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§ 622. —  Definitions.

[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 2USC622]

                          TITLE 2--THE CONGRESS
Sec. 622. Definitions

    For purposes of this Act--
        (1) The terms ``budget outlays'' and ``outlays'' mean, with 
    respect to any fiscal year, expenditures and net lending of funds 
    under budget authority during such year.
        (2) Budget authority and new budget authority.--
            (A) In general.--The term ``budget authority'' means the 
        authority provided by Federal law to incur financial 
        obligations, as follows:
                (i) provisions of law that make funds available for 
            obligation and expenditure (other than borrowing authority), 
            including the authority to obligate and expend the proceeds 
            of offsetting receipts and collections;
                (ii) borrowing authority, which means authority granted 
            to a Federal entity to borrow and obligate and expend the 
            borrowed funds, including through the issuance of promissory 
            notes or other monetary credits;
                (iii) contract authority, which means the making of 
            funds available for obligation but not for expenditure; and
                (iv) offsetting receipts and collections as negative 
            budget authority, and the reduction thereof as positive 
            budget authority.

            (B) Limitations on budget authority.--With respect to the 
        Federal Hospital Insurance Trust Fund, the Supplementary Medical 
        Insurance Trust Fund, the Unemployment Trust Fund, and the 
        railroad retirement account, any amount that is precluded from 
        obligation in a fiscal year by a provision of law (such as a 
        limitation or a benefit formula) shall not be budget authority 
        in that year.
            (C) New budget authority.--The term ``new budget authority'' 
        means, with respect to a fiscal year--
                (i) budget authority that first becomes available for 
            obligation in that year, including budget authority that 
            becomes available in that year s \1\ a result of a 
            reappropriation; or
    \1\ So in original. Probably should be ``as''.
                (ii) a change in any account in the availability of 
            unobligated balances of budget authority carried over from a 
            prior year, resulting from a provision of law first 
            effective in that year;

        and includes a change in the estimated level of new budget 
        authority provided in indefinite amounts by existing law.

        (3) The term ``tax expenditures'' means those revenue losses 
    attributable to provisions of the Federal tax laws which allow a 
    special exclusion, exemption, or deduction from gross income or 
    which provide a special credit, a preferential rate of tax, or a 
    deferral of tax liability; and the term ``tax expenditures budget'' 
    means an enumeration of such tax expenditures.
        (4) The term ``concurrent resolution on the budget'' means--
            (A) a concurrent resolution setting forth the congressional 
        budget for the United States Government for a fiscal year as 
        provided in section 632 of this title; and
            (B) any other concurrent resolution revising the 
        congressional budget for the United States Government for a 
        fiscal year as described in section 635 of this title.

        (5) The term ``appropriation Act'' means an Act referred to in 
    section 105 of title 1.
        (6) The term ``deficit'' means, with respect to a fiscal year, 
    the amount by which outlays exceeds \2\ receipts during that year.
    \2\ So in original. Probably should be ``exceed''.
        (7) The term ``surplus'' means, with respect to a fiscal year, 
    the amount by which receipts exceeds \2\ outlays during that year.
        (8) The term ``government-sponsored enterprise'' means a 
    corporate entity created by a law of the United States that--
            (A)(i) has a Federal charter authorized by law;
            (ii) is privately owned, as evidenced by capital stock owned 
        by private entities or individuals;
            (iii) is under the direction of a board of directors, a 
        majority of which is elected by private owners;
            (iv) is a financial institution with power to--
                (I) make loans or loan guarantees for limited purposes 
            such as to provide credit for specific borrowers or one 
            sector; and
                (II) raise funds by borrowing (which does not carry the 
            full faith and credit of the Federal Government) or to 
            guarantee the debt of others in unlimited amounts; and

            (B)(i) does not exercise powers that are reserved to the 
        Government as sovereign (such as the power to tax or to regulate 
        interstate commerce);
            (ii) does not have the power to commit the Government 
        financially (but it may be a recipient of a loan guarantee 
        commitment made by the Government); and
            (iii) has employees whose salaries and expenses are paid by 
        the enterprise and are not Federal employees subject to title 5.

        (9) The term ``entitlement authority'' means--
            (A) the authority to make payments (including loans and 
        grants), the budget authority for which is not provided for in 
        advance by appropriation Acts, to any person or government if, 
        under the provisions of the law containing that authority, the 
        United States is obligated to make such payments to persons or 
        governments who meet the requirements established by that law; 
            (B) the food stamp program.

        (10) The term ``credit authority'' means authority to incur 
    direct loan obligations or to incur primary loan guarantee 

(Pub. L. 93-344, Sec. 3, July 12, 1974, 88 Stat. 299; Aug. 1, 1946, ch. 
724, title I, Sec. 302(c), as added Aug. 30, 1954, ch. 1073, Sec. 1, as 
added Pub. L. 95-110, Sec. 1, Sept. 20, 1977, 91 Stat. 884, renumbered 
title I, Pub. L. 102-486, title IX, Sec. 902(a)(8), Oct. 24, 1992, 106 
Stat. 2944; Pub. L. 99-177, title II, Secs. 201(a), 232(b), Dec. 12, 
1985, 99 Stat. 1039, 1062; Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 
Stat. 2095; Pub. L. 100-119, title I, Sec. 106(a), Sept. 29, 1987, 101 
Stat. 780; Pub. L. 100-203, title VIII, Sec. 8003(c), Dec. 22, 1987, 101 
Stat. 1330-282; Pub. L. 101-508, title XIII, Secs. 13112(a)(2), 
13201(b)(1), 13211(a), Nov. 5, 1990, 104 Stat. 1388-607, 1388-614, 1388-
620; Pub. L. 105-33, title X, Sec. 10101, Aug. 5, 1997, 111 Stat. 678.)

                       References in Text

    This Act, referred to in text, means Pub. L. 93-344, July 12, 1974, 
88 Stat. 297, as amended, 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 sections 11a, 11c, 11d, 1020a of 
former Title 31, Money and Finance, amended sections 11, 665, 701, 1020, 
1151, 1152, 1153, and 1154 of former Title 31, section 105 of Title 1, 
General Provisions, sections 190b and 190d of this title, repealed 
sections 571 and 581c-1 of former Title 31, and sections 66 and 81 of 
this title, and enacted provisions set out as notes under sections 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 


    Section was formerly classified to section 1302 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.


    1997--Par. (9). Pub. L. 105-33 amended par. (9) generally. Prior to 
amendment, par. (9) read as follows: ``The term `entitlement authority' 
means spending authority described by section 651(c)(2)(C) of this 
    1990--Par. (2). Pub. L. 101-508, Sec. 13211(a), amended par. (2) 
generally. Prior to amendment, par. (2) read as follows: ``The term 
`budget authority' means authority provided by law to enter into 
obligations which will result in immediate or future outlays involving 
Government funds or to collect offsetting receipts., except that such 
term does not include authority to insure or guarantee the repayment of 
indebtedness incurred by another person or government. The term includes 
the cost for direct loan and loan guarantee programs, as those terms are 
defined by subchapter III of this chapter''.
    Pub. L. 101-508, Sec. 13201(b)(1), inserted at end: ``The term 
includes the cost for direct loan and loan guarantee programs, as those 
terms are defined by subchapter III of this chapter''.
    Pars. (6) to (8). Pub. L. 101-508, Sec. 13112(a)(2), added pars. (6) 
to (8) and struck out former par. (6) which defined ``deficit'' and 
contained provisions relating to calculation of the deficit, former par. 
(7) which defined ``maximum deficit amount'', and former par. (8) which 
defined ``off-budget Federal entity''.
    1987--Par. (7)(C). Pub. L. 100-203, Sec. 8003(c)(1), (2), 
redesignated subpar. (D) as (C). Former subpar. (C), which provided for 
maximum deficit amount of $108,000,000,000 for fiscal year beginning 
Oct. 1, 1987, was struck out.
    Par. (7)(D) to (I). Pub. L. 100-203, Sec. 8003(c)(2)-(7), 
redesignated subpars. (E) to (I) as (D) to (H), respectively. Former 
subpar. (D) redesignated (C).
    Pub. L. 100-119 inserted subpars. (D) to (I) and struck out former 
subpars. (D) to (F) which read as follows:
        ``(D) with respect to the fiscal year beginning October 1, 1988, 
        ``(E) with respect to the fiscal year beginning October 1, 1989, 
    $36,000,000,000; and
        ``(F) with respect to the fiscal year beginning October 1, 1990, 
    1986--Par. (6). Pub. L. 99-514 substituted ``Internal Revenue Code 
of 1986'' for ``Internal Revenue Code of 1954'', which for purposes of 
codification was translated as ``title 26'' thus requiring no change in 
    1985--Par. (2). Pub. L. 99-177, Sec. 201(a)(2), inserted reference 
to the collection of offsetting receipts, effective Apr. 15, 1986.
    Par. (4). Pub. L. 99-177, Sec. 232(b), struck out subpar. (B) 
relating to concurrent resolutions as provided in section 641 of this 
title, and redesignated subpar. (C) as (B).
    Pars. (6) to (10). Pub. L. 99-177, Sec. 201(a)(1), added pars. (6) 
to (10).
    1977--Pub. L. 95-110 struck out designation ``(a)'' before ``For the 
purpose of this chapter'' and struck out subsec. (b) which provided that 
Members of the respective Houses of Congress who were members of the 
Joint Committee on Atomic Energy were to be treated as standing 
committees of their respective Houses of Congress.

                    Effective Date of 1990 Amendment

    Section 13211(b) of Pub. L. 101-508 provided that: ``The amendment 
made by subsection (a) [amending this section] shall be effective for 
fiscal year 1992 and subsequent fiscal years.''

                    Effective Date of 1985 Amendment

    Amendment by sections 201(a)(1) and 232(b) of Pub. L. 99-177 
effective Dec. 12, 1985, and applicable with respect to fiscal years 
beginning after Sept. 30, 1985, and amendment by section 201(a)(2) of 
Pub. L. 99-177 effective Apr. 15, 1986, see section 275(a)(1), (2)(A) of 
Pub. L. 99-177, as amended, set out as an Effective and Termination 
Dates note under section 900 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 900, 1602 of this title; 
title 39 section 2009a; title 50 section 403f.

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