To provide for the rescission of unused transportation earmarks and to establish a general reporting requirement for any unused earmarks.

SA 3368. Mr. FEINGOLD (for himself and Mr. Coburn) submitted an
amendment intended to be proposed to amendment SA 3336 proposed by Mr.
Baucus to the bill H.R. 4213, to amend the Internal Revenue Code of
1986 to extend certain expiring provisions, and for other purposes; as
follows:

At the appropriate place, insert the following:

TITLE ___--RESCISSION OF UNUSED TRANSPORTATION EARMARKS AND
GENERAL REPORTING REQUIREMENT

SEC. _01. DEFINITION.

In this title, the term ``earmark'' means the following:
(1) A congressionally directed spending item, as defined in
Rule XLIV of the Standing Rules of the Senate.
(2) A congressional earmark, as defined for purposes of
Rule XXI of the Rules of the House of Representatives.

SEC. _02. RESCISSION.

Any appropriated earmark provided for the Department of
Transportation with more than 90 percent of the appropriated
amount remaining available for obligation at the end of the
9th fiscal year following the fiscal year in which the
earmark was made available is rescinded effective at the end
of that 9th fiscal year.

SEC. _03. AGENCY WIDE IDENTIFICATION AND REPORTS.

(a) Agency Identification.--Each Federal agency shall
identify and report every project that is an earmark with an
unobligated balance at the end of each fiscal year to the
Director of OMB.

[[Page S1093]]

(b) Annual Report.--The Director of OMB shall submit to
Congress and publically post on the website of OMB an annual
report that includes--
(1) a listing and accounting for earmarks with unobligated
balances summarized by agency including the amount of the
original earmark, amount of the unobligated balance, the year
when the funding expires, if applicable, and recommendations
and justifications for whether each earmark should be
rescinded or retained in the next fiscal year;
(2) the number of rescissions resulting from this title and
the annual savings resulting from this title for the previous
fiscal year; and
(3) a listing and accounting for earmarks provided for the
Department of Transportation scheduled to be rescinded at the
end of the current fiscal year.
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