Transportation 
and 
Transit 
Empowerment
Act.’’.
SEC. 10. EFFECTIVE DATE CONTINGENT UPON CERTIFI-
CATION OF DEFICIT NEUTRALITY.
(a) PURPOSE.—The purpose of this section is to en-
sure that—
(1) this Act will become effective only if the Di-
rector of the Office of Management and Budget (re-
ferred to in this section as the ‘‘Director’’) certifies
that this Act is deficit neutral;
(2) discretionary spending limits are reduced to
capture the savings realized in devolving transpor-
tation functions to the State level pursuant to this
Act; and
(3) the tax reduction made by this Act is not
scored under pay-as-you-go and does not inadvert-
ently trigger a sequestration.
(b) EFFECTIVE
DATE
CONTINGENCY.—Notwith-
standing any other provision of this Act, this Act shall
take effect only if—
(1) the Director submits the report as required
in subsection (c); and
(2) the report contains a certification by the Di-
rector that, based on the required estimates, the re-
duction in discretionary outlays resulting from the
reduction in contract authority is at least as great
as the reduction in revenues for each fiscal year
through fiscal year 2003.
(c) OMB ESTIMATES AND REPORT.—
(1) REQUIREMENTS.—Not later than 5 cal-
endar days after the date of notification by the Sec-
retary of any election described in section 3(b), the
Director shall—
(A) estimate the net change in revenues re-
sulting from this Act for each fiscal year
through fiscal year 2003;
(B) estimate the net change in discre-
tionary outlays resulting from the reduction in
contract authority under this Act for each fiscal
year through fiscal year 2003;
(C) determine, based on those estimates,
whether the reduction in discretionary outlays
is at least as great as the reduction in revenues
for each fiscal year through fiscal year 2003;
and
(D) submit to the Congress a report set-
ting forth the estimates and determination.
(2) APPLICABLE
ASSUMPTIONS
AND
GUIDE-
LINES.—
(A) REVENUE
ESTIMATES.—The revenue
estimates required under paragraph (1)(B)
shall be predicated on the same economic and
technical assumptions and scorekeeping guide-
lines that would be used for estimates made
pursuant to section 252(d) of the Balanced
Budget and Emergency Deficit Control Act of
1985 (2 U.S.C. 902(d)).
(B) OUTLAY ESTIMATES.—The outlay esti-
mates required under paragraph (1)(B) shall be
determined by comparing the level of discre-
tionary outlays resulting from this Act with the
corresponding level of discretionary outlays pro-
jected in the baseline under section 257 of the
Balanced Budget and Emergency Deficit Con-
trol Act of 1985 (2 U.S.C. 907).
(d) CONFORMING ADJUSTMENT TO DISCRETIONARY
SPENDING LIMITS.—Upon compliance with the require-
ments specified in subsection (b), the Director shall adjust
the adjusted discretionary spending limits for each fiscal
year through fiscal year 2003 under section 601(a)(2) of
the Congressional Budget Act of 1974 (2 U.S.C.
665(a)(2)) by the estimated reductions in discretionary
outlays under subsection (a)(2).
(e) PAYGO INTERACTION.—Upon compliance with the
requirements specified in subsection (b), no changes in
revenues estimated to result from the enactment of this
Act shall be counted for the purposes of section 252(d)
of the Balanced Budget and Emergency Deficit Control
Act of 1985 (2 U.S.C. 902(d)).
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