S.Amdt. 3026

SA 3026. Mr. VITTER submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 83, setting forth the congressional budget for the United States Government for fiscal year 2007 and including the appropriate budgetary levels for fiscal years 2006 and 2008 through 2011; which was ordered to lie on the table; as follows:

On page 43, between lines 22 and 23, insert the following:

SEC. 313. RESERVE FUND TO PREVENT CATASTROPHIC LOSS.

(a) Definition of Applicable Legislation.--In this section, the term “applicable legislation” means a bill or joint resolution, or an amendment or conference report relating to a bill or joint resolution, passed by the Committee on Environment and Public Works of the Senate that increases investment in measures designed to prevent catastrophic flood and hurricane damage in coastal areas if--

(1) the measures, if carried out, would be likely to decrease future expenditures from an appropriate disaster relief fund of the United States;

(2) the Committee is within the allocation to the Committee under section 302(a) of the Congressional Budget Act of 1974 (2 U.S.C. 633(a));

(3) the increase in investment in the measures does not exceed $10,000,000,000; and

(4) the measures are certified by the President as likely to prevent the loss of life and property.

(b) Adjustments.--The Chairperson of the Committee on Budget of the Senate may make appropriate adjustments in the allocations and aggregates to the extent that applicable legislation would not increase--

(1) the deficit for the fiscal year 2007; or

(2) the deficit for the period of fiscal years 2007 through 2011.