2 U.S.C. § 902
Section 902 · Enforcing pay-as-you-go
Current version, with additions and removals from the August 5, 1997 version.
The purpose of this section is to assure that any legislation enacted before October 1, 2002, affecting direct spending or receipts that increases the deficit will trigger an offsetting sequestration.
The purpose of this section is to assure that any legislation enacted before October 1, 2002, affecting direct spending or receipts that increases the deficit will trigger an offsetting sequestration.
(1) Timing
(1) Timing
Not later than 15 calendar days after the date Congress adjourns to end a session and on the same day as a sequestration (if any) under section 901 or 903 of this title, there shall be a sequestration to offset the amount of any net deficit increase caused by all direct spending and receipts legislation enacted before October 1, 2002, as calculated under paragraph (2).
Not later than 15 calendar days after the date Congress adjourns to end a session and on the same day as a sequestration (if any) under section 901 or 903 of this title, there shall be a sequestration to offset the amount of any net deficit increase caused by all direct spending and receipts legislation enacted before October 1, 2002, as calculated under paragraph (2).
(2) Calculation of deficit increase
(2) Calculation of deficit increase
OMB shall calculate the amount of deficit increase or decrease by adding—
OMB shall calculate the amount of deficit increase or decrease by adding—
(A) all OMB estimates for the budget year of direct spending and receipts legislation transmitted under subsection (d) of this section;
(A) all OMB estimates for the budget year of direct spending and receipts legislation transmitted under subsection (d) of this section;
(C) any net deficit increase or decrease in the current year resulting from all OMB estimates for the current year of direct spending and receipts legislation transmitted under subsection (d) of this section that were not reflected in the final OMB sequestration report for the current year.
(C) any net deficit increase or decrease in the current year resulting from all OMB estimates for the current year of direct spending and receipts legislation transmitted under subsection (d) of this section that were not reflected in the final OMB sequestration report for the current year.
(1) The amount required to be sequestered in a fiscal year under subsection (b) of this section shall be obtained from non-exempt direct spending accounts from actions taken in the following order:
(1) The amount required to be sequestered in a fiscal year under subsection (b) of this section shall be obtained from non-exempt direct spending accounts from actions taken in the following order:
(A) First
(A) First
(B) Second
(B) Second
(C) Third
(C) Third
(ii) For purposes of determining reductions under clause (i), outlay reductions (as a result of sequestration of Commodity Credit Corporation commodity price support contracts in the fiscal year of a sequestration) that would occur in the following fiscal year shall be credited as outlay reductions in the fiscal year of the sequestration.
(ii) For purposes of determining reductions under clause (i), outlay reductions (as a result of sequestration of Commodity Credit Corporation commodity price support contracts in the fiscal year of a sequestration) that would occur in the following fiscal year shall be credited as outlay reductions in the fiscal year of the sequestration.
(2) For purposes of this subsection, accounts shall be assumed to be at the level in the baseline.
(2) For purposes of this subsection, accounts shall be assumed to be at the level in the baseline.
(1) CBO estimates
(1) CBO estimates
As soon as practicable after Congress completes action on any direct spending or receipts legislation, CBO shall provide an estimate to OMB of that legislation.
As soon as practicable after Congress completes action on any direct spending or receipts legislation, CBO shall provide an estimate to OMB of that legislation.
(2) OMB estimates
(2) OMB estimates
Not later than 7 calendar days (excluding Saturdays, Sundays, and legal holidays) after the date of enactment of any direct spending or receipts legislation, OMB shall transmit a report to the House of Representatives and to the Senate containing—
Not later than 7 calendar days (excluding Saturdays, Sundays, and legal holidays) after the date of enactment of any direct spending or receipts legislation, OMB shall transmit a report to the House of Representatives and to the Senate containing—
(A) the CBO estimate of that legislation;
(A) the CBO estimate of that legislation;
(B) an OMB estimate of that legislation using current economic and technical assumptions; and
(B) an OMB estimate of that legislation using current economic and technical assumptions; and
(C) an explanation of any difference between the 2 estimates.
(C) an explanation of any difference between the 2 estimates.
(3) Significant differences
(3) Significant differences
If during the preparation of the report under paragraph (2) OMB determines that there is a significant difference between the OMB and CBO estimates, OMB shall consult with the Committees on the Budget of the House of Representatives and the Senate regarding that difference and that consultation, to the extent practicable, shall include written communication to such committees that affords such committees the opportunity to comment before the issuance of that report.
If during the preparation of the report under paragraph (2) OMB determines that there is a significant difference between the OMB and CBO estimates, OMB shall consult with the Committees on the Budget of the House of Representatives and the Senate regarding that difference and that consultation, to the extent practicable, shall include written communication to such committees that affords such committees the opportunity to comment before the issuance of that report.
(4) Scope of estimates
(4) Scope of estimates
The estimates under this section shall include the amount of change in outlays or receipts for the current year (if applicable), the budget year, and each outyear excluding any amounts resulting from—
The estimates under this section shall include the amount of change in outlays or receipts for the current year (if applicable), the budget year, and each outyear excluding any amounts resulting from—
(A) full funding of, and continuation of, the deposit insurance guarantee commitment in effect under current estimates; and
(A) full funding of, and continuation of, the deposit insurance guarantee commitment in effect under current estimates; and
(B) emergency provisions as designated under subsection (e) of this section.
(B) emergency provisions as designated under subsection (e) of this section.
(5) Scorekeeping guidelines
(5) Scorekeeping guidelines
OMB and CBO, after consultation with each other and the Committees on the Budget of the House of Representatives and the Senate, shall—
OMB and CBO, after consultation with each other and the Committees on the Budget of the House of Representatives and the Senate, shall—
(A) determine common scorekeeping guidelines; and
(A) determine common scorekeeping guidelines; and
(B) in conformance with such guidelines, prepare estimates under this section.
(B) in conformance with such guidelines, prepare estimates under this section.
If a provision of direct spending or receipts legislation is enacted that the President designates as an emergency requirement and that the Congress so designates in statute, the amounts of new budget authority, outlays, and receipts in all fiscal years resulting from that provision shall be designated as an emergency requirement in the reports required under subsection (d) of this section. This subsection shall not apply to direct spending provisions to cover agricultural crop disaster assistance.
If a provision of direct spending or receipts legislation is enacted that the President designates as an emergency requirement and that the Congress so designates in statute, the amounts of new budget authority, outlays, and receipts in all fiscal years resulting from that provision shall be designated as an emergency requirement in the reports required under subsection (d) of this section. This subsection shall not apply to direct spending provisions to cover agricultural crop disaster assistance.