Code · STATUTE-COMPILATIONS · Temporary Debt Limit Extension Act · Sec. 3

Sec. 3. RESTORING CONGRESSIONAL AUTHORITY OVER THE NATIONAL DEBT

102 words·~1 min read·/statute-compilations/comps-10858/sec-3

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## SEC. 3 RESTORING CONGRESSIONAL AUTHORITY OVER THE NATIONAL DEBT ###

(a)Extension Limited to Necessary Obligations An obligation shall not be taken into account under section 2(b)(1) unless the issuance of such obligation was necessary to fund a commitment incurred pursuant to law by the Federal Government that required payment before March 16, 2015. ###

(b)Prohibition on Creation of Cash Reserve During Extension Period The Secretary of the Treasury shall not issue obligations during the period specified in section 2(a) for the purpose of increasing the cash balance above normal operating balances in anticipation of the expiration of such period.