFF56CA4D6"><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="ID8EC664F4E6024768AC3BB4F1967B38F5" 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="ID410FFBF440E34D0DA583E2408B68FAC3" 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
submitted pursuant to section 1105(a) of title 31, United States Code.</text>
</subparagraph><subparagraph id="ID056355CCFBAA4D7E8227B33E88AB432C" 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></section><section id="ID3E4317D0FB82455EB430D9BB4EA2CC30"><enum>605.</enum><header>Authorizations
to enter into contracts; actuarial cost account</header>
<subsection id="ID2D4C86EF51244CA98DC8E3162F48F866"><enum>(a)</enum><header>Authorization
of appropriations</header><text>There is 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="ID872456402B194F0BA0A500756240BF43"><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 chapter 15 of title 31, United States Code. Cash balances of
the financing accounts in excess of current requirements shall be maintained in
a form of uninvested funds, and the Secretary of the Treasury shall pay
interest on these funds.</text>
</subsection><subsection id="IDE2B1254B1E214017B3F585494788C0F7"><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="ID4670870026AE483EAAEF1E641225EEC9"><enum>(1)</enum><text>A financing account is
established on September 30, 2011, for each Federal insurance program.</text>
</paragraph><paragraph id="ID4FBB97C3FDFB41E683EC9FEDC5CCA6A3" indent="up1"><enum>(2)</enum><text>These financing accounts shall be
used in implementing the budget accounting required by this title.</text>
</paragraph></subsection></section><section id="IDD691230FD4AD4AA1B1C6BC3FD66FD38D"><enum>606.</enum><header>Effective
date</header>
<subsection id="ID3AE35D24DC554D97BB47F403E6896281"><enum>(a)</enum><header>In
general</header><text>This title shall take effect immediately and shall expire
on September 30, 2013.</text>
</subsection><subsection id="ID5EC8CCD885F84A11A130F9A1004F0674"><enum>(b)</enum><header>Special
rule</header><text>If this title is not reauthorized by September 30, 2013,
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>III</enum><header>Biennial
budgeting and appropriations</header>
<section id="IDE1DD066132334ECA8F7EE74DF4B5A825"><enum>301.</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 act-name="" display-inline="no-display-inline" id="idBAD035987185488481A3D562518E9AD0" style="traditional">
<section id="id458391913DB34DFEB55ADD7E91474FB6"><enum>300.</enum><header>Timetable</header><subsection commented="no" display-inline="yes-display-inline" id="id1A802A9781A3476CB0207CF3183618D0"><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 111th Congress) is as follows:</text>
<table align-to-level="section" blank-lines-before="0" frame="none" line-rules="no-gen" rule-weights="0.0.0.4.0.0" subformat="S6211" table-type="2-General">
<tgroup cols="2" fnote-size="0" grid-typeface="1.1" thead-tbody-ldg-size="10.10.16" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="154.13pt" min-data-value="30"></colspec><colspec align="left" coldef="txt-no-ldr" colname="col2" colsep="1" colwidth="281.69pt" min-data-value="70"></colspec>
<tbody>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1"></entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">First
Session</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1">On or
before:</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Action to be completed:</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">First Monday in
February</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">President submits budget recommendations.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">February
15</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congressional Budget Office submits report to Budget
Committees.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1">Not later than 6 weeks
after budget submission.</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Committees submit views and estimates to
Budget Committees.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">April 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Budget
Committees report concurrent resolution on the biennial budget.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">May 15</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congress
completes action on concurrent resolution on the biennial budget.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">May 15</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Biennial
appropriation bills may be considered in the House.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">June 10</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">House
Appropriations Committee reports last biennial appropriation bill.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">June 30</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">House completes
action on biennial appropriation bills.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">August 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congress
completes action on reconciliation legislation.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">October 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Biennium
begins.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1"></entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Second
Session</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1">On or
before:</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Action to be completed:</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">February
15</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">President submits budget review.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1">Not later than 6 weeks
after President submits budget review.</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congressional Budget Office
submits report to Budget Committees.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1">The last day of the
session.</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congress completes action on bills and resolutions authorizing new
budget authority for the succeeding biennium.</entry>
</row>
</tbody>
</tgroup>
</table>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID6A2CD9A0AD3345C59ED3241233F4D3B7"><enum>(b)</enum><header>Special
rule</header><text display-inline="yes-display-inline">In the case of any first
session of Congress that begins in any year immediately following a leap year
and 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="0" frame="none" line-rules="no-gen" rule-weights="0.0.0.4.0.0" subformat="S6211" table-type="2-General">
<tgroup cols="2" fnote-size="0" grid-typeface="1.1" thead-tbody-ldg-size="10.10.16" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="1" colwidth="154.13pt" min-data-value="30"></colspec><colspec align="left" coldef="txt-no-ldr" colname="col2" colsep="1" colwidth="281.69pt" min-data-value="70"></colspec>
<tbody>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1"></entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">First
Session</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1">On or
before:</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Action to be completed:</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">First Monday in
April</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">President submits budget recommendations.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">April 20</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Committees
submit views and estimates to Budget Committees.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">May 15</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Budget
Committees report concurrent resolution on the biennial budget.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">June 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congress
completes action on concurrent resolution on the biennial budget.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">July 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Biennial
appropriation bills may be considered in the House.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">July 20</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">House completes
action on biennial appropriation bills.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">August 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Congress
completes action on reconciliation legislation.</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">October 1</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">Biennium
begins.</entry>
</row>
</tbody>
</tgroup></table>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID33B81B0CF0AD444EA800FE68BBA72889"><enum>302.</enum><header>Amendments to
the Congressional Budget and Impoundment Control Act of 1974</header>
<subsection id="ID58A825F3E0F842B1A87CB31142CB0189"><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)">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="IDC820A783FF914EC9AD51CFD2ADF15BCA"><enum>(b)</enum><header>Definitions</header>
<paragraph id="ID22633B48EF3B4BDFBEA9663271ECB496"><enum>(1)</enum><header>Budget
resolution</header><text>Section 3(4) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/622(4)">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="ID6C361B8333F64E409C937000000742F2"><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>) is further amended by adding at the end the
following new paragraph:</text>
<quoted-block id="IDB0EB4B19F8E74E229C33A4FD085156C7">
<paragraph id="ID415B415193894881BDE9B86F9060356F"><enum>(11)</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="IDC430ED9FE7C649578DCCD200B8CFDC85"><enum>(c)</enum><header>Biennial
concurrent resolution on the budget</header>
<paragraph id="ID31E512AC87274850B291E44BFA7CA428"><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(a)">2 U.S.C. 632(a)</external-xref>)
is amended—</text>
<subparagraph id="ID2C19E95D7F2C4B84BAD6264B79CB0006"><enum>(A)</enum><text>in the matter
preceding paragraph (1) by—</text>
<clause id="ID9EFD960B99A74831005D843BBDCE0118"><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="IDA5D113559F4044529C987CB249E56270"><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>; and</text>
</clause><clause id="ID27270671EE0F486F80FD9D2C3E7DD0E6"><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>;</text>
</clause></subparagraph><subparagraph id="ID9FB9FF01422A489D89696B71FDE4A6C6"><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="IDE042F0DD0A924252BEECCD50379320FA"><enum>(C)</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="ID94060D8D48CC48D700B7A1542C3814F6"><enum>(2)</enum><header>Additional
matters</header><text>Section 301(b)(3) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632(b)">2 U.S.C. 632(b)</external-xref>)
is amended by striking <quote>for such fiscal year</quote> and inserting
<quote>for either fiscal year in such biennium</quote>.</text>
</paragraph><paragraph id="IDF9C7931F0C5C481EACA742F513A8EE9B"><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(d)">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="ID130531B272694FBF8D206345CAE5C44B"><enum>(4)</enum><header>Hearings</header><text>Section
301(e)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632(e)">2 U.S.C. 632(e)</external-xref>) is amended
by—</text>
<subparagraph id="ID7F9542C11C244A91871FA4998D7478AC"><enum>(A)</enum><text>striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>; and</text>
</subparagraph><subparagraph id="ID69FFBF7BD11F4375B70376FABFB5D1A8"><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 concurrent
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="ID42B253D96552448993F47F2B61F500B9"><enum>(5)</enum><header>Goals for
reducing unemployment</header><text>Section 301(f) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/632(f)">2 U.S.C. 632(f)</external-xref>)
is amended by striking <quote>fiscal year</quote> each place it appears and
inserting <quote>biennium</quote>.</text>
</paragraph><paragraph id="IDE573C6E58D894044A0B4C7EDD9639693"><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(g)(1)">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="IDFCEC6A62D4D14983A0751C5800169C50"><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 level="section">annual</header-in-text></quote> and inserting
<quote><header-in-text level="section">biennial</header-in-text></quote>.</text>
</paragraph><paragraph id="ID893B08932F2345B4A0C0F7DF634BB726"><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="IDD7E8A893166C471D917F80A28F1B7BC9"><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="ID815E9A7F8D174AC0AF8BD38EB876AB35"><enum>(1)</enum><text>in subsection
(a)(1), by—</text>
<subparagraph id="ID874B9F38F4EF47D3A8FEDFDF80F1BB61"><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="IDC26818E90C45412DB85F5FD429E33F86"><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="IDFA722473EF414481838D2D8244123302"><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="IDB5A42B3534EB49899D8E392EBC6B338B"><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="IDCCC3410D932F4EA283873181465E3C65"><enum>(3)</enum><text>in subsection
(f)(1), by striking <quote>first fiscal year</quote> and inserting <quote>each
fiscal year of the biennium</quote>;</text>
</paragraph><paragraph id="ID560AA74C973D4BE69110B9A1BF883B30"><enum>(4)</enum><text>in subsection
(f)(2)(A), by—</text>
<subparagraph id="ID0FFD3223B1854A8C9E177BAE4C6F3F49"><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="ID8887FC97206B40D2A100EBC2967D2642"><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="IDF02E87A8412B4DAABFDFE0C867668C43"><enum>(5)</enum><text>in subsection
(g)(1)(A), by striking <quote>April</quote> and inserting
<quote>May</quote>.</text>
</paragraph></subsection><subsection id="ID13C579BD15A240EC88F333B7D34E8FBE"><enum>(e)</enum><header>Section
<enum-in-header>303</enum-in-header> point of order</header>
<paragraph id="ID6B5239642E1649009B1293D571D3EC16"><enum>(1)</enum><header>In
general</header><text>Section 303(a) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/634(a)">2 U.S.C. 634(a)</external-xref>)
is amended by striking <quote>first fiscal year</quote> and inserting
<quote>each fiscal year of the biennium</quote>.</text>
</paragraph><paragraph id="ID387D2CC129154E11B29EA266C04280CB"><enum>(2)</enum><header>Exceptions in
the House</header><text>Section 303(b)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/634(b)">2 U.S.C. 634(b)</external-xref>) is
amended—</text>
<subparagraph id="ID5EF93E774EBC4C50946DB62C7CD069A4"><enum>(A)</enum><text>in subparagraph
(A), by striking <quote>the budget year</quote> and inserting <quote>the
biennium</quote>; and</text>
</subparagraph><subparagraph id="IDF71A1F5064974402AC7EFEC7564D2590"><enum>(B)</enum><text>in subparagraph
(B), by striking <quote>the fiscal year</quote> and inserting <quote>the
biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="ID93B55C0980DE4E0BBE606182C4D4B300"><enum>(3)</enum><header>Application to
the Senate</header><text>Section 303(c)(1) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/634(c)">2 U.S.C. 634(c)</external-xref>)
is amended by—</text>
<subparagraph id="ID4E3874B8758C4C4392FDCA82E60038C2"><enum>(A)</enum><text>striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>; and</text>
</subparagraph><subparagraph id="IDF4CCEC945FB649DE8E14C72000BF72D1"><enum>(B)</enum><text>striking
<quote>that year</quote> and inserting <quote>each fiscal year of that
biennium</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="IDD4773AD944BE498AA600F200572279D7"><enum>(f)</enum><header>Permissible
revisions of concurrent resolutions on the budget</header><text>Section 304(a)
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="IDA0F4EF7DE18C41B0B74E1E1F85149034"><enum>(1)</enum><text>by striking
<quote>fiscal year</quote> the first 2 places it appears and inserting
<quote>biennium</quote>;</text>
</paragraph><paragraph id="ID2ED389FBE2574C9AB0525940D9BD45B6"><enum>(2)</enum><text>by striking
<quote>for such fiscal year</quote>; and</text>
</paragraph><paragraph id="IDB094679CFD844624A0553E23D4F4B58C"><enum>(3)</enum><text>by inserting
before the period <quote>for such biennium</quote>.</text>
</paragraph></subsection><subsection id="IDC85CC1A683E94046BA8729D5558700FD"><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(b)(3)">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="IDB771F499E8EF4A459E46D58FE26335BC"><enum>(h)</enum><header>Completion of
House 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="IDBF78C5FD790040E6AF96F1A0C677AE07"><enum>(1)</enum><text>by striking
<quote>each year</quote> and inserting <quote>each odd-numbered
year</quote>;</text>
</paragraph><paragraph id="ID49F9FDD964474B4790FF8F83851032D2"><enum>(2)</enum><text>by striking
<quote>annual</quote> and inserting <quote>biennial</quote>;</text>
</paragraph><paragraph id="ID8CE30D420ED2495F90D06900BBCDBD30"><enum>(3)</enum><text>by striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>; and</text>
</paragraph><paragraph id="ID479C5BFA7C7146F68E1460ED5B93C470"><enum>(4)</enum><text>by striking
<quote>that year</quote> and inserting <quote>each odd-numbered
year</quote>.</text>
</paragraph></subsection><subsection id="IDF59D04B7FD74484CB7946F18EB30C65E"><enum>(i)</enum><header>Completion of
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="ID0FB6C51C68F14BDEA964BEEAC76357DF"><enum>(1)</enum><text>by inserting
<quote>of any odd-numbered calendar year</quote> after
<quote>July</quote>;</text>
</paragraph><paragraph id="ID64148B166AF84AE2A6A15340AC00E384"><enum>(2)</enum><text>by striking
<quote>annual</quote> and inserting <quote>biennial</quote>; and</text>
</paragraph><paragraph id="ID0A4C36099E314E5ABF31F47026AD4045"><enum>(3)</enum><text>by striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>.</text>
</paragraph></subsection><subsection id="IDF8A1A97161AB43A49CA94862BE93335F"><enum>(j)</enum><header>Reconciliation
process</header><text>Section 310(a) of such Act (<external-xref legal-doc="usc" parsable-cite="usc/2/641(a)">2 U.S.C. 641(a)</external-xref>)
is amended—</text>
<paragraph id="ID705017292F314C74B3CD32FC8542491F"><enum>(1)</enum><text>in the matter
preceding paragraph (1), by striking <quote>any fiscal year</quote> and
inserting <quote>any biennium</quote>; and</text>
</paragraph><paragraph id="ID0BFF6365D59746FFBDB202E76DE86193"><enum>(2)</enum><text>in paragraph (1)
by striking <quote>such fiscal year</quote> each place it appears and inserting
<quote>any fiscal year covered by such resolution</quote>.</text>
</paragraph></subsection><subsection id="IDFA80CD2548584758A134E9136B14D125"><enum>(k)</enum><header>Section
<enum-in-header>311</enum-in-header> point of order</header>
<paragraph id="IDB410770168C2458888CE7D3C6E5F4BA4"><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(a)">2 U.S.C. 642(a)</external-xref>)
is amended—</text>
<subparagraph id="ID7878680436A8410A967DB0866C00D367"><enum>(A)</enum><text>by striking
<quote>for a fiscal year</quote> and inserting <quote>for a
biennium</quote>;</text>
</subparagraph><subparagraph id="ID1CDA88310AA64B46936B67516126C2D0"><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="IDA139C7596E7246F69D5100363D702276"><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="ID63CAD5FD2E0B4B25A619555B88C3DE12"><enum>(2)</enum><header>In the
Senate</header><text>Section 311(a)(2) of such Act is amended—</text>
<subparagraph id="IDABF4A681267D40F894C0136D50325400"><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="ID2D9C8AEEB89742B5A5587F49D027E2AE"><enum>(B)</enum><text>in subparagraph
(B)—</text>
<clause id="ID4B8FB4E73F334C3280A073DB4D3695FE"><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="ID2BD7DEA3A1034B148653F7BF00B2726D"><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="ID85BE10C4EB7D4394B707B930EC37621C"><enum>(3)</enum><header>Social Security
levels</header><text>Section 311(a)(3) of such Act is amended by—</text>
<subparagraph id="ID433A8A93183944AFAA0067D8C3EAEC00"><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="IDC20F05869C6744AA90C73623AF848213"><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="IDDF0312589A854875938BD9F8AA6800CA"><enum>(l)</enum><header>MDA 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="IDBF45CE26BD1F4033B1362D9D628D3E9E"><enum>(1)</enum><text>by striking
<quote>for a fiscal year</quote> and inserting <quote>for a
biennium</quote>;</text>
</paragraph><paragraph id="IDF784921F78B64247A1DBF3F1B49986BE"><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="ID4297B4745264415E9183604D4637EAC6"><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="ID37B98B8B4EFA4B52842E7B04CF04AE44"><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="IDFA6E706C72EE4F4B0094C99616A23ECC"><enum>303.</enum><header>Amendments to
title <enum-in-header>31</enum-in-header>, United States Code</header>
<subsection id="IDA10776AE64A74C53871D99024039ACA4"><enum>(a)</enum><header>Definition</header><text>Section
1101 of title 31, United States Code, is amended by adding at the end thereof
the following new paragraph:</text>
<quoted-block id="ID5B0BECBC810046C5AFC38D898CDCEEF3">
<paragraph id="ID960F79A81ABC4C4BA6CCCC00B482E3AA"><enum>(3)</enum><text><quote>biennium</quote>
has the meaning given to such term in paragraph (11) of section 3 of the
Congressional Budget and Impoundment Control Act of 1974 (<external-xref legal-doc="usc" parsable-cite="usc/2/622(11)">2 U.S.C.
622(11)</external-xref>).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDB25BE119025B4F3482D1CADA88FF5565"><enum>(b)</enum><header>Budget contents
and submission to Congress</header>
<paragraph id="ID6C233C89A0C54341B72883BFBEBF1548"><enum>(1)</enum><header>Schedule</header><text>The
matter preceding paragraph (1) in section 1105(a) of title 31, United States
Code, is amended to read as follows:</text>
<quoted-block id="IDD2BB3F3FFDB74CAE935EA96D32C3BDA8">
<subsection id="ID913980D9B0C34898996D19CE632B6D36"><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 111th Congress, the President shall transmit to 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="IDB4E6CD59C30A4D1FA5EF5D2CEF51C1B5"><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="IDF7AE56391A4F4133B4168168CC53E6BB"><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="ID4FDEACCFD9344597B43B104445128CD7"><enum>(4)</enum><header>Balance
statements</header><text>Section 1105(a)(9)(C) 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="ID52F86B2FB3094044ACFC6BAA4733D240"><enum>(5)</enum><header>Functions and
activities</header><text>Section 1105(a)(12) 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="IDB2F4BD5553F1447E9EEFE4BA4B11CB9C"><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="IDDC29BAEDFCE74F65BF98179BB25D6FE6"><enum>(7)</enum><header>Allowances for
uncontrolled 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="IDECCB2B42975D4FFC81F9FF00BDC200ED"><enum>(8)</enum><header>Tax
expenditures</header><text>Section 1105(a)(16) 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="ID52723B91A0EB4EBDABB100B939C8F320"><enum>(9)</enum><header>Future
years</header><text>Section 1105(a)(17) of title 31, United States Code, is
amended—</text>
<subparagraph id="IDD2A456F387014FDABEB477C9159E96F7"><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="ID5BB5535A7DF244E59EAFC2958030E753"><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="ID3C95AC7B91754DAE8DEC6ED24000D885"><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="ID0296E06BED6B4B64B469F16F6764A604"><enum>(10)</enum><header>Prior year
outlays</header><text>Section 1105(a)(18) of title 31, United States Code, is
amended—</text>
<subparagraph id="ID345C29FD29B34D37ABF617288C650224"><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="IDD9D234CD2DAD49AB91258000DFC5007C"><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="ID868D808EF9DB42158723F7ACB0AAF3E4"><enum>(C)</enum><text>by striking
<quote>in that year</quote> and inserting <quote>in those fiscal
years</quote>.</text>
</subparagraph></paragraph><paragraph id="IDD2996304E72B41B5A7F8C923F2F87DD6"><enum>(11)</enum><header>Prior year
receipts</header><text>Section 1105(a)(19) of title 31, United States Code, is
amended—</text>
<subparagraph id="ID7DAF8B8954C94699A1661C263C5ED6A3"><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="IDC74A1AB483CD499292461DFABCD31329"><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="ID9C8C2F5395174762B9E03464ED711923"><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="ID4FB5AC4CB5D94E74AD60E420ADB15C97"><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="IDE82B57628B2547B1A1A466A58F00D9C9"><enum>(d)</enum><header>Recommendations
To meet estimated deficiencies</header><text>Section 1105(c) of title 31,
United States Code, is amended—</text>
<paragraph id="ID91743B2D54A1422CBBFE572784627D74"><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="ID398860D466E345D5BD155794E662B213"><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="ID49FD13BD4E024D1EB8EE1DEE6484E46F"><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="ID69A319C8C8EC41DC9C29EAFF87602C18"><enum>(e)</enum><header>Capital
investment analysis</header><text>Section 1105(e)(1) 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="IDE2BC359AA285403798B09705C2C0ABBE"><enum>(f)</enum><header>Supplemental
budget estimates and changes</header>
<paragraph id="ID9B569E756E36499DA512008128151525"><enum>(1)</enum><header>In
general</header><text>Section 1106(a) of title 31, United States Code, is
amended—</text>
<subparagraph id="ID1B5AA54D7DD244D99F5D3040F509CF16"><enum>(A)</enum><text>in the matter
preceding paragraph (1), by—</text>
<clause id="ID3FF0296FE7C44751B4D929ECA2CD087B"><enum>(i)</enum><text>striking
<quote>Before July 16 of each year,</quote> and inserting <quote>Before
February 15 of each even numbered year,</quote>; and</text>
</clause><clause id="ID2D670CB06245471EB13FA40781FB656E"><enum>(ii)</enum><text>striking
<quote>fiscal year</quote> and inserting <quote>biennium</quote>;</text>
</clause></subparagraph><subparagraph id="ID2F0A6B9514F9499900E6B80088888031"><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="IDAAA204F551834BA081E69414E783002F"><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="ID46634E0786EB40E5891565B561D9087C"><enum>(D)</enum><text>in paragraph (3),
by striking <quote>fiscal year</quote> and inserting
<quote>biennium</quote>.</text>
</subparagraph></paragraph><paragraph id="ID66590C502AE14D0981D4D2007D7B6B75"><enum>(2)</enum><header>Changes</header><text>Section
1106(b) of title 31, United States Code, is amended by—</text>
<subparagraph id="ID8DD123F168CE41DA82D800FCC8FFD329"><enum>(A)</enum><text>striking
<quote>the fiscal year</quote> and inserting <quote>each fiscal year in the
biennium</quote>;</text>
</subparagraph><subparagraph id="ID73CE42E5F9DF422EB28C0091AFEDD400"><enum>(B)</enum><text>striking
<quote>April 11 and July 16 of each year</quote> and inserting <quote>February
15 of each even-numbered year</quote>; and</text>
</subparagraph><subparagraph id="IDA6C4DF094AAB43F6A006BA909623E8E1"><enum>(C)</enum><text>striking
<quote>July 16</quote> and inserting <quote>February 15 of each even-numbered
year.</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="IDFA2A76F5DD98432A9715BA4645B68F00"><enum>(g)</enum><header>Current
programs and activities estimates</header>
<paragraph id="ID45CD0BFB48BE474C8881663000A351D2"><enum>(1)</enum><header>In
general</header><text>Section 1109(a) of title 31, United States Code, is
amended—</text>
<subparagraph id="IDDFF21874984E4404A3C7BA5745CF0045"><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="IDC8D81FB0DB4445D0BC22B3F6CAF7F66D"><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="IDFFD99B49DCCE44F0B92FA3063C15A27D"><enum>(2)</enum><header>Joint economic
Committee</header><text>Section 1109(b) 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="ID2A53E04738554E2492D987C1E1A8D4A6"><enum>(h)</enum><header>Year-Ahead
requests for authorizing legislation</header><text>Section 1110 of title 31,
United States Code, is amended by—</text>
<paragraph id="ID91C9B9D8E7254CCC852B453ECBA71F63"><enum>(1)</enum><text>striking
<quote>May 16</quote> and inserting <quote>March 31</quote>; and</text>
</paragraph><paragraph id="IDBB2EF5239D364ED79FA23012F1350059"><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="ID537828511C83427F00B8FB92E52C2BAE"><enum>304.</enum><header>Two-year
appropriations; title and style of appropriations Acts</header><text display-inline="no-display-inline">Section 105 of title 1, United States Code,
is amended to read as follows:</text>
<quoted-block id="ID53FF06047854433CB8B0D8A7D8BE262B" style="USC">
<section id="ID1063541FC32A49DFA59EFAB5A574F400"><enum>105.</enum><header>Title and
style of appropriations Acts</header>
<subsection id="ID4399C483AAE6443381F09BC2615E80B8"><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="ID508DE2EF4EF74C3290119E52FE8452D4"><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="IDF7BB94125BDD41509960C6AFEEB87462"><enum>(c)</enum><text>For purposes of
this section, the term <term>biennium</term> has the same meaning as in section
3(11) of the Congressional Budget and Impoundment Control Act of 1974
(<external-xref legal-doc="usc" parsable-cite="usc/2/622(11)">2 U.S.C.
622(11)</external-xref>).</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID1E01727E1CAD415EBB457E9FC9A8E600"><enum>305.</enum><header>Multiyear
authorizations</header>
<subsection id="ID2DA05B4582FA48AB8E63324FAED8E248"><enum>(a)</enum><header>In
general</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 act-name="" id="IDDB96181177194A1796F913569927D781" style="traditional"><section id="ID7D11BB170EF74AB5A9A48D99734BBA30"><enum>319.</enum><header>Authorizations of
appropriations</header><subsection commented="no" display-inline="yes-display-inline" id="IDF22FD449E4214BA68FBF3B925C599DDE"><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—</text>
<paragraph id="ID2D7D2F1C909248ABB5C0A4096DF55839"><enum>(1)</enum><text>any bill, joint
resolution, amendment, motion, or conference report that authorizes
appropriations for a period of less than 2 fiscal years, unless the program,
project, or activity for which the appropriations are authorized will require
no further appropriations and will be completed or terminated after the
appropriations have been expended; and</text>
</paragraph><paragraph id="ID64DB98D0C7844E3A92BC101B456D00AF"><enum>(2)</enum><text>in any
odd-numbered year, any authorization or revenue bill or joint resolution until
Congress completes action on the biennial budget resolution, all regular
biennial appropriations bills, and all reconciliation bills.</text>
</paragraph></subsection><subsection id="ID564DDF362F414ADC82D5EFD627DE6297"><enum>(b)</enum><header>Applicability</header><text>In
the Senate, subsection (a) shall not apply to—</text>
<paragraph id="ID9818ECBAC386477AA6AB7915469D3F06"><enum>(1)</enum><text>any measure that
is privileged for consideration pursuant to a rule or statute;</text>
</paragraph><paragraph id="IDF6F522E9D16C43A189329EADD5D24751"><enum>(2)</enum><text>any matter
considered in Executive Session; or</text>
</paragraph><paragraph id="ID0B6811AB9A724C2C8B7FB68BCA388057"><enum>(3)</enum><text>an appropriations
measure or reconciliation
bill.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDD5CFC15FF5584D3AB400A866F4154ED3"><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 318 the following new item:</text>
<quoted-block id="ID85B81C2F4F6D44BA93D8A29F92729239" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 319. Authorizations of
appropriations.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID4C9E2215E1264A859B01DEFAEEEFD983"><enum>306.</enum><header>Government
plans on a biennial basis</header>
<subsection id="ID7A1C4DC20AC84410B1521F9187B97D74"><enum>(a)</enum><header>Strategic
plans</header><text>Section 306 of title 5, United States Code, is
amended—</text>
<paragraph id="ID362D5A65DF6D4AC8BB1D00C44FA7A91B"><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="IDC349DB5289F24AD8A6862FC408D4B872"><enum>(2)</enum><text>in subsection
(b)—</text>
<subparagraph id="ID449F104DBF734593903B1F7CEDD9B319"><enum>(A)</enum><text>by striking
<quote>at least every three years</quote> and inserting <quote>at least every
four years</quote>; and</text>
</subparagraph><subparagraph id="IDBEEAFEA3ECD842128E81A9C479FD86B2"><enum>(B)</enum><text>by striking
<quote>five years forward</quote> and inserting <quote>six years
forward</quote>; and</text>
</subparagraph></paragraph><paragraph id="ID5E5F49A9D78E4EE0BB070037C8B8BA16"><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="ID0D6014FD6E084B2C8F3027B71239BF4E"><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
2010, a biennial</quote>.</text>
</subsection><subsection id="ID56121F08A58D4FB5B0627610D407F61E"><enum>(c)</enum><header>Performance
plans</header><text>Section 1115 of title 31, United States Code, is
amended—</text>
<paragraph id="ID07125A77D26D44C899B39647D5DCD22D"><enum>(1)</enum><text>in subsection
(a)—</text>
<subparagraph id="ID2EC8A048854D4785AB5C50798743C3E7"><enum>(A)</enum><text>in the matter
before paragraph (1)—</text>
<clause id="IDFACC81D6F072454DA400BD7D4592AE9F"><enum>(i)</enum><text>by
striking <quote>section 1105(a)(29)</quote> and inserting <quote>section
1105(a)(28)</quote>; and</text>
</clause><clause id="ID211EF6CE78BF44798FC6845D45002E00"><enum>(ii)</enum><text>by
striking <quote>an annual</quote> and inserting <quote>a
biennial</quote>;</text>
</clause></subparagraph><subparagraph id="ID28BDA571163C41CD883FBB4174D71343"><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="ID078BEF1C535E45078C4800E0DE00381F"><enum>(C)</enum><text>in paragraph (5),
by striking <quote>and</quote> after the semicolon;</text>
</subparagraph><subparagraph id="IDE52398995EA24CDA970063DFA803F3BC"><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="ID77A8B3259CB24AA6B78E092C9CEDFA7D"><enum>(E)</enum><text>by adding after
paragraph (6) the following:</text>
<quoted-block id="ID614456F5893E40639900B145341CE019">
<paragraph id="IDEED1509C31804889909E05CA173FD5AD"><enum>(7)</enum><text>cover a 2-year
period 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="ID94358AF7ABC14AC78E314E3F3B524C31"><enum>(2)</enum><text>in subsection
(d), by striking <quote>annual</quote> and inserting <quote>biennial</quote>;
and</text>
</paragraph><paragraph id="ID2779271A8F1547D183DFDDD8A35F5B16"><enum>(3)</enum><text>in paragraph (6)
of subsection (f), by striking <quote>annual</quote> and inserting
<quote>biennial</quote>.</text>
</paragraph></subsection><subsection id="IDB890CB729AB945AA9B1600DFB1A68900"><enum>(d)</enum><header>Managerial
accountability and flexibility</header><text>Section 9703 of title 31, United
States Code, relating to managerial accountability, is amended—</text>
<paragraph id="IDD9DC945746334614BCB2F874BF74FF5C"><enum>(1)</enum><text>in subsection
(a)—</text>
<subparagraph id="ID350634582557465AAF18FFF5B7A86DC8"><enum>(A)</enum><text>in the first
sentence by striking <quote>annual</quote>; and</text>
</subparagraph><subparagraph id="IDA4397AC8F40542F3AE5DDED7B5452569"><enum>(B)</enum><text>by striking
<quote>section 1105(a)(29)</quote> and inserting <quote>section
1105(a)(28)</quote>; and</text>
</subparagraph></paragraph><paragraph id="ID1E9F6074AE70413D9FE52C28C84B8042"><enum>(2)</enum><text>in subsection
(e)—</text>
<subparagraph id="IDADF5F37EC6C14333A84D4EE6B20179FC"><enum>(A)</enum><text>in the first
sentence by striking <quote>one or</quote> before <quote>years</quote>;</text>
</subparagraph><subparagraph id="IDD7695247659C463F924E8C862C11E3E8"><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="ID2C3F78AAE2224C38A99EA5DCB1D83600"><enum>(C)</enum><text>in the third
sentence by striking <quote>three</quote> and inserting
<quote>four</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="ID52B38592EFCD4B840024FEA060AC9990"><enum>(e)</enum><header>Pilot projects
for performance budgeting</header><text>Section 1119 of title 31, United States
Code, is amended—</text>
<paragraph id="ID76973DB0B2E447F789957D24ABC29079"><enum>(1)</enum><text>in paragraph (1)
of subsection (d), by striking <quote>annual</quote> and inserting
<quote>biennial</quote>; and</text>
</paragraph><paragraph id="IDC6DE28CFB5414819BF249E1C00661B19"><enum>(2)</enum><text>in subsection
(e), by striking <quote>annual</quote> and inserting
<quote>biennial</quote>.</text>
</paragraph></subsection><subsection id="ID02A3BC3B7EAE4B3A9BD6C61F3600E7EA"><enum>(f)</enum><header>Strategic
plans</header><text>Section 2802 of title 39, United States Code, is
amended—</text>
<paragraph id="IDCD59A86A36FF452F9413A06CFBB32197"><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="IDF4DCFF5CF6BC47A388F7B642B55F7150"><enum>(2)</enum><text>in subsection
(b), by striking <quote>at least every three years</quote> and inserting
<quote>at least every 4 years</quote>;</text>
</paragraph><paragraph id="ID30906583CDE446558B41B4066400442E"><enum>(3)</enum><text>by striking
<quote>five years forward</quote> and inserting <quote>six years
forward</quote>; and</text>
</paragraph><paragraph id="ID635A73F2C96B49C89437A61162C9ED25"><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="ID9C07B961F5E04B15B29B7C8CBA9556CC"><enum>(g)</enum><header>Performance
plans</header><text>Section 2803(a) of title 39, United States Code, is
amended—</text>
<paragraph id="ID04D3F15F1EBE4253B17788E0D206007F"><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="ID45541377EC7C4CF5A35D007D00AC6E72"><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="IDF55BD02B9A144475BDADE6DC19ED154C"><enum>(3)</enum><text>in paragraph (5),
by striking <quote>and</quote> after the semicolon;</text>
</paragraph><paragraph id="ID2B2723BE9ADE42E2BD6C56156E9E8095"><enum>(4)</enum><text>in paragraph (6),
by striking the period and inserting <quote>; and</quote>; and</text>
</paragraph><paragraph id="ID320CDBE9AE584AA2A9DB12FC44DE6968"><enum>(5)</enum><text>by adding after
paragraph (6) the following:</text>
<quoted-block id="IDF87095368A724BE8BFA6DBC9E180A95E">
<paragraph id="IDDF8E969BBC6F4FC98DC414D9EB261264"><enum>(7)</enum><text>cover a 2-year
period 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="ID8DE74FC65231489E966EA29379750254"><enum>(h)</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(d)">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 1115 and 1116 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><subsection id="IDF0181B8D8BC246CE82295EF550C7C056"><enum>(i)</enum><header>Effective
date</header>
<paragraph id="ID4AD2086CA1D1496CA700CF4C312B6BBC"><enum>(1)</enum><header>In
general</header><text>The amendments made by this section shall take effect on
March 1, 2009.</text>
</paragraph><paragraph id="ID9B977F21D1774E3CBB8980A14BBF69FC"><enum>(2)</enum><header>Agency
actions</header><text>Effective on and after the date of enactment of this Act,
each agency shall take such actions as necessary to prepare and submit any plan
or report in accordance with the amendments made by this Act.</text>
</paragraph></subsection></section><section id="IDBE5A4CCBE5914B308F1E65C38D667400"><enum>307.</enum><header>Biennial
appropriations bills</header>
<subsection id="ID154FA705C9064EB8A0CE6891107E5DDB"><enum>(a)</enum><header>In
general</header><text>Title III of the Congressional Budget Act of 1974
(<external-xref legal-doc="usc" parsable-cite="usc/2/631">2 U.S.C.
631</external-xref> et seq.) is amended by adding at the end the
following:</text>
<quoted-block act-name="" id="ID654870A67F414054AA41003577E8381D" style="traditional"><section id="IDC91CE5A79986495185931CA0D72C342D"><enum>320.</enum><header>Consideration of biennial appropriations
bills</header><text>It shall not be
in order in the House of Representatives or the Senate in any odd-numbered year
to consider any regular bill providing new budget authority or a limitation on
obligations under the jurisdiction of any of the subcommittees of the
Committees on Appropriations for only the first fiscal year of a biennium,
unless the program, project, or activity for which the new budget authority or
obligation limitation is provided will require no additional authority beyond 1
year and will be completed or terminated after the amount provided has been
expended.</text>
</section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID1F6BE0305C9B43FEB5473D83121182BE"><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 319 the following new item:</text>
<quoted-block id="ID2FADF3C8FB314EABAD275DE153DA6E08" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 320. Consideration of biennial
appropriations
bills.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID0B68994D5FE447D69BAAA2FA57F6344C"><enum>308.</enum><header>Report on
two-year fiscal period</header><text display-inline="no-display-inline">Not
later than 180 days after the date of enactment of this subpart, the Director
of OMB shall—</text>
<paragraph id="IDA9AD79EF76CF489893FBB5A24074EB27"><enum>(1)</enum><text>determine the
impact and feasibility of changing the definition of a fiscal year and the
budget process based on that definition to a 2-year fiscal period with a
biennial budget process based on the 2-year period; and</text>
</paragraph><paragraph id="IDCA0B1F5E009D4BEEA457D9F6E9B0341B"><enum>(2)</enum><text>report the
findings of the study to the Committees on the Budget of the House of
Representatives and the Senate.</text>
</paragraph></section><section id="IDE7AC55DCFF314211B900EDCFC826F1C6"><enum>309.</enum><header>Effective
date</header>
<subsection id="ID44E4209AA2CB49A3B54157A5F95411F1"><enum>(a)</enum><header>In
general</header><text>Except as provided in sections 306 and 308 and subsection
(b), this title and the amendments made by this title shall take effect on
January 1, 2009, and shall apply to budget resolutions and appropriations for
the biennium beginning with fiscal year 2010.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID9D179E256ED642E685568DD7EA76B7A2"><enum>(b)</enum><header>Authorizations
for the biennium</header><text>For purposes of authorizations for the biennium
beginning with fiscal year 2010, the provisions of this title and the
amendments made by this title relating to 2-year authorizations shall take
effect January 1, 2009.</text>
</subsection></section><enum>IV</enum><header>Commission on
Federal Budget Concepts</header>
<section id="ID357C14BE0A754B23A63228371B4B724C"><enum>401.</enum><header>Establishment
of Commission on Federal Budget Concepts</header><text display-inline="no-display-inline">There is established a commission to be
known as the Commission on Federal Budget Concepts (referred to in this title
as the <quote>Commission</quote>).</text>
</section><section id="ID5ACC32D6EE7C4E96B980494FA94CF365"><enum>402.</enum><header>Powers and
duties of Commission</header>
<subsection id="IDC6326573AAD047A89E32ABF3FB99808F"><enum>(a)</enum><header>Duties of the
Commission</header>
<paragraph id="IDB169C07E3336440DB38B614BA3913300"><enum>(1)</enum><header>In
general</header><text>The duties of the Commission shall include—</text>
<subparagraph id="IDCFDE25F9B4414AE9B29DAE4397C17852"><enum>(A)</enum><text>a review of the
1967 report of the President’s Commission on Budget Concepts and assessment of
the implementation of the recommendations of that report;</text>
</subparagraph><subparagraph id="ID645DC21EFC954AC7ACB50475B5257BA9"><enum>(B)</enum><text>identification
and evaluation of the structure, concepts, classifications, and bases of
accounting of the Federal budget;</text>
</subparagraph><subparagraph id="ID8447F20B8B2B46A1ADA3AA028FC4EB01"><enum>(C)</enum><text>identification of
any applicable general accounting principles and practices in the private
sector and evaluation of their value to budget practices in the Federal sector;
and</text>
</subparagraph><subparagraph id="ID1EA944029F72422C8DCCACBC0015325D"><enum>(D)</enum><text>a report that
shall include recommendations for modifications to the structure, concepts,
classifications, and bases of accounting of the Federal budget that would
enhance the usefulness of the budget for public policy and financial
planning.</text>
</subparagraph></paragraph><paragraph id="ID44C8FBF15DF64DC2A200D042C4CE85AD"><enum>(2)</enum><header>Specific areas
of consideration</header><text>Specific areas for consideration by the
Commission shall include the following:</text>
<subparagraph id="ID677308EB716248A79562869F233C3025"><enum>(A)</enum><text>Should part
ownership by the Government be sufficient to make an entity Federal and to
include it in the budget?</text>
</subparagraph><subparagraph id="ID7116FD623640415986F4EA3687456429"><enum>(B)</enum><text>When is Federal
control of an entity, including control exercised through Federal regulations,
sufficient to cause it to be included in the budget?</text>
</subparagraph><subparagraph id="ID56D8D03B56DE48BDB3D8516DC5F91054"><enum>(C)</enum><text>Are privately
owned assets under long-term leases to the Federal Government effectively
purchased by the Government during the lease period?</text>
</subparagraph><subparagraph id="ID6101439F6E814EBDB79EA868DE63DA00"><enum>(D)</enum><text>Should there be
an <quote>off-budget</quote> section of the budget? How should the Federal
Government differentiate between spending and receipts?</text>
</subparagraph><subparagraph id="ID4825644134F94EBCBD237754D9C9E6FB"><enum>(E)</enum><text>Should the total
costs of refundable tax credits belong on the spending side of the
budget?</text>
</subparagraph><subparagraph id="ID1D77A61CE5E247B0A52094C54ED28F8C"><enum>(F)</enum><text>When should
Federal Reserve earnings be reported as receipts or offsetting receipts
(negative spending) in the net interest portion of the budget?</text>
</subparagraph><subparagraph id="IDFF99CA7558494FC082EB9772A3326665"><enum>(G)</enum><text>What is a
<quote>user fee</quote> and under what circumstances is it properly an offset
to spending or a governmental receipt? What uses do trust funds have?</text>
</subparagraph><subparagraph id="ID217BC4280D9F460994041EEE5BB400B0"><enum>(H)</enum><text>Do trust fund
balances provide misleading information? Do the roughly 200 trust funds add
clarity or confusion to the budget process?</text>
</subparagraph><subparagraph id="IDF40AAEF7323C4D87BBE2B4C82E94F3CD"><enum>(I)</enum><text>Are there better
ways than trust fund accounting to identify long-term liabilities?</text>
</subparagraph><subparagraph id="IDB100D60D633A45F1ACC1602F25075017"><enum>(J)</enum><text>Should accrual
budgetary accounting be adopted for Federal retirement, military retirement, or
Social Security and other entitlements?</text>
</subparagraph><subparagraph id="ID8BB3CBC0EAB34D01A1F85807C2F740A2"><enum>(K)</enum><text>Are off-budget
accounts suitable for capturing accruals in the budget?</text>
</subparagraph><subparagraph id="ID7662616711444519840432CEE953F73E"><enum>(L)</enum><text>What is the
appropriate budgetary treatment of—</text>
<clause id="IDEE9A18AC17634F8AB75C5E7FDD19C974"><enum>(i)</enum><text>purchases and
sales of financial assets, including equities, bonds, and foreign
currencies;</text>
</clause><clause id="IDCF52FC0272E8416CA5C28126C8DA522B"><enum>(ii)</enum><text>emergency
spending;</text>
</clause><clause id="IDA1DDA0D89E3B4297B6D699B700DBEFB6"><enum>(iii)</enum><text>the cost of
holding fixed assets (cost of capital);</text>
</clause><clause id="ID6F87B3BA40764688BB87B261DEAEF4A6"><enum>(iv)</enum><text>sales of
physical assets; and</text>
</clause><clause id="ID83319294460442DAADA04C4DD23726D4"><enum>(v)</enum><text>seigniorage on
coins and currency?</text>
</clause></subparagraph><subparagraph id="IDFB247F2808794B1D009D279C04407DA0"><enum>(M)</enum><text>When policy
changes have strong but indirect feedback effects on revenues and other
aggregates, should they be reported in budget estimates?</text>
</subparagraph><subparagraph id="ID17FA86AE81AB441499A01700D9DA7F79"><enum>(N)</enum><text>How should the
policies that are one-sided bets on economic events (probabilistic scoring) be
represented in the budget?</text>
</subparagraph></paragraph></subsection><subsection id="ID4490A789B5374C7A8222647D000043C0"><enum>(b)</enum><header>Powers of the
Commission</header>
<paragraph id="ID0EE13484E8C7468F82B3AF00F7C9BD4E"><enum>(1)</enum><header>Conduct of
business</header><text>The Commission may hold hearings, take testimony,
receive evidence, and undertake such other activities necessary to carry out
its duties.</text>
</paragraph><paragraph id="IDE073911B55DA430AA1D473A781869D7C"><enum>(2)</enum><header>Access to
information</header><text>The Commission may secure directly from any
department or agency of the United States information necessary to carry out
its duties. Upon request of the Chair of the Commission, the head of that
department or agency shall furnish that information to the Commission.</text>
</paragraph><paragraph id="ID844616552BA44F1A91DDD1E11F13ED34"><enum>(3)</enum><header>Postal
service</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 United States.</text>
</paragraph></subsection></section><section id="IDC222A868E0C44DE48D004802D4718405"><enum>403.</enum><header>Membership</header>
<subsection id="IDF8C6A86C0DCC4F6C87468179CBA038E7"><enum>(a)</enum><header>Membership</header><text>The
Commission shall be composed of 12 members as follows:</text>
<paragraph id="ID0BE6EC05E4FF4A0B989B05E7E54C63D3"><enum>(1)</enum><text>Three members
appointed by the chairman of the Committee on the Budget of the Senate.</text>
</paragraph><paragraph id="ID8F14C6019F77444384DD50E81588AD82"><enum>(2)</enum><text>Three members
appointed by the chairman of the Committee on the Budget of the House of
Representatives.</text>
</paragraph><paragraph id="ID00E5D3B839C3448CB457736BF544A2A2"><enum>(3)</enum><text>Three members
appointed by the ranking member of the Committee on the Budget of the
Senate.</text>
</paragraph><paragraph id="IDE888EE2B61C341A29E40D2BF37459786"><enum>(4)</enum><text>Three members
appointed by the ranking member of the Committee on the Budget of the House of
Representatives.</text>
</paragraph></subsection><subsection id="ID82BAFD9370B140B395004F09FB4DC87C"><enum>(b)</enum><header>Qualifications
and term</header>
<paragraph id="ID623075C57DF14FD88CE2AE074C4790B8"><enum>(1)</enum><header>Qualifications</header><text>Members
appointed to the Commission pursuant to subsection (a) shall—</text>
<subparagraph id="ID98588AFFE2D74E6CA1D2F6689FB75CA9"><enum>(A)</enum><text>have expertise
and experience in the fields or disciplines related to the subject areas to be
considered by the Commission; and</text>
</subparagraph><subparagraph id="IDEB50EC6F8E4547F7BA1744AF00714801"><enum>(B)</enum><text>not be Members of
Congress.</text>
</subparagraph></paragraph><paragraph id="ID145023B73C504467BB7E18802747FFD7"><enum>(2)</enum><header>Term of
appointment</header><text>The term of an appointment to the Commission shall be
for the life of the Commission.</text>
</paragraph><paragraph id="ID0A997FBC83714797995B453DFCA7BFBC"><enum>(3)</enum><header>Chair and Vice
Chair</header><text>The Chair and Vice Chair may be elected from among the
members of the Commission. The Vice Chair shall assume the duties of the Chair
in the Chair’s absence.</text>
</paragraph></subsection><subsection id="ID8CF35A43CCD14CDFA5D5042F8FB2CF00"><enum>(c)</enum><header>Meetings;
quorum; and vacancies</header>
<paragraph id="ID9162D7A5BE4B49E8B1D257E4991475E7"><enum>(1)</enum><header>Meetings</header><text>The
Commission shall meet at least once a month on a day to be decided by the
Commission. The Commission may meet at such other times at the call of the
Chair or of a majority of its voting members. The meetings of the Commission
shall be open to the public, unless by public vote, the Commission shall
determine to close a meeting or any portion of a meeting to the public.</text>
</paragraph><paragraph id="ID0D2920A7E6B041FD9DCDB2503700FE5E"><enum>(2)</enum><header>Quorum</header><text>A
majority of the voting membership shall constitute a quorum of the Commission,
except that 3 or more voting members may conduct hearings.</text>
</paragraph><paragraph id="ID678B48BCB70A40C1A6355443B18117F6"><enum>(3)</enum><header>Vacancies</header><text>A
vacancy on the Commission shall be filled in the same manner in which the
original appointment was filled under subsection (a).</text>
</paragraph></subsection><subsection id="ID307C239F9C534CFDB8F50088FC83ED54"><enum>(d)</enum><header>Compensation
and expenses</header><text>Members of the Commission shall serve without pay
for their service on the Commission, but may receive travel expenses, including
per diem in lieu of subsistence, at rates authorized for employees of agencies
under subchapter I of chapter 57 of title 5, United States Code.</text>
</subsection></section><section id="IDC0C1C309427F4226BD28C5006063BFD1"><enum>404.</enum><header>Staff and
support services</header>
<subsection id="IDC19E735D058145AD895C6EC917B01F4C"><enum>(a)</enum><header>Staff</header><text>With
the advance approval of the Commission, the executive director may appoint such
personnel as is appropriate. The staff of the Commission shall be appointed
without regard to political affiliation and without regard to the provisions of
title 5, United States Code, governing appointments in the competitive service,
and may be paid without regard to the provisions of chapter 51 and subchapter
III of chapter 53 of such title relating to classifications and General
Schedule pay rates.</text>
</subsection><subsection id="ID3D5143C8493D4F4A876421628FA82338"><enum>(b)</enum><header>Executive
director</header><text>The Chairman shall appoint an executive director, who
shall be paid the rate of basic pay for level II of the Executive
Schedule.</text>
</subsection><subsection id="IDAC6EF643C5424A29A7DAF025E0DC40FA"><enum>(c)</enum><header>Experts and
consultants</header><text>With the advance approval of the Commission, the
executive director may procure temporary and intermittent services under
section 3109(b) of title 5, United States Code.</text>
</subsection><subsection id="IDF09062F151AF4A729C8C3FEA01FBC232"><enum>(d)</enum><header>Technical and
administrative assistance</header><text>Upon the request of the
Commission—</text>
<paragraph id="IDA2233AEAEDA84805A203E084BC90481C"><enum>(1)</enum><text>the head of any
agency, office, or establishment within the executive or legislative branches
of the United States shall provide, without reimbursement, such technical
assistance as the Commission determines is necessary to carry out its duties;
and</text>
</paragraph><paragraph id="IDF754DFEF0BB14D088D7ECFAAD09DA341"><enum>(2)</enum><text>the Administrator
of General Services shall provide, on a reimbursable basis, such administrative
support services as the Commission may require.</text>
</paragraph></subsection><subsection id="ID1AD46B4429DB4A2A9E13D869A8A1BA78"><enum>(e)</enum><header>Detail of
Federal personnel</header><text>Upon the request of the Commission, the head of
an agency, office, or establishment in the executive or legislative branch of
the United States is authorized to detail, without reimbursement, any of the
personnel of that agency, office, or establishment to the Commission to assist
the Commission in carrying out its duties. Any such detail shall not interrupt
or otherwise affect the employment status or privileges of that
employee.</text>
</subsection><subsection id="ID48A95DC9037F48EB00F6BE7733C0AA46"><enum>(f)</enum><header>CBO</header><text>The
Director of the Congressional Budget Office shall provide the Commission with
its latest research on the accuracy of its past budget and economic projections
as compared to those of the Office of Management and Budget and, if possible,
those of private sector forecasters. The Commission shall work with the
Directors of the Congressional Budget Office and the Office of Management and
Budget in their efforts to explain the factors affecting the accuracy of budget
projections.</text>
</subsection></section><section id="ID0D8AB0241983470BAAB4777FE967CA76"><enum>405.</enum><header>Report</header><text display-inline="no-display-inline">Not later than July 1, 2008, the Commission
shall transmit a report to the President and to each House of Congress. The
report shall contain a detailed statement of the findings and conclusions of
the Commission, together with its recommendations for such legislative or
administrative actions as it considers appropriate. No finding, conclusion, or
recommendation may be made by the Commission unless approved by a majority of
those voting, a quorum being present. At the request of any Commission member,
the report shall include that member’s dissenting findings, conclusions, or
recommendations.</text>
</section><section id="IDDFD2804EDAA74FED80FBBD5B50B92508"><enum>406.</enum><header>Termination</header><text display-inline="no-display-inline">The Commission shall terminate 30 days after
the date of transmission of the report required in section 405.</text>
</section><section commented="no" display-inline="no-display-inline" id="ID6FAB854EDF87455BA569C26CBF53E1ED" section-type="subsequent-section"><enum>407.</enum><header>Funding</header><text display-inline="no-display-inline">There are authorized to be appropriated not
more than $1,000,000 to carry out this title. Sums so appropriated shall remain
available until expended.</text>
</section><enum>V</enum><header>Reserve fund for
emergencies</header>
<section id="LEXA-Repairid1D064AF5267246B0B2C2EA35F3F37862">
<legis-comment display="yes">see title II of H.R. 853, 106th
Cong.</legis-comment>
</section><section id="idE6FF87738E5045E59BB883AA87B0E312"><enum>501.</enum><header>Purpose</header><text display-inline="no-display-inline">The purposes of this title are to—</text>
<paragraph id="ID0c1c9fff970a42628084ab6523a54e34"><enum>(1)</enum><text>develop budgetary
and fiscal procedures for emergencies;</text>
</paragraph><paragraph id="ID8316fd3a10ee4dc3b5f897e5682d0da0"><enum>(2)</enum><text>subject spending
for emergencies to budgetary procedures and controls; and</text>
</paragraph><paragraph id="ID74254b974b6e4a789878a387263c54d2"><enum>(3)</enum><text>establish
criteria for determining compliance with emergency requirements.</text>
</paragraph></section><section id="ID80b263090e6542fd8a2ad4fd1d5ca631"><enum>502.</enum><header>Repeal of
Adjustments for Emergencies</header>
<subsection id="ID1a3f78d37a8e49c18e68c9eb76217708"><enum>(a)</enum><header>Discretionary
spending limits</header><paragraph commented="no" display-inline="yes-display-inline" id="idAE9EC8267C354536AC22DE56B071598D"><enum>(1)</enum><text>Section 251(b)(2)(A) of
the Balanced Budget and Emergency Deficit Control Act of 1985 is
repealed.</text>
</paragraph><paragraph id="IDd212395d9e1c400abc15e56e11b33677" indent="up1"><enum>(2)</enum><text>Such section 251(b)(2) is further
amended by redesignating subparagraphs (B) through (G) as subparagraphs (A)
through (F).</text>
</paragraph></subsection><subsection id="IDa157afc91add42d0a87e852cd58c9b87"><enum>(b)</enum><header>Direct
spending</header><text>Sections 252(e) and 252(d)(4)(B) of the Balanced Budget
and Emergency Deficit Control Act of 1985 are repealed.</text>
</subsection><subsection id="ID19a66cc78b704c9a8d48d0c75ea2cba4"><enum>(c)</enum><header>Emergency
designation</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><subsection id="ID7aba161f03f846a0a38337e33d2097ed"><enum>(d)</enum><header>Amount of
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 (6) as paragraphs (1) through (5), respectively.</text>
</subsection></section><section id="ID38a4aa581a334c17a66a98e0cc7df199"><enum>503.</enum><header>OMB emergency
criteria</header><text display-inline="no-display-inline">Section 3 of the
Congressional Budget and Impoundment Control Act of 1974 is further amended by
adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id1316C54167594FCF8152B0EBA78BBC84" style="OLC">
<paragraph id="IDc621cdf5cb7e4affa440736179bec4dd"><enum>(12)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="idBAD8E0BABA4F404B80425193451655CE"><enum>(A)</enum><text>The term
<term>emergency</term> means a situation that—</text>
<clause id="IDba8697751eb84b9aacab35e8729a063e"><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="ID88dfc7577a464f0e84df574f090bb06b"><enum>(ii)</enum><text>is
unanticipated.</text>
</clause></subparagraph><subparagraph id="ID29e77b811a044ef1922f87176775f43d"><enum>(B)</enum><text>As used in
subparagraph (A), the term <quote>unanticipated</quote> means that the
situation is—</text>
<clause id="ID3dd0680649e34770b0ce7ceaea8df77f"><enum>(i)</enum><text>sudden, which
means quickly coming into being or not building up over time;</text>
</clause><clause id="ID70b5b3b26ad442dc8d116f10c7c29f3b"><enum>(ii)</enum><text>urgent, which
means a pressing and compelling need requiring immediate action;</text>
</clause><clause id="ID9166388c7d654386ae2ff791457008cd"><enum>(iii)</enum><text>unforeseen,
which means not predicted or anticipated as an emerging need; and</text>
</clause><clause id="ID7d04ab3d64de432d994339d0816cbda3"><enum>(iv)</enum><text>temporary, which
means not of a permanent
duration.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID1ce704415fa64df9a693e8bd15cc0d50"><enum>504.</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="IDcd8c6f384f154ca89002e864aa65ba75"><enum>505.</enum><header>Reserve fund
for emergencies in President's budget</header><text display-inline="no-display-inline">Section 1105(f) 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 section 317(b) 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="id7D80134ADB5644CC9C7FFF8A66140D98"><enum>506.</enum><header>Adjustments
and reserve fund for emergencies in budget resolutions</header>
<subsection id="ID0c315d887b1c4451ab658679f918698d"><enum>(a)</enum><header>Emergencies</header><text>Title
III of the Congressional Budget Act of 1974 is further amended by adding at the
end the following new section:</text>
<quoted-block display-inline="no-display-inline" id="idCA19C7A5F5EA40B1814BEEDC44BEA282" style="traditional">
<section id="idCE3440D730C84A0FB952998510C45C65"><enum>317.</enum><header>Emergencies</header><subsection commented="no" display-inline="yes-display-inline" id="id1A836FBA616344129FE559FBA06EC0E3"><enum>(a)</enum><header>Adjustments</header>
<paragraph id="IDa8b3315433274587bf6a991f0ceea530"><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)—</text>
<subparagraph id="ID46fb7d335b2a4752855633a3319d9ab1"><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 504 of
the SAFE Budget Process Reform 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="ID16b2ab5e163942e8a1708fb64fa6a523"><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="ID759c0d9af0544eac8873bff260d46ed9"><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 concurrent 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="ID00e26656ca9e4f199ac671a90415e7a7"><enum>(b)</enum><header>Reserve fund
for emergencies</header>
<paragraph id="ID11a98d04578a4f70bcb2250903ac5578"><enum>(1)</enum><header>Amounts</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>
<subparagraph id="IDee8e9b54713c420a91c5ab502168615d"><enum>(A)</enum><text>the average of
the enacted levels of budget authority for emergencies in the 5 fiscal years
preceding the current year; and</text>
</subparagraph><subparagraph id="IDb34561f440884926aa13c9e862098ef7"><enum>(B)</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 subparagraph (A),
but only in the fiscal year for which such budget authority first becomes
available for obligation.</text>
</subparagraph></paragraph><paragraph id="ID4a35a57636b4480cbafd62c10e951d5e"><enum>(2)</enum><header>Average
levels</header><text>For purposes of paragraph (1), the amount used for a
fiscal year to calculate the average of the enacted levels when one or more of
such 5 preceding fiscal years is any of fiscal years 2002 through 2006 is as
follows: the amount of enacted levels of budget authority and the amount of new
outlays flowing therefrom for emergencies, but only in the fiscal year for
which such budget authority first becomes available for obligation for each of
such 5 fiscal years, which shall be determined by the Committees on the Budget
of the Senate and the House of Representatives after receipt of a report on
such matter transmitted to such committees by the Director of the Congressional
Budget Office 6 months after the date of enactment of this section and
thereafter in February of each calendar year.</text>
</paragraph><paragraph id="ID575f9c4ee97540bd9a84475196f0528e"><enum>(3)</enum><header>Special rule
for overseas contingency operations</header>
<subparagraph id="ID5c75ea20397c4118ad543a721bc35df4"><enum>(A)</enum><header>In
general</header><text>This paragraph shall apply in lieu of paragraph (1) in
the case of a bill or joint resolution reported by the Committee on
Appropriations 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).</text>
</subparagraph><subparagraph id="ID114229eab45a4a8db74f12607ab69b8a"><enum>(B)</enum><header>Amounts</header><text>The
amount set forth in the reserve fund for operations described in subparagraph
(A) for budget authority and outlays for a fiscal year pursuant to section
301(a)(4) shall equal the amount requested for such operations by the budget
submission required by section 1105 of title 31 for that fiscal year.</text>
</subparagraph></paragraph></subsection><subsection id="IDc8db528bc3144e3ea01a74cedf8037b8"><enum>(c)</enum><header>Emergencies in
excess of amounts in reserve fund</header>
<paragraph id="id3A5B1AA8C95241B09BC778EA520E95F0"><enum>(1)</enum><header>In
general</header><text>A bill or joint resolution reported by the Committee on
Appropriations or any other committee that provides budget authority for any
emergency and is accompanied by a report, pursuant to subsection (d), that
identifies any provision that increases outlays or provides budget authority
(and the outlays flowing therefrom) for such emergency shall be subject to
paragraph (2) if the enactment of the bill or joint resolution which would
cause—</text>
<subparagraph id="IDd8af8eee89604a6bacf5ef45f9f32703"><enum>(A)</enum><text>in the case of
the Committee on Appropriations, the total amount of budget authority or
outlays provided for emergencies for the budget year in the concurrent
resolution on the budget (pursuant to section 301(a)(4)) to be exceeded;
or</text>
</subparagraph><subparagraph id="ID595b0ae86a274439a9f8be3cc5de2b4b"><enum>(B)</enum><text>in the case of
any other committee, the total amount of budget authority or outlays provided
for emergencies for the budget year or the total of the fiscal years in the
concurrent resolution on the budget (pursuant to section 301(a)(4)) to be
exceeded.</text>
</subparagraph></paragraph><paragraph id="IDf24e6bf2be4344d0b5fde98993454f30"><enum>(2)</enum><header>Conditions</header><text>The
conditions referred to in paragraph (1) are as follows:</text>
<subparagraph id="idB3694551E6B044C38CBC59BE80EA1CC8"><enum>(A)</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 subparagraph (B), within 5 legislative
days of the day in which it is reported from the originating committee. If the
Committee on the Budget of either House fails to report a bill or joint
resolution referred to it under this subparagraph within such 5-day period, the
committee shall be automatically discharged from further consideration of such
bill or joint resolution and such bill or joint resolution shall be placed on
the appropriate calendar.</text>
</subparagraph><subparagraph id="IDe69cd3d395a04ab7a6b2c4723ef1e550"><enum>(B)</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 or 252 (as applicable) of the Balanced
Budget and Emergency Deficit Control Act of 1985 of all or any part of the
provisions that provide budget authority (and the outlays flowing therefrom)
for such emergency if the committee determines, pursuant to the guidelines
referred to in section 504 of the SAFE Budget Process Reform Act of 2007, that
such budget authority is for an emergency within the meaning of section
3(12).</text>
</subparagraph><subparagraph id="ID7846ecb0882f4ca4841f1a48ab0b4666"><enum>(C)</enum><text>If such a bill or
joint resolution is reported with an amendment specified in subparagraph (B) by
the Committee on the Budget of the Senate or the House of Representatives, 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>
</subparagraph></paragraph></subsection><subsection id="IDfcfe5510dc9a43d9a25ecfac2ae2c640"><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
504 of the SAFE Budget Process Reform Act of
2007.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID0c59c8e5659d4ed6a1d9bb6e7b934d87"><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 316 the following new item:</text>
<quoted-block display-inline="no-display-inline" id="id773E2A54D4F24C388160D38B8BF27A0E" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 317.
Emergencies.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID5f0f30575ba54a7cb6e88af467a8140c"><enum>507.</enum><header>Application of
section 306 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
317(c) may be amended.</quote>.</text>
</section><section id="ID7ff303952f444ebf8982f15c09d7f059"><enum>508.</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 display-inline="no-display-inline" id="idDD2E88A2B542483EBF4366C59E0E3FF3" style="OLC">
<subparagraph id="ID287ec90e874047ac80fbd1b0badc8094"><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="IDeeb680b81e2b4202b949338a3238ebd8"><enum>509.</enum><header>Prohibition on
amendments to emergency reserve fund</header>
<subsection id="ID14acf3b6637a41849a742afac920d0bb"><enum>(a)</enum><header>Point of
order</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 display-inline="no-display-inline" id="idE3A64EA8D0914DDC8E0C654D98565DC3" style="OLC">
<subsection id="ID381094f838f64a06a2d4606b9bbe1e14"><enum>(e)</enum><header>Point of order
regarding emergency reserve fund</header><text>It shall not be in order in the
Senate or in the House of Representatives to consider an amendment to a
concurrent 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="IDc9983955a7d541289599cf0a0b70f4bd"><enum>(b)</enum><header>Technical
amendment</header><paragraph commented="no" display-inline="yes-display-inline" id="idEAB97316F36B4487B36F188237E9AA15"><enum>(1)</enum><text>Section 904(c)(1) of
the Congressional Budget Act of 1974 is amended by inserting
<quote>305(e),</quote> after <quote>305(c)(4),</quote>.</text>
</paragraph><paragraph id="ID097ced83aeb94fecaff3969c10bce8de" indent="up1"><enum>(2)</enum><text>Section 904(d)(2) of the
Congressional Budget Act of 1974 is amended by inserting <quote>305(e),</quote>
after <quote>305(c)(4),</quote>.</text>
</paragraph></subsection></section><section id="IDb3d7a451951647fc9ace6a289d89e2bf"><enum>510.</enum><header>Effective
date</header><text display-inline="no-display-inline">The amendments made by
this title shall apply to fiscal year 2008 and subsequent fiscal years, but
such amendments shall take effect only after the enactment of legislation
changing or extending for any fiscal year the discretionary spending limits set
forth in section 251 of the Balanced Budget and Emergency Deficit Control Act
of 1985 or legislation reducing the amount of any sequestration under section
252 of such Act by the amount of any reserve for any emergencies.</text>
</section>