Sec. 301. CBO and OMB review and recommendations respecting receipts and collections
146 words·~1 min read·
/bill/114/s/399/is/section-301A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 1 year after the date of enactment of this Act, the Director of the Office of Management and Budget shall prepare a study of the history of offsetting collections against expenditures and the amount of receipts collected annually, the historical application of the budgetary terms revenue , offsetting collections , and offsetting receipts , and review the application of those terms and make recommendations to the Committee on the Budget of the Senate and the Committee on the Budget of the House of Representatives of whether such usage should be continued or modified.
The Director of the Congressional Budget Office shall review the history and recommendations prepared by the Director of the Office of Management and Budget and shall submit comments and recommendations to the Committee on the Budget of the Senate and the Committee on the Budget of the House of Representatives.