Page:United States Statutes at Large Volume 109 Part 1.djvu/129

 -•if^y^." PUBLIC LAW 104-8—APR. 17, 1995 109 STAT. 113 Council under subparagraph (A), the Authority shall be deemed to have approved the revised financial plan and budget and to have provided the Mayor, the Council, the President, and Congress with the notice certify- ing approval described in subparagraph (B)(i). (ii) EXI'LANATION OF FAILURE TO RESPOND. — If 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. (6) DEADLI^fE FOR TRANSMISSION OF FINANCIAL PLAN AND BUDGET BY AUTHORITY. — Notwithstanding any other provision of this section, not later than the June 15 preceding each fiscal year which is a control year, the Authority shall— (A) provide Congress with a notice certifying its approval of the Council's initial financial plan and budget for the fiscal year under paragraph (4)(A); (B) provide Congress with a notice certifying its approval of the Council's revised financial plan and budget for the fiscal year under paragraph (5)(B); or (C) submit to Congress an approved and recommended financial plan and budget of the Authority for the District government for the fiscal year under paragraph (5)(C). (d) ACTION UPON DISAPPROVAL OF MAYOR'S PRELIMINARY FINANCIAL PLAN AND BUDGET.— (1) STATEMENT OF DISAPPROVAL. — If the Authority determines that the financial plan and budget for the fiscal year submitted by the Mayor under subsection (a) does not meet the requirements applicable under section 201, the Authority shall disapprove the financial plan and budget, and shall provide the Mayor and the Council with a statement containing— (A) the reasons for such disapproval; (B) the amount of any shortfall in the financial plan and budget; and (C) any recommendations for revisions to the financial plan and budget the Authority considers appropriate to ensure that the financial plan and budget meets the requirements applicable under section 201. (2) AUTHORITY REVIEW OF MAYOR'S REVISED FINANCIAL PLAN AND BUDGET.— (A) SUBMISSION OF MAYOR'S REVISED FINANCIAL PLAN AND BUDGET. —Not later than 15 days after receiving the statement from the Authority under paragraph (1), the Mayor shall promptly submit to the Authority and the Council a revised financial plan and budget for the fiscal year which addresses the reasons for the Authority's disapproval cited in the statement. (B) APPROVAL OF MAYOR'S REVISED FINANCIAL PLAN AND BUDGET. —I f the Authority determines that the revised financial plan and budget for the fiscal year submitted by the Mayor under subparagraph (A) meets the requirements applicable under section 201— (i) the Authority shall approve the financial plan and budget and shall provide the Mayor, the Council, 99-194O-95 -5:QL3PartI

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