S 1452 · 104th Congress · Economics and Public Finance

Taxpayer Protection Lock-box Act of 1995

Introduced 1995-12-06· Sponsored by Sen. Grams, Rod [R-MN]· Senate

Bill Progress

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Introduced
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Committee
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Senate Vote
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House
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Enacted
Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 258.(1995-12-07)

Plain Language Summary

[AI summary unavailable — showing source text] Taxpayer Protection Lock-box Act of 1995 - Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office (CBO) to establish a ledger to be known as the "Taxpayer Protection Lock-box Ledger." Requires the ledger to be divided into entries corresponding to the Appropriations Subcommittees. Requires each entry to consist of three parts: (1) the House Lock-box Balance; (2) the Senate Lock-box Balance; and (3) the Joint House-Senate Lock-box Balance. Limits components in an entry of the ledger to amounts credited to it and prohibits negative amounts from being made to the ledger. Sets forth provisions concerning the crediting of amounts of new budget authority and outlays to the applicable entry balance. (Sec. 3) Requires that a running tally of the amendments adopted which reflect increases and decreases of budget authority in the bill as reported be available to Members of Congress during consideration of any appropriations bill. (Sec. 4) Provides for the downward adjustment of allocations of new budget authority and outlays and the most recent suballocations of new budget authority and outlays. (Sec. 5) Requires periodic reporting of ledger st…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (4)

4 Republicans