Page:United States Statutes at Large Volume 104 Part 2.djvu/991

 PUBLIC LAW 101-508 —NOV. 5, 1990 104 STAT. 1388-583 "SEC. 253. ENFORCING DEFICIT TARGETS. 2 USC 903. "(a) SEQUESTRATION.—Within 15 calendar days after Congress adjourns to end a session (other than of the One Hundred First Congress) and on the same day as a sequestration (if any) under section 251 and section 252, but after any sequestration required by section 251 (enforcing discretionary spending limits) or section 252 (enforcing pay-as-you-go), there shall be a sequestration to eliminate the excess deficit (if any remains) if it exceeds the margin. "(b) EXCESS DEFICIT; MARGIN. — The excess deficit is, if greater than zero, the estimated deficit for the budget year, minus— "(1) the maximum deficit amount for that year; "(2) the amounts for that year designated as emergency direct spending or receipts legislation under section 252(e); and "(3) for any fiscal year in which there is not a full adjustment for technical and economic reestimates, the deposit insurance reestimate for that year, if any, calculated under subsection (h). The 'margin' for fiscal year 1992 or 1993 is zero and for fiscal year 1994 or 1995 is $15,000,000,000. "(c) DIVIDING THE SEQUESTRATION. —To eliminate the excess deficit in a budget year, half of the required outlay reductions shall be obtained from non-exempt defense accounts (accounts designated as function 050 in the President's fiscal year 1991 budget submission) and half from non-exempt, non-defense accounts (all other nonexempt accounts). "(d) DEFENSE.— Each non-exempt defense account shall be reduced by a dollar amount calculated by multiplying the level of sequestrable budgetary resources in that account at that time by the uniform percentage necessary to carry out subsection (c), except that, if any military personnel are exempt, adjustments shall be made under the procedure set forth in section 251(a)(3). "(e) NON-DEFENSE.— Actions to reduce non-defense accounts shall be taken in the following order: "(1) FIRST.— A l l reductions in automatic spending increases under section 256(a) shall be made. "(2) SECOND. — If additional reductions in non-defense accounts are required to be made, the maximum reduction permissible under sections 256(b) (guaranteed student loans) and 256(c) (foster care and adoption assistance) shall be made. "(3) THIRD. — (A) If additional reductions in non-defense accounts are required to be made, each remaining non-exempt, non-defense account shall be reduced by the uniform percentage necessary to make the reductions in non-defense outlays required by subsection (c), except that— "(i) the medicare program specified in section 256(d) shall not be reduced by more than 2 percent in total including any reduction of less than 2 percent made under section 252 or, if it has been reduced by 2 percent or more under section 252, it may not be further reduced under this section; and "(ii) the health programs set forth in section 256(e) shall not be reduced by more than 2 percent in total (including any reduction made under section 251), and the uniform percent applicable to all other programs under this subsection shall be increased (if necessary) to a level sufficient to achieve the required reduction in non-defense outlays. "(B) For purposes of determining reductions under subparagraph (A), outlay reduction (as a result of sequestration of

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