I
103D CONGRESS
1ST SESSION
H. R. 484
To improve budgetary information by requiring that the unified budget pre-
sented by the President contain information which facilitates consider-
ation of choices between spending which is consumption oriented, spend-
ing which is of a development character, and spending which is in
the nature of a capital investment, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 6, 1993
Mr. THORNTON introduced the following bill; which was referred to the
Committee on Government Operations
A BILL
To improve budgetary information by requiring that the uni-
fied budget presented by the President contain informa-
tion which facilitates consideration of choices between
spending which is consumption oriented, spending which
is of a development character, and spending which is
in the nature of a capital investment, and for other
purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Capital Budgeting Act
of 1993’’.
SEC. 2. STATEMENT OF FINDINGS AND PURPOSE.
(a) STATEMENT OF FINDING.—The Congress finds
that—
(1) the objective of enhancing long-term eco-
nomic growth is not well served by a budget process
focused on short-term results,
(2) long-term economic growth depends not
only upon a stable social, political, and economic en-
vironment and a higher level of national savings, but
also upon a sound public infrastructure, an educated
citizenry and workforce, an investment in research
and the discovery of knowledge, and the harnessing
of inventive genius into the workplace and market-
place,
(3) the existing presentation of the Federal
Budget obscures the distinctions between long-term
capital investments, expenditures of a developmental
character, and current operational spending, and
(4) the public interest will be served by a Fed-
eral Budget presentation which presents information
showing long-term effects of expenditures.
(b) PURPOSE.—It is the purpose of this Act to re-
quire that the unified budget present—
(1) an operating budget, and
(2) an investment budget divided into—
(A) federally-owned capital, and
(B) developmental investments,
for each of the 3 major components of the budget
(general, trust, and enterprise funds) in order to en-
sure a continued focus on the Government’s total fi-
nancial operations, while providing better and more
relevant information upon which to base both overall
fiscal policy as well as program priorities within the
Federal Budget.
SEC. 3. CAPITAL AND OPERATING BUDGETS.
(a) IN GENERAL.—Title 31, United States Code, is
amended by inserting after section 1105 the following new
section:
‘‘SEC. 1105A. CAPITAL AND OPERATING BUDGETS.
‘‘(a)(1) The budget of the United States submitted
by the President under section 1105 of this title shall be
a unified budget composed of—
‘‘(A) an operating budget, and
‘‘(B) an investment budget divided into feder-
ally-owned capital and developmental investments.
‘‘(2) Operating and investment budgets shall be pre-
sented separately for unified funds, general funds, trust
funds, and enterprise funds.
‘‘(b)(1) Actual, estimated, and proposed amounts
shall be presented for unified funds, general funds, trust
funds, and enterprise funds, and, at a minimum, shall
contain:
‘‘(A) For the operating budget:
‘‘(i) Operating revenues.
‘‘(ii) Operating expenses.
‘‘(iii) 
Operating 
surplus/deficit 
before
interfund transfers.
‘‘(iv) Interfund transfers.
‘‘(v) Operating surplus/deficit.
‘‘(vi) Federal expenditures financing the
operating expenses of State and local govern-
ments.
‘‘(B) For the investment budget:
‘‘(i) For federally-owned capital: the office
buildings, equipment, and other assets that are
owned by the Government for use in its oper-
ations together with a showing how such assets
will improve the efficiency and effectiveness
with which government agencies carry out their
missions.
‘‘(ii) For developmental investments (in-
cluding grants and loans to non-Federal entities
for improving physical infrastructure, research
and development, and investment in human
capital through education and training): the
amounts to be invested together with a projec-
tion of how such investments will improve the
prospects for higher rates of economic growth
on the future.
‘‘(2) For both categories of investment budgets, the
following information will be presented:
‘‘(A) Investment funds together with investment
revenues.
‘‘(B) Financing requirements before interfund
transfers.
‘‘(C) Interfund transfers.
‘‘(D) Projected effects upon economic growth.
‘‘(3) The investment budget shall represent only the
major activities, projects, and programs which support the
acquisition, construction, alteration, and rehabilitation of
such investment assets and the major programs and activi-
ties which support nonmilitary research and development,
education, and job training. All other activities, projects,
and programs shall be represented in the operating
budget.’’.
(b) CLERICAL AMENDMENT.—The table of sections
for chapter 11 of title 31, United States Code, is amended
by inserting after the item relating to section 1105 the
following new item:
‘‘1105A. Capital and operating budgets.’’
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