Page:United States Statutes at Large Volume 109 Part 1.djvu/127

 ~ 4iiii*-ifZ' PUBLIC LAW 104-8 —APR. 17, 1995 109 STAT. Ill may request any additional information it considers necessary and appropriate to carry out its duties under this subtitle. (4) RESULTS OF AUTHORITY REVIEW OF COUNCIL'S INITIAL FINANCIAL PLAN AND BUDGET.— (A) APPROVAL OF COUNCIL'S INITIAL FINANCIAL PLAN AND BUDGET.— If the Authority determines that the financial plan and budget for the fiscal year submitted by the Council under paragraph (2) meets the requirements applicable under section 201— (i) the Authority shall approve the financial plan and budget and shall provide the Mayor, the Council, the President, and Congress with a notice certifying its approval; and (ii) the Council shall promptly submit the financial plan and budget to the Mayor for transmission to the President and Congress under section 446 of the District of Columbia Self-Government and Governmental Reorganization Act. (B) DISAPPROVAL OF COUNCIL'S INITIAL BUDGET.—If the Authority determines that the financial plan and budget for the fiscal year submitted by the Council under paragraph (2) does not meet the requirements applicable under section 201, the Authority shall disapprove the financial plan and budget, and shall provide the Mayor, the Council, the President, and Congress with a statement containing— (i) the reasons for such disapproval; (ii) the amount of any shortfall in the budget or financial plan; and (iii) any recommendations for revisions to the budget the Authority considers appropriate to ensure that the budget is consistent with the financial plan and budget. (C) DEEMED APPROVAL AFTER IS DAYS. — (i) IN GENERAL.—If the Authority has not provided the Mayor, the Council, the President, and Congress with a notice certifying approval under subparagraph (A)(i) or a statement of disapproval under subparagraph (B) upon the expiration of the 15-day period which begins on the date the Authority receives the financial plan and budget from the Council under paragraph (2), the Authority shall be deemed to have approved the financial plan and budget and to have provided the Mayor, the Council, the President, and Congress with the notice certifying approval described in subparagraph (A)(i). (ii) EXPLANATION OF FAILURE TO RESPOND.—I f clause (i) applies with respect to a financial plan and budget, the Authority shall provide the Mayor, the Council, the President and Congress with an explanation for its failure to provide the notice certifying approval or the statement of disapproval during the 15-day period described in such clause. (5) AUTHORITY REVIEW OF COUNCIL'S REVISED FINANCIAL PLAN AND BUDGET.— (A) SUBMISSION OF COUNCIL'S REVISED FINANCIAL PLAN AND BUDGET.— Not later than 15 days after receiving the statement from the Authority under paragraph (4)(B), the

�