OMB and CBO analysis, coordination, and review

U.S.C. Title 2 - THE CONGRESS 2 U.S.C. United States Code, 2023 Edition Title 2 - THE CONGRESS CHAPTER 17A - CONGRESSIONAL BUDGET AND FISCAL OPERATIONS SUBCHAPTER III - CREDIT REFORM Sec. 661b - OMB and CBO analysis, coordination, and review From the U.S. Government Publishing Office, www.gpo.gov

§661b. OMB and CBO analysis, coordination, and review

(a) In general For the executive branch, the Director shall be responsible for coordinating the estimates required by this subchapter. The Director shall consult with the agencies that administer direct loan or loan guarantee programs. (b) Delegation The Director may delegate to agencies authority to make estimates of costs. The delegation of authority shall be based upon written guidelines, regulations, or criteria consistent with the definitions in this subchapter. (c) Coordination with Congressional Budget Office In developing estimation guidelines, regulations, or criteria to be used by Federal agencies, the Director shall consult with the Director of the Congressional Budget Office. (d) Improving cost estimates The Director and the Director of the Congressional Budget Office shall coordinate the development of more accurate data on historical performance of direct loan and loan guarantee programs. They shall annually review the performance of outstanding direct loans and loan guarantees to improve estimates of costs. The Office of Management and Budget and the Congressional Budget Office shall have access to all agency data that may facilitate the development and improvement of estimates of costs. (e) Historical credit program costs The Director shall review, to the extent possible, historical data and develop the best possible estimates of adjustments that would convert aggregate historical budget data to credit reform accounting. (f) Administrative costs The Director and the Director of the Congressional Budget Office shall each analyze and report to Congress on differences in long-term administrative costs for credit programs versus grant programs by January 31, 1992. Their reports shall recommend to Congress any changes, if necessary, in the treatment of administrative costs under credit reform accounting.

(Pub. L. 93–344, title V, §503, as added Pub. L. 101–508, title XIII, §13201(a), Nov. 5, 1990, 104 Stat. 1388–611.)

Editorial Notes

Prior Provisions A prior section 503 of Pub. L. 93–344, title V, July 12, 1974, 88 Stat. 321, was classified to section 701 of former Title 31, prior to repeal and reenactment in section 1552(a) of Title 31, Money and Finance, by Pub. L. 97–258, §5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.