Page:United States Statutes at Large Volume 88 Part 1.djvu/358

 314

PUBLIC LAW 93-344-JULY 12, 1974

[88 STAT.

No projection shall be required for a fiscal year under paragraph (1) (B) or (2)(B) if the committee determines that a projection for that fiscal year is impracticable and states in its report the reason for such impracticability. (b)

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UP-TO-DATE TABULATION OF CONGRESSIONAL BUDGET ACTIONS.—

The Director of the Congressional Budget Office shall issue periodic reports detailing and tabulating the progress of congressional action on bills and resolutions providing new budget authority and changing reveuucs and the public debt limit for a fiscal year. Such reports shall include, but are not limited to— (1) an up-to-date tabulation comparing the new budget authority for such fiscal year in bills and resolutions on which Congress has completed action and estimated outlays, associated with such new budget authority, during such fiscal year to the new budget authority and estimated outlays set forth in the most recently agreed to concurrent resolution on the budget for such fiscal year and the reports submitted under section 302; (2) an up-to-date status report on all bills and resolutions providing new budget authority and changing revenues and the public debt limit for such fiscal year in both Houses; (3) an up-to-date comparison of the appropriate level of revenues contained in the most recently agreed to concurrent resolution on the budget for such fiscal year with the latest estimate of revenues for such year (including new revenues anticipated during such year under bills and resolutions on which the Congress has completed action); and (4) an up-to-date comparison of the appropriate level of the public debt contained in the most recently agreed to concurrent resolution on the budget for such fiscal year with the latest estimate of the public debt during such fiscal year. (c) FIVE-YEAR PROJECTION OF CONGRESSIONAL BUDGET ACTION,—As soon as practicable after the beginning of each fiscal year, the Director of the Congressional Budget Office shall issue a report projecting for the period of 5 fiscal years beginning with such fiscal year— (1) total new budget authority and total budget outlays for each fiscal year in such period; (2) revenues to be received and the major sources thereof, and the surplus or deficit, if any, for each fiscal year in such period; and (3) tax expenditures for each fiscal year in such period. COMPLETION

31 USC 133 0.

OF ACTION ON BILLS PROVIDING N E W BUDGET A N D CERTAIN N E W S P E N D I N G AUTHORITY

AUTHORITY

gj,(j_ 309, Except as otherwise provided pursuant to this title, not later than the seventh day after Labor Day of each year, the Congress shall complete action on all bills and resolutions— (1) providing new budget authority for the fiscal year beginning on October 1 of such year, other than supplemental, deficiency, and continuing appropriation bills and resolutions, and other than the reconciliation bill for such year, if required to be reported under section 310(c); and (2) providing new spending authority described in section 401 (c)(2)(C) which is to become effective during such fiscal year. Paragraph (1) shall not apply to any bill or resolution if legislation authorizing the enactment of new budget authority to be provided in such bill or resolution has not been timely enacted.

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