H. Con. Res. 71 (115th Congress)
Concurrent Resolution on the Budget for Fiscal Year 2018
TITLE III—BUDGET ENFORCEMENT IN THE HOUSE OF REPRESENTATIVES
Subtitle A—Budget Enforcement
sec. 306. fair-value credit estimates.
(a) All Credit Programs.—Whenever the Director of the Congressional Budget Office provides an estimate of any measure that establishes or modifies any program providing loans or loan guarantees, the Director shall also, to the extent practicable, provide a fair-value estimate of such loan or loan guarantee program if requested by the chair of the Committee on the Budget of the House of Representatives.
(b) Student Financial Assistance and Housing Programs.—The Director of the Congressional Budget Office shall provide, to the extent practicable, a fair-value estimate as part of any estimate for any measure that establishes or modifies a loan or loan guarantee program for student financial assistance or housing (including residential mortgage).
(c) Baseline Estimates.—The Congressional Budget Office shall include estimates, on a fair-value and credit reform basis, of loan and loan guarantee programs for student financial assistance, housing (including residential mortgage), and such other major loan and loan guarantee programs, as practicable, in its The Budget andcEconomic Outlook: 2018 to 2027.
(d) Enforcement in the House Of Representatives.—If the Director of the Congressional Budget Office provides an estimate pursuant to subsection (a) or (b), the chair of the Committee on the Budget of the House of Representatives may use such estimate to determine compliance with the Congressional Budget Act of 1974 and other budget enforcement requirements.
House Budget Committee Report on Budget Resolution
(H. Rept. 115-240, Report on H. Con. Res. 71 (115th Congress))
Section 306. Fair-Value Credit Estimates.
Subsection (a) directs CBO to include a supplemental fair-value estimate, if requested by the Chair, of any legislation modifying or establishing a loan or loan guarantee program. This applies to all loans and loan guarantees, regardless of program or policy area.
Subsection (b) directs CBO to include in all estimates of legislation establishing or modifying a loan or loan guarantee program for student financial assistance and housing (including residential mortgage). No request from the Chair of the Committee on the Budget is necessary.
Under both subsection (a) and (b), CBO is directed to provide such an estimate only if practicable.
Subsection (c) requires CBO to include, in its The Budget and Economic Outlook: 2018 to 2027, a comparison baseline projection for student financial assistance, housing (including residential mortgage) and other major credit programs on a fair-value and credit reform basis.
Subsection (d) permits the Chair of the Committee on the Budget to use the fair-value estimate provided pursuant to subsection (a) or (b) in determining whether legislation complies with the Budget Act and other budget rules.
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[BCD § 010.43]
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