; and (2) an identification of the critical assumptions and the source of data underlying that estimate. (c) Definitions In this section: (1) Major legislation The term major legislation means— (A) in the Senate, a bill, joint resolution, conference report, amendment, amendment between the Houses, or treaty— (i) for which an estimate is required to be prepared pursuant to section 402 of the Congressional Budget Act of 1974 ( 2 U.S.C. 653 ) and that causes a gross budgetary effect (before incorporating macroeconomic effects and not including timing shifts) in a fiscal year in the period of years of the most recently agreed to concurrent resolution on the budget equal to or greater than— (I) 0.25 percent of the current projected gross domestic product of the United States for that fiscal year; or (II) for a treaty, equal to or greater than $15,000,000,000 for that fiscal year; or (ii) designated as such by— (I) the chair of the Committee on the Budget of the Senate for all direct spending legislation; or (II) the Senator who is Chairman or Vice Chairman of the Joint Committee on Taxation for revenue legislation; and (B) in the House of Representatives, a bill or joint resolution, or amendment thereto or conference report thereon— (i) for which an estimate is required to be prepared pursuant to section 402 of the Congressional Budget Act of 1974 ( 2 U.S.C. 653 ) and that causes a gross budgetary effect (before incorporating macroeconomic effects and not including timing shifts) in a fiscal year in the period of years of the most recently agreed to concurrent resolution on the budget equal to or greater than 0.25 percent of the current projected gross domestic product of the United States for that fiscal year; or (ii) designated as such by— (I) the chair of the Committee on the Budget of the House of Representatives for all direct spending legislation