S 359 · 106th Congress · Economics and Public Finance

Taxpayer Protection Lock-box Act of 1999

Introduced 1999-02-03· Sponsored by Sen. Grams, Rod [R-MN]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instuctions that if one Committee reports, the other Committee have thirty days to report or be discharged.(1999-02-03)

Plain Language Summary

[AI summary unavailable — showing source text] Taxpayer Protection Lock-box Act of 1999 - Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office (CBO) to maintain a Taxpayer Protection Lock-box Ledger which shall be divided into entries corresponding to the subcommittees of the Committees on Appropriations. 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. Requires the CBO Director, upon the engrossment of any appropriation bill by the House of Representatives and upon the engrossment of that bill by the Senate, to credit to the applicable entry balance of that House amounts of new budget authority and outlays equal to the net amounts of reductions in new budget authority and in outlays resulting from amendments agreed to by that House to that bill. Specifies the amounts to be credited to the Joint House-Senate Lock-box Balance. (Sec. 3) Requires a running tally to be available to Members of the House of Representatives and the Senate, during the consideration of any appropriations bill, of the amendments adopted reflecting increases and decreases of budget authority in s…

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

Cosponsors (1)

1 Republican