Sec. 202. Contents of concurrent resolution on the budget

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The section heading of section 301 of the Congressional Budget Act of 1974 ( 2 U.S.C. 632 ) is amended by striking and inserting Annual . Biennial Section 301(a) of the Congressional Budget Act of 1974 ( 2 U.S.C. 632(a) ) is amended— by striking the matter preceding paragraph

(1)and inserting the following: On or before May 15 of each odd-numbered year (or, if applicable under section 300(b), June 15 of an odd-numbered year), Congress shall complete action on a concurrent resolution on the budget for the biennium beginning on October 1 of such year. The concurrent resolution shall— ; by redesignating paragraphs

(1)through

(7)as subparagraphs

(A)through (G), respectively, and adjusting the margin accordingly; by inserting before subparagraph (A), as so redesignated, the following: for any concurrent resolution on the budget, set forth appropriate levels for each fiscal year in such biennium and for at least each fiscal year of each of the ensuing 2 bienniums for the following— ; in paragraph (1)(D), as so redesignated, by striking paragraph

(1)and inserting subparagraph

(A); in paragraph (1)(F), as so redesignated, by striking for the fiscal year and inserting for each fiscal year in the biennium ; in paragraph (1)(G), as so redesignated— by striking for the fiscal year and inserting for each fiscal year in the biennium ; and by striking the period at the end and inserting a semicolon; and by inserting before the matter following paragraph (1)(G), as so redesignated, the following: for any concurrent resolution on the budget, include, in accordance with section 316, a clear statement of the appropriate level for the debt subject to limit under section 3101 of title 31, United States Code, as of the end of the second fiscal year of the biennium of the concurrent resolution on the budget; . Section 3 of the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 622 ), as amended by section 201, is further amended by adding at the end the following: The term bipartisan budget resolution means a concurrent resolution on the budget for a biennium that— meets the requirements under section 301; and is ordered reported to the Senate by the Committee on Fiscal Control and the Budget of the Senate by an affirmative vote of not less than half of the Senators that are members of the majority party in the Senate and not less than half of the Senators that are members of the minority party in the Senate. . Section 301(a) of the Congressional Budget Act of 1974 ( 2 U.S.C. 632(a) ) is amended by inserting after paragraph (2), as added by subsection

(b)of this section, the following: for a bipartisan budget resolution, include— in accordance with section 316, a clear statement of the appropriate level for the discretionary spending limit for each fiscal year of the biennium of the concurrent resolution on the budget; the amount of health care spending by the Government; the amount of tax expenditures; the amount of discretionary appropriations (as defined in section 250 of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 900 )); and the amount of revenues; . Section 305 of the Congressional Budget Act of 1974 ( 2 U.S.C. 636 ) is amended by adding at the end the following: Subject to subparagraph (B), in the Senate, upon the agreement of the majority leader and the minority leader, additional procedures to expedite consideration of a bipartisan budget resolution shall apply to consideration of the bipartisan budget resolution. The majority leader shall submit a written statement for the Congressional Record reflecting any agreement described in this paragraph. An agreement described in this paragraph— may include limiting the number of amendments upon which the Senate shall vote; and may not include the waiver of any points of order. In the Senate, a bipartisan budget resolution shall only be agreed to— if it complies with section 3(13)(A); and upon the affirmative vote of not less than— three-fifths of the Members, duly chosen and sworn; and 15 Members that are members of the minority party in the Senate. If a bipartisan budget resolution is not agreed to in accordance with subparagraph (A), the Senate shall be deemed to have agreed to a motion to recommit the bipartisan budget resolution to the Committee on Fiscal Control and the Budget. In the Senate, a conference report or an amendment between the Houses on a bipartisan budget resolution shall only be agreed to— if it complies with section 3(13)(A); and upon the affirmative vote of not less than— three-fifths of the Members, duly chosen and sworn; and 15 Members that are members of the minority party in the Senate. If a conference report or an amendment between the Houses on a bipartisan budget resolution is not agreed to in accordance with subparagraph (A), a motion to reconsider the conference report or amendment between the Houses is in order in accordance with rule XIII of the Standing Rules of the Senate. . Section 310(e)(2) of the Congressional Budget Act of 1974 ( 2 U.S.C. 641(e)(2) ) is amended— by inserting

(A)before Debate ; and by adding at the end the following: In the Senate, a reconciliation bill reported under subsection

(b)pursuant to reconciliation instructions in a bipartisan budget resolution, a House amendment thereto, and a conference report thereon shall be agreed to only upon the affirmative vote of not less than— a majority of the Members voting, a quorum being present; and 15 Members that are members of the minority party in the Senate. . Title III of the Congressional Budget Act of 1974 ( 2 U.S.C. 631 et seq.) is amended by adding at the end the following: In this section, the term covered concurrent resolution on the budget — means a concurrent resolution on the budget for a biennium adopted under section 301 that contains text in the form specified under subsection

(b)of this section applicable to the type of concurrent resolution on the budget; and does not include a concurrent resolution on the budget described in section 304. For a concurrent resolution on the budget that is not a bipartisan budget resolution, the form specified in this subsection is that, other than any short title, the first section of the concurrent resolution on the budget shall consist of only the following: For purposes of section 316(c) of the Congressional Budget Act of 1974, Congress specifies that section 3101(b) of title 31, United States Code, shall be amended by striking the dollar amount and inserting , the blank space being filled in with the appropriate level for the debt subject to limit under section 3101 of title 31, United States Code. $______ . For a concurrent resolution on the budget that is a bipartisan budget resolution, the form specified in this subsection is that, other than any short title, the first section of the concurrent resolution on the budget shall consist of only the following: For purposes of section 316(c) of the Congressional Budget Act of 1974, Congress specifies the following: Section 3101(b) of title 31, United States Code, shall be amended by striking the dollar amount and inserting $_______ . Section 251(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 901(c) ) shall be amended by inserting after paragraph (_) the following: for fiscal year ___, for the discretionary category, $________ in new budget authority; and for fiscal year ___, for the discretionary category, $________ in new budget authority; . The blank spaces in paragraphs

(1)and

(2)of such section, as described in subparagraph

(A)of this paragraph, shall be filled in as follows: The first blank being filled in with the appropriate level for the debt subject to limit under section 3101 of title 31, United States Code. The second blank being filled in with the number of the paragraph establishing the discretionary spending limit for the last fiscal year for which the discretionary spending limits are in effect under section 251(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 901(c) ). The third and sixth blanks being filled in with the paragraph numbers following the paragraph number specified in the second blank. The fourth and seventh blanks being filled in with the fiscal years for which the level of the discretionary spending limits are being specified under the concurrent resolution on the budget. The fifth and eighth blanks being filled in with the amount of the discretionary spending limit for the discretionary category for the fiscal years described in the fourth and seventh blanks, respectively, being specified under the concurrent resolution on the budget. Upon adoption by Congress of a covered concurrent resolution on the budget, the Secretary of the Senate shall prepare an engrossment of a joint resolution consistent with the text included in the covered concurrent resolution on the budget in the form specified under subsection (b). Upon engrossment of a joint resolution under paragraph (1), the vote by which the covered concurrent resolution on the budget was finally agreed to in the Senate shall also be considered as a vote on passage of the joint resolution in the Senate, and the joint resolution shall be considered as passed by the Senate and duly certified and examined. The engrossed copy shall be signed by the Secretary of the Senate and transmitted to the House of Representatives. Upon receipt of the engrossed copy of a joint resolution under paragraph (2), the vote by which the covered concurrent resolution on the budget was finally agreed to in the House of Representatives shall also be considered as a vote on passage of the joint resolution in the House of Representatives, and the joint resolution shall be considered as passed by the House of Representatives and duly certified and examined. The Clerk of the House of Representatives shall transmit the joint resolution to be enrolled. Upon receipt of a joint resolution under paragraph (3), the Enrolling Clerk of the Senate shall enroll the joint resolution. If the President vetoes a joint resolution enrolled under paragraph (4), in the Senate there shall be not more than 1 hour of debate on the veto message, equally divided between the majority and minority leaders or their designees. . In this paragraph, the term bipartisan budget resolution has the meaning given that term in paragraph

(13)of section 3 of the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 622 ), as added by this Act. If a bipartisan budget resolution is adopted by the Senate and House of Representatives, a motion to proceed to the consideration of an appropriation Act referred to in section 105 of title 1, United States Code, making appropriations for either fiscal year of the biennium of the bipartisan budget resolution (which shall not include a bill or joint resolution making supplemental appropriations for such a fiscal year) or a bill or joint resolution making continuing appropriations for such a fiscal year shall not be debatable. If a bipartisan budget resolution is adopted by the Senate and House of Representatives, with respect to any fiscal year covered by the bipartisan budget resolution, the Chairman of the Committee on Fiscal Control and the Budget may determine that a point of order does not lie under the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 621 et seq.) for a violation for which the absolute value of the violation is less than $500,000. Section 301(a) of the Congressional Budget Act of 1974 ( 2 U.S.C. 632(a) ), is amended— in paragraph (1), as so designated by subsection

(b)of this section— in subparagraph (D), by inserting for direct spending (as defined in section 250 of the Balanced Budget and Emergency Deficit Control Act of 1985 ( before 2 U.S.C. 900 )), new budget authority ; in subparagraph (E), by striking the public debt and inserting the debt held by the public and debt subject to limit under section 3101 of title 31, United States Code ; in subparagraph (F), by striking and at the end; and by inserting after subparagraph

(G)the following: the allocated amount of discretionary appropriations; and the unallocated amount of discretionary appropriations; ; and by inserting after paragraph (3), as added by subsection

(c)of this section, the following: for any concurrent resolution on the budget, specify the amount of the gross domestic product of the United States assumed for purposes of each fiscal year covered by the concurrent resolution; and for any concurrent resolution on the budget, specify a target for the ratio of the debt held by the public to the gross domestic product of the United States (rounded to the nearest one-tenth of 1 percent) for each fiscal year covered by the concurrent resolution. . The table of contents in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended— by striking the item relating to section 301 and inserting the following: Sec. 301. Biennial adoption of concurrent resolution on the budget. ; and by inserting after the item relating to section 315 the following: Sec. 316. Automatic adjustment of debt limit and statutory caps. .

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Sec. 202

Contents of concurrent resolution on the budget

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