Page:United States Statutes at Large Volume 99 Part 1.djvu/1090

 99 STAT. 1068

Post, p. 1072.

PUBLIC LAW 99-177—DEC. 12, 1985 such fiscal year (or the date of the enactment of this joint resolution in the case of fiscal year 1986) and ending with the date on which the final order is issued under section 252(b) for such fiscal year (or February 1, 1986, in the case of fiscal year 1986) shall not be taken into account in determining such budget base.

(b) REPORT TO PRESIDENT AND CONGRESS BY COMPTROLLER GENERAL.— (1) REPORT TO BE BASED ON OMB-CBO REPORT.—The Comptroller

Post, pp. 1082, 1086, 1092.

General shall review and consider the report issued by the Directors for the fiscal year and, with due regard for the data, assumptions, and methodologies used in reaching the conclusions set forth therein, shall issue a report to the President and the Congress on August 25 of the calendar year in which such fiscal year begins (or on January 20, 1986, in the case of the fiscal year 1986), estimating the budget base levels of total revenues and total budget outlays for such fiscal year, identifying the amount of any deficit excess for such fiscal year (adjusted in accordance with subsection (a)(3)(A)(ii), in the case of fiscal year 1986), stating whether such deficit excess (or adjusted deficit excess, in the case of fiscal year 1986) will be greater than $10,000,000,000 (zero in the case of fiscal years 1986 and 1991), specifying the estimated rate of real economic growth for such fiscal year, for each quarter of such fiscal year, and for each of the last two quarters of the preceding fiscal year, indicating whether the estimate includes two or more consecutive quarters of negative economic growth, and specifying (if the excess is greater than $10,000,000,000, or zero in the case of fiscal years 1986 and 1991), by account, for non-defense programs, and by account and programs, projects, and activities within each account, for defense programs, the base from which reductions are taken and the amounts and percentages by which such accounts must be reduced during such fiscal year in order to eliminate such deficit excess (or adjusted deficit excess, in the case of fiscal year 1986). Such report shall be based on the estimates, determinations, and specifications of the Directors and shall utilize the budget base, criteria, and guidelines set forth in subsection (a)(6) and in sections 255, 256, and 257. (2) CONTENTS OF REPORT.—The report of the Comptroller General under this subsection shall— (A) provide for the determination of reductions in the manner specified in subsection (a)(3); and (B) contain estimates, determinations, and specifications for all of the items contained in the report submitted by the Directors under subsection (a). Such report shall explain fully any differences between the contents of such report and the report of the Directors. (c) REVISED ESTIMATES, DETERMINATIONS, AND REPORTS.— (1) REPORT BY OMB AND CBO.—On October 5 of the fiscal

year (except in the case of the fiscal year 1986), the Directors shall submit to the Comptroller General a revised report— (A) indicating whether and to what extent, as a result of laws enacted and regulations promulgated after the submission of their initial report under subsection (a), the excess deficit (adjusted in accordance with subsection (a)(3)(A)(ii), in the case of fiscal year 1986) identified in the report

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