Page:United States Statutes at Large Volume 111 Part 1.djvu/722

 Ill STAT. 698 PUBLIC LAW 105-33 —AUG. 5, 1997 (4) in paragraph (9), by striking "submission of the fiscal year 1992 budget that are not included with a budget submission" and inserting "that budget submission that are not included with it"; (5) in paragraph (14), by inserting "first 4" before "fiscal years" and by striking "through fiscal year 1995"; (6) by striking paragraphs (17) and (20) and by redesignating paragraphs (18), (19), and (21) as paragraphs (17), (18), and (19), respectively; (7) in paragraph (17) (as redesignated), by striking "Omnibus Budget Reconciliation Act of 1990" and inserting "Balanced Budget Act of 1997"; (8) in paragraph (18) (as redesignated), by striking all after "expenses" and inserting "the Federal deposit insurance agencies, and other Federal agencies supervising insured depository institutions, resulting from full funding of, and continuation of, the deposit insurance guarantee commitment in effect under current estimates."; and (9) by striking paragraph (19) (as redesignated) and inserting the following: "(19) The term 'asset sale' means the sale to the public of any asset (except for those assets covered by title V of the Congressional Budget Act of 1974), whether physical or financial, owned in whole or in part by the United States.". SEC. 10203. ENFORCING DISCRETIONARY SPENDING LIMITS. (a) EXTENSION THROUGH FISCAL YEAR 2002. —Section 251 of 2 USC 901. the Balanced Budget and Emergency Deficit Control Act of 1985 is amended— (1) in the heading of subsection (a), by striking "Fiscal Years 1991-1998"; (2) in subsection (a)(3), by striking "(h)" both places it appears and inserting "(f)"; (3) by striking subsection (a)(7) and inserting the following: "(7) ESTIMATES.— "(A) CBO ESTIMATES.—As soon as practicable after Congress completes action on any discretionary appropriation, CBO, after consultation with the Committees on the Budget of the House of Representatives and the Senate, shall provide OMB with an estimate of the amount of discretionary new budget authority and outlays for the current year (if any) and the budget year provided by that legislation. Reports. "(B) OMB ESTIMATES AND EXPLANATION OF DIF- FERENCES. —Not later than 7 calendar days (excluding Saturdays, Sundays, and legal holidays) after the date of enactment of any discretionary appropriation, OMB shall transmit a report to the House of Representatives and to the Senate containing the CBO estimate of that legislation, an OMB estimate of the amount of discretionary new budget authority and outlays for the current year (if any) and the budget year provided by that legislation, and an explanation of any difference between the 2 estimates. If during the preparation of the report OMB determines that there is a significant difference between OMB and CBO, OMB shall consult with the Committees on the Budget of the House of Representatives and the Senate

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