Page:United States Statutes at Large Volume 99 Part 1.djvu/1061

 PUBLIC LAW 99-177—DEC. 12, 1985

99 STAT. 1039

PART A—CONGRESSIONAL BUDGET PROCESS Subpart I—Congressional Budget SEC. 201. CONGRESSIONAL BUDGET. (a) DEFINITIONS.—

(1) Section 3 of the Congressional Budget and Impoundment Control Act of 1974 is amended by adding at the end thereof the following new paragraphs: "(6) The term 'deficit' means, with respect to any fiscal year, the amount by which total budget outlays for such fiscal year exceed total revenues for such fiscal year. In calculating the deficit for purposes of comparison with the maximum deficit amount under the Balanced Budget and Emergency Deficit Control Act of 1985 and in calculating the excess deficit for purposes of sections 251 and 252 of such Act (notwithstanding section 710(a) of the Social Security Act), for any fiscal year, the receipts of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund for such fiscal year and the taxes payable under sections 1401(a), 3101(a), and 3111(a) of the Internal Revenue Code of 1954 during such fiscal year shall be included in total revenues for such fiscal year, and the disbursements of each such Trust Fund for such fiscal year shall be included in total budget outlays for such fiscal year. Notwithstanding £my other provision of law except to the extent provided by section 710(a) of the Social Security Act, the receipts, revenues, disbursements, budget authority, and outlays of each off-budget Federal entity for a fiscal year shall be included in total budget authority, total budget outlays, and total revenues and the amounts of budget authority and outlays set forth for each major functional category, for such fiscal year. Amounts paid by the Federal Financing Bank for the purchase of loans made or guaranteed by a department, agency, or instrumentality of the Government of the United States shall be treated as outlays of such department, agency, or instrumentality. "(7) The term 'maximum deficit amount' means— "(A) with respect to the fiscal year beginning October 1, 1985, $171,900,000,000; "(B) with respect to the fiscal year beginning October 1, 1986, $144,000,000,000; "(C) with respect to the fiscal year beginning October 1, 1987, $108,000,000,000; "(D) with respect to the fiscal year beginning October 1, 1988, $72,000,000,000; "(E) with respect to the fiscal year beginning October 1, 1989, $36,000,000,000; and "(F) with respect to the fiscal year beginning October 1, 1990, zero. "(8) The term 'off-budget Federal entity' means any entity (other than a privately-owned Government-sponsored entity)— "(A) which is established by Federal law, and "(B) the receipts and disbursements of which are required by law to be excluded from the totals of—

2 USC 622.

Ante, p. 1038. Post, pp. 1063, 42 USC 911

26 USC 1401, ^^oi- ^ m

42 USC 9ii.

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