H. R. 3376
IN THE HOUSE OF REPRESENTATIVES
November 4, 2011
Mr. Schilling introduced the following bill; which was referred to the Committee on Oversight and Government Reform
To curb wasteful spending by making 50 percent of year-end savings in salaries and expenses available for an additional fiscal year, and to use the remaining 50 percent for the purpose of deficit reduction.
This Act may be cited as the
Over Spending Act.
Extension of availability of year-end savings in salaries and expenses
Application to 50 percent of savings
Section 1502 of title 31, United States Code, is amended—
in subsection (a),
The and inserting
Except as provided in
subsection (c), the; and
by adding at the end the following new subsection:
Notwithstanding subsection (a), 50 percent of an unobligated balance available for salaries and expenses that would otherwise expire at the end of a fiscal year shall remain available for expenditure for the subsequent fiscal year, and 50 percent shall be used for the purpose of deficit reduction on return to the general fund of the Treasury. Unobligated balances carried forward to a subsequent fiscal year under this subsection may not be taken into account in determining the amount by which an agency will be funded for such subsequent fiscal year.
The amendments made by subsection (a) shall be effective with respect to unobligated balances of amounts made available after the date of the enactment of this Act.