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Title II — Other Matters

S. 63 · 116th Congress · Jan 9, 2019 · Lineage

II Other Matters

201. Views and estimates of committees

Section 301(d) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 632(d)) is amended to read as follows:

“(d) Views and estimates of other committees

“(1) In general—Not later than March 1 of the first session of a Congress, or upon the request of the Committee on the Budget of the House of Representatives or the Senate, each committee of the House of Representatives and the Senate having legislative jurisdiction shall submit to its respective Committee on the Budget its views and estimates (as determined by the committee making such submission) with respect to the following:

“(A) Any legislation to be considered during that Congress that is a priority for the committee.

“(B) Any legislation within the jurisdiction of the committee that would establish, amend, or reauthorize any Federal program and likely have a significant budgetary impact.

“(2) Additional matters—Any committee of the House of Representatives or the Senate and any joint committee of the Congress may submit to the appropriate Committees on the Budget its views and estimates with respect to all matters set forth in subsections (a) and (b) which relate to matters within its jurisdiction.

“(3) Joint Economic Committee—The Joint Economic Committee shall submit to the Committees on the Budget of both Houses its recommendations as to the fiscal policy appropriate to the goals of the Employment Act of 1946.”

202. Annual supplemental budget submission by the President

Section 1106 of title 31, United States Code, is amended by adding at the end the following:

“(d) On or before December 1 of each calendar year, the President shall submit to Congress an administrative budget for the fiscal year beginning in the ensuing calendar year, which shall include up-to-date estimates for current year and prior year data and credit reestimates for the current year (as included in the Federal credit supplement of such budget).”

203. Hearing on the fiscal state of the Nation

(a)
In general— Not later than 45 days (excluding Saturdays, Sundays, and holidays) after the date on which the Secretary of the Treasury submits to Congress the audited financial statement required under paragraph (1) of section 331(e) of title 31, United States Code, on a date agreed upon by the chairs of the Committees on the Budget of the House of Representatives and the Senate and the Comptroller General of the United States, the chairs shall conduct a hearing to receive a presentation from the Comptroller General reviewing the findings of the audit required under paragraph (2) of such section and providing, with respect to the information included by the Secretary in the report accompanying such audited financial statement, an analysis of the financial position and condition of the Federal Government, including financial measures (such as the net operating cost, income, budget deficits, or budget surpluses) and sustainability measures (such as the long-term fiscal projection or social insurance projection) described in such report.
(b)
Effective date— The requirement under subsection (a) shall apply with respect to any audited financial statement submitted on or after the date of the enactment of this Act.

204. Reform of Senate Budget Committee

In the Senate, the Committee on the Budget shall include the following:
(1)
The Chairman and Ranking Member of the Committee on Appropriations.
(2)
The Chairman and Ranking Member of the Committee on Finance.