Paul Tonko: “I have an amendment at the desk. The CHAIR. The Clerk will designate the amendment. The text of the amendment is as…”

“I have an amendment at the desk. The CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill, add the following new title: TITLE IV--EFFECTIVE DATE; ESTABLISHMENT OF COMMISSION SEC. 401. EFFECTIVE DATE; ESTABLISHMENT OF COMMISSION. (a) Effective Date; Establishment.--The provisions of this Act are delayed until and may be superseded by the majority recommendations of a six member commission consisting of the Director of the Congressional Budget Office, the Director of the Office of Management and Budget, and four additional non- congressional members each appointed by the Speaker and Minority Leader of the House and the Majority and Minority leaders of the Senate. Such additional four Members shall have expertise in budgeting and accounting. (b) Recommendations.--The recommendations of the commission shall reflect the best measure to accurately account for the costs of Federal credit programs, including an analysis of the fair value, market-based risk estimates, and the discount rates mandated by the Federal Credit Reform Act of 1990. (c) Congressional Vote Required.--Such recommendations shall take effect upon their enactment into law. Congress shall vote on the recommendations set forth in subsection (b) not later than 45 days after the date of submission of such recommendations to the Congress. The CHAIR. Pursuant to House Resolution 539, the gentleman from New York (Mr.…”