An antideficiency statute serves as a legal measure to ensure that the government does not exceed its budgetary limits and prevents overspending. Additionally, it safeguards against creditors demanding more funds than initially agreed upon. This legislation plays a crucial role in maintaining fiscal responsibility within the government.
An antideficiency statute, also known as an antideficiency law, is a legislation that restricts the government’s ability to exceed the allocated budget. It serves as a safeguard against overspending by government agencies. For instance, if a project has a budget of $100,000 but ends up costing $120,000, an antideficiency statute would prohibit the agency from spending the additional $20,000 without proper authorization. Another example is when an antideficiency statute limits secured creditors from recovering more than the value of the property they have a security interest in. These statutes play a crucial role in ensuring responsible and efficient use of taxpayer money by preventing government agencies from going beyond their allocated budgets.
The Antideficiency Statute is a federal law that prohibits government agencies from spending more money than has been appropriated by Congress.
The purpose of the Antideficiency Statute is to prevent government agencies from overspending and to ensure that they operate within their budgetary limits.
All federal agencies and departments are subject to the Antideficiency Statute.
If a federal agency violates the Antideficiency Statute, it can face legal and financial consequences, including fines and disciplinary action.
There are some limited exceptions to the Antideficiency Statute, such as in cases of national security or emergencies.
The penalty for violating the Antideficiency Statute can include fines, disciplinary action, and even criminal charges in some cases.
Government contractors are also subject to the Antideficiency Statute and can face penalties if they exceed their contract limits or spend more than has been appropriated.
The Antideficiency Statute can only be waived by Congress in certain circumstances, such as during a national emergency.
The Antideficiency Statute is often cited during government shutdowns as a reason why certain government functions cannot continue without funding.
You can learn more about the Antideficiency Statute by consulting with a legal expert or by researching federal laws and regulations related to government spending.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/antideficiency-statute/
- Modern Language Association (MLA):Antideficiency Statute. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/antideficiency-statute/.
- Chicago Manual of Style (CMS):Antideficiency Statute. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/antideficiency-statute/ (accessed: May 09 2024).
- American Psychological Association (APA):Antideficiency Statute. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/antideficiency-statute/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts