; and (4) the term previous year's nonemergency discretionary spending means the amount of the discretionary spending limit for all categories for the most recent previous fiscal year for which there was a discretionary spending limit, excluding any adjustment for the fiscal year for amounts designated as being for an emergency requirement under section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 901(b)(2)(A)(i) ), as in effect on the day before the date of enactment of this Act. (b) Sense of the Senate It is the sense of the Senate that saving for a rainy day should be accompanied by offsets in other programs so that the Federal Government does not live beyond its means. (c) Federal Rainy Day Fund (1) Establishment There is established in the Treasury an account to be known as the Federal Rainy Day Fund . (2) Funding For fiscal year 2024 and each fiscal year thereafter, there is authorized to be appropriated to the Fund an amount equal to 2 percent of the amount of previous year's nonemergency discretionary spending. (3) Availability Amounts in the Fund shall remain available until expended, in accordance with subsection (d). (d) Use of Federal Rainy Day Fund (1) Prohibition on using Federal Rainy Day Fund for nonemergencies (A) Point of order against use for nonemergencies (i) In general In the Senate, it shall not be in order to consider a provision in a bill, joint resolution, motion, amendment, amendment between the Houses, or conference report that appropriates funds from the Federal Rainy Day Fund for any program, project, or activity that is not an emergency. (ii) Point of order sustained If a point of order is made by a Senator against a provision described in clause (i), and the point of order is sustained by the Chair, that provision shall be stricken from the measure and may not be offered as an amendment from the floor. (B) Form of the point of order A point of order under subparagraph (A)(i) may be raised by a Senator as provided in section 313(e) of