H.R.1233 - Capital Budgeting Act of 1995104th Congress (1995-1996)
Summary: H.R.1233 — 104th Congress (1995-1996)
Introduced in House (03/14/1995)
Capital Budgeting Act of 1995 - Amends Federal law to require that the budget the President submits to the Congress be a unified budget comprising an operating budget and a capital budget, each presented separately for unified, general, trust, and enterprise funds. Restricts the capital budget to the major activities and programs supporting the acquisition, construction, alteration, and rehabilitation of capital assets and includes all other items in the operating budget. Requires the President to present certain additional information, including the capital investments by State and local governments not financed by the Federal Government.
Requires the House Committee on the Budget to submit legislation to establish additional deficit targets under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) beginning in FY 1996 which would require the eventual elimination of deficits in the operating account.
Requires the House Committee on Government Reform and Oversight to report legislation directing the Comptroller General to evaluate the value and usefulness of: (1) capital investments in the capital account on an annual basis; and (2) proposed capital investments submitted to the House after enactment of this Act.
Requires the House Committee on Rules to report legislation establishing rules to facilitate the enforcement of amendments made by this Act.
Amends the Public Works and Economic Development Act of 1965 to require reports to specified congressional committees on the actual, estimated, and proposed appropriations, receipts, and expenditures for capital and operating activities associated with certain transportation, water, and public buildings projects.