Sec. 601. Reports to the Committee on Fiscal Control and the Budget of the Senate and the Committee on the Budget of the House of Representatives
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Section 202(e) of the Congressional Budget Act of 1974 ( 2 U.S.C. 602(e) ) is amended— by striking paragraph
(2)and inserting the following: The Director shall from time to time, as may be necessary or appropriate to provide the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate with information, data, and analyses for the performance of their duties and functions, submit to such committees further reports, including reports— revising the report required under paragraph (1); analyzing the accuracy of the projections of the Office of economic factors, total outlays, revenues, surpluses or deficits, and debt; analyzing the accuracy of estimates, comparisons, or descriptions, or components thereof, that the Office prepared for legislation that has been enacted; and updating economic projections, including projections of the ratio of the debt held by the public to the gross domestic product of the United States. ; and by adding at the end the following: On or before December 20 of each year, the Director shall submit to the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate a report on— planned and recent transparency efforts, including proposals on making supporting documents covering methods and assumptions used in analyses and cost estimates publicly available; and the feasibility of placing interactive models online and releasing source code for computer programs used in its analysis. On or before January 15 of each year, the Director shall submit to the Committee on the Budget of the House of Representatives and the Committee on Fiscal Control and the Budget of the Senate 1 or more reports analyzing the accuracy of the projections of the Office of total outlays and revenues for the previous fiscal year. The Director shall, to the extent practicable, make public supplemental information for estimates provided by the Office— in the case of major legislation described in subparagraph (B)(i)(I), not later than 1 year after the date of enactment of that legislation; and in the case of major legislation described in subparagraph (B)(i)(II), at a date prescribed by the Chairman of the Committee on Fiscal Control and the Budget of the Senate or the Committee on the Budget of the House of Representatives. In this paragraph: The term major legislation means a bill, joint resolution, conference report, amendment, amendment between the Houses, or treaty considered in the Senate for which an estimate was prepared pursuant to section 402(a)— that— was enacted; and causes a gross budgetary effect (before incorporating macroeconomic effects and not including timing shifts) in a fiscal year in the period of years of the most recently agreed to concurrent resolution on the budget equal to or greater than— 0.25 percent of the current projected gross domestic product of the United States for that fiscal year; or for a treaty, equal to or greater than $15,000,000,000 for that fiscal year; or designated as such by the Chairman of the Committee on Fiscal Control and the Budget of the Senate or the Chairman of the Committee on the Budget of the House of Representatives. The term supplemental information — means the principal information used in estimating the costs and other fiscal or economic effects of major legislation; and includes key fiscal or policy models, assumptions, data preparation routines, and other similar information. . This amendments made by this section shall apply to estimates made on or after the date of enactment of this Act.
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Sec. 601
Reports to the Committee on Fiscal Control and the Budget of the Senate and the Committee on the Budget of the House of Representatives
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