Page:United States Statutes at Large Volume 124.djvu/34

 Public Law 111–139

111th Congress

Joint Resolution

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $14,294,000,000,000.

TITLE I—STATUTORY PAY-AS-YOU-GO ACT OF 2010

SEC. 1. SHORT TITLE.

This title may be cited as the ‘‘Statutory Pay-As-You-Go Act of 2010’’.

SEC. 2. PURPOSE.

The purpose of this title is to reestablish a statutory procedure to enforce a rule of budget neutrality on new revenue and direct spending legislation.

SEC. 3. DEFINITIONS AND APPLICATIONS.

As used in this title—

(1) The term ‘‘BBEDCA’’ means the Balanced Budget and Emergency Deficit Control Act of 1985.

(2) The definitions set forth in section 3 of the Congressional Budget and Impoundment Control Act of 1974 and in section 250 of BBEDCA shall apply to this title, except to the extent that they are specifically modified as follows:

(A) The term ‘‘outyear’’ means a fiscal year one or more years after the budget year.

(B) In section 250(c)(8)(C), the reference to the food stamp program shall be deemed to be a reference to the Supplemental Nutrition Assistance Program.

(3) The term ‘‘AMT’’ means the Alternative Minimum Tax for individuals under sections 55–59 of the Internal Revenue Code of 1986, the term ‘‘EGTRRA’’ means the Economic Growth and Tax Relief Reconciliation Act of 2001 (Public Law 107–16), and the term ‘‘JGTRRA’’ means the Jobs and Growth Tax Relief and Reconciliation Act of 2003 (Public Law 108–27).

(4)(A) The term ‘‘budgetary effects’’ means the amount by which PAYGO legislation changes outlays flowing from direct spending or revenues relative to the baseline and shall be