[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 233 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 233

To amend chapter 31 of title 31, United States Code, to provide for an 
        orderly process by which the debt ceiling is increased.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 14, 2013

  Mr. Honda introduced the following bill; which was referred to the 
Committee on Ways and Means, and in addition to the Committee on Rules, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of 
                        the committee concerned

_______________________________________________________________________

                                 A BILL


 
To amend chapter 31 of title 31, United States Code, to provide for an 
        orderly process by which the debt ceiling is increased.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF PRESIDENTIAL MODIFICATION OF THE DEBT CEILING.

    (a) In General.--Chapter 31 of title 31, United States Code, is 
amended by inserting after section 3101A the following new section:
``Sec. 3101B. Extension of presidential modification of the debt 
              ceiling
    ``(a) Extension of Debt Limit.--Whenever the President submits a 
written certification to Congress that the President has determined 
that the debt subject to limit is within $100,000,000,000 of the limit 
in section 3101(b) and that further borrowing is required to meet 
existing commitments, the Secretary of the Treasury may exercise 
authority to borrow an additional amount that the Secretary estimates 
is sufficient to meet commitments for one year, subject to the 
enactment of a joint resolution of disapproval enacted pursuant to this 
section. The written certification shall also contain the amount that 
the Secretary so estimates is sufficient.
    ``(b) Joint Resolution of Disapproval.--
            ``(1) In general.--The debt limit may not be raised under 
        this section if, within 50 calendar days after the date on 
        which Congress receives a certification described in subsection 
        (a), there is enacted into law a joint resolution disapproving 
        the President's exercise of authority with respect to such 
        additional amount.
            ``(2) Contents of joint resolution.--For the purpose of 
        this section, the term `joint resolution' means only a joint 
        resolution--
                    ``(A) for the certification described in subsection 
                (a);
                    ``(B) which does not have a preamble;
                    ``(C) the title of which is only as follows: `Joint 
                resolution relating to the disapproval of the 
                President's exercise of authority to increase the debt 
                limit by $________, as submitted under section 3101B of 
                title 31, United States Code, on ______' (with the 
                first blank containing the amount of such proposed 
                increase and the second blank containing the date of 
                such submission); and
                    ``(D) the matter after the resolving clause of 
                which is only as follows: `That Congress disapproves of 
                the President's exercise of authority to increase the 
                debt limit, as exercised pursuant to the certification 
                under section 3101B(a) of title 31, United States 
                Code.'.
    ``(c) Expedited Consideration; Amendment Not in Order; Coordination 
With Action by Other House.--The provisions of subsections (c), (d), 
(e), and (f) of section 3101A shall apply to any joint resolution of 
disapproval under this section, except that--
            ``(1) the date set forth in section (d)(3) of such section;
            ``(2) the exception for the $400,000,000,000 increase 
        described in subsection (f)(5) of such section; and
            ``(3) subsection (f)(6);
shall be inapplicable.''.
    (b) Rules of the House of Representatives and Senate.--Section 
3101A(g) is amended by inserting ``and subsections (b) and (c) of 
section 3101B'' before ``are enacted by Congress''.
    (c) Conforming Amendment.--The table of sections for chapter 31 of 
title 31, United States Code, is amended by inserting after the item 
relating to section 3101A the following new item:

``3101B. Extension of presidential modification of the debt ceiling.''.
                                 <all>