Line-Item Rescission Act of 1985

[AI summary unavailable — showing source text] Line-Item Rescission Act of 1985 - Amends the Congressional Budget and Impoundment Control Act of 1974 to allow the President to transmit to both Houses of the Congress, for expedited consideration, one or more special messages proposing to rescind all or part of any item of budget authority provided in the appropriation bill. Sets forth required contents of such special message. Requires that such special message must be transmitted on the same calendar day the President approves any appropriation bill and must be accompanied by a draft bill or joint resolution that would, if enacted, rescind the budget authority proposed to be rescinded. Sets forth House and Senate procedures for the expedited consideration of such a proposal. Requires the item of budget authority proposed to be rescinded to be made available for obligation unless both Houses adopt the bill rescinding such item within 60 days.…