2 U.S.C. § 665 — Untitled legal text

Page 216 TITLE 2—THE CONGRESS § 661e Stat. 1388–613; amended Pub. L. 105–33, title X, § 10117(c), Aug. 5, 1997, 111 Stat. 694; Pub. L. 113–67, div. A, title I, § 122(15), Dec. 26, 2013, 127 Stat. 1176.) Editorial Notes PRIOR PROVISIONS A prior section 505 of Pub. L. 93–344, title V, July 12, 1974, 88 Stat. 322, repealed sections 66 and 81 of this title. AMENDMENTS 2013—Subsec. (c). Pub. L. 113–67 made technical amendment to reference in original act which appears in text as reference to section 655(b) of this title. 1997—Subsec. (c). Pub. L. 105–33, § 10117(c)(2), sub- stituted ‘‘supersede’’ for ‘‘supercede’’. Pub. L. 105–33, § 10117(c)(1), inserted before period at end of second sentence ‘‘, except that the rate of inter- est charged by the Secretary on lending to financing accounts (including amounts treated as lending to fi- nancing accounts by the Federal Financing Bank (here- inafter in this subsection referred to as the ‘Bank’) pur- suant to section 655(b) of this title) and the rate of in- terest paid to financing accounts on uninvested bal- ances in financing accounts shall be the same as the rate determined pursuant to section 661a(5)(E) of this title. For guaranteed loans financed by the Bank and treated as direct loans by a Federal agency pursuant to section 655(b) of this title, any fee or interest surcharge (the amount by which the interest rate charged exceeds the rate determined pursuant to section 661a(5)(E) of this title) that the Bank charges to a private borrower pursuant to section 2285(c) of title 12 shall be consid- ered a cash flow to the Government for the purposes of determining the cost of the direct loan pursuant to sec- tion 661a(5) of this title. All such amounts shall be credited to the appropriate financing account. The Bank is authorized to require reimbursement from a Federal agency to cover the administrative expenses of the Bank that are attributable to the direct loans fi- nanced for that agency. All such payments by an agen- cy shall be considered administrative expenses subject to section 661c(g) of this title. This subsection shall apply to transactions related to direct loan obligations or loan guarantee commitments made on or after Octo- ber 1, 1991’’. Subsec. (d). Pub. L. 105–33, § 10117(c)(3), amended head- ing and text of subsec. (d) generally. Prior to amend- ment, text read as follows: ‘‘If funds in liquidating ac- counts are insufficient to satisfy the obligations and commitments of said accounts, there is hereby pro- vided permanent, indefinite authority to make any payments required to be made on such obligations and commitments.’’ § 661e. Treatment of deposit insurance and agen- cies and other insurance programs (a) In general This subchapter shall not apply to the credit or insurance activities of the Federal Deposit Insurance Corporation, National Credit Union Administration, Resolution Trust Corporation, Pension Benefit Guaranty Corporation, National Flood Insurance, National Insurance Develop- ment Fund, Crop Insurance, or Tennessee Valley Authority. (b) Study The Director and the Director of the Congres- sional Budget Office shall each study whether the accounting for Federal deposit insurance programs should be on a cash basis on the same basis as loan guarantees, or on a different basis. Each Director shall report findings and rec- ommendations to the President and the Con- gress on or before May 31, 1991. (c) Access to data For the purposes of subsection (b), the Office of Management and Budget and the Congres- sional Budget Office shall have access to all agency data that may facilitate these studies. (Pub. L. 93–344, title V, § 506, as added Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–614; amended Pub. L. 105–33, title X, § 10117(d), Aug. 5, 1997, 111 Stat. 695.) Editorial Notes PRIOR PROVISIONS A prior section 506 of Pub. L. 93–344, title V, July 12, 1974, 88 Stat. 322, amended section 105 of Title 1, Gen- eral Provisions, and enacted provisions set out as a note under section 105 of Title 1, prior to the general revision of title V of Pub. L. 93–344 by Pub. L. 101–508. AMENDMENTS 1997—Pub. L. 105–33 struck out subsec. (a) designation and heading, redesignated pars. (1) to (3) of former sub- sec. (a) as subsecs. (a) to (c), respectively, inserted sub- sec. headings, and substituted ‘‘subsection (b)’’ for ‘‘paragraph (2)’’ in subsec. (c). § 661f. Effect on other laws (a) Effect on other laws This subchapter shall supersede, modify, or re- peal any provision of law enacted prior to No- vember 5, 1990, to the extent such provision is inconsistent with this subchapter. Nothing in this subchapter shall be construed to establish a credit limitation on any Federal loan or loan guarantee program. (b) Crediting of collections Collections resulting from direct loans obli- gated or loan guarantees committed prior to Oc- tober 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so cred- ited shall be available, to the same extent that they were available prior to November 5, 1990, to liquidate obligations arising from such direct loans obligated or loan guarantees committed prior to October 1, 1991, including repayment of any obligations held by the Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year. (Pub. L. 93–344, title V, § 507, as added Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–614.) SUBCHAPTER IV—BUDGET AGREEMENT ENFORCEMENT PROVISIONS §§ 665 to 665e. Repealed. Pub. L. 105–33, title X, § 10118(a), Aug. 5, 1997, 111 Stat. 695 Section 665, Pub. L. 93–344, title VI, § 601, as added Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–602; amended Pub. L. 103–66, title XIV, § 14002(a), (b), Aug. 10, 1993, 107 Stat. 683, defined terms and pro- vided for points of order in cases where measures would exceed discretionary spending limits. A prior section 601 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 323, was classified to section 11 of former Page 217 TITLE 2—THE CONGRESS § 681 Title 31, prior to repeal and reenactment as sections 1105(a)(15), 1106(b), and 1108(d) of Title 31, Money and Fi- nance, by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31. Section 665a, Pub. L. 93–344, title VI, § 602, as added Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–603; amended Pub. L. 103–322, title XXXI, § 310001(f)(1), Sept. 13, 1994, 108 Stat. 2103, related to committee allocations and enforcement. A prior section 602 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment as section 1106(a) of Title 31, Money and Finance, by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first sec- tion of which enacted Title 31. Section 665b, Pub. L. 93–344, title VI, § 603, as added Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–605, related to consideration of legislation before adoption of budget resolution for that fiscal year. A prior section 603 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment in section 1105(a)(1)–(14) of Title 31, Money and Finance, by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first sec- tion of which enacted Title 31. Section 665c, Pub. L. 93–344, title VI, § 604, as added Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–605, related to reconciliation directives regarding pay-as-you-go requirements. A prior section 604 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment in section 1105(a)(1)–(14) of Title 31, Money and Finance, by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first sec- tion of which enacted Title 31. Section 665d, Pub. L. 93–344, title VI, § 605, as added Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–606, related to application of section 642 of this title and points of order in Senate for measures exceed- ing specified maximum deficit amount. A prior section 605 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 325, was classified to section 11a of former Title 31, prior to repeal and reenactment in section 1109 of Title 31, Money and Finance, by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31. Section 665e, Pub. L. 93–344, title VI, § 606, as added Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–606; amended Pub. L. 104–121, title I, § 103(c), Mar. 29, 1996, 110 Stat. 849; Pub. L. 104–193, title II, § 211(d)(5)(C), Aug. 22, 1996, 110 Stat. 2192, related to 5- year budget resolutions and requirement that budget resolutions conform to Balanced Budget and Emer- gency Deficit Control Act of 1985. A prior section 606 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 325, was classified to section 661 of this title, prior to repeal by Pub. L. 99–177, title II, § 223, Dec. 12, 1985, 99 Stat. 1060. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Pub. L. 93–344, title VI, § 607, as added by Pub. L. 101–508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388–607, and amended by Pub. L. 103–66, title XIV, § 14002(c)(3)(B), Aug. 10, 1993, 107 Stat. 684, provided that title VI of Pub. L. 93–344, enacting this subchapter, was effective Nov. 5, 1990, and was applicable to fiscal years 1991 to 1998, prior to repeal by Pub. L. 105–33, title X, § 10118(a), Aug. 5, 1997, 111 Stat. 695. CHAPTER 17B—IMPOUNDMENT CONTROL SUBCHAPTER I—GENERAL PROVISIONS Sec. 681. Disclaimer. SUBCHAPTER II—CONGRESSIONAL CONSIDER- ATION OF PROPOSED RESCISSIONS, RESERVA- TIONS, AND DEFERRALS OF BUDGET AUTHOR- ITY 682. Definitions. Sec. 683. Rescission of budget authority. 684. Proposed deferrals of budget authority. 685. Transmission of messages; publication. 686. Reports by Comptroller General. 687. Suits by Comptroller General. 688. Procedure in House of Representatives and Senate. SUBCHAPTER III—LINE ITEM VETO 691 to 692. Omitted. SUBCHAPTER I—GENERAL PROVISIONS § 681. Disclaimer Nothing contained in this Act, or in any amendments made by this Act, shall be con- strued as— (1) asserting or conceding the constitutional powers or limitations of either the Congress or the President; (2) ratifying or approving any impoundment heretofore or hereafter executed or approved by the President or any other Federal officer or employee, except insofar as pursuant to statutory authorization then in effect; (3) affecting in any way the claims or de- fenses of any party to litigation concerning any impoundment; or (4) superseding any provision of law which requires the obligation of budget authority or the making of outlays thereunder. (Pub. L. 93–344, title X, § 1001, July 12, 1974, 88 Stat. 332.) Editorial Notes REFERENCES IN TEXT This Act, referred to in provision preceding par. (1), means Pub. L. 93–344, July 12, 1974, 88 Stat. 297, known as the Congressional Budget and Impoundment Control Act of 1974, which enacted chapters 17, 17A, and 17B, and section 190a–3 of this title and sections 11a, 11c, 11d, 1020a of former Title 31, amended sections 11, 665, 701, 1020, 1151, 1152, 1153, and 1154 of former Title 31, section 105 of Title 1, General Provisions, sections 190b and 190d of this title, repealed sections 571 and 581c–1 of former Title 31 and sections 66 and 81 of this title, and enacted provisions set out as notes under sections 190a–1, 621, 632, and 682 of this title, section 105 of Title 1, and sec- tion 1020 of former Title 31. For complete classification of this Act to the Code, see Short Title note set out under section 621 of this title and Tables. CODIFICATION Section was formerly classified to section 1400 of Title 31 prior to the general revision and enactment of Title 31, Money and Finance, by Pub. L. 97–258, § 1, Sept. 13, 1982, 96 Stat. 877. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Chapter effective July 12, 1974, see section 905(a) of Pub. L. 93–344, formerly set out as a note under section 621 of this title. SHORT TITLE OF 1996 AMENDMENT Pub. L. 104–130, § 1, Apr. 9, 1996, 110 Stat. 1200, which provided that Pub. L. 104–130 (enacting former sub- chapter III (§ 691 et seq.) of this chapter and provisions set out as a note under section 691 of this title and amending provisions set out as notes under section 621 of this title) could be cited as the ‘‘Line Item Veto Act’’, was omitted pursuant to section 5 of Pub. L.