S.Amdt. 771

SA 771. Mr. LEE submitted an amendment intended to be proposed by him
to the concurrent resolution S. Con. Res. 5, setting forth the
congressional budget for the United States Government for fiscal year
2021 and setting forth the appropriate budgetary levels for fiscal
years 2022 through 2030; which was ordered to lie on the table; as
follows:

At the end of title III, add the following:

SEC. 3___. SPENDING-NEUTRAL RESERVE FUND RELATING TO
COMPENSATING UNITS OF GENERAL LOCAL GOVERNMENT
FOR THE UNREALIZED TAX REVENUES THAT THE UNITS
OF GENERAL LOCAL GOVERNMENT WOULD BE ABLE TO
GENERATE FROM LAND FOR WHICH PAYMENTS ARE MADE
UNDER THE PAYMENT IN LIEU OF TAXES PROGRAM AT
THE ACTUAL AMOUNT OF THOSE UNREALIZED TAX
REVENUES.

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,
and make adjustments to the pay-as-you-go ledger, for one or
more bills, joint resolutions, amendments, amendments between
the Houses, motions, or conference reports relating to
compensating units of general local government (as defined in
section 6901 of title 31, United States Code) for the
unrealized tax revenues that the units of general local
government would be able to generate from land for which
payments are made under the payment in lieu of taxes program
established under chapter 69 of that title at the actual
amount of those unrealized tax revenues by the amounts
provided in such legislation for those purposes, provided
that such legislation would not raise new revenue and would
not increase the deficit over either the period of the total
of fiscal years 2021 through 2025 or the period of the total
of fiscal years 2021 through 2030.
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