[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1182 Introduced in House (IH)]
103d CONGRESS
1st Session
H. R. 1182
To improve budgetary information by requiring that the unified budget
presented by the President contain an operating budget and a capital
budget, distinguish between general funds, trust funds, and enterprise
funds, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 2, 1993
Mr. Wise (for himself, Mr. Borski, Mr. Abercrombie, Mr. Barcia, Ms.
Danner, Mr. Mann, Ms. Kaptur, Mr. McCloskey, Mr. Hinchey, Mrs. Byrne,
Mr. Sundquist, Mrs. Mink, Mr. Peterson of Minnesota, Mr. Blute, Mr.
Filner, Mr. Hughes, Mr. Clinger, and Mr. Lancaster) introduced the
following bill; which was referred jointly to the Committees on
Government Operations, Rules, and Public Works and Transportation
_______________________________________________________________________
A BILL
To improve budgetary information by requiring that the unified budget
presented by the President contain an operating budget and a capital
budget, distinguish between general funds, trust funds, and enterprise
funds, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Capital Budgeting Act of 1993''.
SEC. 2. STATEMENT OF FINDING AND PURPOSE.
(a) Statement of Finding.--The Congress finds that the existing
budget obscures the distinctions between capital activities and
operating activities, and between general funds, trust funds, and
enterprise funds, so as to hinder identification of the resources
needed to meet the needs of the Government and the investment needs of
the economy that are necessary for sustained economic growth.
(b) Purpose.--It is the purpose of this Act that the unified budget
present a capital budget and an operating budget, and distinguish
between general funds, trust funds, and enterprise funds, in order to
provide better and more relevant information on the revenues, expenses,
and financing requirements of Government programs and activities.
SEC. 3. CAPITAL AND OPERATING BUDGETS.
Title 31, United States Code, is amended by inserting after section
1105 the following new section:
Sec. 1105a. Capital and operating budgets
``(a)(1) The budget of the United States submitted by the President
under section 1105 of this title shall be a unified budget composed of
an operating budget and a capital budget.
``(2) Operating and capital budgets shall be presented separately
for unified funds, general funds, trust funds, and enterprise funds.
``(b)(1) Actual, estimated, and proposed amounts shall be presented
for unified funds, general funds, trust funds, and enterprise funds,
and, at a minimum, shall contain--
``(A) for the operating budget the following: (i) operating
revenues, (ii) operating expenses, (iii) operating surplus/
deficit before interfund transfers, (iv) interfund transfers,
(v) operating surplus/deficit, and (vi) Federal expenditures
financing the operating expenses of State and local
governments;
``(B) for the capital budget the following: (i) capital
revenues, (ii) capital investments, (iii) capital financing
requirements before interfund transfers, (iv) interfund
transfers, and (v) capital financing requirements; and
``(C) unified budget financing requirements.
``(2) The capital budget shall represent only the major activities,
projects, and programs which support the acquisition, construction,
alteration, and rehabilitation of capital assets. All other activities,
projects, and programs shall be represented in the operating budget.
``(c) In addition to the unified budget submitted by the President
as required by subsections (a) and (b) of this section, the President
shall present information in the form required by subsection (b)(1) for
accounts, agencies, and functions, to the extent applicable, the
capital investments by State and local governments not financed by the
Federal Government.
``(d) In this section--
``(1) `unified budget' means a budget in which revenues and
expenses for general funds, trust funds, and enterprise funds
are consolidated to display totals for the Federal Government
as a whole;
``(2) `trust funds' means--
``(A) the Federal Old-Age and Survivors Insurance
Trust Fund,
``(B) the Federal Hospital Insurance Trust Fund,
``(C) the Civil Service Retirement and Disability
Fund,
``(D) the Military Retirement Fund,
``(E) the Federal Supplementary Medical Insurance
Trust Fund,
``(F) the Unemployment Trust Fund,
``(G) the Federal Disability Insurance Trust Fund,
``(H) the Highway Trust Fund,
``(I) the Airport and Airway Trust Fund, and
``(J) such other funds or accounts of the
Government that the Director of the Office of
Management and Budget, in consultation with the
Comptroller General, determines should be classified as
trust funds in order to fulfill the purpose of this
section;
``(3) `enterprise funds' means--
``(A) the Postal Service,
``(B) the Resolution Trust Corporation,
``(C) the Federal Deposit Insurance Corporation
Fund,
``(D) the Federal Housing Administration,
``(E) the Tennessee Valley Authority Fund,
``(F) the Bonneville Power Administration Fund,
``(G) the Rural Electrification and Telephone
Revolving Loan Fund,
``(H) the Export-Import Bank of the United States,
``(I) the Southeastern Power Administration,
``(J) the Southwestern Power Administration,
``(K) the Western Area Power Administration,
``(L) the Alaska Power Administration,
``(M) the Overseas Private Investment Corporation,
``(N) the St. Lawrence Seaway Development
Corporation,
``(O) the Rural Telephone Bank,
``(P) the Pension Benefit Guaranty Corporation, and
``(Q) such other funds or accounts of the
Government that the Director of the Office of
Management and Budget, in consultation with the
Comptroller General, determines should be classified as
enterprise funds in order to fulfill the purpose of
this section;
``(4) `general funds' includes all accounts of the
Government that are not trust funds or enterprise funds;
``(5) `unified funds' means general funds, trust funds, and
enterprise funds and represents the unified budget;
``(6) `capital assets' means physical assets and financial
assets, but does not include consumable inventories;
``(7) `physical assets' means tangible assets (other than
assets used for national defense or security)--
``(A) the ownership of which is or will be in the
public domain;
``(B) that produce services or benefits for more
than 5 years;
``(C) that have an initial cost equal to or more
than $500,000; and
``(D) including--
``(i) roadways and bridges;
``(ii) airports and airway facilities;
``(iii) mass transportation systems;
``(iv) waste water treatment, water
distribution delivery, and related facilities;
``(v) water resource projects;
``(vi) medical facilities;
``(vii) resource recovery facilities;
``(viii) public structures;
``(ix) space and communication facilities;
and
``(x) strategic petroleum reserves and
mineral stockpiles;
``(8) `financial assets' means interests of the Federal
Government in, and claims of the Federal Government against,
foreign governments, States and their political subdivisions,
corporations, associations, and individuals and their resources
which are represented by a legal instrument (such as bonds,
debentures, notes, and other securities), less any credit
subsidy costs attributable to such financial assets;
``(9) `credit subsidy costs' means the losses incurred by
the Federal Government as a result of its direct and guaranteed
loans, including such costs as interest and default;
``(10) `consumable inventories' means tangible assets of
the Federal Government, including stockpiles, supplies, and
inventories, which typically are consumed within 5 years or
which have an initial price less than $500,000;
``(11) `operating revenues' means all receipts of the
Federal Government, other than those identified in paragraph
(17), including profits and interest earned on financial
assets;
``(12) `operating expenses' means all expenses of the
Federal Government, other than those identified in paragraph
(18), including interest payments on debts, asset consumption
charge, and credit subsidy costs;
``(13) `the operating surplus/deficit before interfund
transfers' means the difference between operating revenues and
operating expenses before interfund transfers;
``(14) `interfund transfers' means the flow of revenues
between general and enterprise funds and trust funds accounts
that are expenses from the account making the payments and
revenues to the account receiving the payments;
``(15) `operating surplus/deficit' means the operating
surplus/deficit before interfund transfers plus or minus
interfund transfers;
``(16) `asset consumption charge' means the systematic and
rational allocation of the cost--historical, replacement, or
current value--of a physical asset (having a useful life of
more than 5 years) financed by the appropriation accounts for
which the capital budget required by this section applies;
``(17) `capital revenues' means receipts of the Federal
Government derived from taxes, collections, and receipts
dedicated by statute, for the rehabilitation of capital assets
which relate to the activities, functions, and programs
represented by the capital budget;
``(18) `capital investments' means expenditures of the
Federal Government, including those under grants, contracts,
and leases, which are for the acquisition, construction, and
rehabilitation of capital assets; and Federal expenditures
(including tax expenditures) which are for the acquisition,
construction, and rehabilitation of the physical assets of
State and local governments;
``(19) `capital financing requirements before interfund
transfers' means the difference between capital revenues and
capital investments before interfund transfers;
``(20) `capital financing requirements' means financing
requirements before interfund transfers plus or minus interfund
transfers; and
``(21) `unified budget financing requirements' means the
total of the operating surplus/deficit and the capital
financing requirements; and
SEC. 4. CONFORMING AMENDMENTS
Section 1112 of title 31, United States Code, is amended--
(1) in subsection (c)(1) by inserting ``criteria,
principles, and standards for determining the contents of the
operating and capital budgets required under section 1105a of
this title, and'' after ``including''; and
(2) by adding the following subsection at the end thereof:
``(g) The Comptroller General shall review and report to the
Congress on the implementation of section 1105a of this title as the
Comptroller General deems necessary. A review by the Comptroller
General may include determining whether--
``(1) the actual, estimated, and proposed appropriations,
receipts, and investments presented in the capital budget
represent activities, functions, and programs which support the
acquisition, construction, alteration, and rehabilitation of
capital assets; and
``(2) the classifications made by the Director of the
Office of Management and Budget under section 1105a(d)(2)(H) of
this title further the purposes of section 1105a.''.
SEC. 5. REPORT BY THE COMMITTEE ON THE BUDGET.
Not later than September 30, 1994, the Committee on the Budget
shall submit to the House of Representatives proposed legislation which
shall establish additional deficit targets under the Balanced Budget
and Emergency Deficit Control Act of 1985 beginning in fiscal year 1995
which would require the eventual elimination of deficits in the
operating account as set forth in the amendments made by this Act in
accordance with the Committee on the Budget's proposed deficit targets.
SEC. 6. REPORT BY THE COMMITTEE ON GOVERNMENT OPERATIONS.
Not later than September 30, 1994, the Committee on Government
Operations of the House of Representatives shall report legislation
directing the Comptroller General to evaluate--
(1) on an annual basis, the value and usefulness of capital
investments in the capital account as set forth in the
amendments made by this Act; and
(2) the value and usefulness of proposed capital
investments submitted to the House of Representatives after the
enactment of this Act.
SEC. 7. REPORT BY THE COMMITTEE ON RULES.
Not later than September 30, 1994, the Committee on Rules of the
House of Representatives shall report legislation establishing rules to
facilitate the enforcement of the amendments made by this Act to title
31, United States Code.
SEC. 8. PUBLIC WORKS FINANCING INFORMATION.
Title VII of the Public Works and Economic Development Act of 1965
(42 U.S.C. 3211-3226) is amended by adding at the end the following new
section:
``SEC. 717. PUBLIC WORKS FINANCING INFORMATION.
``(a) Transportation Reports.--Not later than 12 months after the
date of enactment of the Capital Budgeting Act of 1993, and annually
thereafter, the Secretary of Transportation shall report to the House
Committee on Public Works and Transportation and the Senate Committee
on Environment and Public Works, at the account, function, and agency
levels, the actual, estimated, and proposed appropriations, receipts,
and expenditures for capital activities and operating activities
associated with the following:
``(1) roadways and bridges;
``(2) airports and airway facilities; and
``(3) mass transportation systems.
``(b) Water Pollution Reports.--Not later than 12 months after the
date of enactment of the Capital Budgeting Act of 1993 and annually
thereafter, the Administrator of the Environmental Protection Agency
shall report to the House Committee on Public Works and Transportation
and the Senate Committee on Environment and Public Works, at the
account and function levels, the actual, estimated, and proposed
appropriations, receipts, and expenditures for capital activities and
operating activities associated with waste water treatment, water
distribution delivery, and related facilities.
``(c) Water Resources Reports.--Not later than 12 months after the
date of enactment of the Capital Budgeting Act of 1993 and annually
thereafter, the Assistant Secretary of the Army for Civil Works shall
report to the House Committee on Public Works and Transportation and
the Senate Committee on Environment and Public Works, at the account
and function levels, the actual, estimated, and proposed
appropriations, receipts, and expenditures for capital activities and
operating activities associated with water resource projects.
``(d) Public Buildings Reports.--Not later than 12 months after the
date of enactment of the Capital Budgeting Act of 1993 and annually
thereafter, the Administrator of the General Services Administration
shall report to the House Committee on Public Works and Transportation
and the Senate Committee on Environment and Public Works, at the
account and function levels, the actual, estimated, and proposed
appropriations, receipts, and expenditures for capital activities and
operating activities associated with public buildings.''.
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