[Congressional Record Volume 156, Number 80 (Tuesday, May 25, 2010)]
[Senate]
[Page S4222]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRASSLEY:
  S. 3421. A bill to provide a temporary extension of certain programs, 
and for other purposes; read the first time.
  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 3421

       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 ``Protecting Against Indebting 
     our Descendants through Fully Offset Relief (PAID FOR) 
     Temporary Extension Act of 2010''.

     SEC. 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).

     SEC. 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.

     SEC. 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''.

     SEC. 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''.

     SEC. 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.

     SEC. 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''.

     SEC. 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.

     SEC. 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)).
                                 ______