#aac? ,,congress  #b;d ,session  ,h4 ,r4
 #ahgb  ,,an ,,act  ,to am5d ! ,balanc$ 
,budget & ,em]g5cy ,deficit ,control    
,act ( #aihe to increase transp>5cy 9   
,f$]al budget+1 & = o!r purposes4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,budget & ,acc\nt+ ,transp>5cy ,act (   
#bjad4  ,i ,fair value e/imates  #aja4  
,cr$it re=m  7a7 ,9 g5]al ,title ,v ( ! 
,congressional ,budget ,act ( #aigd is  
am5d$ to read z foll[s3  ,v ,fair value 
#ejj4 ,%ort title ,?is title may be cit$
 z ! ,fair ,value ,acc\nt+ ,act ( #bjad4
  #eja4 ,purposes ,! purposes ( ?is     
title are to--  7#a7 measure m          
accurately ! co/s ( ,f$]al cr$it        
programs by acc\nt+ = !m on a fair value
 basis2  7#b7 place ! co/ ( cr$it       
programs on a budget>y basis equival5t  
to o!r ,f$]al sp5d+2  7#c7 enc\rage !   
deliv]y ( b5efits 9 ! =m mo/ appropriate
 to ! ne$s ( b5efici>ies2 &  7#d7       
improve ! allocation ( res\rces among   
,f$]al programs4  #ejb4 ,def9itions ,=  
purposes ( ?is title3  7#a7 ,! t]m      

direct loan means a disbursem5t ( funds 
by ! ,gov]nm5t to a non-,f$]al borr[] "u
 a contract t requires ! repaym5t ( su* 
funds ) or )\t int]e/4 ,! t]m includes !
 pur*ase (1 or p>ticipation 91 a loan   
made by ano!r l5d] & f9anc+ arrangem5ts 
t def] paym5t = m ?an #ij days1 includ+ 
! sale ( a ,gov]nm5t asset on cr$it     
t]ms4 ,! t]m does n include !           
acquisition ( a f$]ally gu>ante$ loan 9 
satisfaction ( default claims or ! price
 support loans ( ! ,commodity ,cr$it    
,corporation4  7#b7 ,! t]m direct loan  
obligation means a b9d+ agreem5t by a   
,f$]al ag5cy to make a direct loan :5   
specifi$ conditions are fulfill$ by !   
borr[]4  7#c7 ,! t]m loan gu>antee means
 any gu>antee1 insurance1 or o!r pl$ge )
 respect to ! paym5t ( all or a "p ( !  
pr9cipal or int]e/ on any debt          
obligation ( a non-,f$]al borr[] to a   
non-,f$]al l5d]1 b does n include !     
insurance ( deposits1 %>es1 or o!r      
)drawable acc\nts 9 f9ancial            
in/itutions4  7#d7 ,! t]m loan gu>antee 

commitm5t means a b9d+ agreem5t by a    
,f$]al ag5cy to make a loan gu>antee :5 
specifi$ conditions are fulfill$ by !   
borr[]1 ! l5d]1 or any o!r p>ty to !    
gu>antee agreem5t4  7#e7  7,a7 ,! t]m   
co/ means ! sum ( ! ,treasury disc\nt+  
compon5t & ! risk compon5t ( a direct   
loan or loan gu>antee1 or a modification
 !re(4  7,b7 ,! ,treasury disc\nt+      
compon5t %all be ! e/imat$ long-t]m co/ 
to ! ,gov]nm5t ( a direct loan or loan  
gu>antee1 or modification !re(1         
calculat$ on a net pres5t value basis1  
exclud+ adm9i/rative co/s & any         
incid5tal effects on gov]nm5tal receipts
 or outlays4  7,c7 ,! risk compon5t %all
 be an am\nt equal to ! diff]5ce        
betwe5--  7i7 ! e/imat$ long-t]m co/ to 
! ,gov]nm5t ( a direct loan or loan     
gu>antee1 or modification !re(1 e/imat$ 
on a fair value basis1 apply+ !         
guidel9es set =? by ! ,f9ancial ,acc\nt+
 ,/&>ds ,bo>d 9 ,f9ancial ,acc\nt+      
,/&>ds #aeg1 or a successor !reto1      
exclud+ adm9i/rative co/s & any         

incid5tal effects on gov]nm5tal receipts
 or outlays2 &  7ii7 ! ,treasury        
disc\nt+ compon5t ( su* direct loan or  
loan gu>antee1 or modification !re(4    
7,d7 ,! ,treasury disc\nt+ compon5t ( a 
direct loan %all be ! net pres5t value1 
at ! "t :5 ! direct loan is disburs$1 ( 
! foll[+ e/imat$ ca% fl[s3  7i7 ,loan   
disbursem5ts4  7ii7 ,repaym5ts (        
pr9cipal4  7iii7 ,ess5tial pres]vation  
exp5ses1 paym5ts ( int]e/ & o!r paym5ts 
by or to ! ,gov]nm5t ov] ! life ( ! loan
 aft] adju/+ = e/imat$ defaults1        
prepaym5ts1 fees1 p5alties1 & o!r       
recov]ies1 includ+ ! effects ( *anges 9 
loan t]ms result+ f ! ex]cise by !      
borr[] ( an option includ$ 9 ! loan     
contract4  7,e7 ,! ,treasury disc\nt+   
compon5t ( a loan gu>antee %all be ! net
 pres5t value1 at ! "t :5 ! gu>ante$    
loan is disburs$1 ( ! foll[+ e/imat$ ca%
 fl[s3  7i7 ,paym5ts by ! ,gov]nm5t to  
cov] defaults & del9qu5cies1 int]e/     
subsidies1 ess5tial pres]vation exp5ses1
 or o!r paym5ts4  7ii7 ,paym5ts to !    

,gov]nm5t includ+ orig9ation & o!r fees1
 p5alties1 & recov]ies1 includ+ !       
effects ( *anges 9 loan t]ms result+ f !
 ex]cise by ! gu>ante$ l5d] ( an option 
includ$ 9 ! loan gu>antee contract1 or  
by ! borr[] ( an option includ$ 9 !     
gu>ante$ loan contract4  7,f7 ,! co/ ( a
 modification is ! sum (--  7i7 !       
diff]5ce betwe5 ! curr5t e/imate ( !    
,treasury disc\nt+ compon5t ( ! rema9+  
ca% fl[s "u ! t]ms ( a direct loan or   
loan gu>antee & ! curr5t e/imate ( !    
,treasury disc\nt+ compon5t ( ! rema9+  
ca% fl[s "u ! t]ms ( ! contract1 z      
modifi$2 &  7ii7 ! diff]5ce betwe5 !    
curr5t e/imate ( ! risk compon5t ( !    
rema9+ ca% fl[s "u ! t]ms ( a direct    
loan or loan gu>antee & ! curr5t e/imate
 ( ! risk compon5t ( ! rema9+ ca% fl[s  
"u ! t]ms ( ! contract z modifi$4  7,g7 
,9 e/imat+ ,treasury disc\nt+ compon5ts1
 ! disc\nt rate %all be ! av]age int]e/ 
rate on m>ketable ,treasury securities (
 simil> duration to ! ca% fl[s ( !      
direct loan or loan gu>antee = :i* !    

e/imate is be+ made4  7,h7 ,:5 funds are
 obligat$ = a direct loan or loan       
gu>antee1 ! e/imat$ co/ %all be bas$ on 
! curr5t assumptions1 adju/$ to         
incorporate ! t]ms ( ! loan contract1 = 
! fiscal ye> 9 :i* ! funds are obligat$4
  7#f7 ,! t]m program acc\nt means !    
budget acc\nt into :i* an appropriation 
to cov] ! co/ ( a direct loan or loan   
gu>antee program is made & f :i* su* co/
 is disburs$ to ! f9anc+ acc\nt4  7#g7  
,! t]m f9anc+ acc\nt means ! nonbudget  
acc\nt or acc\nts associat$ ) ea*       
program acc\nt :i* holds balances1      
receives ! co/ paym5t f ! program       
acc\nt1 & also includes all o!r ca% fl[s
 to & f ! ,gov]nm5t result+ f direct    
loan obligations or loan gu>antee       
commitm5ts made on or aft] ,octob] #a1  
#aiia4  7#h7 ,! t]m liquidat+ acc\nt    
means ! budget acc\nt t includes all ca%
 fl[s to & f ! ,gov]nm5t result+ f      
direct loan obligations or loan gu>antee
 commitm5ts made prior to ,octob] #a1   
#aiia4 ,^! acc\nts %all be %[n 9 !      

budget on a ca% basis4  7#i7 ,! t]m     
modification means any ,gov]nm5t action 
t alt]s ! e/imat$ co/ ( an out/&+ direct
 loan 7or direct loan obligation7 or an 
out/&+ loan gu>antee 7or loan gu>antee  
commitm5t7 f ! curr5t e/imate ( ca%     
fl[s4 ,?is includes ! sale ( loan       
assets1 ) or )\t rec\rse1 & ! pur*ase ( 
gu>ante$ loans 7or direct loan          
obligations7 or loan gu>antees 7or loan 
gu>antee commitm5ts7 su* z a *ange 9    
collection proc$ures4  7#aj7 ,! t]m     
curr5t has ! same mean+ z 9 section     
#bej7;c77#i7 ( ! ,balanc$ ,budget &     
,em]g5cy ,deficit ,control ,act ( #aihe4
  7#aa7 ,! t]m ,director means !        
,director ( ! ,(fice ( ,managem5t &     
,budget4  7#ab7 ,! t]m adm9i/rative co/s
 means co/s relat$ to program managem5t 
activities1 b does n include ess5tial   
pres]vation exp5ses4  7#ac7 ,! t]m      
ess5tial pres]vation exp5ses means      
s]vic+ & o!r co/s t are ess5tial to     
pres]ve ! value ( loan assets or        
collat]al4  #ejc4 ,,omb & ,,cbo         

analysis1 coord9ation1 & review  7a7 ,9 
g5]al ,= ! executive bran*1 ! ,director 
%all be responsible = coord9at+ !       
e/imates requir$ by ?is title4 ,!       
,director %all consult ) ! ag5cies t    
adm9i/] direct loan or loan gu>antee    
programs4  7b7 ,delegation ,! ,director 
may delegate to ag5cies au?ority to make
 e/imates ( co/s4 ,! delegation (       
au?ority %all be bas$ ^u writt5         
guidel9es1 regulations1 or crit]ia      
consi/5t ) ! def9itions 9 ?is title4    
7c7 ,coord9ation ) ! ,congressional     
,budget ,(fice ,9 develop+ e/imation    
guidel9es1 regulations1 or crit]ia to be
 us$ by ,f$]al ag5cies1 ! ,director %all
 consult ) ! ,director ( !              
,congressional ,budget ,(fice4  7d7     
,improv+ co/ e/imates ,! ,director & !  
,director ( ! ,congressional ,budget    
,(fice %all coord9ate ! developm5t ( m  
accurate data on hi/orical p]=mance &   
prospective risk ( direct loan & loan   
gu>antee programs4 ,!y %all annually    
review ! p]=mance ( out/&+ direct loans 

& loan gu>antees to improve e/imates (  
co/s4 ,! ,(fice ( ,managem5t & ,budget &
 ! ,congressional ,budget ,(fice %all h 
access to all ag5cy data t may          
facilitate ! developm5t & improvem5t (  
e/imates ( co/s4  7e7 ,hi/orical cr$it  
programs co/s ,! ,director %all review1 
to ! ext5t possible1 hi/orical data &   
develop ! be/ possible e/imates (       
adju/m5ts t w\ld conv]t aggregate       
hi/orical budget data to cr$it re=m     
acc\nt+4  #ejd4 ,budget>y treatm5t  7a7 
,presid5t's budget ,beg9n+ ) fiscal ye> 
#bjag1 ! ,presid5t's budget %all reflect
 ! co/s ( direct loan & loan gu>antee   
programs4 ,! budget %all also include ! 
plann$ level ( new direct loan          
obligations or loan gu>antee commitm5ts 
associat$ ) ea* appropriations reque/4  
,= ea* fiscal ye> )9 ! five-fiscal ye>  
p]iod beg9n+ ) fiscal ye> #bjag1 su*    
budget %all include1 on an              
ag5cy-by-ag5cy basis1 subsidy e/imates &
 co/s ( direct loan & loan gu>antee     
programs ) & )\t ! risk compon5t4  7b7  

,appropriations requir$ ,not)/&+ any o!r
 provision ( law1 new direct loan       
obligations may be incurr$ & new loan   
gu>antee commitm5ts may be made = fiscal
 ye> #bjag & !reaft] only to ! ext5t t--
  7#a7 new budget au?ority to cov] _!   
co/s is provid$ 9 advance 9 an          
appropriation ,act2  7#b7 a limitation  
on ! use ( funds o!rwise available = !  
co/ ( a direct loan or loan gu>antee    
program has be5 provid$ 9 advance 9 an  
appropriation ,act2 or  7#c7 au?ority is
 o!rwise provid$ 9 appropriation ,acts4 
7c7 ,exemption = direct sp5d+ programs  
,subsections 7b7 & 7e7 %all n apply to--
  7#a7 any direct loan or loan gu>antee 
program t con/itutes an entitlem5t 7su* 
z ! gu>ante$ /ud5t loan program or !    
vet]an's home loan gu>anty program72    
7#b7 ! cr$it programs ( ! ,commodity    
,cr$it ,corporation exi/+ on ! date (   
enactm5t ( ?is title2 or  7#c7 any      
direct loan 7or direct loan obligation7 
or loan gu>antee 7or loan gu>antee      
commitm5t7 made by ! ,f$]al ,national   

,mortgage ,association or ! ,f$]al ,home
 ,loan ,mortgage ,corporation4  7d7     
,budget acc\nt+  7#a7 ,! au?ority to    
incur new direct loan obligations1 make 
new loan gu>antee commitm5ts1 or modify 
out/&+ direct loans 7or direct loan     
obligations7 or loan gu>antees 7or loan 
gu>antee commitm5ts7 %all con/itute new 
budget au?ority 9 an am\nt equal to !   
co/ ( ! direct loan or loan gu>antee 9 !
 fiscal ye> 9 :i* def9ite au?ority      
becomes available or indef9ite au?ority 
is us$4 ,su* budget au?ority %all       
con/itute an obligation ( ! program     
acc\nt to pay to ! f9anc+ acc\nt4  7#b7 
,! outlays result+ f new budget au?ority
 = ! co/ ( direct loans or loan         
gu>antees describ$ 9 p>agraph 7#a7 %all 
be paid f ! program acc\nt into ! f9anc+
 acc\nt & record$ 9 ! fiscal ye> 9 :i* !
 direct loan or ! gu>ante$ loan is      
disburs$ or its co/s alt]$4  7#c7 ,all  
collections & paym5ts ( ! f9anc+ acc\nts
 %all be a means ( f9anc+4  7e7         
,modifications ,an out/&+ direct loan   

7or direct loan obligation7 or loan     
gu>antee 7or loan gu>antee commitm5t7   
%all n be modifi$ 9 a mann] t increases 
its co/s unless budget au?ority = !     
additional co/ has be5 provid$ 9 advance
 9 an appropriation ,act4  7f7          
,ree/imates ,:5 ! e/imat$ co/ = a gr\p (
 direct loans or loan gu>antees = a giv5
 program made 9 a s+le fiscal ye> is    
re-e/imat$ 9 a subsequ5t ye>1 ! diff]5ce
 betwe5 ! ree/imat$ co/ & ! previ\s co/ 
e/imate %all be display$ z a di/9ct &   
sep>ately id5tifi$ subacc\nt 9 ! program
 acc\nt z a *ange 9 program co/s & a    
*ange 9 net int]e/4 ,!re is h]eby       
provid$ p]man5t indef9ite au?ority = ^! 
re-e/imates4  7g7 ,adm9i/rative exp5ses 
,all fund+ = an ag5cy's adm9i/rative    
co/s associat$ ) a direct loan or loan  
gu>antee program %all be display$ z     
di/9ct & sep>ately id5tifi$ subacc\nts  
)9 ! same budget acc\nt z ! program's   
co/4  #eje4 ,au?orizations  7a7         
,au?orization = f9anc+ acc\nts ,9 ord]  
to implem5t ! acc\nt+ requir$ by ?is    

title1 ! ,presid5t is au?oriz$ to       
e/abli% su* non-budget>y acc\nts z may  
be appropriate4  7b7 ,treasury          
transactions ) ! f9anc+ acc\nts  7#a7 ,9
 g5]al ,! ,secret>y ( ! ,treasury %all  
borr[ f1 receive f1 l5d to1 or pay to ! 
f9anc+ acc\nts su* am\nts z may be      
appropriate4 ,! ,secret>y ( ! ,treasury 
may prescribe =ms & d5om9ations1        
maturities1 & t]ms & conditions = !     
transactions describ$ 9 ! prec$+ s5t5ce1
 except t ! rate ( int]e/ *>g$ by !     
,secret>y on l5d+ to f9anc+ acc\nts     
7includ+ am\nts treat$ z l5d+ to f9anc+ 
acc\nts by ! ,f$]al ,f9anc+ ,bank       
7h]e9aft] 9 ?is subsection ref]r$ to z !
 ,bank7 pursuant to section #dje7;b77 & 
! rate ( int]e/ paid to f9anc+ acc\nts  
on un9ve/$ balances 9 f9anc+ acc\nts    
%all be ! same z ! rate det]m9$ pursuant
 to section #ejb7e77;,g74  7#b7 ,loans  
,= gu>ante$ loans f9anc$ by ! ,bank &   
treat$ z direct loans by a ,f$]al ag5cy 
pursuant to section #djf7;b77#a71 any   
fee or int]e/ sur*>ge 7! am\nt by :i* ! 

int]e/ rate *>g$ exce$s ! rate det]m9$  
pursuant to section #ejb7e77;,g7 t !    
,bank *>ges to a private borr[] pursuant
 to section #f7;c7 ( ! ,f$]al ,f9anc+   
,bank ,act ( #aigc %all be consid]$ a   
ca% fl[ to ! ,gov]nm5t = ! purposes (   
det]m9+ ! co/ ( ! direct loan pursuant  
to section #ejb7e74 ,all su* am\nts %all
 be cr$it$ to ! appropriate f9anc+      
acc\nt4  7#c7 ,reimbursem5t ,! ,bank is 
au?oriz$ to require reimbursem5t f a    
,f$]al ag5cy to cov] ! adm9i/rative     
exp5ses ( ! ,bank t are attributable to 
! direct loans f9anc$ = t ag5cy4 ,all   
su* paym5ts by an ag5cy %all be consid]$
 adm9i/rative exp5ses subject to section
 #ejd7;g74 ,?is subsection %all apply to
 transactions relat$ to direct loan     
obligations or loan gu>antee commitm5ts 
made on or aft] ,octob] #a1 #aiia4  7#d7
 ,au?ority ,! au?orities provid$ 9 ?is  
subsection %all n be con/ru$ to sup]s$e 
or ov]ride ! au?ority ( ! head ( a      
,f$]al ag5cy to adm9i/] & op]ate a      
direct loan or loan gu>antee program4   

7#e7 ,title #ca ,all ( ! transactions   
provid$ 9 ! subsection %all be subject  
to ! provisions ( sub*apt] ,,ii ( *apt] 
#ae ( title #ca1 ,unit$ ,/ates ,code4   
7#f7 ,treatm5t ( ca% balances ,ca%      
balances ( ! f9anc+ acc\nts 9 excess (  
curr5t requirem5ts %all be ma9ta9$ 9 a  
=m ( un9ve/$ funds & ! ,secret>y ( !    
,treasury %all pay int]e/ on ^! funds4  
,! ,secret>y ( ! ,treasury %all *>ge 7or
 pay if ! am\nt is negative7 f9anc+     
acc\nts an am\nt equal to ! risk        
compon5t = a direct loan or loan        
gu>antee1 or modification !re(4 ,su*    
am\nt receiv$ by ! ,secret>y ( !        
,treasury %all be a means ( f9anc+ &    
%all n be consid]$ a ca% fl[ ( !        
,gov]nm5t = ! purposes ( section        
#ejb7e74  7c7 ,au?orization = liquidat+ 
acc\nts  7#a7 ,am\nts 9 liquidat+       
acc\nts %all be available only = paym5ts
 result+ f direct loan obligations or   
loan gu>antee commitm5ts made prior to  
,octob] #a1 #aiia1 =--  7,a7 int]e/     
paym5ts & pr9cipal repaym5ts to !       

,treasury or ! ,f$]al ,f9anc+ ,bank =   
am\nts borr[$2  7,b7 disbursem5ts (     
loans2  7,c7 default & o!r gu>antee     
claim paym5ts2  7,d7 int]e/ supplem5t   
paym5ts2  7,e7 paym5ts = ! co/s (       
=eclos+1 manag+1 & sell+ collat]al t are
 capitaliz$ or r\t9ely d$uct$ f !       
proce$s ( sales2  7,f7 paym5ts to f9anc+
 acc\nts :5 requir$ = modifications2    
7,g7 adm9i/rative co/s & ess5tial       
pres]vation exp5ses1 if--  7i7 am\nts   
cr$it$ to ! liquidat+ acc\nt w\ld h be5 
available = adm9i/rative co/s & ess5tial
 pres]vation exp5ses "u a provision (   
law 9 effect prior to ,octob] #a1 #aiia2
 &  7ii7 no direct loan obligation or   
loan gu>antee commitm5t has be5 made1 or
 any modification ( a direct loan or    
loan gu>antee has be5 made1 s9ce        
,septemb] #cj1 #aiia2 or  7,h7 su* o!r  
paym5ts z are necess>y = ! liquidation (
 su* direct loan obligations & loan     
gu>antee commitm5ts4  7#b7 ,am\nts      
cr$it$ to liquidat+ acc\nts 9 any ye>   
%all be available only = paym5ts requir$

 9 t ye>4 ,any unobligat$ balances 9    
liquidat+ acc\nts at ! end ( a fiscal   
ye> %all be transf]r$ to miscellane\s   
receipts z soon z practicable aft] ! end
 ( ! fiscal ye>4  7#c7 ,if funds 9      
liquidat+ acc\nts are insuffici5t to    
satisfy obligations & commitm5ts ( su*  
acc\nts1 !re is h]eby provid$ p]man5t1  
indef9ite au?ority to make any paym5ts  
requir$ to be made on su* obligations & 
commitm5ts4  7d7 ,re9surance ,no?+ 9 ?is
 title %all be con/ru$ z au?oriz+ or    
requir+ ! pur*ase ( insurance or        
re9surance on a direct loan or loan     
gu>antee f private insur]s4 ,if any su* 
re9surance = a direct loan or loan      
gu>antee is au?oriz$1 ! co/ ( su*       
insurance & any recov]ies to ! ,gov]nm5t
 %all be includ$ 9 ! calculation ( !    
co/4  7e7 ,eligibility & assi/ance ,no?+
 9 ?is title %all be con/ru$ to *ange ! 
au?ority or ! responsibility ( a ,f$]al 
ag5cy to det]m9e ! t]ms & conditions (  
eligibility =1 or ! am\nt ( assi/ance   
provid$ by a direct loan or a loan      

gu>antee4  #ejf4 ,treatm5t ( deposit    
insurance & ag5cies & o!r insurance     
programs ,?is title %all n apply to !   
cr$it or insurance activities ( ! ,f$]al
 ,deposit ,insurance ,corporation1      
,national ,cr$it ,union ,adm9i/ration1  
,resolution ,tru/ ,corporation1 ,p5sion 
,b5efit ,gu>anty ,corporation1 ,national
 ,flood ,insurance1 ,national ,insurance
 ,developm5t ,fund1 ,crop ,insurance1 or
 ,t5nessee ,valley ,au?ority4  #ejg4    
,effect on o!r laws  7a7 ,effect on o!r 
laws ,?is title %all sup]s$e1 modify1 or
 repeal any provision ( law enact$ prior
 to ! date ( enactm5t ( ?is title to !  
ext5t su* provision is inconsi/5t ) ?is 
title4 ,no?+ 9 ?is title %all be con/ru$
 to e/abli% a cr$it limitation on any   
,f$]al loan or loan gu>antee program4   
7b7 ,cr$it+ ( collections ,collections  
result+ f direct loans obligat$ or loan 
gu>antees committ$ prior to ,octob] #a1 
#aiia1 %all be cr$it$ to ! liquidat+    
acc\nts ( ,f$]al ag5cies4 ,am\nts s     
cr$it$ %all be available1 to ! same     

ext5t t !y 7 available prior to ! date (
 enactm5t ( ?is title1 to liquidate     
obligations aris+ f su* direct loans    
obligat$ or loan gu>antees committ$     
prior to ,octob] #a1 #aiia1 includ+     
repaym5t ( any obligations held by !    
,secret>y ( ! ,treasury or ! ,f$]al     
,f9anc+ ,bank4 ,! unobligat$ balances ( 
su* acc\nts t are 9 excess ( curr5t ne$s
 %all be transf]r$ to ! g5]al fund ( !  
,treasury4 ,su* transf]s %all be made f 
"t to "t b1 at lea/ once ea* ye>4  4    
7b7 ,con=m+ am5dm5t ,! table ( cont5ts  
set =? 9 section #a7;b7 ( !             
,congressional ,budget & ,imp\ndm5t     
,control ,act ( #aigd is am5d$ by /rik+ 
! items relat+ to title ,v & ins]t+ !   
foll[+3  ,title ,v--,fair value ,sec4   
#ejj4 ,%ort title4 ,sec4 #eja4          
,purposes4 ,sec4 #ejb4 ,def9itions4     
,sec4 #ejc4 ,,omb & ,,cbo analysis1     
coord9ation1 & review4 ,sec4 #ejd4      
,budget>y treatm5t4 ,sec4 #eje4         
,au?orizations4 ,sec4 #ejf4 ,treatm5t ( 
deposit insurance & ag5cies & o!r       

insurance programs4 ,sec4 #ejg4 ,effect 
on o!r laws4  4  #ajb4 ,budget>y        
adju/m5t  7a7 ,9 g5]al ,section         
#bea7;b77#a7 ( ! ,balanc$ ,budget &     
,em]g5cy ,deficit ,control ,act ( #aihe 
is am5d$ by add+ at ! end ! foll[+ new  
s5t5ce3 ,a *ange 9 discretion>y sp5d+   
solely z a result ( ! am5dm5t to title  
,v ( ! ,congressional ,budget ,act (    
#aigd made by ! ,budget & ,acc\nt+      
,transp>5cy ,act ( #bjad %all be treat$ 
z a *ange ( concept "u ?is p>agraph44   
7b7 ,report ,be=e adju/+ ! discretion>y 
caps pursuant to ! au?ority provid$ 9   
subsection 7a71 ! ,(fice ( ,managem5t & 
,budget %all report to ! ,committees on 
! ,budget ( ! ,h\se ( ,repres5tatives & 
! ,s5ate on ! am\nt ( t adju/m5t1 !     
me?odology us$ 9 det]m9+ ! size ( t     
adju/m5t1 & a program-by-program        
itemization ( ! compon5ts ( t adju/m5t4 
7c7 ,s*$ule ,! ,(fice ( ,managem5t &    
,budget %all n make an adju/m5t pursuant
 to ! au?ority provid$ 9 subsection 7a7 
soon] ?an #fj days aft] provid+ ! report

 requir$ 9 subsection 7b74  #ajc4       
,effective date ,! am5dm5ts made by     
section #aja %all take effect beg9n+ )  
fiscal ye> #bjag4  ,,ii ,budget>y       
treatm5t  #bja4 ,,cbo & ,,omb /udies    
respect+ budget+ = co/s ( ,f$]al        
insurance programs ,n lat] ?an #a ye>   
aft] ! date ( enactm5t ( ?is ,act1 !    
,directors ( ! ,congressional ,budget   
,(fice & ( ! ,(fice ( ,managem5t &      
,budget %all ea* prep>e a /udy & make   
recomm5dations to ! ,committees on !    
,budget ( ! ,h\se ( ,repres5tatives & ! 
,s5ate z to ! feasability ( apply+ fair 
value concepts to budget+ = ! co/s (    
,f$]al insurance programs4  #bjb4       
,on-budget /atus ( ,fannie ,mae &       
,fr$die ,mac ,not)/&+ any o!r provision 
( law1 ! receipts & disbursem5ts1       
includ+ ! adm9i/rative exp5ses1 ( !     
,f$]al ,national ,mortgage ,association 
& ! ,f$]al ,home ,loan ,mortgage        
,corporation %all be c\nt$ z new budget 
au?ority1 outlays1 receipts1 or deficit 
or surplus = purposes (--  7#a7 ! budget

 ( ! ,unit$ ,/ates ,gov]nm5t z submitt$ 
by ! ,presid5t2  7#b7 ! congressional   
budget2 &  7#c7 ! ,balanc$ ,budget &    
,em]g5cy ,deficit ,control ,act ( #aihe4
  #bjc4 ,effective date ,section #bjb   
%all n apply ) respect to an ent]prise  
7z su* t]m is def9$ 9 section #acjc ( ! 
,f$]al ,h\s+ ,ent]prises ,f9ancial      
,safety & ,s\ndness ,act ( #aiib 7#ab   
,u4,s4,c4 #dejb77 aft] ! date t all ( ! 
foll[+ h occurr$3  7#a7 ,! cons]vator%ip
 = su* ent]prise "u section #acfg ( su* 
,act 7#ab ,u4,s4,c4 #dfag7 has be5      
t]m9at$4  7#b7 ,! ,director ( ! ,f$]al  
,h\s+ ,f9ance ,ag5cy has c]tifi$ 9 writ+
 t su* ent]prise has repaid to ! ,f$]al 
,gov]nm5t ! maximum am\nt consi/5t )    
m9imiz+ total co/ to ! ,f$]al ,gov]nm5t 
( ! f9ancial assi/ance provid$ to !     
ent]prise by ! ,f$]al ,gov]nm5t pursuant
 to ! am5dm5ts made by section #aaag ( !
 ,h\s+ & ,economic ,recov]y ,act ( #bjjh
 7,public ,law #aaj-bhi2 #abb ,/at4     
#bfhc7 or o!rwise4  7#c7 ,! *>t] = !    
ent]prise has be5 revok$1 annull$1 or   

t]m9at$ & ! au?oriz+ /atute 7z su* t]m  
is def9$ 9 su* section #acjc7 ) respect 
to ! ent]prise has be5 repeal$4  ,,iii  
,budget review & analysis  #cja4 ,,cbo &
 ,,omb review & recomm5dations respect+ 
receipts & collections ,n lat] ?an #a   
ye> aft] ! date ( enactm5t ( ?is ,act1 !
 ,director ( ! ,(fice ( ,managem5t &    
,budget %all prep>e a /udy ( ! hi/ory ( 
(fsett+ collections aga9/ exp5ditures & 
! am\nt ( receipts collect$ annually1 ! 
hi/orical application ( ! budget>y t]ms 
rev5ue1 (fsett+ collections1 & (fsett+  
receipts1 & review ! application ( ^?   
t]ms & make recomm5dations to !         
,committees on ! ,budget ( ! ,h\se (    
,repres5tatives & ! ,s5ate ( :e!r su*   
usage %\ld be cont9u$ or modifi$4 ,!    
,director ( ! ,congressional ,budget    
,(fice %all review ! hi/ory &           
recomm5dations prep>$ by ! ,director ( !
 ,(fice ( ,managem5t & ,budget & %all   
submit comm5ts & recomm5dations to su*  
,committees4  #cjb4 ,ag5cy budget       
ju/ifications ,section #aajh ( title    

#ca1 ,unit$ ,/ates ,code1 is am5d$ by   
ins]t+ at ! end ! foll[+ new            
subsections3  7h7  7#a7 ,:5ev] any ag5cy
 prep>es & submits writt5 budget        
ju/ification mat]ials = any committee ( 
! ,h\se ( ,repres5tatives or ! ,s5ate1  
su* ag5cy %all po/ su* budget           
ju/ification on ! same day ( su*        
submission on ! op5 page ( ! public     
website ( ! ag5cy1 & ! ,(fice (         
,managem5t & ,budget %all po/ su* budget
 ju/ification 9 a c5traliz$ location on 
its website1 9 ! =mat develop$ "u       
p>agraph 7#b74 ,ea* ag5cy %all include )
 its writt5 budget ju/ification !       
process & me?odology ! ag5cy is us+ to  
comply ) ! ,fair ,value ,acc\nt+ ,act ( 
#bjad4  7#b7 ,! ,(fice ( ,managem5t &   
,budget1 9 consultation ) !             
,congressional ,budget ,(fice & !       
,gov]nm5t ,acc\ntability ,(fice1 %all   
develop & notify ea* ag5cy ( ! =mat 9   
:i* to po/ a budget ju/ification "u     
p>agraph 7#a74 ,su* =mat %all be design$
 to ensure t po/$ budget ju/ifications =

 all ag5cies--  7,a7 are se>*able1      
sortable1 & d[nloadable by ! public2    
7,b7 are consi/5t ) g5]ally accept$     
/&>ds & practices =                     
ma*9e-discov]ability2  7,c7 are organiz$
 uni=mly1 9 a logical mann] t makes cle>
 ! cont5ts ( a budget ju/ification &    
relation%ips betwe5 data elem5ts )9 !   
budget ju/ification & among simil>      
docum5ts2 &  7,d7 use uni=m id5tifi]s1  
includ+ = ag5cies1 bureaus1 programs1 & 
projects4  7i7  7#a7 ,n lat] ?an ! day t
 ! ,(fice ( ,managem5t & ,budget issues 
guidel9es1 regulations1 or crit]ia to   
ag5cies on h[ to calculate ! risk       
compon5t "u ! ,fair ,value ,acc\nt+ ,act
 ( #bjad1 x %all submit a writt5 report 
to ! ,committees on ! ,budget ( ! ,h\se 
( ,repres5tatives & ! ,s5ate conta9+ all
 su* guidel9es1 regulations1 or crit]ia4
  7#b7 ,= fiscal ye> #bjag & ea* ( !    
next f\r fiscal ye>s !reaft]1 !         
,comptroll] ,g5]al %all submit an annual
 report to ! ,committees on ! ,budget ( 
! ,h\se ( ,repres5tatives & ! ,s5ate    

review+ & evaluat+ ! progress ( ag5cies 
9 ! implem5tation ( ! ,fair ,value      
,acc\nt+ ,act ( #bjad4  7#c7 ,su*       
guidel9es1 regulations1 or crit]ia %all 
be deem$ to be a rule = purposes (      
section #eec ( title #e & %all be issu$ 
aft] notice & opportunity = public      
comm5t 9 accordance ) ! proc$ures "u su*
 section4  4  ,pass$ ! ,h\se (          
,repres5tatives ,april #g1 #bjad4;,cl]k4