Applicability

The prohibition under section 3— (1) includes debt restructuring or any other related activity; and (2) does not include— (A) any discretionary appropriations or direct spending, as those terms are defined in section 250(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c)); and (B) any grant awarded by the United States to the State government, municipal government, local government, county government, or school district.