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SECTION 1. ESTABLISHMENT OF BUDGET RESERVE AC-
COUNT.
(a) ESTABLISHMENT.—A budget reserve account
(hereinafter in this section referred to as the ‘‘account’’)
shall be established for the purpose of setting aside ade-
quate funding for natural disasters and national security
emergencies.
(b) PRIOR APPROPRIATION REQUIRED.—The ac-
count shall consist of such sums as may be provided in
advance in appropriation Acts for a particular fiscal year.
(c) RESTRICTION ON USE OF FUNDS.—(1) Notwith-
standing any other provision of law, the amounts in the
account shall not be available for other than emergency
funding requirements for particular natural disasters or
national security emergencies so designated by Acts of
Congress.
(2) Funds in the account that are not obligated dur-
ing the fiscal year for which they are appropriated may
only be used for deficit reduction purposes.
SEC. 2. CONGRESSIONAL BUDGET PROCESS CHANGES.
(a) CONTENTS OF CONCURRENT RESOLUTIONS ON
THE BUDGET.—Section 301(a) of the Congressional
Budget Act of 1974 is amended by redesignating para-
graphs (6) and (7) as paragraphs (7) and (8), respectively,
and by inserting after paragraph (5) the following new
paragraph:
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‘‘(6) total new budget authority and total
budget outlays for emergency funding requirements
for natural disasters and national security emer-
gencies to be included in a budget reserve account;’’.
(b) SECTION 302 ALLOCATIONS.—Section 302 of the
Congressional Budget Act of 1974 is amended by adding
at the end the following new subsection:
‘‘(h) COMMITTEE SPENDING ALLOCATIONS AND SUB-
ALLOCATIONS FOR BUDGET RESERVE ACCOUNT.—
‘‘(1) ALLOCATIONS.—The joint explanatory
statement accompanying a conference report on a
budget resolution shall include allocations, consistent
with the resolution recommended in the conference
report, of the appropriate levels (for each fiscal year
covered by that resolution) of total new budget au-
thority and outlays to the Committee on Appropria-
tions of each House for emergency funding require-
ments for natural disasters and national security
emergencies to be included in a budget reserve
account.
‘‘(2) SUBALLOCATIONS.—As soon as practicable
after a budget resolution is agreed to, the Commit-
tee on Appropriations of each House (after consult-
ing with the Committee on Appropriations of the
other House) shall suballocate each amount allocated
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to it for the budget year under paragraph (1) among
its subcommittees. Each Committee on Appropria-
tions shall promptly report to its House suballoca-
tions made or revised under this paragraph.’’.
SEC. 3. REPEAL OF ADJUSTMENT FOR EMERGENCY APPRO-
PRIATIONS.
Section 251(b)(2)(A) of the Balanced Budget and
Emergency Deficit Control Act of 1985 is repealed.
SEC. 4. REPORTING.
Not later than November 30, 2000, and at annual
intervals thereafter, the Director of the Office of Manage-
ment and Budget shall submit a report to each House of
Congress listing the amounts of money expended from the
budget reserve account established under section 1 for the
fiscal year ending during that calendar year for each natu-
ral disaster and national security emergency.
SEC. 5. EFFECTIVE DATE.
This Act and the amendments made by it shall apply
to fiscal year 2000 and subsequent fiscal years.
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