Page:United States Statutes at Large Volume 99 Part 1.djvu/1115

 PUBLIC LAW 99-177—DEC. 12, 1985

99 STAT. 1093

year determined under section 3(7) of the Congressional Budget and Impoundment Control Act of 1974. Ante, p. 1039. (6) The term "real economic growth", with respect to any fiscal year, means the growth in the gross national product during such fiscal year, adjusted for inflation, consistent with Department of Commerce definitions. (7) The terms "sequester" and "sequestration" (subject to section 252(a)(4)) refer to or mean the cancellation of new budget Ante, p. 1072. authority, unobligated balances, obligated balances, new loan guarantee commitments, new direct loan obligations, and spending authority as defined in section 401(c)(2) of the Congressional Budget Act of 1974, and the reduction of obligation Ante, p. 1056. limitations. (8) The term "account" means an item for which appropriations are made in any appropriation Act used to determine the budget base, and, for items not provided for in appropriation Acts, such term means an item for which there is a designated budget account identification code number in the Appendix to the President's budget.

PART D—BUDGETARY TREATMENT OF SOCIAL SECURITY TRUST FUNDS SEC. 261. TREATMENT OF TRUST FUNDS. (a) FISCAL YEARS 1986 THROUGH 1992.— (1) IN GENERAL.—Section 710 of the Social Security Act (as added by paragraph (1) of subsection (a) of section 346 of the Social Security Amendments of 1983) is amended— (A) by striking out all beginning with "the" the first place it appears down through "Disability Insurance Trust Fund, the ' and inserting in lieu thereof "the"; (B) by striking out the comma after "Hospital Insurance Trust Fund"; (C) by striking out "sections 1401, 3101, and 3111" and inserting in lieu thereof "sections 1401(b), 3101(b), and 3111(b)"; (D) by redesignating all after the section designation as subsection (\)); (E) by inserting immediately after the section designation the following: "(a) The receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, and the taxes imposed under sections 1401(a), 3101(a), and 3111(a) of the Internal Revenue Code of 1954, shall not be included in the totals of the budget of the United States Government as submitted by the President or of the congressional budget and shall be exempt from any general budget limitation imposed by statute on expenditures and net lending (budget Outlays) of the United States Government."; and (F) by adding at the end thereof the following new subsection: "(c) No provision of law enacted after the date of the enactment of the Balanced Budget and Emergency Deficit C!ontrol Act of 1985 (other than a provision of an appropriation Act that appropriates funds authorized under the Social Security Act as in effect on the date of the enactment of the Balanced Budget and Emergency

42 USC 9ii.

Taxes. 26 USC 1401, 3101, 3111.

Prohibition. 42 USC 1305.

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