“(a) Review of Recommendations.—Upon receipt of the Board’s recommendations pursuant to subsections (b) and (h) of section 12, the Director of OMB shall conduct a review of the recommendations.
“(b) Report to Board and Congress.—Not later than 30 days after the receipt of the Board’s recommendations, the Director of OMB shall transmit to the Board and Congress a report that sets forth the Director of OMB’s approval or disapproval of the Board’s recommendations.
“(c) Approval and Disapproval.—“(1) Approval.—If the Director of OMB approves the Board’s recommendations, the Director of OMB shall transmit a copy of the recommendations to Congress, together with a certification of such approval.
“(2) Disapproval.—If the Director of OMB disapproves the Board’s recommendations, in whole or in part, the Director of OMB shall transmit a copy of the recommendations to Congress and the reasons for disapproval of the recommendations to the Board and Congress.
“(3) Revised recommendations.—Not later than 30 days after the receipt of reasons for disapproval under paragraph (2), the Board shall transmit to the Director of OMB revised recommendations for approval.
“(4) Approval of revised recommendations.—If the Director of OMB approves the revised recommendations, in whole or in part, received under paragraph (3), the Director of OMB shall transmit a copy of the recommendations to Congress, together with a certification of such approval.
“(d) Termination of Process for Given Round.—If the Director of OMB does not transmit to Congress an approval and certification described in paragraph (1) or (4) of subsection (c) on or before the 30th day following the receipt of the Board’s recommendations or revised recommendations, as the case may be, the process shall terminate until the following round, as described in section 12.
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