Sec. 9. Effective date contingent on certification of deficit neutrality
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The purpose of this section is to ensure that— this Act will become effective only if the Director of the Office of Management and Budget certifies that this Act is deficit neutral; discretionary spending limits are reduced to capture the savings realized in devolving transportation functions to the State level pursuant to this Act; and the tax reduction made by this Act is not scored under pay-as-you-go and does not inadvertently trigger a sequestration. Notwithstanding any other provision of this Act, this Act and the amendments made by this Act shall take effect only if— the Director of the Office of Management and Budget (referred to in this section as the Director ) submits the report as required in subsection (c); and the report contains a certification by the Director that, based on the required estimates, the reduction in discretionary outlays resulting from the reduction in contract authority is at least as great as the reduction in revenues for each fiscal year through fiscal year 2019.
Not later than 5 calendar days after the date of enactment of this Act, the Director shall— estimate the net change in revenues resulting from this Act for each fiscal year through fiscal year 2019; estimate the net change in discretionary outlays resulting from the reduction in contract authority under this Act for each fiscal year through fiscal year 2019; determine, based on those estimates, whether the reduction in discretionary outlays is at least as great as the reduction in revenues for each fiscal year through fiscal year 2019; and submit to Congress a report setting forth the estimates and determination.
The revenue estimates required under paragraph (1)(A) shall be predicated on the same economic and technical assumptions and score keeping guidelines that would be used for estimates made pursuant to section 252(d) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 902(d)). The outlay estimates required under paragraph (1)(B) shall be determined by comparing the level of discretionary outlays resulting from this Act with the corresponding level of discretionary outlays projected in the baseline under section 257 of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 907 ).
On compliance with the requirements specified in subsection (b), the Director shall adjust the adjusted discretionary spending limits for each fiscal year through fiscal year 2019 under section 601(a)(2) of the Congressional Budget Act of 1974 (2 U.S.C. 665(a)(2)) by the estimated reductions in discretionary outlays under subsection (c)(1)(B). On compliance with the requirements specified in subsection (b), no changes in revenues estimated to result from the enactment of this Act shall be counted for the purposes of section 252(d) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 902(d) ).
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- 2 USC 665(a)(2)
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Sec. 9
Effective date contingent on certification of deficit neutrality
Cite2 USC 665(a)(2)
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