Congressional Budget Office Termination Act
Bill: H.R.9692 | Sponsor: Rep. Gohmert, Louie (R-TX)
Policy area: Economics and Public Finance

Summary:
Congressional Budget Office Termination Act
This bill abolishes the Congressional Budget Office.

To terminate the Congressional Budget Office, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Congressional Budget Office 
Termination Act''.

SEC. 2. ABOLISHMENT OF CONGRESSIONAL BUDGET OFFICE.

    (a) In General.--On the date that is one year after the date of 
enactment of this Act, the Congressional Budget Office is abolished.
    (b) Resolution and Termination of CBO Functions.--
            (1) Resolution of functions.--During the period beginning 
        on the date of enactment of this Act and ending on the 
        termination date in subsection (a)--
                    (A) the disposition and resolution of functions of 
                the CBO shall be completed in accordance with this Act; 
                and
                    (B) the Chief Administrator Officer, in 
                consultation with the Secretary, shall resolve all 
                functions that are transferred under this section and 
                are not otherwise continued under this Act.
            (2) Termination of functions.--All functions that are 
        transferred under this Act that are not otherwise continued by 
        this Act shall terminate on the date set forth in subsection 
        (a).
    (c) Responsibilities of the CAO.--
            (1) In general.--The Chief Administrative Officer, in 
        consultation with the Secretary, shall be responsible for the 
        implementation of this Act, including--
                    (A) the administration and wind-up, during the 
                wind-up period, of all functions of the CBO;
                    (B) the administration and wind-up, during the 
                wind-up period, of any outstanding obligations of the 
                CBO under any programs terminated by this Act; and
                    (C) taking such other actions as may be necessary 
                to wind-up any outstanding affairs of the CBO before 
                the termination date in subsection (a).
            (2) Transfer of assets and personnel.--In connection with 
        any delegation of functions, the Chief Administrative Officer, 
        in consultation with the Secretary, may transfer such assets, 
        funds, personnel, records, and other property relating to the 
        delegated function as the Chief Administrative Officer, in 
        consultation with the Secretary, determines to be appropriate.
    (d) Scoring.--
            (1) In general.--On or after the termination date set forth 
        in subsection (a), the Committees on the Budget of the House of 
        Representatives and the Senate shall publish, on the public 
        website of each such committee, a list of private, independent 
        entities that are able to provide cost estimates for 
        legislation that would otherwise be carried out by CBO pursuant 
        to the Congressional Budget and Impoundment Control Act of 
        1974, or any other law, rule, or regulation, but for the 
        requirements of this Act.
            (2) Bonus.--Subject to the availability of appropriations, 
        the chair of the Committee on the Budget of the House of 
        Representatives or the Senate may pay a bonus to any private 
        entity that, during any calendar year, provides estimates for 
        legislation pursuant to paragraph (1) that are each within five 
        percent of the actual cost of carrying out the enacted 
        legislation. In determining such actual cost, the chairs shall 
        consult with the Office of Management and Budget.
    (e) Definitions.--In this Act:
            (1) Chief administrative officer.--The term ``Chief 
        Administrative Officer'' refers to the Chief Administrative 
        Officer of the House of Representatives.
            (2) CBO.--The term ``CBO'' refers to the Congressional 
        Budget Office.
            (3) Secretary.--The term ``Secretary'' refers to the 
        Secretary of the Senate.
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