NEW YORK (CNN/Money) - It's back to the salt mines for federal lawmakers.

This year marks just the 15th time since the Depression that Congress has hauled itself back to work after an election and before a new group of lawmakers takes over the following year. While not required by law to get back to the business of lawmaking, these so-called "lame duck" sessions occur when there's unfinished or urgent business.

Make no mistake, lawmakers don't like these interregnums because they tend to be rancorous, unproductive and unpredictable.

But sometimes they're unavoidable. And while "lame duck" sessions don't last long -- political observers say this coming session could be done by Saturday -- they're worth paying attention to because, amid all the last-minute politicking, once-dormant bills can get yanked off the shelf and voted into law.

This time around Congress needs to take care of some important items, namely spending bills -- or lack thereof.

The federal government has been running on interim spending bills since the new fiscal year began Oct. 1. When Congress broke for an election-year holiday in October, only four of 13 spending bills had been signed into law.

So enacting an appropriations bill is at the top of the agenda. Next up is the federal debt ceiling, which Congress must raise by next Monday so the federal government doesn't default on its debts -- something that's never happened in the history of the republic.

Beyond approving spending levels and raising statutory debt limits, there are a host of bills pending and political or judicial nominations that Congress could tackle in the coming days.

More on Law & the Economy • A lesson on the weak dollar • Business wins with Bush • Finding the asbestos solution • Using taxes to boost savings • Pension watchdog in trouble?

"Anything could happen," in the next few days, said Fred McClure, a former Reagan and Bush I administration official who is now a lawyer practicing in Washington, D.C.

As far as big business goes, however, most political pundits expect the major items on President Bush's wish list won't be tackled until next year when the new Congress -- the 109th -- convenes.

The president's agenda includes sweeping reform of the federal tax code, Social Security and limits on civil lawsuits.

While experts say the odds are long, there are a handful of stalled business bills that could get tacked onto spending legislation that Congress hopes to enact this week.

Those that aren't passed now die -- to be reincarnated in the next Congress, or not at all.

• Indecency fines: pending legislation would, among other things, levy stiff penalties against broadcasters and on-air performers for television and radio programming deemed offensive or obscene.

Per-violation fines would be raised from $27,500 to $500,000, for a maximum of $3 million a day. Current law does not provide for fines against individual performers.

• Class-action overhaul: this law would make it easier to transfer class-action lawsuits from state to federal courts. Many of the high-profile, multimillion jury awards that big business complains about occur in state court.
• The Intellectual Property Protection Act: Eight separate bills were rolled into one giant proposal that was passed in the House.

The omnibus bill would authorize federal prosecutors to pursue civil -- not just criminal -- penalties against copyright violators. It would also lower the standard of proof for showing a copyright violation, among other changes.

• Highway and mass transit funding: This six-year, $300 billion spending bill would replace a six-year plan that expired a year ago.

YOUR E-MAIL ALERTS Congress Washington Government Budgets or Create your own Manage alerts | What is this?

One school of thought holds that fiscal conservatives will block the bill. But others say now is the last chance to pass the proposal before the next Congress tackles the ballooning federal budget deficit.