§655 — Title 2 The Congress | U.S. Code

Summary

Put into the federal budget any budget authority, credit authority, and estimates of spending and receipts for activities that were off-budget right before December 12, 1985, except the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds. These items must appear in the budget submitted under section 1105 of title 31 and in the concurrent budget resolution reported under section 632 or section 635, and must be counted as budget authority, outlays, and spending authority using this Act’s definitions. All money in and out of the Federal Financing Bank tied to obligations issued, sold, or guaranteed by a federal agency must be treated as that agency’s financing for purposes of section 1105 of title 31 and for this Act.

Title 2, §655

The Congress — Source: USLM XML via OLRC

(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.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This Act, referred to in text, means Pub. L. 93–344, July 12, 1974, 88 Stat. 297, known as the Congressional Budget and Impoundment Control Act of 1974, which enacted chapters 17, 17A, and 17B, and section 190a–3 of this title and section 11a, 11c, 11d, 1020a of former Title 31, Money and Finance, amended section 11, 665, 701, 1020, 1151, 1152, 1153, and 1154 of former Title 31, section 105 of Title 1, General Provisions, section 190b and 190d of this title, repealed section 571 and 581c–1 of former Title 31, and section 66 and 81 of this title, and enacted provisions set out as notes under section 190a–1, 621, 632, and 682 of this title, section 105 of Title 1, and section 1020 of former Title 31. For complete classification of this Act to the Code, see

Short Title

note set out under section 621 of this title and Tables.

Prior Provisions

A prior section 405 of Pub. L. 93–344 was renumbered section 404 and is classified to section 654 of this title.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective Dec. 12, 1985, and applicable with respect to fiscal years beginning after Sept. 30, 1985, see section 275(a)(1) of Pub. L. 99–177, formerly set out as an Effective and Termination Dates note under section 900 of this title prior to repeal by Pub. L. 112–25, title I, § 104(a), Aug. 2, 2011, 125 Stat. 246.

§655 Off-budget Agencies, Programs, and Activities