,i  #aagth ,,congress  #ast ,session    
,h4 ,r4 #cghe  ,,in ,,the ,,house ,,of  
,,representatives  ,june #h1 #bjba,mr4  
,norman introduced the following bill2  
which was referred to the ,committee on 
the ,budget1 and in addition to the     
,committee on ,rules1 for a period to be
 subsequently determined by the         
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to amend the ,congressional 
,budget and ,impoundment ,control ,act  
of #aigd to provide for fair-value      
credit estimates1 and for other         
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,fair-,value        
,accounting and ,budget ,act4  #b4      
,fair-value credit estimates  7a7       
,fair-,value estimates ,part ,a of title
 ,,iv of the ,congressional ,budget and 
,impoundment ,control ,act of #aigd is  
amended by adding at the end the        
following3  #djg4 ,fair-value credit    
estimates  7a7 ,fair-,value estimates   

,upon the request of the chair or the   
ranking member of the ,committee on the 
,budget of the ,house of                
,representatives or the ,senate1 any    
estimate prepared by the ,director of   
the ,congressional ,budget ,office for a
 measure that establishes or modifies   
any program providing loans or loan     
guarantees shall1 as a supplement to    
such estimate and to the extent         
practicable1 provide a fair-value       
estimate of such loan or loan guarantee 
program4  7b7 ,baseline estimates ,the  
,congressional ,budget ,office shall    
include estimates of loan and loan      
guarantee programs1 on a fair-value and 
credit reform basis1 as practicable1 in 
its ,the ,budget and ,economic ,outlook4
  7c7 ,enforcement ,if the ,director of 
the ,congressional ,budget ,office      
provides an estimate pursuant to        
subsection 7a71 the chair of the        
,committee on the ,budget of the ,house 
of ,representatives or the ,senate may  
use such estimate to determine          

compliance with this ,act and other     
budget enforcement requirements4  7d7   
,annual report ,in #bjba and each year  
thereafter1 not later than #ij days     
after the date the ,president submits to
 ,congress a budget under section       
#aaje7;a7 of title #ca1 ,united ,states 
,code1 the ,director of the ,office of  
,management and ,budget shall submit a  
report1 to the ,committees on the       
,budget of the ,house of                
,representatives and the ,senate1 on    
fair-value estimates of the cost of     
,federal credit programs4  7e7          
,definition of fair-,value ,in carrying 
out this section1 the ,director of the  
,congressional ,budget ,office and the  
,director of the ,office of ,management 
and ,budget shall use the definition of 
fair-value as set forth in the          
publication of the ,government          
,accounting ,standards ,board issued in 
,february #bjae and entitled ,fair      
,value ,measurement and ,application4  4
  7b7 ,clerical amendment ,the table of 

contents for the ,congressional ,budget 
and ,impoundment ,control ,act of #aigd 
,act set forth in section #a7;b7 of such
 ,act is amended by inserting after the 
item relating to section #djf the       
following new item3  ,sec4 #djg4        
,fair-value credit estimates4  4