To establish a deficit-neutral reserve fund relating to balancing the Federal budget.

1. Adds SEC. 3__. DEFICIT-NEUTRAL RESERVE FUND RELATING TO BALANCING THE FEDERAL BUDGET at the end of title III

   Adds a section

   In S.Con.Res. 11 · Placed on Calendar Senate

   The Chairman of the Committee on the Budget of the Senate may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports relating to a prohibition, except in the case of Federal assistance provided in response to a natural disaster, on any entity of the Federal Government from providing funds to State and local governments to prevent receivership or to facilitate exit from receivership or to prevent default on its obligations by a State government, by the amounts provided in such legislation for that purpose, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2016 through 2020 or the period of the total of fiscal years 2016 through 2025.

   Inserted: SEC. 3__. DEFICIT-NEUTRAL RESERVE FUND RELATING TO BALANCING THE FEDERAL BUDGET.

   Inserted: The Chairman of the Committee on the Budget of the Senate may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports relating to balancing the Federal budget, which may include legislation to ensure that total outlays for any fiscal year do not exceed total receipts for that fiscal year and legislation to ensure that total outlays for any fiscal year do not exceed 18 percent of the gross domestic product of the United States for the calendar year ending before the beginning of such fiscal year, by the amounts provided in such legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2016 through 2020 or the period of the total of fiscal years 2016 through 2025.

   Original wording

   At the end of title III, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed