President's Second Special Message for Fiscal Year 1986

OGC-86-3: Published: Jan 6, 1986. Publicly Released: Jan 6, 1986.

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GAO reviewed the President's second special message for fiscal year 1986 which proposed eight new budget authority deferrals totalling over $2 billion.

GAO noted that a full year deferral of annual funds, with no clear indication of conditions upon which the funds would be made available, raised the question of whether this message should be reclassified as a rescission. GAO found that: (1) a deferral is appropriate while a decision is being made; (2) as a result of the enactment of the Department of Commerce Appropriation Act of 1986, no new budget authority will be provided for the Fisheries Loan Fund; (2) the Fisheries Loan Fund will cease to exist on September 30, 1986, and any balance then in the fund or money received thereafter will be transferred to the Treasury as miscellaneous receipts; and (3) a proposal is now under consideration to seek a legislative transfer of these funds to another account.

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