vote on passage, when the joint resolution re-
ceived from the other House shall supplant the 
joint resolution of the receiving House. 
‘‘(2) TREATMENT
OF
JOINT
RESOLUTION
OF 
OTHER HOUSE.—If the Senate fails to introduce or 
consider a joint resolution under this section relating 
to a certification under subsection (b)(1), the joint 
resolution of the House relating to the same certifi-
cation shall be entitled to expedited floor procedures 
under this section. 
‘‘(3) TREATMENT OF COMPANION MEASURES.— 
If, following passage of a joint resolution in the Sen-
ate, the Senate receives the companion measure 
from the House of Representatives, the companion 
measure shall not be debatable. 
‘‘(4) CONSIDERATION AFTER PASSAGE.— 
‘‘(A) IN GENERAL.—If Congress passes a 
joint resolution, the period beginning on the 
date the President is presented with the joint 
resolution and ending on the date the President 
signs, allows to become law without his signa-
ture, or vetoes and returns the joint resolution 
(but excluding days when either House is not in 
session) shall be disregarded in computing the 
calendar day period described in subsection (c). 
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‘‘(B) VETO MESSAGE.—Debate on a veto 
message in the Senate under this section shall 
be 1 hour equally divided between the majority 
and minority leaders or their designees. 
‘‘(5) VETO OVERRIDE.—If, within the calendar 
day period described in subsection (c), Congress 
overrides a veto of a joint resolution relating to a 
certification submitted under subsection (b)(1), the 
United States may not issue any additional debt this 
chapter. 
‘‘(g) RULES OF HOUSE OF REPRESENTATIVES AND 
SENATE.—This subsection and subsections (a), (d), (e), 
and (f) are enacted by Congress— 
‘‘(1) as an exercise of the rulemaking power of 
the Senate and House of Representatives, respec-
tively, and as such are deemed a part of the rules 
of each House, respectively, but applicable only with 
respect to the procedure to be followed in that 
House in the case of a joint resolution, and they su-
persede other rules only to the extent that they are 
inconsistent with such rules; and 
‘‘(2) with full recognition of the constitutional 
right of either House to change the rules (so far as 
relating to the procedure of that House) at any time, 
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in the same manner, and to the same extent as in 
the case of any other rule of that House. 
‘‘(h) DEBT DEFINED.— 
‘‘(1) IN GENERAL.—For purposes of this sec-
tion, the term ‘debt’ means the face amount of obli-
gations issued under this chapter 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). 
‘‘(2) DETERMINATION OF FACE AMOUNT.— 
‘‘(A) IN GENERAL.—For purposes of this 
section, the current redemption value of an obli-
gation issued on a discount basis and redeem-
able before maturity at the option of its holder 
is deemed to be the face amount of the obliga-
tion. 
‘‘(B) CERTAIN OBLIGATIONS NOT REDEEM-
ABLE
BEFORE
MATURITY.—For purposes of 
this section, the face amount, for any month, of 
any obligation issued on a discount basis that 
is not redeemable before maturity at the option 
of the holder of the obligation is an amount 
equal to the sum of— 
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‘‘(i) the original issue price of the ob-
ligation, plus 
‘‘(ii) the portion of the discount on 
the obligation attributable to periods be-
fore the beginning of such month (as de-
termined under the principles of section 
1272(a) of the Internal Revenue Code of 
1986 without regard to any exceptions con-
tained in paragraph (2) of such section).’’. 
SEC. 3. REPEAL OF EXPIRED PROVISION. 
(a) REPEAL.—Section 3101A of title 31, United 
States Code, is repealed. 
(b) CLERICAL AMENDMENT.—The table of sections 
for subchapter I of chapter 31 of title 31, United States 
Code, is amended by striking the item relating to section 
3101A. 
SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS. 
(a) IN GENERAL.— 
(1) Section 8348 of title 5, United States Code, 
is amended by striking subsections (j), (k), and (l). 
(2) Section 8438 of title 5, United States Code, 
is amended by striking subsections (g) and (h). 
(3) Section 14(d)(2)(A) of the Federal Deposit 
Insurance Act (12 U.S.C. 1824(d)(2)(A)) is amend-
ed— 
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(A) by striking ‘‘in section 3101(b)’’ and 
inserting ‘‘under section 3101’’; and 
(B) by striking ‘‘an obligation to which 
such limit applies’’ and inserting ‘‘debt, as de-
fined in subsection (h) of such section’’. 
(b) SAVINGS
PROVISIONS.—Notwithstanding the 
amendments made by paragraphs (1) and (2) of sub-
section (a)— 
(1) paragraphs (2), (3), and (4) of subsection 
(j) and subsection (l)(1) of section 8348 of title 5, 
United States Code, as in effect on the day before 
the date of enactment of this Act, shall apply to any 
debt issuance suspension period (as defined under 
section 8348(j)(5) of such title) that is in effect on 
the date of enactment of this Act; and 
(2) paragraphs (2), (3), and (4) of subsection 
(g) and subsection (h)(1) of section 8438 of title 5, 
United States Code, as in effect on the day before 
the date of enactment of this Act, shall apply to any 
debt issuance suspension period (as defined under 
section 8438(g)(6) of such title) that is in effect on 
the date of enactment of this Act. 
Æ 
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