BBA 2019 (Contents)
Bipartisan Budget Act of 2019
Section 301
TITLE III—Temporary Extension of Public Debt Limit
Section 301. 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 July 31, 2021.
(b) Special Rule Relating to Obligations Issued During Extension Period.—Effective on August 1, 2021, 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 August 1, 2021, exceeds
(2) the face amount of such obligations outstanding on the date of the enactment of this Act.
(c) Extension Limited to Necessary Obligations.—An obligation shall not be taken into account under subsection (b)(1) unless the issuance of such obligation was necessary to fund a commitment incurred pursuant to law by the Federal Government that required payment before August 1, 2021.
Counsel Notes
PRIOR LEgislation
The Budget Control Act of 2011 (112th Congress) set out a convoluted budget process by which discretionary and direct spending were to be controlled for a ten-year period. To see the context in which the BBA 2019 was enacted, see the Budget Control Act and Its Progeny.
Bipartisan Budget Act of 2013
Section 301 (BBA 2019) corresponds to section 101(c) of the BBA 2013.
Bipartisan Budget Act of 2015
Section 301 (BBA 2019) corresponds to section 101(c) of the BBA 2015.
Bipartisan Budget Act of 2018
Section 301 (BBA 2019) corresponds to section 101(c) of the the BBA 2018.
Bipartisan Budget Act of 2019, Pub. L. 116-37; 133 Stat. 1049; August 2, 2019; H.R. 3877 (116th Congress)[Page View]
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