To establish a reserve fund to prevent catastrophic loss.

SA 3078. 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.

If--

(1) the Committee on Environment and Public Works of the Senate reports a bill or joint resolution, or if an amendment is offered thereto, or if a conference report is submitted thereon, that increases investment in measures designed to prevent catastrophic flood and hurricane damage in coastal areas such that--

(A) the measures, when completed, will likely decrease future expenditures from the Disaster Relief Fund;

(B) the increases do not exceed $10,000,000,000; and

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

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

the Chairperson of the Committee on Budget of the Senate may make the appropriate adjustments in the allocations and aggregates to the extent that such legislation would not increase the deficit for the fiscal year 2007 and for the period of fiscal years 2007 through 2011.