S.Amdt. 100

SA 100. Mr. LEE submitted an amendment intended to be proposed by him
to the bill H.R. 3746, to provide for a responsible increase to the
debt ceiling; which was ordered to lie on the table; as follows:

Strike division D and insert the following:

DIVISION D--INCREASE IN THE DEBT LIMIT

SEC. 401. TEMPORARY EXTENSION OF PUBLIC DEBT LIMIT.

(a) Suspension.--Section 3101(b) of title 31, United States
Code, shall not apply during the period beginning on the date
of the enactment of this Act and ending on the applicable
date.
(b) Dollar Limitation on Suspension.--Subsection (a) shall
not apply to the extent that the application of such
subsection would result in the face amount of obligations
subject to limitation under section 3101(b) of title 31,
United States Code, exceeding the sum of--
(1) the dollar limitation in effect under such section on
the date of enactment of this Act; and
(2) $1,500,000,000,000.
(c) Applicable Date.--For purposes of this section, the
term ``applicable date'' means the earlier of--
(1) March 31, 2024; or
(2) the first date on which subsection (a) does not apply
by reason of subsection (b).
(d) Special Rule Relating to Obligations Issued During
Suspension Period.--Effective on the day after the applicable
date, the limitation in effect under section 3101(b) of title
31, United States Code, is increased to the extent that--
(1) the face amount of obligations issued under chapter 31
of such title and the face amount of obligations whose
principal and interest are guaranteed by the United States
Government (except guaranteed obligations held by the
Secretary of the Treasury) outstanding on the day after the
applicable date; exceeds
(2) the face amount of such obligations outstanding on the
date of enactment of this Act.
(e) Extension Limited to Necessary Obligations.--An
obligation shall not be taken into account under subsection
(d)(1) unless the issuance of such obligation was necessary
to fund a commitment incurred by the Federal Government that
required payment on or before the applicable date.
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