Rescission Bill Law and Legal Definition

"Rescission bill" means “a bill or joint resolution which only rescinds, in whole or in part, budget authority proposed to be rescinded in a special message transmitted by the President under section 1012 [2 USCS § 683], and upon which the Congress completes action before the end of the first period of 45 calendar days of continuous session of the Congress after the date on which the President's message is received by the Congress.” (2 USCS § 682)