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[House Report 112-388]
[From the U.S. Government Publishing Office]

112th Congress                                                   Report
                        HOUSE OF REPRESENTATIVES
 2d Session                                                     112-388

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   PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 3581) TO AMEND THE 
 BALANCED BUDGET AND EMERGENCY DEFICIT CONTROL ACT OF 1985 TO INCREASE 
       TRANSPARENCY IN FEDERAL BUDGETING, AND FOR OTHER PURPOSES

                                _______
                                

  February 6, 2012.--Referred to the House Calendar and ordered to be 
                                printed

                                _______
                                

               Mr. Woodall, from the Committee on Rules, 
                        submitted the following

                              R E P O R T

                       [To accompany H. Res. 539]

    The Committee on Rules, having had under consideration 
House Resolution 539, by a record vote of 6 to 3, report the 
same to the House with the recommendation that the resolution 
be adopted.

                SUMMARY OF PROVISIONS OF THE RESOLUTION

    The resolution provides for consideration of H.R. 3581, the 
Budget and Accounting Transparency Act of 2011, under a 
structured rule. The resolution provides one hour of general 
debate equally divided and controlled by the chair and ranking 
minority member of the Committee on the Budget. The resolution 
waives all points of order against consideration of the bill. 
The resolution makes in order as original text for the purpose 
of amendment the amendment in the nature of a substitute 
consisting of the text of Rules Committee Print 112-13, and 
provides that it shall be considered as read. The resolution 
waives all points of order against the amendment in the nature 
of a substitute made in order as original text. The resolution 
makes in order only those amendments printed in this report. 
Each such amendment may be offered only in the order printed in 
this report, may be offered only by a Member designated in this 
report, shall be considered as read, shall be debatable for the 
time specified in this report equally divided and controlled by 
the proponent and an opponent, shall not be subject to 
amendment, and shall not be subject to a demand for division of 
the question in the House or in the Committee of the Whole. The 
resolution waives all points of order against the amendments 
printed in this report. Finally, the resolution provides one 
motion to recommit with or without instructions.

                         EXPLANATION OF WAIVERS

    Although the rule waives all points of order against 
consideration of the bill, the Committee is not aware of any 
points of order. The waiver is prophylactic in nature.
    Although the rule waives all points of order against the 
amendment in the nature of a substitute made in order as 
original text consisting of Rules Committee Print 112-13, the 
Committee is not aware of any points of order. The waiver is 
prophylactic in nature.

                            COMMITTEE VOTES

    The results of each record vote on an amendment or motion 
to report, together with the names of those voting for and 
against, are printed below:

Rules Committee record vote No. 186

    Motion by Ms. Slaughter to report an open rule. Defeated: 
3-6.

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Ms. Foxx........................................          Nay   Ms. Slaughter.....................          Yea
Mr. Bishop of Utah..............................          Nay   Mr. McGovern......................          Yea
Mr. Woodall.....................................          Nay   Mr. Hastings of Florida...........          Yea
Mr. Nugent......................................          Nay
Mr. Scott of South Carolina.....................          Nay
Mr. Dreier, Chairman............................          Nay
----------------------------------------------------------------------------------------------------------------

Rules Committee record vote No. 187

    Motion by Mr. Bishop of Utah to report the rule. Adopted: 
6-3.

----------------------------------------------------------------------------------------------------------------
                Majority Members                      Vote               Minority Members               Vote
----------------------------------------------------------------------------------------------------------------
Ms. Foxx........................................          Yea   Ms. Slaughter.....................          Nay
Mr. Bishop of Utah..............................          Yea   Mr. McGovern......................          Nay
Mr. Woodall.....................................          Yea   Mr. Hastings of Florida...........          Nay
Mr. Nugent......................................          Yea
Mr. Scott of South Carolina.....................          Yea
Mr. Dreier, Chairman............................          Yea
----------------------------------------------------------------------------------------------------------------

                SUMMARY OF THE AMENDMENTS MADE IN ORDER

    1. Jackson Lee (TX): Would shorten from one year to six 
months after enactment the requirement that CBO and OMB to 
report to Congress on the feasibility of applying fair value 
concepts to budgeting for the costs of Federal insurance 
programs. (10 minutes)
    2. Dold (IL), Quigley (IL): Would require the OMB Director 
to prepare all budgets submitted to the President according to 
both accrual-basis and cash-basis GAAP accounting standards. 
(10 minutes)
    3. Tonko (NY): Would establish a Commission of budgeting 
and accounting experts to provide recommendations to Congress 
regarding the best measure to accurately account for the costs 
of Federal credit programs. Would allow the Commission to delay 
and or supersede the provisions of the bill. (10 minutes)

                    TEXT OF AMENDMENTS MADE IN ORDER

1. An Amendment To Be Offered by Representative Jackson Lee of Texas or 
                 Her Designee, Debatable for 10 Minutes

  Page 20, strike lines 3 through 13 and insert the following 
new section:

SEC. 201. CBO AND OMB STUDIES RESPECTING BUDGETING FOR COSTS OF FEDERAL 
                    INSURANCE PROGRAMS.

  Within six months after the date of enactment of this Act, 
the Directors of the Congressional Budget Office and the Office 
of Management and Budget shall each prepare a study and make 
recommendations to the Committees on the Budget of the House of 
Representatives and Senate as to the feasibility of applying 
fair value concepts to budgeting for the costs of Federal 
insurance programs.
                              ----------                              

2. An Amendment To Be Offered by Representative Dold of Illinois or His 
                   Designee, Debatable for 10 Minutes

  At the end of the bill, add the following new title:

                TITLE IV--PRESIDENT'S BUDGET SUBMISSION

SEC. 401. PREPARATION OF THE BUDGET.

  (a) The President.--Section 1105(a) of title 31, United 
States Code, is amended--
          (1) by redesignating the second paragraph (37) as 
        paragraph (39); and
          (2) by adding at the end the following new paragraph:
          ``(40) A summary of how the use of accrual accounting 
        procedures would affect the estimated expenditures, 
        appropriations, and receipts of the Government in the 
        fiscal year for which the budget is submitted.''.
  (b) Office of Management and Budget.--The Director of the 
Office of Management and Budget shall prepare all of the 
budgets submitted to the President according to both accrual 
accounting procedures and the cash basis accounting method.
                              ----------                              

 3. An Amendment To Be Offered by Representative Tonko of New York or 
                 His Designee, Debatable for 10 Minutes

  At the end of the bill, add the following new title:

         TITLE IV--EFFECTIVE DATE; ESTABLISHMENT OF COMMISSION

SEC. 401. EFFECTIVE DATE; ESTABLISHMENT OF COMMISSION.

  (a) Effective Date; Establishment.--The provisions of this 
Act are delayed until and may be superseded by the majority 
recommendations of a six member commission consisting of the 
Director of the Congressional Budget Office, the Director of 
the Office of Management and Budget, and four additional non-
congressional members each appointed by the Speaker and 
Minority Leader of the House and the Majority and Minority 
Leaders of the Senate. Such additional four Members shall have 
expertise in budgeting and accounting.
  (b) Recommendations.--The recommendations of the commission 
shall reflect the best measure to accurately account for the 
costs of Federal credit programs, including an analysis of the 
fair value, market-based risk estimates, and the discount rates 
mandated by the Federal Credit Reform Act of 1990.
  (c) Congressional Vote Required.--Such recommendations shall 
take effect upon their enactment into law. Congress shall vote 
on the recommendations set forth in subsection (b) not later 
than 45 days after the date of submission of such 
recommendations to the Congress.

                                  
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