116 STAT. 2456 PUBLIC LAW 107-312—DEC. 2, 2002 Dec. 2, 2002 [H.R. 5708] Public Law 107-312 107th Congress An Act To reduce preexisting PAYGO balances, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, 2 USC 902 note. SECTION 1. REDUCTION OF PREEXISTING PAYGO BALANCES. Upon the enactment of this Act, the Director of the Office of Management and Budget shall reduce any balances of direct spending and receipts legislation for all fiscal years under section 252 of the Balanced Budget and Emergency Deficit Control Act of 1985 to zero. Approved December 2, 2002. LEGISLATIVE HISTORY—H.R. 5708: CONGRESSIONAL RECORD, Vol. 148 (2002): Nov. 14, considered and passed House. Nov. 15, considered and passed Senate.
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