Ill STAT. 692 PUBLIC LAW 105-33 —AUG. 5, 1997 revolving funds) other thein those covered by this subparagraph, the budget authority for which is not provided in advance by appropriation Acts.". (B) Clause 4(a)(2) of rule X of the Rules of the House of Representatives is amended by striking "new spending authority described in section 401(c)(2)(C)" and inserting "new entitlement authority as defined in section 3(9)" and by striking "total amount of new spending authority and inserting "total amount of new entitlement authority. (C) Clause 2(1)(3) of rule XI of the Rules of the House of Representatives is amended by striking "new spending authority as described in section 401(c)(2)" and by inserting "new entitlement authority as defined in section 3(9). (b) REPEALER OF SECTION 402. —Section 402 of the Congres- 2 USC 652. sional Budget Act of 1974 is repealed. (c) CONFORMING AMENDMENTS.— (1) REDESIGNATION. —Sections 403 through 407 of the Congressional Budget Act of 1974 are redesignated as sections 2 USC 653-656. 402 through 406, respectively. (2) GAG ANALYSIS.— Section 404 (as redesignated) of the 2 USC 654. Congressional Budget Act of 1974 is amended by striking "spending authority as described by section 401(c)(2) and which provide permanent appropriations," and inserting "mandatory spending". (3) TABLE OF CONTENTS.— The table of contents set forth in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended by— (A) striking the item for section 401 and inserting the following: "Sec. 401. Budget-related legislation not subject to appropriations. "; and (B) striking the item relating to section 402 and redesignating the items relating to sections 403 through 407 as the items relating to sections 402 through 406, respectively. (4) CONFORMING AMENDMENTS. — (A) Clause 2(1)(3) of rule XI of the Rules of the House of Representatives is amended by striking "section 403" and inserting "section 402". (B) Clause 7(d) of rule XIII of the Rules of the House of Representatives is amended by striking "section 403" and inserting "section 402". Loans. SEC. 10117. AMENDMENTS TO TITLE V. (a) SECTION 502. —Section 502 of the Federal Credit Reform 2 USC 661a. Act of 1990 is amended as follows: (1) In the second sentence of paragraph (1), insert "and financing arrangements that defer payment for more than 90 days, including the sale of a government asset on credit terms" before the period. (2) In paragraph (5)(A), insert "or modification thereof before the first comma. (3) In paragraph (5), strike subparagraphs (B) and (C) and insert the following: "(B) The cost of a direct loan shall be the net present value, at the time when the direct loan is disbursed, of the following estimated cash flows: "(i) loan disbursements; "(ii) repayments of principal; and
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