II Calendar No. 411 111th CONGRESS 2d Session S. 3421 IN THE SENATE OF THE UNITED STATES May 25, 2010 Mr. Grassley introduced the following bill; which was read the first time May 26, 2010 Read the second time and placed on the calendar A BILL To provide a temporary extension of certain programs, and for other purposes.

1.

Short title

This Act may be cited as the Protecting Against Indebting our Descendants through Fully Offset Relief (PAID FOR) Temporary Extension Act of 2010.

2.

Extension of unemployment insurance provisions

(a)

In general

(1)Section 4007 of the Supplemental Appropriations Act, 2008 (Public Law 110–252; 26 U.S.C. 3304 note) is amended— (A)by striking June 2, 2010 each place it appears and inserting July 7, 2010; (B)in the heading for subsection (b)(2), by striking june 2, 2010 and inserting july 7, 2010; and (C)in subsection (b)(3), by striking November 6, 2010 and inserting December 11, 2010. (2)Section 2002(e) of the Assistance for Unemployed Workers and Struggling Families Act, as contained in Public Law 111–5 (26 U.S.C. 3304 note; 123 Stat. 438), is amended— (A)in paragraph (1)(B), by striking June 2, 2010 and inserting July 7, 2010; (B)in the heading for paragraph (2), by striking june 2, 2010 and inserting july 7, 2010; and (C)in paragraph (3), by striking December 7, 2010 and inserting January 11, 2011. (3)Section 2005 of the Assistance for Unemployed Workers and Struggling Families Act, as contained in Public Law 111–5 (26 U.S.C. 3304 note; 123 Stat. 444), is amended— (A)by striking June 2, 2010 each place it appears and inserting July 7, 2010; and (B)in subsection (c), by striking November 6, 2010 and inserting December 11, 2010. (4)Section 5 of the Unemployment Compensation Extension Act of 2008 (Public Law 110–449; 26 U.S.C. 3304 note) is amended by striking November 6, 2010 and inserting December 11, 2010. (b)

Funding

Section 4004(e)(1) of the Supplemental Appropriations Act, 2008 (Public Law 110–252; 26 U.S.C. 3304 note) is amended— (1)in subparagraph (D), by striking and at the end; and (2)by inserting after subparagraph (E) the following: (F)the amendments made by section 2(a)(1) of the Protecting Against Indebting our Descendants through Fully Offset Relief (PAID FOR) Temporary Extension Act of 2010; and . (c)

Effective date

The amendments made by this section shall take effect as if included in the enactment of the Continuing Extension Act of 2010 (Public Law 111–157).

3.

Extension and improvement of premium assistance for COBRA benefits

(a)

Extension of eligibility period

Subsection (a)(3)(A) of section 3001 of division B of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5), as amended by section 3(a) of the Continuing Extension Act of 2010 (Public Law 111–157), is amended by striking May 31, 2010 and inserting June 30, 2010. (b)

Effective date

The amendment made by this section shall take effect as if included in the provisions of section 3001 of division B of the American Recovery and Reinvestment Act of 2009.

4.

Increase in the Medicare physician payment update

Paragraph (10) of section 1848(d) of the Social Security Act, as added by section 1011(a) of the Department of Defense Appropriations Act, 2010 (Public Law 111–118) and as amended by section 5 of the Temporary Extension Act of 2010 (Public Law 111–144) and section 4 of the Continuing Extension Act of 2010 (Public Law 111–157), is amended— (1)in subparagraph (A), by striking May 31, 2010 and inserting June 30, 2010; and (2)in subparagraph (B), by striking June 1, 2010 and inserting July 1, 2010.

5.

Extension of use of 2009 poverty guidelines

Section 1012 of the Department of Defense Appropriations Act, 2010 (Public Law 111–118), as amended by section 6 of the Continuing Extension Act of 2010 (Public Law 111–157), is amended by striking May 31, 2010 and inserting June 30, 2010.

6.

Extension of national flood insurance program

(a)

Extension

Section 129 of the Continuing Appropriations Resolution, 2010 (Public Law 111–68), as amended by section 7 of the Continuing Extension Act of 2010 (Public Law 111–157), is amended by striking by substituting and all that follows through the period at the end and inserting by substituting June 30, 2010, for the date specified in each such section.. (b)

Effective date

The amendments made by subsection (a) shall be considered to have taken effect on February 28, 2010.

7.

Extension of small business loan guarantee program

(a)

Appropriation

There is appropriated, out of any funds in the Treasury not otherwise appropriated, $60,000,000, for an additional amount for Small Business Administration—Business Loans Program Account, to remain available until expended, for the cost of fee reductions and eliminations under section 501 of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 151) and loan guarantees under section 502 of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 152), as amended by this section: Provided, That such costs shall be as defined in section 502 of the Congressional Budget Act of 1974. (b)

Extension of sunset date

Section 502(f) of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 153) is amended by striking May 31, 2010 and inserting June 30, 2010.

8.

Use of stimulus funds to offset spending

The unobligated balance of each amount appropriated or made available under the American Recovery and Reinvestment Act of 2009 (Public Law 111–5) (other than under title X of division A of such Act) is rescinded pro rata such that the aggregate amount of such rescissions equals $13,000,000,000 in order to offset the net increase in spending resulting from the provisions of, and amendments made by, sections 2 through 7. The Director of the Office of Management and Budget shall report to each congressional committee the amounts so rescinded within the jurisdiction of such committee.

9.

Determination of budgetary effects

(a)

In general

The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled Budgetary Effects of PAYGO Legislation for this Act, submitted for printing in the Congressional Record by the Chairman of the Senate Budget Committee, provided that such statement has been submitted prior to the vote on passage. (b)

Emergency Designation for Congressional Enforcement

In the House of Representatives, this Act, with the exception of section 4, is designated as an emergency for purposes of pay-as-you-go principles. In the Senate, this Act is designated as an emergency requirement pursuant to section 403(a) of S. Con. Res. 13 (111th Congress), the concurrent resolution on the budget for fiscal year 2010. (c)

Emergency Designation for Statutory PAYGO

This Act, with the exception of section 4, is designated as an emergency requirement pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 (Public Law 111-139; 2 U.S.C. 933(g)).

May 26, 2010 Read the second time and placed on the calendar