Title I: Recommended Levels and Amounts - Lists recommended budgetary levels and amounts, for FY 2003 through 2007, with respect to: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) on-budget deficits; (5) public debt; and (6) debt held by the public.
(Sec. 102) Sets forth the appropriate levels of new budget authority and outlays for homeland security for FY 2003.
(Sec. 103) Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY 2003 through 2007.
Title II: Reserve and Contingency Funds - Subtitle A: Reserve Funds for Legislation Assumed in Aggregates - Creates a reserve fund for the war on terrorism that requires the Chairman of the House Budget Committee to adjust the allocation of budget authority to the Committee on Appropriations or the Committee on Armed Services for any measure that provides funding for such war for FY 2003, up to a specified level.
(Sec. 202) Establishes reserve funds for: (1) medicare modernization, prescription drug coverage, and adjustments to the medicare program on a fee-for-service, capitated, or other basis for FY 2003 through 2012; (2) special education (grants to States under part B of the Individuals with Disabilities Education Act) for FY 2003 and for FY 2004 through 2007 (contingent upon reauthorization); and (3) the obligation limitation for FY 2003 for programs, projects, and activities within the highway category of the Balanced Budget and Emergency Deficit Control Act of 1985. Authorizes the chairman of the House Budget Committee to revise applicable allocations in new budget authority and/or outlays for such funds, up to specified levels and subject to certain conditions, in response to subsequent House or conference committee action.
Subtitle B: Additional Surpluses Reserved for Debt Reduction - Establishes a contingency fund for additional surpluses. Authorizes the chairman of the House Budget Committee to increase the surplus or reduce the deficit, as applicable, and reduce the level of the public debt and debt held by the public by the amount (if any) the estimated unified surplus for FY 2003 and for the period of FY 2003 through 2007, as set forth in the report Budget and Economic Outlook: Update (for FY 2003 through 2012), exceeds the estimated unified surplus for FY 2003 and for that period as set forth in the report for this resolution.
Subtitle C: Contingency Funds for Accounting Changes - Establishes a contingency fund for accrual accounting of Federal retirement and health benefits charged to Federal agencies. Authorizes the chairman of the House Budget Committee to revise specified allocations for the House Committee on Appropriations if such legislation is enacted in the House and the House Appropriations Committee reports a measure providing new budget authority to carry out such legislation. Prohibits such amounts from exceeding the resulting reduction (offset) in mandatory budget authority estimated by the Director of the Congressional Budget Office.
(Sec. 222) Establishes a contingency fund for reclassification of student accounts if the House enacts legislation amending the Higher Education Act to make student aid administration subject to annual appropriations. Requires an offsetting reduction in the allocation to the Committee on Education and the Workforce.
Subtitle D: Implementation of Contingency and Reserve Funds - Permits adjustments of allocations and aggregates made pursuant to this resolution only during the interval that the legislation is under consideration, not to take effect until enactment. Gives such adjustments the same effect as if they had been part of the original levels.
(Sec. 231) Makes a separate allocation to the appropriate committees for medicare. Sets forth committee instructions for the enforcement of such separate allocation.
Title III: Budget Enforcement - Limits advance appropriations to those programs identified in Accounts Identified for Advance Appropriations in the joint explanatory statement accompanying this resolution and the Corporation for Public Broadcasting. Provides enforcement mechanisms.
(Sec. 302) Includes the administrative expenses related to Social Security in the allocation to the Appropriations Committees.
(Sec. 303) Require the Congressional Budget Office report to include: (1) a comparison of the differing impact between forecasted economic variables used to model a year's projections and what actually happened; (2) technical factors that contributed to forecasting inaccuracies; (3) a variance analysis between forecasted and actual budget results; and (4) recommendations for forecasting improvement.
Title IV: Sense of Congress and Sense of House Provisions - Expresses the sense of Congress concerning: (1) combating infectious diseases; (2) asset building for the working poor; (3) Pacific Northwest salmon recovery; and (4) federal fire prevention assistance.
(Sec. 403) Expresses the sense of the House on: (1) federal employee pay; (2) Medicare+Choice regional disparities; and (3) border security and anti-terrorism.