[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3293 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 3293

                    To reform the public debt limit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 15, 2013

   Mr. Hastings of Florida introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
                    To reform the public debt limit.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Debt Limit Reform Act''.

SEC. 2. REFORM OF THE PUBLIC DEBT LIMIT.

    (a) Authority of President To Increase Public Debt Limit.--Section 
3101 of title 31, United States Code, is amended by adding at the end 
the following new subsection:
    ``(d) The dollar amount in effect under subsection (b) shall be 
increased at such times and in such amounts as the President of the 
United States, or his designee, may provide.''.
    (b) Government-Held Debt Not Taken Into Account for Purposes of the 
Public Debt Limit.--Section 3101 of title 31, United States Code, as 
amended by subsection (a) is amended by adding at the end the following 
new subsection:
    ``(e) Obligations held by the United States Government (including 
any obligation which is classified as an intragovernmental holding by 
the Secretary of the Treasury or which is held by any agency or 
instrumentality of the United States) shall not be taken into account 
for purposes of applying the limitation imposed under subsection 
(b).''.
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