To establish a deficit-reduction reserve fund to protect private property rights by discouraging eminent domain abuse by State and local governments, while providing for continued economic development assistance eligibility where eminent domain is used for customary purposes, including to acquire property for public use, for public rights of way, to acquire abandoned property, or to remove immediate threats to public health and safety, and to provide that any savings will reduce the deficit.

SA 527. Mr. BOOZMAN proposed an amendment to the concurrent resolution S. Con. Res. 8, setting forth the congressional budget for the United States Government for fiscal year 2014, revising the appropriate budgetary levels for fiscal year 2013, and setting forth the appropriate budgetary levels for fiscal years 2015 through 2023; as follows:

At the appropriate place, insert the following:

SEC. ___. DEFICIT-REDUCTION RESERVE FUND FOR EMINENT DOMAIN ABUSE PREVENTION.

The Chairman of the Senate Committee on the Budget shall reduce allocations, pursuant to section 302(a) of the Congressional Budget Act of 1974, equal to amounts withheld pursuant to one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports related to federal economic development assistance, which may include amendments to the eligibility of a State or local government to receive benefits, including restricting benefits when eminent domain has been used to take private property and transfer it to another private use, and reduce the deficit over either the period of the total of fiscal years 2013 through 2018 or the period of the total of fiscal years 2013 through 2023. The Chairman may also make adjustments to the Senate's pay-as-you-go ledger over 6 and 11 years to ensure that the deficit reduction achieved is used for deficit reduction only. The adjustments authorized under this section shall be of the amount of deficit reduction achieved.