‘‘(B) The term ‘funding’ does not include— 
‘‘(i) direct spending; 
‘‘(ii) budget authority in an appropriation 
measure which funds direct spending provided 
for in other law; 
‘‘(iii) any existing budget authority can-
celed in an appropriation measure; or 
‘‘(iv) any restriction or condition in an ap-
propriation measure or the accompanying state-
ment of managers or committee reports on the 
expenditure of budget authority for an account, 
program, project, or activity, or on activities in-
volving such expenditure. 
‘‘(10) WITHHOLD.—The terms ‘withhold’ and 
‘withholding’ apply to any executive action or inac-
tion that precludes the obligation of funding at a 
time when it would otherwise have been available to 
an agency for obligation. The terms do not include 
administrative or preparatory actions undertaken 
prior to obligation in the normal course of imple-
menting budget laws. 
‘‘(11) LIMITED TAX BENEFIT.— 
‘‘(A) The term ‘limited tax benefit’ 
means— 
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‘‘(i) 
any 
revenue-losing 
provision 
which provides a Federal tax deduction, 
credit, exclusion, or preference to 100 or 
fewer beneficiaries under the Internal Rev-
enue Code of 1986 in any fiscal year for 
which the provision is in effect; and 
‘‘(ii) any Federal tax provision which 
provides temporary or permanent transi-
tional relief for 10 or fewer beneficiaries in 
any fiscal year from a change to the Inter-
nal Revenue Code of 1986. 
‘‘(B) A provision shall not be treated as 
described in subparagraph (A)(i) if the effect of 
that provision is that— 
‘‘(i) all persons in the same industry 
or engaged in the same type of activity re-
ceive the same treatment; 
‘‘(ii) all persons owning the same type 
of property, or issuing the same type of in-
vestment, receive the same treatment; or 
‘‘(iii) any difference in the treatment 
of persons is based solely on— 
‘‘(I) in the case of businesses and 
associations, the size or form of the 
business or association involved; 
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‘‘(II) in the case of individuals, 
general demographic conditions, such 
as income, marital status, number of 
dependents, or tax return filing sta-
tus; 
‘‘(III) the amount involved; or 
‘‘(IV) a generally available elec-
tion under the Internal Revenue Code 
of 1986. 
‘‘(C) A provision shall not be treated as 
described in subparagraph (A)(ii) if— 
‘‘(i) it provides for the retention of 
prior law with respect to all binding con-
tracts or other legally enforceable obliga-
tions in existence on a date contempora-
neous with congressional action specifying 
such date; or 
‘‘(ii) it is a technical correction to pre-
viously enacted legislation that is estimated 
to have no revenue effect. 
‘‘(D) For purposes of subparagraph (A)— 
‘‘(i) all businesses and associations 
which are related within the meaning of 
sections 707(b) and (a) of the Internal 
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Revenue Code of 1986 shall be treated as 
a single beneficiary; 
‘‘(ii) all qualified plans of an employer 
shall be treated as a single beneficiary; 
‘‘(iii) all holders of the same bond 
issue shall be treated as a single bene-
ficiary; and 
‘‘(iv) if a corporation, partnership, as-
sociation, trust or estate is the beneficiary 
of a provision, the shareholders of the cor-
poration, the partners of the partnership, 
the members of the association, or the 
beneficiaries of the trust or estate shall not 
also be treated as beneficiaries of such pro-
vision. 
‘‘(E) For purposes of this paragraph, the 
term ‘revenue-losing provision’ means any pro-
vision which results in a reduction in Federal 
tax revenues for any one of the two following 
periods— 
‘‘(i) the first fiscal year for which the 
provision is effective; or 
‘‘(ii) the period of the 5 fiscal years 
beginning with the first fiscal year for 
which the provision is effective. 
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‘‘(F) The terms used in this paragraph 
shall have the same meaning as those terms 
have generally in the Internal Revenue Code of 
1986, unless otherwise expressly provided.’’. 
SEC. 3. TECHNICAL AND CONFORMING AMENDMENTS. 
(a) EXERCISE OF RULEMAKING POWERS.—Section 
904 of the Congressional Budget Act of 1974 (2 U.S.C. 
621 note) is amended— 
(1) in subsection (a), by striking ‘‘1017’’ and 
inserting ‘‘1013’’; and 
(2) in subsection (d), by striking ‘‘section 
1017’’ and inserting ‘‘section 1013’’. 
(b) CLERICAL AMENDMENTS.—(1) The last sentence 
of section 1(a) of the Congressional Budget and Impound-
ment Control Act of 1974 is amended to read as follows: 
‘‘Sections 1011 through 1016 of part B of title X may 
be cited as ‘A Fast-Tracked Executive Rescission Review 
(AFTER) of Appropriations Act of 2024’.’’. 
(2) Section 1017 of such Act (as redesignated) is 
amended by striking ‘‘section 1012 or 1013’’ each place 
it appears and inserting ‘‘section 1011 or 1019’’ and sec-
tion 1018 (as redesignated) is amended by striking ‘‘cal-
endar’’ and ‘‘of continuous session’’. 
(3) Section 1019(c) of such Act (as redesignated) is 
amended by striking ‘‘1012’’ and inserting ‘‘1011’’. 
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(4) TABLE OF CONTENTS.—The table of contents set 
forth in section 1(b) of the Congressional Budget and Im-
poundment Control Act of 1974 is amended by striking 
the items relating to parts B and C (including all of the 
items relating to the sections therein) of title X and insert-
ing the following: 
‘‘PART B—CONGRESSIONAL CONSIDERATION OF PROPOSED RESCISSIONS AND 
DEFERRALS OF BUDGET AUTHORITY AND OBLIGATION LIMITATIONS 
‘‘Sec. 1011. Congressional consideration of proposed rescissions and deferrals 
of budget authority and obligation limitations. 
‘‘Sec. 1012. Grants of and limitations on Presidential authority. 
‘‘Sec. 1013. Procedures for expedited consideration. 
‘‘Sec. 1014. Treatment of rescissions and cancellations. 
‘‘Sec. 1015. Definitions.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this Act shall apply to funding as defined in section 
1015(8) of the Congressional Budget Act and Impound-
ment Control of 1974 or any new item of direct spending 
or limited tax benefit in any Act enacted after the date 
of enactment of this Act. 
SEC. 4. APPROVAL MEASURES CONSIDERED. 
Section 314 of the Congressional Budget Act of 1974 
is amended— 
(1) by redesignating subsections (b) through (g) 
as subsections (c) through (h) and by inserting after 
subsection (a) the following new subsection: 
‘‘(b) ADJUSTMENTS FOR RESCISSIONS.—(1) When-
ever an approval bill passes the House of Representatives, 
the Committee on the Budget shall immediately reduce the 
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applicable allocations under section 302(a) by the total 
amount of reductions in budget authority and in outlays 
resulting from such approval bill. 
‘‘(2) As used in this subsection, the term ‘approval 
bill’ has the meaning given such term in section 1015.’’; 
and 
(2) in subsection (d) (as so redesignated), by 
inserting ‘‘or (b)’’ after ‘‘subsection (a)’’. 
Æ 
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