§ 621. — Congressional declaration of purpose.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 2USC621]
TITLE 2--THE CONGRESS
CHAPTER 17A--CONGRESSIONAL BUDGET AND FISCAL OPERATIONS
Sec. 621. Congressional declaration of purpose
The Congress declares that it is essential--
(1) to assure effective congressional control over the budgetary
process;
(2) to provide for the congressional determination each year of
the appropriate level of Federal revenues and expenditures;
(3) to provide a system of impoundment control;
(4) to establish national budget priorities; and
(5) to provide for the furnishing of information by the
executive branch in a manner that will assist the Congress in
discharging its duties.
(Pub. L. 93-344, Sec. 2, July 12, 1974, 88 Stat. 298.)
Codification
Section was formerly classified to section 1301 of Title 31 prior to
the general revision and enactment of Title 31, Money and Finance, by
Pub. L. 97-258, Sec. 1, Sept. 13, 1982, 96 Stat. 877.
Effective Date
Section 905 of Pub. L. 93-344 provided effective dates for Pub. L.
93-344 prior to repeal by Pub. L. 105-33, title X, Sec. 10120(a), Aug.
5, 1997, 111 Stat. 696.
Short Title of 1999 Amendment
Pub. L. 106-141, Sec. 1, Dec. 7, 1999, 113 Stat. 1699, provided
that: ``This Act [amending sections 658b and 658c of this title] may be
cited as the `State Flexibility Clarification Act'.''
Short Title of 1981 Amendment
Pub. L. 97-108, Sec. 1, Dec. 23, 1981, 95 Stat. 1510, provided:
``That this Act [amending section 653 of this title and enacting
provisions set out as notes under section 653 of this title] may be
cited as the `State and Local Government Cost Estimate Act of 1981'.''
Short Title
Section 1(a) of Pub. L. 93-344, as amended by Pub. L. 104-130,
Sec. 4(a), Apr. 9, 1996, 110 Stat. 1211, provided that: ``This Act
[enacting chapters 17, 17A and 17B, and section 190a-3 of this title,
and sections 11a, 11c, 11d, and 1020a of former Title 31, amending
section 105 of Title 1, General Provisions, sections 190b and 190d of
this title, and sections 11, 665, 701, 1020, and 1151, 1152, 1153, and
1154 of former Title 31, repealing sections 66 and 81 of this title, and
sections 571 and 581c-1 of former Title 31, and enacting provisions set
out as notes under sections 190a-1, 621, 632, and 682 of this title,
section 105 of Title 1, General Provisions, and 1020 of former Title 31]
may be cited as the `Congressional Budget and Impoundment Control Act of
1974'. Titles I through IX may be cited as the `Congressional Budget Act
of 1974'. Parts A and B of title X [enacting subchapters I and II of
chapter 17B of this title] may be cited as the `Impoundment Control Act
of 1974'. Part C of title X [enacting subchapter III of chapter 17B of
this title] may be cited as the `Line Item Veto Act of 1996'.''
Pub. L. 93-344, title V, Sec. 500, as added Pub. L. 101-508, title
XIII, Sec. 13201(a), Nov. 5, 1990, 104 Stat. 1388-609, provided that:
``This title [enacting subchapter III of this chapter] may be cited as
the `Federal Credit Reform Act of 1990'.''
Financial Safety and Soundness of Government-Sponsored Enterprises
Pub. L. 101-508, title XIII, Sec. 13501, Nov. 5, 1990, 104 Stat.
1388-628, provided that:
``(a) Definition.--For purposes of this section, the terms
`Government-sponsored enterprise' and `GSE' mean the Farm Credit System
(including the Farm Credit Banks, Banks for Cooperatives, and Federal
Agricultural Mortgage Corporation), the Federal Home Loan Bank System,
the Federal Home Loan Mortgage Corporation, the Federal National
Mortgage Association, and the Student Loan Marketing Association.
``(b) Treasury Department Study and Proposed Legislation.--
``(1) The Department of the Treasury shall prepare and submit to
Congress no later than April 30, 1991, a study of GSEs and
recommended legislation.
``(2) The study shall include an objective assessment of the
financial soundness of GSEs, the adequacy of the existing regulatory
structure for GSEs, the financial exposure of the Federal Government
posed by GSEs, and the effects of GSE activities on Treasury
borrowing.
``(c) Congressional Budget Office Study.--
``(1) The Congressional Budget Office shall prepare and submit
to Congress no later than April 30, 1991, a study of GSEs.
``(2) The study shall include an analysis of the financial risks
each GSE assumes, how Congress may improve its understanding of
those risks, the supervision and regulation of GSEs' risk
management, the financial exposure of the Federal Government posed
by GSEs, and the effects of GSE activities on Treasury borrowing.
The study shall also include an analysis of alternative models for
oversight of GSEs and of the costs and benefits of each alternative
model to the Government and to the markets and beneficiaries served
by GSEs.
``(d) Access to Relevant Information.--
``(1) For the studies required by this section, each GSE shall
provide full and prompt access to the Secretary of the Treasury and
the Director of the Congressional Budget Office to its books and
records and other information requested by the Secretary of the
Treasury or the Director of the Congressional Budget Office.
``(2) In preparing the studies required by this section, the
Secretary of the Treasury and the Director of the Congressional
Budget Office may request information from, or the assistance of,
any Federal department or agency authorized by law to supervise the
activities of a GSE.
``(e) Confidentiality of Relevant Information.--
``(1) The Secretary of the Treasury and the Director of the
Congressional Budget Office shall determine and maintain the
confidentiality of any book, record, or information made available
by a GSE under this section in a manner consistent with the level of
confidentiality established for the material by the GSE involved.
``(2) The Department of the Treasury shall be exempt from
section 552 of title 5, United States Code, for any book, record, or
information made available under subsection (d) and determined by
the Secretary of the Treasury to be confidential under this
subsection.
``(3) Any officer or employee of the Department of the Treasury
shall be subject to the penalties set forth in section 1906 of title
18, United States Code, if--
``(A) by virtue of his or her employment or official
position, he or she has possession of or access to any book,
record, or information made available under and determined to be
confidential under this section; and
``(B) he or she discloses the material in any manner other
than--
``(i) to an officer or employee of the Department of the
Treasury; or
``(ii) pursuant to the exception set forth in such
section 1906.
``(4) The Congressional Budget Office shall be exempt from
section 203 of the Congressional Budget Act of 1974 [2 U.S.C. 603]
with respect to any book, record, or information made available
under this subsection and determined by the Director to be
confidential under paragraph (1).
``(f) Requirement to Report Legislation.--(1) The committees of
jurisdiction in the House shall prepare and report to the House no later
than September 15, 1991, legislation to ensure the financial soundness
of GSEs and to minimize the possibility that a GSE might require future
assistance from the Government.
``(2) It is the sense of the Senate that the committees of
jurisdiction in the Senate shall prepare and report to the Senate no
later than September 15, 1991, legislation to ensure the financial
safety and soundness of GSEs and to minimize the possibility that a GSE
might require future assistance from the Government.
``(f) [sic] President's Budget.--The President's annual budget
submission shall include an analysis of the financial condition of the
GSEs and the financial exposure of the Government, if any, posed by
GSEs.''
Multiyear Authorizations and 2-Year Appropriations for Selected Agencies
and Accounts
Pub. L. 100-119, title II, Sec. 201, Sept. 29, 1987, 101 Stat. 784,
provided that: ``It is the sense of the Congress that the Congress
should undertake an experiment with multiyear authorizations and 2-year
appropriations for selected agencies and accounts. An evaluation of the
efficacy and desirability of such experiment should be conducted at the
end of the 2-year period. The appropriate committees are directed to
develop a plan in consultation with the leadership of the House and
Senate to implement this experiment.''
Financial Management Reform
Pub. L. 100-119, title II, Sec. 203, Sept. 29, 1987, 101 Stat. 784,
provided that: ``It is the sense of the Congress that the Congress
should undertake a coordinated effort to identify problems and develop
specific recommendations to reform the financial management systems of
the United States Government, including consideration of the use of
generally accepted accounting principles.''
Exercise of Congressional Rulemaking Power
Section 904 of Pub. L. 93-344, as amended by Pub. L. 99-177, title
II, Sec. 271(a), Dec. 12, 1985, 99 Stat. 1094; Pub. L. 101-508, title
XIII, Secs. 13112(a)(11), 13208(a), Nov. 5, 1990, 104 Stat. 1388-608,
1388-619; Pub. L. 104-130, Sec. 4(c), Apr. 9, 1996, 110 Stat. 1212; Pub.
L. 105-33, title X, Sec. 10119, Aug. 5, 1997, 111 Stat. 695, provided
that:
``(a) The provisions of this title and of titles I, III, IV, and V
and the provisions of sections 701, 703,, [sic] 1017, 1025, and 1027
[enacting this chapter (except subchapter IV) and sections 190a-3, 688,
691d, and 691f of this title, amending the Rules of the House of
Representatives and the Standing Rules of the Senate, and sections 190b
and 190d of this title, and enacting provisions set out as notes under
this section and sections 190a-1 and 632 of this title] are enacted by
the Congress--
``(1) as an exercise of the rulemaking power of the House of
Representatives and the Senate, respectively, and as such they shall
be considered as part of the rules of each House, respectively, or
of that House to which they specifically apply, and such rules shall
supersede other rules only to the extent that they are inconsistent
therewith; and
``(2) with full recognition of the constitutional right of
either House to change such rules (so far as relating to such House)
at any time, in the same manner, and to the same extent as in the
case of any other rule of such House.
``(b) Any provision of title III or IV [enacting subchapters I and
II of this chapter] may be waived or suspended in the Senate by a
majority vote of the Members voting, a quorum being present, or by the
unanimous consent of the Senate.
``(c) Waivers.--
``(1) Permanent.--Sections 305(b)(2), 305(c)(4), 306, 310(d)(2),
313, 904(c), and 904(d) of this Act [sections 636(b)(2), (c)(4),
637, 641(d)(2), and 644 of this title and subsecs. (c) and (d) of
this note] may be waived or suspended in the Senate only by the
affirmative vote of three-fifths of the Members, duly chosen and
sworn.
``(2) Temporary.--Sections 301(i), 302(c), 302(f), 310(g),
311(a), 312(b), and 312(c) of this Act [sections 632(i), 633(c),
(f), 641(g), 642(a), and 643(b), (c) of this title] and sections
258(a)(4)(C), 258A(b)(3)(C)(I) [(i)], 258B(f)(1), 258B(h)(1),
258(h)(3) [258B(h)(3)], 258C(a)(5), and 258C(b)(1) of the Balanced
Budget and Emergency Deficit Control Act of 1985 [sections
907a(a)(4)(C), 907b(b)(3)(C)(i), 907c(f)(1), (h)(1), (3), and
907d(a)(5), (b)(1) of this title] may be waived or suspended in the
Senate only by the affirmative vote of three-fifths of the Members,
duly chosen and sworn.
``(d) Appeals.--
``(1) Procedure.--Appeals in the Senate from the decisions of
the Chair relating to any provision of title III or IV [enacting
subchapters I and II of this chapter] or section 1017 [section 688
of this title] shall, except as otherwise provided therein, be
limited to 1 hour, to be equally divided between, and controlled by,
the mover and the manager of the resolution, concurrent resolution,
reconciliation bill, or rescission bill, as the case may be.
``(2) Permanent.--An affirmative vote of three-fifths of the
Members, duly chosen and sworn, shall be required in the Senate to
sustain an appeal of the ruling of the Chair on a point of order
raised under sections 305(b)(2), 305(c)(4), 306, 310(d)(2), 313,
904(c), and 904(d) of this Act [sections 636(b)(2), (c)(4), 637,
641(d)(2), 644 of this title and subsecs. (c) and (d) of this note].
``(3) Temporary.--An affirmative vote of three-fifths of the
Members, duly chosen and sworn, shall be required in the Senate to
sustain an appeal of the ruling of the Chair on a point of order
raised under sections 301(i), 302(c), 302(f), 310(g), 311(a),
312(b), and 312(c) of this Act and sections 258(a)(4)(C),
258A(b)(3)(C)(I) [(i)], 258B(f)(1), 258B(h)(1), 258(h)(3)
[258B(h)(3)], 258C(a)(5), and 258C(b)(1) of the Balanced Budget and
Emergency Deficit Control Act of 1985.
``(e) Expiration of Certain Supermajority Voting Requirements.--
Subsections (c)(2) and (d)(3) shall expire on September 30, 2002.''
Act Referred to in Other Sections
The Congressional Budget Act of 1974 is referred to in sections
907a, 907b, 907c, of this title; title 7 section 1446c-1; title 22
sections 2718, 4715; title 33 section 2326a; title 50 App. sections
1989b-8, 1989c-7.
The Congressional Budget and Impoundment Control Act of 1974 is
referred to in section 907a of this title; title 16 sections 544l, 1606;
title 22 sections 2295b, 5857; title 42 section 11303.