effective date of this title, be it resolved by the House of Representatives of the United States (the Senate concurring), Congress hereby calls a convention for proposing amendments under article V of the United States Constitution in accordance with the Compact for a Balanced Budget. 103. Termination date If for any reason the convention for proposing amendments under article V of the United States Constitution contemplated herein has not permanently adjourned within one year from the effective date of this title, all titles of this resolution shall become null and void ab initio and shall be deemed repealed in its entirety. II Concurrent Resolution Prospectively Referring the Balanced Budget Amendment to State Legislatures for Ratification 201. Effective date This title does not take effect until Congress receives a certified conforming copy of the Balanced Budget Amendment, as defined by the Compact for a Balanced Budget and described herein, evidencing that the convention for proposing amendments under article V of the United States Constitution organized thereunder has approved and proposed the same for ratification. 202. Referral to legislatures of the several States for ratification Upon the effective date of this title, be it resolved by the House of Representatives of the United States (the Senate concurring), that the following article has been proposed as an amendment to the Constitution of the United States by a convention for proposing amendments under article V of the United States Constitution, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification:  — 1. Total outlays of the Government of the United States shall not exceed total receipts of the Government of the United States at any point in time unless the excess of outlays over receipts is financed exclusively by debt issued in strict conformity with this article. 2. Outstanding