Us Code § 3130 - Annual public debt report

Full text of Us Code United States Code § 3130 — Annual public debt report, with citation guidance and answers to common questions.

§ 3130. Annual public debt report

(a) General Rule.—On or before June 1 of each calendar year after 1993, the Secretary of the Treasury shall submit a report to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate on—

(1) the Treasury's public debt activities, and

(2) the operations of the Federal Financing Bank.


(b) Required Information on Public Debt Activities.—Each report submitted under subsection (a) shall include the following information:

(1) A table showing the following information with respect to the total public debt:

(A) The past levels of such debt and the projected levels of such debt as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch.

(B) The past debt to GDP ratios and the projected debt to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection.


(2) A table showing the following information with respect to the net public debt:

(A) The past levels of such debt and the projected levels of such debt as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch.

(B) The past debt to GDP ratios and the projected debt to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection.

(C) The interest cost on such debt for prior fiscal years and the projected interest cost on such debt for the current fiscal year and for the next 5 fiscal years under such most recent current services baseline projection.

(D) The interest cost to outlay ratios for prior fiscal years and the projected interest cost to outlay ratios for the current fiscal year and for the next 5 fiscal years under such most recent current services baseline projection.


(3) A table showing the maturity distribution of the net public debt as of the time the report is submitted and for prior years, and an explanation of the overall financing strategy used in determining the distribution of maturities when issuing public debt obligations, including a discussion of the projections and assumptions with respect to the structure of interest rates for the current fiscal year and for the succeeding 5 fiscal years.

(4) A table showing the following information as of the time the report is submitted and for prior years:

(A) A description of the various categories of the holders of public debt obligations.

(B) The portions of the total public debt held by each of such categories.


(5) A table showing the relationship of federally assisted borrowing to total Federal borrowing as of the time the report is submitted and for prior years.

(6) A table showing the annual principal and interest payments which would be required to amortize in equal annual payments the level (as of the time the report is submitted) of the net public debt over the longest remaining term to maturity of any obligation which is a part of such debt.


(c) Required Information on Federal Financing Bank.—Each report submitted under subsection (a) shall include (but not be limited to) information on the financial operations of the Federal Financing Bank, including loan payments and prepayments, and on the levels and categories of the lending activities of the Federal Financing Bank, for the current fiscal year and for prior fiscal years.

(d) Recommendations.—The Secretary of the Treasury may include in any report submitted under subsection (a) such recommendations to improve the issuance and sale of public debt obligations (and with respect to other matters) as he may deem advisable.

(e) Definitions.—For purposes of this section—

(1) Current fiscal year.—The term "current fiscal year" means the fiscal year ending in the calendar year in which the report is submitted.

(2) Total public debt.—The term "total public debt" means the total amount of the obligations subject to the public debt limit established in section 3101 of this title.

(3) Net public debt.—The term "net public debt" means the portion of the total public debt which is held by the public.

(4) Debt to gdp ratio.—The term "debt to GDP ratio" means the percentage obtained by dividing the level of the total public debt or net public debt, as the case may be, by the gross domestic product.

(5) Interest cost to outlay ratio.—The term "interest cost to outlay ratio" means, with respect to any fiscal year, the percentage obtained by dividing the interest cost for such fiscal year on the net public debt by the total amount of Federal outlays for such fiscal year.

(Added Pub. L. 103–202, title II, §201(a), Dec. 17, 1993, 107 Stat. 2355.)

CHAPTER 33—DEPOSITING, KEEPING, AND PAYING MONEY

SUBCHAPTER I—DEPOSITS AND DEPOSITARIES

Sec.
3301.
General duties of the Secretary of the Treasury.
3302.
Custodians of money.
3303.
Designation of depositaries.
3304.
Transfers of public money from depositaries.
3305.
Audits of depositaries.

        

SUBCHAPTER II—PAYMENTS

3321.
Disbursing authority in the executive branch.
3322.
Disbursing officials.
3323.
Warrants.
3324.
Advances.
3325.
Vouchers.
3326.
Waiver of requirements for warrants and advances.
3327.
General authority to issue checks and other drafts.
3328.
Paying checks and drafts.
3329.
Withholding checks to be sent to foreign countries.
3330.
Payment of Department of Veterans Affairs checks for the benefit of individuals in foreign countries.
3331.
Substitute checks.
3332.
Required direct deposit.
3333.
Relief for payments made without negligence.
3334.
Cancellation and proceeds distribution of Treasury checks.
3335.
Timely disbursement of Federal funds.
3336.
Electronic benefit transfer pilot.1

        

SUBCHAPTER III—MISCELLANEOUS

3341.
Sale of Government warrants, checks, drafts, and obligations.
3342.
Check cashing and exchange transactions.
3343.
Check forgery insurance fund.

        

SUBCHAPTER IV—IMPROPER PAYMENTS

3351.
Definitions.
3352.
Estimates of improper payments and reports on actions to reduce improper payments.
3353.
Compliance.
3354.
Do Not Pay Initiative.
3355.
Improving recovery of improper payments.
3356.
Improving the use of data by executive agencies for curbing improper payments.
3357.
Financial and administrative controls relating to fraud and improper payments.
3358.
Interagency working group for Governmentwide payment integrity improvement.

        

Editorial Notes

Amendments

2020—Pub. L. 116–117, §2(b), Mar. 2, 2020, 134 Stat. 133, added subchapter IV heading and items 3351 to 3358.

1994—Pub. L. 103–356, title IV, §402(b), Oct. 13, 1994, 108 Stat. 3413, substituted "Required direct deposit" for "Checks payable to financial organizations designated by Government officers and employees" in item 3332.

Pub. L. 103–272, §4(f)(1)(G), July 5, 1994, 108 Stat. 1362, added item 3334.

1991—Pub. L. 102–54, §13(l)(4)(B), June 13, 1991, 105 Stat. 277, substituted "Department of Veterans Affairs" for "Veterans' Administration" in item 3330.

1990—Pub. L. 101–453, §4(b), Oct. 24, 1990, 104 Stat. 1059, added item 3335.

1 Editorially supplied. Section 3336 added by Pub. L. 104–208 without corresponding amendment of chapter analysis.

SUBCHAPTER I—DEPOSITS AND DEPOSITARIES

About This Section

31 U.S.C. § 3130 is part of Title 31 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

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