
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC3130]

 
                       TITLE 31--MONEY AND FINANCE
 
                   SUBTITLE III--FINANCIAL MANAGEMENT
 
                         CHAPTER 31--PUBLIC DEBT
 
                      SUBCHAPTER II--ADMINISTRATIVE
 
Sec. 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, Sec. 201(a), Dec. 17, 1993, 107 Stat. 
2355.)
