Preamble
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1
— REDUCTION OF PREEXISTING PAYGO
BALANCES.
Upon the enactment of this Act, the Director of the Office of Management and Budget shall reduce any balances of direct spending and receipts legislation for all fiscal years under section 252 of the Balanced Budget and Emergency Deficit Control Act of 1985 to zero.
Approved December 2, 2002.
LEGISLATIVE HISTORY--H.R. 5708: ---------------------------------------------------------------------------
CONGRESSIONAL RECORD, Vol. 148 (2002): Nov. 14, considered and passed House. Nov. 15, considered and passed Senate.
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