Entitlement Control Act of 1994

Entitlement Control Act of 1994 - Directs the Director of the Office of Management and Budget (OMB) to report to the Congress on the direct spending targets for each of FY 1995 through 2000. Requires inclusion in such targets of all mandatory Federal spending except deposit insurance and net interest. (Sec. 4) Requires the OMB Director to establish direct spending limits (caps) for FY 1995 through 2000, allowing for growth each year to reflect the consumer price index, the number of beneficiaries, and an additional growth allowance of one percent per year through 1998. Requires further cap adjustments to reflect increased direct spending resulting from any health reform legislation. Requires the President's budget to reflect the same adjustments as OMB's. (Sec. 5) Requires the President's budget to include a proposal to offset any OMB-projected excess of the caps for each year. Authorizes the President to propose, with justification in writing, increases in cap levels to allow for all or part of such excess. (Sec. 6) Requires the Congress to: (1) pass a budget resolution including reconciliation instructions to offset any OMB-projected excess in entitlement spending for each fiscal year; or (2) increase the caps. Prescribes procedures for congressional consideration of such a budget resolution. (Sec. 7) Provides for expedited spin-off legislation, following passage of a budget resolution conference report, to allocate spending among the budget functions under the overall entitlement cap for a fiscal year, establishing individual caps for each budget function based on the budget resolution. Makes such caps binding in law when the President signs such spin-off legislation. (Sec. 8) Mandates separate sequestrations for any would-be excess direct spending in each budget function covered by enactment of a spin-off law. (Sec. 9) Mandates a comprehensive sequestration with across-the-board cuts in all entitlement programs to keep direct spending within the aggregate budget cap in any year when spin-off legislation is not enacted. (Sec. 10) Specifies programs and activities exempted from sequestration. (Sec. 11) Sets forth general and special sequestration rules. (Sec. 12) Sets forth deadlines for estimating assumptions, sequestration reports, and orders. (Sec. 13) Prescribes rules for determining the current policy baseline for sequestration reports. (Sec. 14) Declares that reductions in entitlement spending made to comply with budget caps shall not be entered on the paygo scorecard under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), except in certain circumstances. (Sec. 15) Provides for expedited judicial review of the constitutionality of this Act. (Sec. 16) Provides that certain House of Representatives rules changes enacted as part of the entitlement review process shall not be effective for FY 1995 and thereafter.