H. Con. Res. 71—42 
carrying out such bill or resolution. Any estimate of debt service 
costs provided under this section shall be advisory and shall not 
be used for purposes of enforcement of such Act, the Rules of 
the House of Representatives, or this concurrent resolution. This 
section shall not apply to authorizations of programs funded by 
discretionary spending or to appropriation bills or joint resolutions, 
but shall apply to changes in the authorization level of appropriated 
entitlements. 
SEC. 5106. FAIR-VALUE CREDIT ESTIMATES. 
(a) ALL CREDIT PROGRAMS.—Whenever the Director of the 
Congressional Budget Office provides an estimate of any measure 
that establishes or modifies any program providing loans or loan 
guarantees, the Director shall also, to the extent practicable, provide 
a fair-value estimate of such loan or loan guarantee program if 
requested by the chair of the Committee on the Budget of the 
House of Representatives. 
(b) STUDENT FINANCIAL ASSISTANCE AND HOUSING PROGRAMS.— 
The Director of the Congressional Budget Office shall provide, to 
the extent practicable, a fair-value estimate as part of any estimate 
for any measure that establishes or modifies a loan or loan guar-
antee program for student financial assistance or housing (including 
residential mortgage). 
(c) BASELINE ESTIMATES.—The Congressional Budget Office 
shall include estimates, on a fair-value and credit reform basis, 
of loan and loan guarantee programs for student financial assist-
ance, housing (including residential mortgage), and such other 
major loan and loan guarantee programs, as practicable, in its 
The Budget and Economic Outlook: 2018 to 2027. 
(d) ENFORCEMENT IN THE HOUSE OF REPRESENTATIVES.—If the 
Director of the Congressional Budget Office provides an estimate 
pursuant to subsection (a) or (b), the chair of the Committee on 
the Budget of the House of Representatives may use such estimate 
to determine compliance with the Congressional Budget Act of 
1974 and other budget enforcement requirements. 
SEC. 5107. ESTIMATES OF MACROECONOMIC EFFECTS OF MAJOR 
LEGISLATION. 
(a) CBO AND JCT ESTIMATES.—During the 115th Congress, 
any estimate of major legislation considered in the House of Rep-
resentatives provided by the Congressional Budget Office under 
section 402 of the Congressional Budget Act of 1974 or by the 
Joint Committee on Taxation to the Congressional Budget Office 
under section 201(f) of such Act shall, to the extent practicable, 
incorporate the budgetary effects of changes in economic output, 
employment, capital stock, and other macroeconomic variables 
resulting from such major legislation. 
(b) CONTENTS.—Any estimate referred to in subsection (a) shall, 
to the extent practicable, include— 
(1) a qualitative assessment of the budgetary effects 
(including macroeconomic variables described in subsection (a)) 
of the major legislation in the 20-fiscal year period beginning 
after the last fiscal year of the most recently agreed to concur-
rent resolution on the budget that sets forth budgetary levels 
required under section 301 of the Congressional Budget Act 
of 1974; and 
(2) an identification of the critical assumptions and the 
source of data underlying that estimate.
H. Con. Res. 71—43 
(c) DEFINITIONS.—In this section: 
(1) MAJOR
LEGISLATION.—The term ‘‘major legislation’’ 
means a bill or joint resolution, or amendment thereto or con-
ference report thereon— 
(A) for which an estimate is required to be prepared 
pursuant to section 402 of the Congressional Budget Act 
of 1974 (2 U.S.C. 653) and that causes a gross budgetary 
effect (before incorporating macroeconomic effects and not 
including timing shifts) in a fiscal year in the period of 
years of the most recently agreed to concurrent resolution 
on the budget equal to or greater than 0.25 percent of 
the current projected gross domestic product of the United 
States for that fiscal year; or 
(B) designated as such by— 
(i) the chair of the Committee on the Budget of 
the House of Representatives for all direct spending 
legislation; or 
(ii) the Member who is Chairman or Vice Chair-
man of the Joint Committee on Taxation for revenue 
legislation. 
(2) BUDGETARY
EFFECTS.—The term ‘‘budgetary effects’’ 
means changes in revenues, direct spending outlays, and defi-
cits. 
(3) TIMING SHIFTS.—The term ‘‘timing shifts’’ means— 
(A) provisions that cause a delay of the date on which 
outlays flowing from direct spending would otherwise occur 
from one fiscal year to the next fiscal year; or 
(B) provisions that cause an acceleration of the date 
on which revenues would otherwise occur from one fiscal 
year to the prior fiscal year. 
SEC. 5108. ADJUSTMENTS FOR IMPROVED CONTROL OF BUDGETARY 
RESOURCES. 
(a) ADJUSTMENTS
OF DISCRETIONARY
AND DIRECT SPENDING 
LEVELS.—In the House of Representatives, if a committee (other 
than the Committee on Appropriations) reports a bill or joint resolu-
tion, or an amendment thereto is offered or conference report 
thereon is submitted, providing for a decrease in direct spending 
(budget authority and outlays flowing therefrom) for any fiscal 
year and also provides for an authorization of appropriations for 
the same purpose, upon the enactment of such measure, the chair 
of the Committee on the Budget may decrease the allocation to 
the applicable authorizing committee that reports such measure 
and increase the allocation of discretionary spending (budget 
authority and outlays flowing therefrom) to the Committee on 
Appropriations for fiscal year 2018 by an amount equal to the 
new budget authority (and outlays flowing therefrom) provided 
for in a bill or joint resolution making appropriations for the same 
purpose. 
(b) DETERMINATIONS.—In the House of Representatives, for pur-
poses of enforcing this concurrent resolution, the allocations and 
aggregate levels of new budget authority, outlays, direct spending, 
revenues, deficits, and surpluses for fiscal year 2018 and the total 
of fiscal years 2018 through 2027 shall be determined on the basis 
of estimates made by the chair of the Committee on the Budget 
and such chair may adjust the applicable levels in this concurrent 
resolution.
H. Con. Res. 71—44 
SEC. 5109. SCORING RULE FOR ENERGY SAVINGS PERFORMANCE CON-
TRACTS. 
(a) IN GENERAL.—The Director of the Congressional Budget 
Office shall estimate provisions of any bill or joint resolution, or 
amendment thereto or conference report thereon, that provides 
the authority to enter into or modify any covered energy savings 
contract on a net present value basis (NPV). 
(b) NPV CALCULATIONS.—The net present value of any covered 
energy savings contract shall be calculated as follows: 
(1) The discount rate shall reflect market risk. 
(2) The cash flows shall include, whether classified as 
mandatory or discretionary, payments to contractors under the 
terms of their contracts, payments to contractors for other 
services, and direct savings in energy and energy-related costs. 
(3) The stream of payments shall cover the period covered 
by the contracts but not to exceed 25 years. 
(c) DEFINITION.—As used in this section, the term ‘‘covered 
energy savings contract’’ means— 
(1) an energy savings performance contract authorized 
under section 801 of the National Energy Conservation Policy 
Act; or 
(2) a utility energy service contract, as described in the 
Office of Management and Budget Memorandum on Federal 
Use of Energy Savings Performance Contracting, dated July 
25, 1998 (M–98–13), and the Office of Management and Budget 
Memorandum on the Federal Use of Energy Saving Perform-
ance Contracts and Utility Energy Service Contracts, dated 
September 28, 2015 (M–12–21), or any successor to either 
memorandum. 
(d) ENFORCEMENT IN THE HOUSE OF REPRESENTATIVES.—In the 
House of Representatives, if any net present value of any covered 
energy savings contract calculated under subsection (b) results in 
a net savings, then the budgetary effects of such contract shall 
not be counted for purposes of titles III and IV of the Congressional 
Budget Act of 1974, this concurrent resolution, or clause 10 of 
rule XXI of the Rules of the House of Representatives. 
(e) CLASSIFICATION
OF SPENDING.—For purposes of budget 
enforcement, the estimated net present value of the budget 
authority provided by the measure, and outlays flowing therefrom, 
shall be classified as direct spending. 
(f) SENSE OF THE HOUSE OF REPRESENTATIVES.—It is the sense 
of the House of Representatives that— 
(1) the Director of the Office of Management and Budget, 
in consultation with the Director of the Congressional Budget 
Office, should separately identify the cash flows under sub-
section (b)(2) and include such information in the President’s 
annual budget submission under section 1105(a) of title 31, 
United States Code; and 
(2) the scoring method used in this section should not 
be used to score any contracts other than covered energy 
savings contracts. 
SEC. 5110. LIMITATION ON TRANSFERS FROM THE GENERAL FUND 
OF THE TREASURY TO THE HIGHWAY TRUST FUND. 
In the House of Representatives, for purposes of the Congres-
sional Budget Act of 1974, the Balanced Budget and Emergency 
Deficit Control Act of 1985, and the rules or orders of the House
H. Con. Res. 71—45 
of Representatives, a bill or joint resolution, or an amendment 
thereto or conference report thereon, that transfers funds from 
the general fund of the Treasury to the Highway Trust Fund 
shall be counted as new budget authority and outlays equal to 
the amount of the transfer in the fiscal year the transfer occurs. 
SEC. 5111. PROHIBITION ON USE OF FEDERAL RESERVE SURPLUSES 
AS AN OFFSET. 
In the House of Representatives, any provision of a bill or 
joint resolution, or amendment thereto or conference report thereon, 
that transfers any portion of the net surplus of the Federal Reserve 
System to the general fund of the Treasury shall not be counted 
for purposes of enforcing the Congressional Budget Act of 1974, 
this concurrent resolution, or clause 10 of rule XXI of the Rules 
of the House of Representatives. 
SEC. 5112. PROHIBITION ON USE OF GUARANTEE FEES AS AN OFFSET. 
In the House of Representatives, any provision of a bill or 
joint resolution, or amendment thereto or conference report thereon, 
that increases, or extends the increase of, any guarantee fees of 
the Federal National Mortgage Association (Fannie Mae) or the 
Federal Home Loan Mortgage Corporation (Freddie Mac) shall not 
be counted for purposes of enforcing the Congressional Budget 
Act of 1974, this concurrent resolution, or clause 10 of rule XXI 
of the Rules of the House of Representatives. 
SEC. 5113. MODIFICATION OF RECONCILIATION IN THE HOUSE OF REP-
RESENTATIVES. 
(a) IN GENERAL.—Section 2002 shall have no force or effect. 
(b) RECONCILIATION IN THE HOUSE OF REPRESENTATIVES.—Not 
later than November 13, 2017, the Committee on Ways and Means 
of the House of Representatives shall report to the House of Rep-
resentatives changes in laws within its jurisdiction that increase 
the deficit by not more than $1,500,000,000,000 for the period 
of fiscal years 2018 through 2027. 
Subtitle B—Other Provisions 
SEC. 5201. BUDGETARY TREATMENT OF ADMINISTRATIVE EXPENSES. 
(a) IN GENERAL.—In the House of Representatives, notwith-
standing section 302(a)(1) of the Congressional Budget Act of 1974, 
section 13301 of the Budget Enforcement Act of 1990, and section 
2009a of title 39, United States Code, the report or the joint explana-
tory statement, as applicable, accompanying this concurrent resolu-
tion shall include in its allocation to the Committee on Appropria-
tions under section 302(a) of the Congressional Budget Act of 1974 
amounts for the discretionary administrative expenses of the Social 
Security Administration and the United States Postal Service. 
(b) SPECIAL RULE.—In the House of Representatives, for pur-
poses of enforcing section 302(f) of the Congressional Budget Act 
of 1974, estimates of the levels of total new budget authority and 
total outlays provided by a measure shall include any discretionary 
amounts described in subsection (a).