A bill to modify the budget process to provide for seperate budget treatment of the dedicated tax revenues deposited in the Highway Trust Fund.
Highway Trust Fund Integrity Act of 1997 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) and the Congressional Budget Act of 1974 to define "revenue constrained fund" (fund) as the budget authority, outlays, and receipts of the Highway Account of the Highway Trust Fund. States that such fund shall not be: (1) considered part of any discretionary funding category or part of direct spending; or (2) subject to sequestration.
Amends the Congressional Budget Act of 1974 to prohibit any House of Representatives or Senate measure that would increase fiscal year budget authority for a fund above an amount made available under the Balanced Budget and Emergency Deficit Control Act of 1985.
Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to reduce available fund amounts so as not to exceed the previous year's deposited fund amounts.
States that any budgetary offset necessary because of additional spending provided by this Act should not come from surface transportation programs.
Directs the Secretary of the Treasury to report on ensuring the deficit neutrality of the Highway Trust Fund.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S1990-1991)
Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of of August 4, 1977, as modified by the order of April 11, 1986, with instructions that if one Committee reports, the other Committee have thirty days to report of be discharged.
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