Page:United States Statutes at Large Volume 110 Part 2.djvu/28

 110 STAT. 1202 PUBLIC LAW 104-130—APR. 9, 1996 Clerk of the House of Representatives if the House is not in session, and to the Secretary of the Senate if the Senate is not in session. Federal Register, "(2) Any special message transmitted under this part shall publication. be printed in the first issue of the Federal Register published after such transmittal. "CANCELLATION EFFECTIVE UNLESS DISAPPROVED 2 USC 691b. "SEC 1023. (a) IN GENERAL. — The cancellation of any dollar amount of discretionary budget authority, item of new direct spending, or limited tax benefit shall take effect upon receipt in the House of Representatives and the Senate of the special message notifying the Congress of the cancellation. If a disapproval bill for such special message is enacted into law, then all cancellations disapproved in that law shall be null and void and any such dollar amount of discretionary budget authority, item of new direct spending, or limited tax benefit shall be effective as of the original date provided in the law to which the cancellation applied. " (b) COMMENSURATE REDUCTIONS IN DISCRETIONARY BUDGET AUTHORITY. —Upon the cancellation of a dollar amount of discretionary budget authority under subsection (a), the total appropriation for each relevant account of which that dollar amount is a part shall be simultaneously reduced by the dollar amount of that cancellation. " D E FICIT REDUCTION 2 USC 691c. " SEC. 1024. (a) IN GENERAL.— "(1) DISCRETIONARY BUDGET AUTHORITY. — OMB shall, for each dollar amount of discretionary budget authority and for each item of new direct spending canceled from an appropriation law under section 1021(a)— "(A) reflect the reduction that results from such cancellation in the estimates required by section 251(a)(7) of the Balanced Budget and Emergency Deficit Control Act of 1985 in accordance with that Act, including an estimate of the reduction of the budget authority and the reduction in outlays flowing from such reduction of budget authority for each outyear; and "(B) include a reduction to the discretionary spending limits for budget authority and outlays in accordance with the Balanced Budget and Emergency Deficit Control Act of 1985 for each applicable fiscal year set forth in section 601(a)(2) by amounts equal to the amounts for each fiscal year estimated pursuant to subparagraph (A). "(2) DIRECT SPENDING AND LIMITED TAX BENEFITS.—(A) OMB shall, for each item of new direct spending or limited tax benefit canceled from a law under section 1021(a), estimate the deficit decrease caused by the cancellation of such item or benefit in that law and include such estimate as a separate entry in the report prepared pursuant to section 252(d) of the Balanced Budget and Emergency Deficit Control Act of 1985. "(B) OMB shall not include any change in the deficit resulting from a cancellation of any item of new direct spending or limited tax benefit, or the enactment of a disapproval bill for any such cancellation, under this part in the estimates

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