PART B BUDGET SUBMITTED BY SEC. 241. SUBMISSION OF PRESIDENT'S BUDGET; MAXIMUM DEFICIT AMOUNT (a) SUBMISSION OF PRESIDENT'S BUDGET. The first sentence of section 1105(a) of title 31, United States Code, is amended by striking out "During the first 15 days of each regular session of Congress" and inserting in lieu thereof the following: "On or before the first Monday after January 3 of each year (on or before February 5 in 1986)". - (b) MAXIMUM DEFICIT AMOUNT MAY NOT BE EXCEEDED. Section 1105 of title 31, United States Code, is amended by adding at the end thereof the following new subsection: "(f)(1) The budget transmitted pursuant to subsection (a) for a fiscal year shall be prepared on the basis of the best estimates then available, in such a manner as to ensure that the deficit for such fiscal year shall not exceed the maximum deficit amount for such fiscal year as determined under paragraph (7) of section 3 of the Congressional Budget and Impoundment Control Act of 1974. "(2) The deficit set forth in the budget so transmitted for any fiscal year shall not exceed the maximum deficit amount for such fiscal year as determined under paragraph (7) of section 3 of the Congressional Budget and Impoundment Control Act such levels as the President may consider most desirable and feasible. "(3) Paragraphs (1) and (2) shall not apply if a declaration of war by the Congress is in effect.". SEC. 242. SUPPLEMENTAL BUDGET ESTI MATES AND CHANGES. - The first sentence of (a) CHANGE IN DATE OF SUBMISSION. section 1106(b) of title 31, United States Code, is amended by striking out "April 11 and". (b) REVISIONS AND SUPPLEMENTAL SUMMARIES. -- Section 1106 of title 31 of such Code is further amended by adding at the end thereof the following new subsection: "(c) Subsection (f) of section 1105 shall apply to revisions and supplemental summaries submitted under this section to the same extent that such subsection applies to the budget submitted under section 1105(a) to which such revisions and summaries relate.". PART C EMERGENCY POWERS DEFICITS1056 IN EXCESS Sec. 250. Table of contents; budget enforcement statement; definitions. Sec. 252. Enforcing pay-as-you-go. 1056 Section 250(c)(1) (see infra p. 372) defines "deficit" at least in part by reference to the definition of section 3(6) of the Congressional Budget Act. See supra p. 16. 1057 Section 250(c)(1) of Gramm-Rudman-Hollings (see infra p. 372) defines "maximum deficit amount" by adopting the definition of section 601(a)(1) of the Congressional Budget Act (see supra p. 252) as adjusted under sections 251 and 253 of Gramm-RudmanHollings. See infra pp. 403-429, 457-473. 1058 Section 250(c)(2) defines "sequestration." See infra p. 372. 1059 Section 13101(a) of the Budget Enforcement Act added section 250 (see infra p. 617), with the exception of section 250(c)(21), which section 13101(b) of the Budget Enforcement Act transferred from section 257(12) of Gramm-Rudman-Hollings. See infra p. 617. 1060 Section 250(c)(1) of Gramm-Rudman-Hollings (see infra p. 372) defines "discretionary spending limit" by adopting the definition of section 601(a)(2) of the Congressional Budget Act (see supra pp. 254-256) as adjusted under sections 251 and 253 of Gramm |