To reduce preexisting PAYGO balances, and for other purposes.
Last action on Dec 2, 2002Became Public Law No: 107-312.
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Summary
Requires the Director of the Office of Management and Budget to reduce to zero any PAYGO balances of direct spending and receipts legislation for all fiscal years under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
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