Notes on 31 U.S.C. § 3101 : US Code - Notes

Search Notes on 31 U.S.C. § 3101 : US Code - Notes

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 938; Pub. L. 98-34, Sec.
1(a), May 26, 1983, 97 Stat. 196; Pub. L. 98-161, Nov. 21, 1983, 97
Stat. 1012; Pub. L. 98-342, Sec. 1(a), July 6, 1984, 98 Stat. 313;
Pub. L. 98-475, Oct. 13, 1984, 98 Stat. 2206; Pub. L. 99-177, Sec.
1, Dec. 12, 1985, 99 Stat. 1037; Pub. L. 99-384, Aug. 21, 1986, 100
Stat. 818; Pub. L. 100-119, Sec. 1, Sept. 29, 1987, 101 Stat. 754;
Pub. L. 101-72, Sec. 2, Aug. 7, 1989, 103 Stat. 182; Pub. L. 101-
140, Sec. 1, Nov. 8, 1989, 103 Stat. 830; Pub. L. 101-508, title
XI, Sec. 11901[(a)], Nov. 5, 1990, 104 Stat. 1388-560; Pub. L. 103-
66, title XIII, Sec. 13411(a), Aug. 10, 1993, 107 Stat. 565; Pub.
L. 104-121, title III, Sec. 301, Mar. 29, 1996, 110 Stat. 875; Pub.
L. 105-33, title V, Sec. 5701, Aug. 5, 1997, 111 Stat. 648; Pub. L.
107-199, Sec. 1, June 28, 2002, 116 Stat. 734; Pub. L. 108-24, May
27, 2003, 117 Stat. 710; Pub. L. 108-415, Sec. 1, Nov. 19, 2004,
118 Stat. 2337.)
HISTORICAL AND REVISION NOTES
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Revised Source (U.S. Code) Source (Statutes at Large)
Section
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3101(a) 31:757b(last Sept. 24, 1917, ch. 56, 40
sentence). Stat. 288, Sec. 21; added Feb.
4, 1935, ch. 5, Sec. 5, 49
Stat. 21; May 26, 1938, ch.
285, Sec. 2, 52 Stat. 447;
July 20, 1939, ch. 336, 53
Stat. 1071; June 25, 1940, ch.
419, Sec. 302, 54 Stat. 526;
Feb. 19, 1941, ch. 7, Sec.
2(a), 55 Stat. 7; Mar. 28,
1942, ch. 205, Sec. 2, 56
Stat. 189; Apr. 11, 1943, ch.
52, Sec. 2, 57 Stat. 63; June
9, 1944, ch. 240, Sec. 2, 58
Stat. 272; Apr. 3, 1945, ch.
51, Sec. 2, 59 Stat. 47; June
26, 1946, ch. 501, Sec. 1, 60
Stat. 316; restated Sept. 2,
1958, Pub. L. 85-912, 72 Stat.
1758; June 30, 1959, Pub. L.
86-74, Sec. 1, 73 Stat. 156;
June 30, 1967, Pub. L. 90-39,
Sec. 1, 81 Stat. 99; Apr. 7,
1969, Pub. L. 91-8, Sec. 1, 83
Stat. 7; June 30, 1970, Pub.
L. 91-301, Sec. 1, 84 Stat.
368; Mar. 17, 1971, Pub. L.
92-5, Sec. 1, 85 Stat. 5;
Sept. 29, 1979, Pub. L. 96-78,
Sec. 202, 93 Stat. 591.
3101(b) 31:757b(1st
sentence).
3101(c) 31:757b-1. June 30, 1967, Pub. L. 90-39,
Sec. 2, 81 Stat. 99.
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In subsection (a), the words "is deemed to be" are substituted
for "shall be considered . . . to be" because a legal fiction is
intended.
REFERENCES IN TEXT
The Rules of the House of Representatives for the One Hundred
Sixth Congress were adopted and amended generally by House
Resolution No. 5, One Hundred Sixth Congress, Jan. 6, 1999.
Provisions formerly appearing in Rule XLIX, referred to in subsec.
(b), were contained in Rule XXIII, which was subsequently repealed
by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3,
2001.
Section 1272(a) of the Internal Revenue Code of 1986, referred to
in subsec. (c), is classified to section 1272(a) of Title 26,
Internal Revenue Code.
AMENDMENTS
2004 - Subsec. (b). Pub. L. 108-415 substituted
"$8,184,000,000,000" for "$7,384,000,000,000".
2003 - Subsec. (b). Pub. L. 108-24 substituted
"$7,384,000,000,000" for "$6,400,000,000,000".
2002 - Subsec. (b). Pub. L. 107-199 substituted
"$6,400,000,000,000" for "$5,950,000,000,000".
1997 - Subsec. (b). Pub. L. 105-33 substituted
"$5,950,000,000,000" for "$5,500,000,000,000".
1996 - Subsec. (b). Pub. L. 104-121 substituted
"$5,500,000,000,000" for "$4,900,000,000,000".
1993 - Subsec. (b). Pub. L. 103-66 substituted
"$4,900,000,000,000" for "$4,145,000,000,000".
1990 - Subsec. (b). Pub. L. 101-508 substituted
"$4,145,000,000,000" for "$3,122,700,000,000".
1989 - Subsec. (b). Pub. L. 101-140 substituted
"$3,122,700,000,000" for "$2,800,000,000,000".
Subsec. (c). Pub. L. 101-72 amended subsec. (c) generally. Prior
to amendment, subsec. (c) read as follows: "The face amount of
beneficial interests and participations (except those held by their
issuer) issued under section 302(c) of the National Housing Act (12
U.S.C. 1717(c)) from July 1, 1967, through June 30, 1968, and
outstanding at any time shall be included in the amount taken into
account in deciding whether the face amount requirement of
subsection (b) of this section has been exceeded. This subsection
does not require a change in the budgetary accounting for
beneficial interests and participations."
1987 - Subsec. (b). Pub. L. 100-119 substituted
"$2,800,000,000,000" for "$2,111,000,000,000".
1986 - Subsec. (b). Pub. L. 99-384, which directed that subsec.
(b) be amended by "striking out the dollar limitation contained in
such subsection and inserting in lieu thereof '$2,111,000,000,000,'
", was executed by substituting "$2,111,000,000,000," for
"$1,847,800,000,000, or $2,078,700,000,000 on and after October 1,
1985," as the probable intent of Congress.
1985 - Subsec. (b). Pub. L. 99-177 substituted
"$1,847,800,000,000, or $2,078,700,000,000 on and after October 1,
1985" for "$1,575,700,000,000, or $1,823,800,000,000 on and after
October 1, 1984".
1984 - Subsec. (b). Pub. L. 98-475 substituted
"$1,575,700,000,000, or $1,823,800,000,000 on and after October 1,
1984," for "$1,573,000,000,000".
Pub. L. 98-342 substituted "$1,573,000,000,000" for
"$1,389,000,000,000, or $1,490,000,000,000 on and after October 1,
1983,".
1983 - Subsec. (b). Pub. L. 98-161 inserted ", or
$1,490,000,000,000 on and after October 1, 1983," after
"$1,389,000,000,000".
Pub. L. 98-34 substituted "$1,389,000,000,000" for
"$400,000,000,000".
TREATMENT OF CERTAIN OBLIGATIONS OF UNITED STATES
Pub. L. 104-115, Sec. 1(a)-(c), Mar. 12, 1996, 110 Stat. 825,
authorized Secretary of the Treasury to issue to each Federal fund
obligations of United States under this chapter before Mar. 30,
1996, in amount not to exceed certain designated limits, exempted
such obligations from public debt limit and provided for
termination of such exemption, and defined "Federal fund" for
purpose of section.
TIMELY PAYMENT OF MARCH 1996 SOCIAL SECURITY BENEFITS GUARANTEED
Pub. L. 104-103, Sec. 1, Feb. 8, 1996, 110 Stat. 55, as amended
by Pub. L. 104-115, Sec. 1(d), Mar. 12, 1996, 110 Stat. 825,
authorized Secretary of the Treasury to issue, before Mar. 1, 1996,
obligations of United States under this chapter in amount equal to
monthly insurance benefits payable in March 1996 under title II of
Social Security Act (42 U.S.C. 401 et seq.), exempted such
obligations from public debt limit and provided for termination of
such exemption.
REPEAL OF PERMANENT INCREASE IN PUBLIC DEBT LIMIT
Pub. L. 98-302, Sec. 1, May 25, 1984, 98 Stat. 217, which
permanently increased the public debt limit by $30,000,000,000
effective May 25, 1984, was repealed by Pub. L. 98-342, Sec. 1(b),
July 6, 1984, 98 Stat. 313, effective on and after July 6, 1984.
TEMPORARY INCREASES IN PUBLIC DEBT LIMIT
The public debt limit set forth in this section was temporarily
increased for limited periods by the following acts:
Oct. 28, 1990, Pub. L. 101-467, Sec. 106, 104 Stat. 1087 -
Increase to $3,230,000,000,000 for the period Oct. 28, 1990, to
Nov. 5, 1990.
Aug. 9, 1990, Pub. L. 101-350, Sec. 1, 104 Stat. 403, as amended
Oct. 2, 1990, Pub. L. 101-405, Sec. 1, 104 Stat. 878; Oct. 9, 1990,
Pub. L. 101-412, Sec. 114, 104 Stat. 897; Oct. 19, 1990, Pub. L.
101-444, Sec. 114, 104 Stat. 1033; Oct. 25, 1990, Pub. L. 101-461,
Sec. 114, 104 Stat. 1078 - Increase to $3,195,000,000,000 for the
period Aug. 9, 1990, to Oct. 27, 1990.
Aug. 7, 1989, Pub. L. 101-72, Sec. 1, 103 Stat. 182 - Increase of
$70,000,000,000 for the period Aug. 7, 1989, to Oct. 31, 1989.
Aug. 10, 1987, Pub. L. 100-84, 101 Stat. 550 - Increase to
$2,352,000,000,000 for the period Aug. 10, 1987, to Sept. 23, 1987.
May 15, 1987, Pub. L. 100-40, Sec. 1(a), 101 Stat. 308, as
amended July 30, 1987, Pub. L. 100-80, Sec. 1(a), 101 Stat. 542 -
Increase to $2,320,000,000,000 for the period May 15, 1987, to
August 6, 1987. [Section 1(b) of Pub. L. 100-80 provided that: "The
amendment made by subsection (a) [amending section 1(a) of Pub. L.
100-40] shall take effect on the date of the enactment of this Act
[July 30, 1987]."]
Nov. 14, 1985, Pub. L. 99-155, Sec. 1, 99 Stat. 814 - Provided
for a temporary increase of an amount determined by the Secretary
of the Treasury as necessary, but not to exceed a public debt limit
of $1,903,800,000,000 for the period Nov. 14, 1985, to Dec. 6,
1985.
June 28, 1982, Pub. L. 97-204, 96 Stat. 130 - Increase of
$743,100,000,000 for the period June 28, 1982, to Sept. 30, 1982.
Sept. 30, 1981, Pub. L. 97-49, 95 Stat. 956 - Increase of
$679,800,000,000 for the period Oct. 1, 1981, to Sept. 30, 1982.
REPEALS OF TEMPORARY INCREASES IN PUBLIC DEBT LIMIT
Pub. L. 103-12, Apr. 6, 1993, 107 Stat. 42, providing for a
temporary increase in public debt limit to $4,370,000,000,000 for
the period Apr. 6, 1993, to Sept. 30, 1993, was repealed by Pub. L.
103-66, title XIII, Sec. 13411(b), Aug. 10, 1993, 107 Stat. 565,
effective Aug. 10, 1993.
Pub. L. 99-509, title VIII, Sec. 8201, Oct. 21, 1986, 100 Stat.
1968, providing for a temporary increase in public debt limit of
$189,000,000,000 for the period Oct. 21, 1986, to May 15, 1987, was
repealed by Pub. L. 100-40, Sec. 1(b), May 15, 1987, 101 Stat. 308,
effective May 15, 1987.
Pub. L. 97-270, Sept. 30, 1982, 96 Stat. 1156, providing for a
temporary increase in public debt limit of $890,200,000,000 for the
period Oct. 1, 1982, to Sept. 30, 1983, was repealed by Pub. L. 98-
34, Sec. 1(b), May 26, 1983, 97 Stat. 196, effective May 26, 1983.
The following acts which temporarily increased the public debt
limit for limited periods were repealed by Pub. L. 97-258, Sec.
5(b), Sept. 13, 1982, 96 Stat. 1068:
Pub. L. 97-48, Sept. 30, 1981, 95 Stat. 955, provided for a
temporary increase of $599,800,000,000 for the period Sept. 30,
1981, to Sept. 30, 1981.
Pub. L. 97-2, Feb. 7, 1981, 95 Stat. 4, provided for a temporary
increase of $585,000,000,000 for the period Feb. 7, 1981, to Sept.
30, 1981.
Pub. L. 96-556, Sec. 1, Dec. 19, 1980, 94 Stat. 3261, provided
for a temporary increase of $535,100,000,000 for the period Oct. 1,
1980, to Sept. 30, 1981.
Pub. L. 96-286, Sec. 1, June 28, 1980, 94 Stat. 598, provided for
a temporary increase of $525,000,000,000 for the period June 28,
1980, to Feb. 28, 1981.
Pub. L. 96-78, title I, Sec. 101(a), Sept. 29, 1979, 93 Stat.
589, as amended Pub. L. 96-256, May 30, 1980, 94 Stat. 421; Pub. L.
96-264, Sec. 1, June 6, 1980, 94 Stat. 439, provided for a
temporary increase of $479,000,000,000 for the period Sept. 29,
1979, to June 30, 1980.
Pub. L. 96-5, Sec. 1, Apr. 2, 1979, 93 Stat. 8, providing for a
temporary increase of $430,000,000,000 for the period Apr. 2, 1979,
to Sept. 30, 1979, was also repealed by Pub. L. 96-79, title I,
Sec. 101(b), Sept. 29, 1979, 93 Stat. 589.
Pub. L. 95-333, Sec. 1, Aug. 3, 1978, 92 Stat. 419, providing for
a temporary increase of $398,000,000,000 in the public debt limit
for the period Oct. 3, 1978, to Mar. 31, 1979, was also repealed by
Pub. L. 96-5, Sec. 2, Apr. 2, 1979, 93 Stat. 8.
Pub. L. 95-120, Sec. 1, Oct. 4, 1977, 91 Stat. 1090, as amended,
providing for a temporary increase of $352,000,000,000 in the
public debt limit for the period Oct. 4, 1977, to July 31, 1978,
was also repealed by Pub. L. 95-333, Sec. 2, Aug. 3, 1978, 92 Stat.
419.
Pub. L. 94-334, Sec. 1, June 30, 1976, 90 Stat. 793, providing
for a temporary increase of $300,000,000,000 in the public debt
limit for the period Apr. 1, 1977, to Sept. 30, 1977, was also
repealed by Pub. L. 95-120, Sec. 2, Oct. 4, 1977, 91 Stat. 1090.
Pub. L. 94-232, Sec. 1, Mar. 15, 1976, 90 Stat. 217, provided for
a temporary increase of $227,000,000,000 for the period Mar. 15,
1976, to June 30, 1976.
Pub. L. 94-132, Sec. 1, Nov. 14, 1975, 89 Stat. 693, providing
for a temporary increase of $195,000,000,000 in the public debt
limit for the period Nov. 14, 1975, to Mar. 15, 1976, was also
repealed by Pub. L. 94-232, Sec. 2, Mar. 15, 1976, 90 Stat. 217.
Pub. L. 94-47, Sec. 1, June 30, 1975, 89 Stat. 246, providing for
a temporary increase of $177,000,000,000 in the public debt limit
for the period June 30, 1975, to Nov. 15, 1975, was also repealed
by Pub. L. 94-132, Sec. 2, Nov. 14, 1975, 89 Stat. 693.
Pub. L. 94-3, Sec. 1, Feb. 19, 1975, 89 Stat. 5, providing for a
temporary increase of $131,000,000,000 in the public debt limit for
the period Feb. 19, 1975, to June 30, 1975, was also repealed by
Pub. L. 94-47, Sec. 2, June 30, 1975, 89 Stat. 246.
Pub. L. 93-325, Sec. 1, June 30, 1974, 88 Stat. 285, providing
for a temporary increase of $95,000,000,000 in the public debt
limit for the period June 30, 1974, to Mar. 31, 1975, was also
repealed by Pub. L. 94-3, Sec. 2, Feb. 19, 1975, 89 Stat. 5.
Pub. L. 93-173, Sec. 1, Dec. 3, 1973, 87 Stat. 691, providing for
a temporary increase of $75,700,000,000 in the public debt limit
for the period of Dec. 3, 1973, to June 30, 1974, was also repealed
by Pub. L. 93-325, Sec. 2, June 30, 1974, 88 Stat. 285, eff. June
30, 1974.
Pub. L. 92-599, title I, Sec. 101, Oct. 27, 1972, 86 Stat. 1324,
as amended Pub. L. 93-53, Sec. 1, July 1, 1973, 87 Stat. 134,
providing for a temporary increase of $65,000,000,000 in the public
debt limit for the period of Nov. 1, 1972, to Nov. 30, 1973, was
also repealed by Pub. L. 93-173, Sec. 2, Dec. 3, 1973, 87 Stat.
691, eff. Dec. 3, 1973.
Pub. L. 92-250, Mar. 15, 1972, 86 Stat. 63, as amended Pub. L. 92-
336, title I, Sec. 1, July 1, 1972, 86 Stat. 406, provided for a
temporary increase of $20,000,000,000 for the period Mar. 15, 1972,
to Oct. 31, 1972.
Pub. L. 92-5, title I, Sec. 2(a), Mar. 17, 1971, 85 Stat. 5, as
amended July 1, 1972, Pub. L. 92-336, title I, Sec. 1, 86 Stat.
406, provided for a temporary increase of $30,000,000,000 for the
period of Mar. 17, 1971, to Oct. 31, 1972.
Pub. L. 91-301, Sec. 2, June 30, 1970, 84 Stat. 368, providing
for a temporary increase of $15,000,000,000 in the public debt
limit for the period of June 30, 1970, to June 30, 1971, was also
repealed by Pub. L. 92-5, title I, Sec. 2(b), Mar. 17, 1971, 85
Stat. 5, eff. Mar. 17, 1971.
Pub. L. 91-8, Sec. 2, Apr. 7, 1969, 83 Stat. 7, provided for a
temporary increase of $12,000,000,000 for the period Apr. 7, 1969,
to June 30, 1970.
Pub. L. 90-3, Mar. 2, 1967, 81 Stat. 4, provided for a temporary
increase from $285,000,000,000 to $336,000,000,000 for the period
Mar. 2, 1967.
Pub. L. 89-472, June 24, 1966, 80 Stat. 221, provided for a
temporary increase from $285,000,000,000 to $330,000,000,000 for
the period July 1, 1966, to June 30, 1967.
Pub. L. 89-49, June 24, 1965, 79 Stat. 172, provided for a
temporary increase from $285,000,000,000 to $328,000,000,000 for
the period July 1, 1965, to June 30, 1966.
Pub. L. 88-327, June 29, 1964, 78 Stat. 255, provided for a
temporary increase from $285,000,000,000 to $324,000,000,000 for
the period June 29, 1964, to June 30, 1965.
Pub. L. 88-187, Nov. 26, 1963, 77 Stat. 342, provided for a
temporary increase from $285,000,000,000 to $309,000,000,000 for
the period Dec. 1, 1963, to June 30, 1964 and a further increase of
$6,000,000,000 for the period Dec. 1, 1963 through June 29, 1964
because of variations in the timing of revenue receipts.
Pub. L. 88-106, Aug. 27, 1963, 77 Stat. 131, provided for a
temporary increase from $285,000,000,000 to $309,000,000,000 for
the period Sept. 1, 1963, to Nov. 30, 1963.
Pub. L. 88-30, Sec. 1(2), May 29, 1963, 77 Stat. 50, provided for
a temporary increase from $285,000,000,000 to $309,000,000,000 for
the period July 1, 1963, to Aug. 31, 1963.
Pub. L. 88-30, Sec. 1(1), May 29, 1963, 77 Stat. 50, provided for
a temporary increase from $285,000,000,000 to $307,000,000,000 for
the period May 29, 1963, to June 30, 1963.
Pub. L. 87-512, Sec. 1(3), July 1, 1962, 76 Stat. 124, provided
for a temporary increase from $285,000,000,000 to $300,000,000,000
for the period June 25, 1963, to June 30, 1963.
Pub. L. 87-512, Sec. 1(2), July 1, 1962, 76 Stat. 124, provided
for a temporary increase from $285,000,000,000 to $305,000,000,000
for the period Apr. 1, 1963, to June 24, 1963.
Pub. L. 87-512, Sec. 1(1), July 1, 1962, 76 Stat. 124, provided
for a temporary increase from $285,000,000,000 to $308,000,000,000
for the period July 1, 1962, to Mar. 31, 1963.
Pub. L. 87-414, Mar. 13, 1962, 76 Stat. 23, provided for a
temporary increase from $285,000,000,000 to $300,000,000,000 for
the period Mar. 13, 1962, to June 30, 1962.
Pub. L. 87-69, June 30, 1961, 75 Stat. 148, provided for a
temporary increase from $285,000,000,000 to $298,000,000,000 for
the period July 1, 1961, to June 30, 1962.
Pub. L. 86-564, title I, Sec. 101, June 30, 1960, 74 Stat. 290,
provided for a temporary increase from $285,000,000,000 to
$293,000,000,000 for the period July 1, 1960, to June 30, 1961.
Pub. L. 86-74, Sec. 2, June 30, 1959, 73 Stat. 156, provided for
a temporary increase from $285,000,000,000 to $295,000,000,000 for
the period July 1, 1959, to June 30, 1960.
Pub. L. 85-336, Feb. 26, 1958, 72 Stat. 27, provided for a
temporary increase from $275,000,000,000 to $280,000,000,000 for
the period Feb. 26, 1958, to June 30, 1959.
July 9, 1956, ch. 536, 70 Stat. 519, provided for a temporary
increase from $275,000,000,000 to $278,000,000,000 for the period
July 1, 1956, to June 30, 1957.
Aug. 28, 1954, ch. 1037, 68 Stat. 895, as amended by act June 30,
1955, ch. 256, 69 Stat. 241, provided for a temporary increase from
$275,000,000,000 to $281,000,000,000 for the period Aug. 28, 1954,
to June 30, 1956.
RESTORATION OF TRUST FUND INVESTMENTS
Provisions requiring the Secretary of the Treasury to restore
certain Federal trust funds and Government accounts to the position
they would have been if the debt limitation of 31 U.S.C. 3101(b)
had not prevented them from investing funds during specific periods
were contained in the following acts:
Pub. L. 101-508, title XI, Sec. 11901(b), Nov. 5, 1990, 104 Stat.
1388-560.
Pub. L. 101-140, title III, Sec. 301, Nov. 8, 1989, 103 Stat.
833.
Pub. L. 99-177, title II, Sec. 272, Dec. 12, 1985, 99 Stat. 1095.
(!1) See References in Text note below.