BBA 2015 (Contents)

Bipartisan Budget Act of 2015

Section 901

Title IX—Temporary Extension of Public Debt Limit

SEC. 901. TEMPORARY EXTENSION OF PUBLIC DEBT LIMIT.

(a) In General.—Section 3101(b) of title 31, United States Code, shall not apply for the period beginning on the date of the enactment of this Act and ending on March 15, 2017.

(b) Special Rule Relating To Obligations Issued During Extension Period.—Effective March 16, 2017, the limitation in effect under section 3101(b) of title 31, United States Code, shall be increased to the extent that—

(1) the face amount of obligations issued under chapter 31 of such title and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) outstanding on March 16, 2017, exceeds

(2) the face amount of such obligations outstanding on the date of the enactment of this Act.


Counsel Notes
Committee Print STATEMENT (BBA 2015)

The Bipartisan Budget Act of 2015 (Pub. L. 114-74) did not have any committee report, nor a House Budget Committee print like the Bipartisan Budget Act of 2013 (Pub. L. 113-69). The Counsel for the House Budget Committee did prepare a report, which included this description:

Sec. 901. Temporary extension of public debt limit.

Subsection 901(a) provides for the temporary suspension of the limit on public debt through March 15, 2017. Subsection 901(b) further provides that on March 16, the public debt limit will be increased, but only to the extent that: (1) the face amount of obligations issued and the face amount of obligations whose principal and interest are guaranteed by the federal government (except guaranteed obligations held by the Secretary of the Treasury) outstanding on March 15, 2017, exceeds (2) the face amount of such obligations outstanding on the date of enactment of this Act.

Bipartisan Budget Act of 2015: Counsel Report to Accompany H.J. Res. 59, House Committee on the Budget (113th Congress, 2d Session) February 2015.

References

Pub. L. 114–74, title I, §101(a), title VIII, §815, 129 Stat. 585; Nov. 2, 2015  (Bipartisan Budget Act of 2015).

Counsel Report for the Bipartisan Budget Act of 2015 (Budget Counsel Reference)  March 2018


Legislative History Notes
Public Laws

Bipartisan Budget Act of 2015; Pub. L. 114–74; 129 Stat. 584; November 2, 2015; H.R. 1314 (114th Congress)

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