Hearings, Reports and Prints of the House Committee on Rules

1 tion on a concurrent resolution setting forth the congressional

2 budget for the United States Government for the fiscal

3 year beginning on July 1 of that year.

(b) MATTERS REQUIRED TO BE SET FORTH IN CON

5 CURRENT RESOLUTION.-The concurrent resolution referred 6 to in subsection (a) shall set forth, for the fiscal year 7 concerned

(1) the overall limitation on budget outlays and

the overall limitation on new budget authority,

(2) the overall level of Federal revenues, and the overall level of the public debt of the United States, to be associated with the overall limitation on budget out

lays for the fiscal year,

(3) the amount of the surplus or the amount of the deficit in the budget which is appropriate in the light of economic conditions and such other factors as may be relevant,

(4) the amount of budget outlays, and the amount of new budget authority, allocated to each committee of the House and Senate for matters within the jurisdiction

of that committee, and

(5) with respect to budget outlays and with re

spect to new budget authority

(A) a general contingency reserve (for allocation only by a subsequent concurrent resolution

on the budget) for possible new legislation (includ

ing enlargements of existing programs and activi

ties); and

(B) an emergency reserve (in amounts which do not exceed 2 percent of the amount of budget outlays otherwise allocated to the Committees on Appropriations and 2 percent of the amount of new budget authority otherwise allocated to such committees) which shall be available only for allocation by the Committees on Appropriations to specific pro

grams and activities (or to subcommittees) to meet emergencies and other unforeseen contingencies.

13 The amount allocated under paragraph (4) to any committee shall be further subdivided in the concurrent resolution

15 either (A) on the basis of programs and activities within

16 the jurisdiction of that committee, or (B) among the subcommittees of that committee.

19 IN CONCURRENT RESOLUTION.-The concurrent resolution

20 referred to in subsection (a) may also

(1) direct that legislation be reported out raising or lowering the aggregate level of Federal revenues, raising or lowering the limit on the public debt, or both;

(2) provide the extent (if any) to which section

145 (relating to requirement that budget authority legislation contain limitations on outlays) shall apply for the fiscal year;

(3) provide limitations with respect to amounts guaranteed or insured during the fiscal year by the United States (or with respect to categories of such amounts) on loans by other persons; and

(4) contain such other matters relating to the budget as may be appropriate to carry out the purposes of this

Act.

(d) VIEWS AND RECOMMENDATIONS OF OTHER COMMITTEES.-Before March 1 of each year, the Committees on 13 Appropriations and Ways and Means of the House of Representatives shall submit their views and recommendations to

15 the Committee on the Budget of the House, the Committees 16 on Appropriations and Finance of the Senate shall submit 17 their views and recommendations to the Committee on the 18 Budget of the Senate, and the Joint Economic Committee 19 and the Joint Committee on Internal Revenue Taxation shall 20 submit their views and recommendations to the Committees

2220

on the Budget of the House and Senate, with respect to all

22 matters set forth in subsection (b) which relate to matters

23 within the respective jurisdictions or functions of such com24 mittees and joint committees.

(e) EFFECT OF FAILURE TO ADOPT CONCURRENT

2 RESOLUTION BY MAY 1.

(1) FIGURES IN PRESIDENT'S BUDGET TO BE USED.-If the Congress fails to complete action on the concurrent resolution on the budget referred to in subsection (a) on or before May 1 of any year, then, until such action is completed, the figures for the matters set forth in subsection (b) for the fiscal year shall be deemed to be the respective figures therefor (as determined by

the Legislative Budget Director) set forth in the budget submitted for the fiscal year pursuant to section 201 of the Budget and Accounting Act, 1921 (31 U.S.C. 11).

(2) USE OF BUDGET FIGURES FOR APPROPRIATION BILLS AND OTHER PURPOSES.-For any period for which paragraph (1) applies, in applying sections 122,

143, and 144, there shall be deemed to have been adopted a concurrent resolution on the budget referred to in this section which contains the figures referred to in paragraph (1).

20 SEC. 122. REVISION OF CONGRESSIONAL BUDGET.

Before the close of each session of Congress, the Congress

22 shall complete action on a concurrent resolution which reaf23 firms or revises the congressional budget for the United States

Government adopted pursuant to section 121 for the fiscal 25 year in which the close of such session falls.

22-871 O - 73 - 2

SEC. 123. TIMETABLE FOR FIRST CONCURRENT RESOLU

TION ON THE BUDGET FOR THE FISCAL YEAR.

(a) TIMETABLE.-The timetable with respect to the

4 concurrent resolution for any fiscal year referred to in section

Senate acts.

Congress acts.

(b) EFFECT OF CERTAIN ADJOURNMENTS.-When

ever after any March 15 the Senate is not in session because 8 of any adjournment or recess of more than 3 days to a 9 day certain, then in applying subsection (a) there shall be 10 substituted for March 29 and April 12 that date which fol11 lows March 29 or April 12 by the same number of days (not 12 exceeding 7 in the aggregate) as the number of days after 13 March 15 and before March 30, or after March 15 and be14 fore April 13, as the case may be, on which the Senate was not in session because of any such adjournment or recess. (c) EXTENSION WHERE SPECIFIED DATE FALLS ON 17 SATURDAY, SUNDAY, OR HOLIDAY.-When any date speci18 fied in subsection (a) (as modified by subsection (b)) falls

on a Saturday, Sunday, or legal holiday in the District of 20 Columbia in any year, there shall be substituted for that date

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