S.360 - Honest Expenditure Limitation Program Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Inhofe, James M. [R-OK] (Introduced 02/16/2011)|
|Committees:||Senate - Budget|
|Latest Action:||02/16/2011 Read twice and referred to the Committee on the Budget.|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Subject — Policy Area:
- Economics and Public Finance
- View subjects
Summary: S.360 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (02/16/2011)
Honest Expenditure Limitation Program Act of 2011 or HELP Act - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or the Senate to consider any bill, joint resolution, amendment, or conference report that includes any provision that would exceed specified non-security discretionary spending limits for FY2011-FY2021.
Limits non-security discretionary spending limits: (1) for FY2011-FY2016 to the levels provided in FY2008; and (2) for FY2017-FY2021 to such amount adjusted annually for inflation.
Defines "non-security discretionary spending" as discretionary spending other than spending for the Department of Defense (DOD), homeland security activities, intelligence-related activities within the Department of State, the Department of Veterans Affairs (VA), and national security related activities in the Department of Energy (DOE).
Requires the President to issue a sequestration order, effective on issuance, if the Office of Management and Budget (OMB) in its Final Discretionary Sequestration Report estimates that any sequestration is required.
Subjects to permanent cancellation any budgetary resources sequestered from any account, except those in special fund accounts or offsetting collections sequestered in appropriation accounts. Applies the same percentage sequestration to all programs, projects, and activities within a budget account.
Requires Discretionary Sequestration Preview Reports by: (1) OMB to the President and Congress; and (2) the Congressional Budget Office (CBO) to Congress. Requires the OMB report to explain the difference between OMB and CBO estimates for each item.
Requires the Final Discretionary Sequestration Reports to set forth estimates for: (1) the current year and each subsequent year through 2021; (2) the current year, if applicable, and, the budget year, the new budget authority and the breach, if any; (3) the sequestration percentages necessary to eliminate the breach; and (4) the level of enacted sequesterable budget authority, and resulting estimated outlays to be sequestered for each account.
Sets forth sequestration enforcement mechanisms.