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H.R. 3376 (112th): Saving Over Spending Act

The text of the bill below is as of Nov 4, 2011 (Introduced).


I

112th CONGRESS

1st Session

H. R. 3376

IN THE HOUSE OF REPRESENTATIVES

November 4, 2011

introduced the following bill; which was referred to the Committee on Oversight and Government Reform

A BILL

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.

1.

Short title

This Act may be cited as the Saving Over Spending Act.

2.

Extension of availability of year-end savings in salaries and expenses

(a)

Application to 50 percent of savings

Section 1502 of title 31, United States Code, is amended—

(1)

in subsection (a), by striking The and inserting Except as provided in subsection (c), the; and

(2)

by adding at the end the following new subsection:

(c)

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.

.

(b)

Effective date

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.