Temporary Debt Limit Extension Act Public Law 113–83 Temporary Debt Limit Extension Act 83 113–83 Statute Compilation United States House of Representatives Office of the Legislative Counsel text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. GPO Statute Compilations USLM converter, version 20210527.1 2021-10-15 Temporary Debt Limit Extension Act 10858 113 2014-02-15 Temporary Debt Limit Extension Act [(Public Law 113–83)] [This law has not been amended] [Currency: This publication is a compilation of the text of Public Law 113-83. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/] [Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
AN ACTTo temporarily extend the public debt limit, and for other purposes.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. [31 U.S.C. 3101] SHORT TITLE. This Act may be cited as the “Temporary Debt Limit Extension Act”.
SEC. 2. TEMPORARY EXTENSION OF PUBLIC DEBT LIMIT. (a) In General.—Section 3101(b) of title 31, United States Code, shall not apply for the period beginning on the date of the enactment of this Act and ending on March 15, 2015. (b) Special Rule Relating to Obligations Issued During Extension Period.—Effective March 16, 2015, the limitation in effect under section 3101(b) of title 31, United States Code, shall be increased to the extent that— (1) the face amount of obligations issued under chapter 31 of such title and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) outstanding on March 16, 2015, exceeds (2) the face amount of such obligations outstanding on the date of the enactment of this Act.
SEC. 3. RESTORING CONGRESSIONAL AUTHORITY OVER THE NATIONAL DEBT. (a) Extension Limited to Necessary Obligations.—An obligation shall not be taken into account under section 2(b)(1) unless the issuance of such obligation was necessary to fund a commitment incurred pursuant to law by the Federal Government that required payment before March 16, 2015. (b) Prohibition on Creation of Cash Reserve During Extension Period.—The Secretary of the Treasury shall not issue obligations during the period specified in section 2(a) for the purpose of increasing the cash balance above normal operating balances in anticipation of the expiration of such period.