Page:United States Statutes at Large Volume 110 Part 6.djvu/637

 CONCURRENT RESOLUTIONS-JUNE 13, 1996 110 STAT. 4459 (2) For purposes of this section, the term "sale of an asset" shall have the same meaning as under section 250(c)(21) of the Balanced Budget and Emergency Deficit Control Act of 1985. (3) For purposes of this section, the sale of loan assets or the prepayment of a loan shall be governed by the terms of the Federal Credit Reform Act of 1990. SEC. 303. BUDGETARY TREATMENT OF DIRECT STUDENT LOANS. For the purposes of any concurrent resolution on the budget and the Congressional Budget Act of 1974, the cost of a direct loan under the Federal direct student loan program shall be the net present value, at the time when the direct loan is disbursed, of the following cash flows for the estimated life of the loan— (1) loan disbursements; (2) repayments of principal; (3) payments of interest and other pa5anents by or to the Government over the life of the loan after adjusting for estimated defaults, prepayments, fees, penalties, and other recoveries; and (4) direct expenses, including— (A) activities related to credit extension, loan origination, loan servicing, management of contractors, and pay- ments to contractors, other government entities, and program participants; (B) collection of delinquent loans; and (C) writeoff and closeout of loans. SEC. 304. SUPERFUND RESERVE FUND. (a) DEFICIT NEUTRAL ADJUSTMENTS IN THE HOUSE. — (1) COMMITTEE ALLOCATIONS. — In the House of Representatives— (A) after the enactment of a superfund bill that reforms the Superfund program to facilitate the clean up of hazardous waste sites and extends Superfund taxes; and (B) upon the reporting of an appropriation measure (or submission of a conference report thereon) that appropriates funds for the Superfund program in excess of $1,302,000,000; the chairman of the Committee on the Budget of that House may submit revised allocations, functional levels, budget aggregates, and discretionary spending limits to carry out this section by an amount not to exceed the excess subject to the limitation. These revisions shall be considered for the purposes of the Congressional Budget Act of 1974 as the allocations, levels, aggregates, and limits contained in this resolution. (2) COMMITTEE SUBALLOCATIONS. — The Committee on Appropriations of the House of Representatives may report appropriately revised suballocations pursuant to sections 302(b)(1) and 602(b)(1) of the Congressional Budget Act of 1974 following the revision of allocations to that committee pursuant to paragraph (1). (3) LIMITATIONS.— The adjustments under this subsection shall not exceed the lesser of— (A) the net revenue increase for a fiscal year resulting from the enactment of legislation that extends Superfund taxes; or

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