Page:United States Statutes at Large Volume 111 Part 3.djvu/650

 Ill STAT. 2738 CONCURRENT RESOLUTIONS-JUNE 5, 1997 nues if such sale would cause an increase in the deficit as calculated pursuant to paragraph (2). (2) CALCULATION OF NET PRESENT VALUE. — The deficit estimate of an asset sale shall be the net present value of the cash flow from— (A) proceeds from the asset sale; (B) future receipts that would be expected from continued ownership of the asset by the Government; and (C) expected future spending by the Government at a level necessary to continue to operate and maintain the asset to generate the receipts estimated pursuant to subparagraph (B), (c) DEFINITION. —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. (d) TREATMENT OF LOAN ASSETS. — For the 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. (e) INTENT. —The asset sale rule may be revisited when the Budget Enforcement Act of 1990 is extended. SEC. 212. DETERMINATIONS OF BUDGETARY LEVELS; REVERSALS. (a) DETERMINATIONS.—For purposes of this title, budgetary levels shall be determined on the basis of estimates made by the Committee on the Budget. (b) REVERSALS AND ADJUSTMENTS.—(1) In the House of Representatives, if any legislation referred to in this title is not enacted into law, then the chairman of the Committee on the Budget shall, as soon as practicable, reverse adjustments made under this title for such legislation and have such adjustments published in the Congressional Record. (2) In the Senate, the adjustments and revisions to allocations, aggregates, and limits made by the Chairman of the Committee on the Budget pursuant to this title for legislation shall only apply while such legislation is under consideration in the Senate and shall only permanently take effect upon the enactment of such legislation. (c) EFFECT OF REVISIONS. — Any revisions made by the chairman of the Committee on the Budget under this title, and in the Senate, under section 104(d), shall be considered for purposes of the Congressional Budget Act of 1974 as the allocations and aggregates, and in the Senate, the discretionary spending limits, contained in this resolution, and the chairman shall have such revisions published in the Congressional Record. SEC. 213. EXERCISE OF RULEMAKING POWERS. The Congress adopts the provisions of this title— (1) as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such they shall be considered as part of the rules of each House, or of that House to which they specifically apply, and such rules shall supersede other rules only to the extent that they are inconsistent therewith; and (2) with full recognition of the constitutional right of either House to change those rules (so far as they relate to that House) at any time, in the same manner, and to the same extent as in the case of any other rule of that House.

�