§ 3101. Public debt limit
6,882 words·~31 min read·
/usc/title-31/section-3101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In this section, the current redemption value of an obligation issued on a discount basis and redeemable before maturity at the option of its holder is deemed to be the face amount of the obligation.
(b)The face amount of obligations issued under this chapter and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) may not be more than $14,294,000,000,000, outstanding at one time, subject to changes periodically made in that amount as provided by law through the congressional budget process described in Rule XLIX 1 of the Rules of the House of Representatives or as provided by section 3101A or otherwise.
(c)For purposes of this section, the face amount, for any month, of any obligation issued on a discount basis that is not redeemable before maturity at the option of the holder of the obligation is an amount equal to the sum of—
(1)the original issue price of the obligation, plus
(2)the portion of the discount on the obligation attributable to periods before the beginning of such month (as determined under the principles of section 1272(a) of the Internal Revenue Code of 1986 without regard to any exceptions contained in paragraph
(2)of such section).
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 938; Pub. L. 98–34, § 1(a), May 26, 1983, 97 Stat. 196; Pub. L. 98–161, Nov. 21, 1983, 97 Stat. 1012; Pub. L. 98–342, § 1(a), July 6, 1984, 98 Stat. 313; Pub. L. 98–475, Oct. 13, 1984, 98 Stat. 2206; Pub. L. 99–177, § 1, Dec. 12, 1985, 99 Stat. 1037; Pub. L. 99–384, Aug. 21, 1986, 100 Stat. 818; Pub. L. 100–119, § 1, Sept. 29, 1987, 101 Stat. 754; Pub. L. 101–72, § 2, Aug. 7, 1989, 103 Stat. 182; Pub. L. 101–140, § 1, Nov. 8, 1989, 103 Stat. 830;
Pub. L. 101–508, title XI, § 11901[(a)], Nov. 5, 1990, 104 Stat. 1388–560; Pub. L. 103–66, title XIII, § 13411(a), Aug. 10, 1993, 107 Stat. 565; Pub. L. 104–121, title III, § 301, Mar. 29, 1996, 110 Stat. 875; Pub. L. 105–33, title V, § 5701, Aug. 5, 1997, 111 Stat. 648; Pub. L. 107–199, § 1, June 28, 2002, 116 Stat. 734; Pub. L. 108–24, May 27, 2003, 117 Stat. 710; Pub. L. 108–415, § 1, Nov. 19, 2004, 118 Stat. 2337; Pub. L. 109–182, Mar. 20, 2006, 120 Stat. 289; Pub. L. 110–91, Sept. 29, 2007, 121 Stat. 988;
Pub. L. 110–289, div. C, title III, § 3083, July 30, 2008, 122 Stat. 2908; Pub. L. 110–343, div. A, title I, § 122, Oct. 3, 2008, 122 Stat. 3790; Pub. L. 111–5, div. B, title I, § 1604, Feb. 17, 2009, 123 Stat. 366; Pub. L. 111–123, § 1, Dec. 28, 2009, 123 Stat. 3483; Pub. L. 111–139, Feb. 12, 2010, 124 Stat. 8; Pub. L. 112–25, title III, § 301(a)(1), Aug. 2, 2011, 125 Stat. 251.)
In subsection (a), the words “is deemed to be” are substituted for “shall be considered . . . to be” because a legal fiction is intended.
Connections161 cite this · traces to 15
Cited by 161 sections · top 60
U.S. Code
- § 601Definitions
- § 900Statement of budget enforcement through sequestration; definitions
- § 933PAYGO estimates and PAYGO scorecards
- § 632Annual adoption of concurrent resolution on the budget
- § 8348Civil Service Retirement and Disability Fund
- § 3101Public debt limit
- § 106Printing bills and joint resolutions
- § 8438Investment of Thrift Savings Fund
- § 1824Borrowing authority
- § 3130Annual public debt report
public-private-law
- Public Law 114-74Bipartisan Budget Act of 2015
- Public Law 115-123Bipartisan Budget Act of 2018
- Public Law 119-21To provide for reconciliation pursuant to title II of H
- Public Law 118-5Fiscal Responsibility Act of 2023
- Public Law 115-56Continuing Appropriations Act, 2018 and Supplemental Appropriations for Disaster Relief Requirements Act, 2017
- Public Law 113-46Making continuing appropriations for the fiscal year ending September 30, 2014, and for other purposes.Oct
- Public Law 117-71Protecting Medicare and American Farmers from Sequester Cuts Act
- Public Law 116-37Bipartisan Budget Act of 2019
- Public Law 113-3No Budget, No Pay Act of 2013
- Public Law 117-50To provide for the publication by the Secretary of Health and Human Services of physical activity recommendations for Americans.Oct
- Public Law 117-73Joint resolution relating to increasing the debt limit.Dec
- Public Law 113-83Temporary Debt Limit Extension Act
statutes-at-large
- Public Law 104–103To guarantee the timely payment of social security benefits in March 1996
- Public Law 101–72To increase the statutory limit on the public debt, and for other purposes
- Public Law 99–176
- Public Law 98–181Making supplemental appropriations for the fiscal year ending September 30, 1984, and for other purposes
- Public Law 99–155To temporarily increase the limit on the public debt and to restore the investments of the Social Security Trust Funds and other trust funds
- Public Law 97–270
- Public Law 98–34To increase the permanent public debt limit, and for other purpose
- Public Law 98–342To increase the statutory limit on the public debt
- Public Law 101–350To provide for a temporary increase in the public debt limit
- Public Law 100–80To provide for a temporary extension of the public debt limit
- Public Law 100–84To provide for a temporary increase in the public debt limit
- Public Law 98–302To provide for a temporary increase in the public debt limit, and for other purposes
- Public Law 100–40To provide for a temporary increase in the public debt limit
- Public Law 104–115To guarantee the continuing full investment of Social Security and other Federal funds in obligations of the United States
- Public Law 115–123To amend title 4, United States Code, to provide for the flying of the flag at half-staff in the event of the death of a first responder in the line of duty
- Public Law 99–508To amend title 18, United States Code, with respect to the interception of certain communications, other forms of surveillance, and for other purposes
- Public Law 111–5Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes
- Public Law 114–74To amend the Internal Revenue Code of 1986 to provide for a right to an administrative appeal relating to adverse determinations of tax-exempt status of certain organizations
- Public Law 99–498To reauthorize and revise the Higher Education Act of 1965, and for other purposes
- Public Law 101–508To provide for reconciliation pursuant to section 4 of the concurrent resolution on the budget for fiscal year 1991
- Public Law 118–5To provide for a responsible increase to the debt ceiling
- Public Law 113–3To ensure the complete and timely payment of the obligations of the United States Government until May 19, 2013, and for other purposes
- Public Law 115–56Making continuing appropriations for the fiscal year ending September 30, 2018, and for other purposes
- Public Law 117–73
- Public Law 101–140
register
- NoticesNotice of systems of records
- Rules and RegulationsProposed rule
- NoticesNotice of Proposed Privacy Act System of Records
- Rules and RegulationsNotice of systems of records
- NoticesInterim rule with request for comments
- NoticesNotice of modified system of records
- Rules and RegulationsNotice of a new Privacy Act system of records
- Rules and RegulationsNotice of systems of records
Traces to 15 documents
U.S. Code
public-private-law
- To provide for reconciliation pursuant to title II of HPublic Law 119-21
- Fiscal Responsibility Act of 2023Public Law 118-5
- Joint resolution relating to increasing the debt limit.DecPublic Law 117-73
- To provide for the publication by the Secretary of Health and Human Services of physical activity recommendations for Americans.OctPublic Law 117-50
- Bipartisan Budget Act of 2019Public Law 116-37
- Bipartisan Budget Act of 2018Public Law 115-123
- Continuing Appropriations Act, 2018 and Supplemental Appropriations for Disaster Relief Requirements Act, 2017Public Law 115-56
- Bipartisan Budget Act of 2015Public Law 114-74
- Temporary Debt Limit Extension ActPublic Law 113-83
- Making continuing appropriations for the fiscal year ending September 30, 2014, and for other purposes.OctPublic Law 113-46
- No Budget, No Pay Act of 2013Public Law 113-3
224 references not yet in our index
- 1
- Pub. L. 97–258
- 96 Stat. 938
- Pub. L. 98–34, § 1(a)
- 97 Stat. 196
- Pub. L. 98–161
- 97 Stat. 1012
- Pub. L. 98–342, § 1(a)
- 98 Stat. 313
- Pub. L. 98–475
- 98 Stat. 2206
- Pub. L. 99–177, § 1
- 99 Stat. 1037
- Pub. L. 99–384
- 100 Stat. 818
- Pub. L. 100–119, § 1
- 101 Stat. 754
- Pub. L. 101–72, § 2
- 103 Stat. 182
- Pub. L. 101–140, § 1
- 103 Stat. 830
- Pub. L. 101–508, title XI, § 11901[(a)]
- 104 Stat. 1388–560
- Pub. L. 103–66, title XIII, § 13411(a)
- 107 Stat. 565
- Pub. L. 104–121, title III, § 301
- 110 Stat. 875
- Pub. L. 105–33, title V, § 5701
- 111 Stat. 648
- Pub. L. 107–199, § 1
- 116 Stat. 734
- Pub. L. 108–24
- 117 Stat. 710
- Pub. L. 108–415, § 1
- 118 Stat. 2337
- Pub. L. 109–182
- 120 Stat. 289
- Pub. L. 110–91
- 121 Stat. 988
- Pub. L. 110–289, div. C, title III, § 3083
+ 184 more
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§ 3101
Public debt limit
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U.S.C.×40
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Bills×18
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Stat. Comp.×12
Pres. Papers×2
Cite1
Pub. L.Pub. L. 97–258
Stat.96 Stat. 938
Cites 239 · showing 12Cited by 161 across 7 sources