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31 U.S.C. § 3130 — Annual public debt report
Federal law — U.S. Code and appendices · legal_authorities
**(a) General Rule.—** On or before June 1 of each calendar year after 1993, the Secretary of the Treasury shall submit a report to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate on—
(1) the Treasury’s public debt activities, and
(2) the operations of the Federal Financing Bank.
**(b) Required Information on Public Debt Activities.—** Each report submitted under subsection (a) shall include the following information:
(1) A table showing the following information with respect to the total public debt:
(A) The past levels of such debt and the projected levels of such debt as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch.
(B) The past debt to GDP ratios and the projected debt to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection.
(2) A table showing the following information with respect to the net public debt:
(A) The past levels of such debt and the projected levels of such debt as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch.
(B) The past debt to GDP ratios and the projected debt to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection.
(C) The interest cost on such debt for prior fiscal years and the projected interest cost on such debt for the current fiscal year and for the next 5 fiscal years under such most recent current service
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Source location: Title 31, Chapter 31, § 3130; chapter-031-public-debt.md
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**(a) General Rule.—** On or before June 1 of each calendar year after 1993, the Secretary of the Treasury shall submit a report to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate on—
(1) the Treasury’s public debt activities, and
(2) the operations of the Federal Financing Bank.
**(b) Required Information on Public Debt Activities.—** Each report submitted under subsection (a) shall include the following information:
(1) A table showing the following information with respect to the total public debt:
(A) The past levels of such debt and the projected levels of such debt as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch.
(B) The past debt to GDP ratios and the projected debt to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection.
(2) A table showing the following information with respect to the net public debt:
(A) The past levels of such debt and the projected levels of such debt as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch.
(B) The past debt to GDP ratios and the projected debt to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection.
(C) The interest cost on such debt for prior fiscal years and the projected interest cost on such debt for the current fiscal year and for the next 5 fiscal years under such most recent current services baseline projection.
(D) The interest cost to outlay ratios for prior fiscal years and the projected interest cost to outlay ratios for the current fiscal year and for the next 5 fiscal years under such most recent current services baseline projection.
(3) A table showing the maturity distribution of the net public debt as of the time the report is submitted and for prior years, and an explanation of the overall financing strategy used in determining the distribution of maturities when issuing public debt obligations, including a discussion of the projections and assumptions with respect to the structure of interest rates for the current fiscal year and for the succeeding 5 fiscal years.
(4) A table showing the following information as of the time the report is submitted and for prior years:
(A) A description of the various categories of the holders of public debt obligations.
(B) The portions of the total public debt held by each of such categories.
(5) A table showing the relationship of federally assisted borrowing to total Federal borrowing as of the time the report is submitted and for prior years.
(6) A table showing the annual principal and interest payments which would be required to amortize in equal annual payments the level (as of the time the report is submitted) of the net public debt over the longest remaining term to maturity of any obligation which is a part of such debt.
**(c) Required Information on Federal Financing Bank.—** Each report submitted under subsection (a) shall include (but not be limited to) information on the financial operations of the Federal Financing Bank, including loan payments and prepayments, and on the levels and categories of the lending activities of the Federal Financing Bank, for the current fiscal year and for prior fiscal years.
**(d) Recommendations.—** The Secretary of the Treasury may include in any report submitted under subsection (a) such recommendations to improve the issuance and sale of public debt obligations (and with respect to other matters) as he may deem advisable.
**(e) Definitions.—** For purposes of this section—
(1) **Current fiscal year.—** — The term “current fiscal year” means the fiscal year ending in the calendar year in which the report is submitted.
(2) **Total public debt.—** — The term “total public debt” means the total amount of the obligations subject to the public debt limit established in [section 3101 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3101&num=0&edition=prelim).
(3) **Net public debt.—** — The term “net public debt” means the portion of the total public debt which is held by the public.
(4) **Debt to gdp ratio.—** — The term “debt to GDP ratio” means the percentage obtained by dividing the level of the total public debt or net public debt, as the case may be, by the gross domestic product.
(5) **Interest cost to outlay ratio.—** — The term “interest cost to outlay ratio” means, with respect to any fiscal year, the percentage obtained by dividing the interest cost for such fiscal year on the net public debt by the total amount of Federal outlays for such fiscal year.
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Federal law — U.S. Code and appendices · legal_authorities
**(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 11 See References in Text note below. 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).
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Securities Exchange Act of 1934.”
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Federal law — U.S. Code and appendices · legal_authorities
Page 231
TITLE 31—MONEY AND FINANCE
§ 3130
HISTORICAL AND REVISION NOTES
Revised
Section
Source (U.S. Code)
Source (Statutes at Large)
3127 .........
31:740.
R.S. § 3707.
The word ‘‘employee’’ is added for consistency with
other titles of the United States Code. The words ‘‘of
the United States Government’’ are added for clarity
and consistency. The word ‘‘duly’’ is omitted as sur-
plus. The words ‘‘issued by authority of law’’ are omit-
ted as unnecessary. The words ‘‘which has subsequently
thereto’’ are omitted as unnecessary. The words ‘‘is
satisfied’’ are substituted for ‘‘upon full and satisfac-
tory proof’’ to eliminate unnecessary words.
§ 3128. Proof of death to support payment
A finding of death made by an officer or em-
ployee of the United States Government author-
ized by law to make the finding is sufficient
proof of death to allow credit in the accounts of
a Federal reserve bank or accountable official of
the Department of the Treasury in a case in-
volving the transfer, exchange, reissue, redemp-
tion, or payment of obligations of the Govern-
ment, including obligations guaranteed by the
Government for which the Secretary of the
Treasury acts as transfer agent.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 947.)
HISTORICAL AND REVISION NOTES
Revised
Section
Source (U.S. Code)
Source (Statutes at Large)
3128 .........
31:757d.
Sept. 24, 1917, ch. 56, 40 Stat.
288, § 23; added Apr. 3, 1945,
ch. 51, § 4, 59 Stat. 48.
The words ‘‘officer or employee’’ are substituted for
‘‘official or agency’’ for clarity and consistency with
other titles of the United States Code. The word ‘‘Gov-
ernment’’ is added for consistency. The words ‘‘section
1005 of Appendix to title 50’’ are omitted because the
section was repealed by section 8(a) of t
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