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2 U.S.C. § 655Off-budget agencies, programs, and activities

submitted 41 years ago by Pub. L. 93-344 to r/title-2-THE-CONGRESS · 155 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section requires certain activities that were off-budget to be included in the Federal budget and budget resolutions. It also treats Federal Financing Bank transactions for Federal-agency obligations as agency financing.

(a) Despite any other law, budget authority, credit authority, and estimates of outlays and receipts for Federal-budget activities that were off-budget immediately before December 12, 1985 must be included in the budget submitted under 31 U.S.C. 1105 and in a concurrent budget resolution reported under 2 U.S.C. 632 or 635. This excludes the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds. For this Act, the included items are treated as budget authority, outlays, and spending authority under this Act’s definitions. (b) All Federal Financing Bank receipts and payments involving obligations issued, sold, or guaranteed by a Federal agency must be treated as financing that agency for 31 U.S.C. 1105 and this Act.
the actual law source: uscode.house.gov ↗public domain
(a)

Notwithstanding any other provision of law, budget authority, credit authority, and estimates of outlays and receipts for activities of the Federal budget which are off-budget immediately prior to December 12, 1985, not including activities of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, shall be included in a budget submitted pursuant to section 1105 of title 31 and in a concurrent resolution on the budget reported pursuant to section 632 or section 635 of this title and shall be considered, for purposes of this Act, budget authority, outlays, and spending authority in accordance with definitions set forth in this Act.

(b)

All receipts and disbursements of the Federal Financing Bank with respect to any obligations which are issued, sold, or guaranteed by a Federal agency shall be treated as a means of financing such agency for purposes of section 1105 of title 31 and for purposes of this Act.

Source credit: (Pub. L. 93–344, title IV, § 405, formerly § 406, as added Pub. L. 99–177, title II, § 214, Dec. 12, 1985, 99 Stat. 1059; renumbered § 405, Pub. L. 105–33, title X, § 10116(c)(1), Aug. 5, 1997, 111 Stat. 692.)

history & why it existsrecord from the source credit
  • 1985Enacted · Pub. L. 93-344 · 99 Stat. 1059
  • 1997Amended · Pub. L. 105-33 · 111 Stat. 692

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-344 on 1985-12-12.

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