To establish the Accountable Budgeting Commission.

Summary: Accountable Budgeting Commission Act of 2006 - Establishes the Accountable Budgeting Commission to review, evaluate, and make recommendations respecting the budget concepts that underlie the federal budget and its process.

Prohibits the Commission from making findings, conclusions, or recommendations with respect to Social Security, Medicare, or government-sponsored enterprises (GSEs).

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accountable Budgeting Commission Act 
of 2006''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds that--
            (1) President Lyndon Johnson created the Commission on 
        Budget Concepts in 1967 by executive order to assess the basic 
        budget concepts that underlie the Federal budget process;
            (2) the Commission's report provided a common framework for 
        the development, presentation, and execution of the Federal 
        budget for the ensuing decades;
            (3) since the release of that report, the Government has 
        experienced major changes in the scope of its financial 
        commitments, the nature of its various budget transactions, the 
        role of Congress in budget decisions, and the imposition of 
        special controls over spending and revenue; and
            (4) in view of these changes, a new Accountable Budgeting 
        Commission should be created to assess the present state of 
        budget concepts and forge a bipartisan consensus for necessary 
        changes.
    (b) Purpose.--The purpose of this Act is to establish the 
Accountable Budgeting Commission to review, evaluate, and make 
recommendations respecting the budget concepts that underlie the 
Federal budget and the Federal budget process.

SEC. 3. ESTABLISHMENT OF ACCOUNTABLE BUDGETING COMMISSION.

    There is established a commission to be known as the Accountable 
Budgeting Commission (hereinafter referred to as the ``Commission'').

SEC. 4. POWERS AND DUTIES OF COMMISSION.

    (a) Duties of the Commission.--
            (1) The duties of the Commission shall include--
                    (A) an identification of activities, entities, and 
                transactions to be included in the Federal budget and 
                the criteria for making such determinations;
                    (B) an assessment of the appropriate measures of 
                Federal financial commitments to allocate resources and 
                establish fiscal policy;
                    (C) an evaluation of the differences between user 
                fees and revenue, and between various forms of user 
                fees, and the circumstances when such fees should be 
                accounted for as offsetting spending or adding to 
                revenue;
                    (D) an appraisal of the appropriate usage of cash 
                and accrual-based measures for various types of Federal 
                financial commitments, such as Government insurance, 
                loan guarantees, and leasing;
                    (E) recommendations of the appropriate means for 
                recognizing the cost of acquisition and disposition of 
                various types of nonfinancial assets;
                    (F) an evaluation of appropriate measures of 
                Federal debt, borrowing, and means of financing;
                    (G) an assessment of the adequacy of the current 
                account and fund structure for recording revenue and 
                expenditures for specific classes of governmental 
                activities;
                    (H) recommendations for changes in Federal budget 
                practices to accommodate the Federal Accounting 
                Standards Advisory Board's recommended accounting 
                standards;
                    (I) recommendations for changes in budget practices 
                to reflect the Government's multi-year acquisitions;
                    (J) the appropriate means of accounting for the 
                financial risk the Government incurs from contractual 
                and implied commitments; and
                    (K) an evaluation of the usage of dynamic scoring 
                analysis.
            (2) Exceptions.--Notwithstanding paragraph (1), the 
        Commission shall make no findings, conclusions, or 
        recommendations respecting the following:
                    (A) Social security and medicare.
                    (B) Government-sponsored enterprises.
    (b) Powers of the Commission.--
            (1) Conduct of business.--The Commission may hold hearings, 
        take testimony, receive evidence, and undertake such other 
        activities necessary to carry out its duties.
            (2) Access to information.--The Commission may secure 
        directly from any department or agency of the United States 
        information necessary to carry out its duties. Upon request of 
        the Chair of the Commission, the head of that department or 
        agency shall furnish that information to the Commission.
            (3) Postal service.--The Commission may use the United 
        States mails in the same manner and under the same conditions 
        as other departments and agencies of the United States.

SEC. 5. MEMBERSHIP.

    (a) Membership.--The Commission shall be composed of 12 voting 
members and 4 nonvoting members, as follows:
            (1) Two members appointed by the chairman of the Committee 
        on the Budget of the Senate.
            (2) Two members appointed by the chairman of the Committee 
        on the Budget of the House of Representatives.
            (3) Two members appointed by the ranking member of the 
        Committee on the Budget of the Senate.
            (4) Two members appointed by the ranking member of the 
        Committee on the Budget of the House of Representatives.
            (5) One member appointed by the Speaker of the House of 
        Representatives.
            (6) One member appointed by the President of the Senate.
            (7) One member appointed by the minority leader of the 
        House of Representatives.
            (8) One member appointed by the minority leader of the 
        Senate.
            (9) The Director of the Office of Management and Budget (or 
        his designee), who shall be a nonvoting member.
            (10) The Secretary of the Treasury (or his designee), who 
        shall be a nonvoting member.
            (11) The Comptroller General of the United States (or his 
        designee), who shall be a nonvoting member.
            (12) The Director of the Congressional Budget Office (or 
        his designee), who shall be a nonvoting member.
    (b) Qualifications and Term.--
            (1) Qualifications.--Members appointed to the Commission 
        pursuant to subsection (a) shall--
                    (A) have expertise and experience in the fields or 
                disciplines related to the subject areas to be 
                considered by the Commission; and
                    (B) not be Members of Congress, or officers or 
                employees of the Government (other than those nonvoting 
                members described in paragraphs (9) through (12) of 
                subsection (a)).
            (2) Term of appointment.--The term of an appointment to the 
        Commission shall be for the life of the Commission.
            (3) Chair and vice chair.--A Chair and Vice Chair shall be 
        elected from among the voting members of the Commission. The 
        Vice Chair shall assume the duties of the Chair in the Chair's 
        absence.
    (c) Meetings; Quorum; and Vacancies.--
            (1) Meetings.--The Commission shall meet at least once a 
        month on a day to be decided by the Commission. The Commission 
        may meet at such other times at the call of the Chair or of a 
        majority of its voting members. The meetings of the Commission 
        shall be open to the public, unless by public vote, the 
        Commission shall determine to close a meeting or any portion of 
        a meeting to the public.
            (2) Quorum.--A majority of the voting membership shall 
        constitute a quorum of the Commission, except that 3 or more 
        voting members may conduct hearings.
            (3) Vacancies.--A vacancy on the Commission shall be filled 
        in the same manner in which the original appointment was filled 
        under subsection (a).
    (d) Compensation and Expenses.--Members of the Commission shall 
serve without pay for their service on the Commission, but may receive 
travel expenses, including per diem in lieu of subsistence, at rates 
authorized for employees of agencies under subchapter I of chapter 57 
of title 5, United States Code.

SEC. 6. STAFF AND SUPPORT SERVICES.

    (a) Staff.--With the advance approval of the Commission, the 
executive director may appoint such personnel as is appropriate. The 
staff of the Commission shall be appointed without regard to political 
affiliation and without regard to the provisions of title 5, United 
States Code, governing appointments in the competitive service, and may 
be paid without regard to the provisions of chapter 51 and subchapter 
III of chapter 53 of such title relating to classifications and General 
Schedule pay rates.
    (b) Executive Director.--The Chairman shall appoint an executive 
director, who shall be paid the rate of basic pay for level II of the 
Executive Schedule.
    (c) Experts and Consultants.--With the advance approval of the 
Commission, the executive director may procure temporary and 
intermittent services under section 3109(b) of title 5, United States 
Code.
    (d) Technical and Administrative Assistance.--Upon the request of 
the Commission--
            (1) the head of any agency, office, or establishment within 
        the executive or legislative branches of the United States 
        shall provide, without reimbursement, such technical assistance 
        as the Commission determines is necessary to carry out its 
        duties; and
            (2) the Administrator of the General Services 
        Administration shall provide, on a reimbursable basis, such 
        administrative support services as the Commission may require.
    (e) Detail of Federal Personnel.--Upon the request of the 
Commission, the head of an agency, office, or establishment in the 
executive or legislative branch of the United States is authorized to 
detail, without reimbursement, any of the personnel of that agency, 
office, or establishment to the Commission to assist the Commission in 
carrying out its duties. Any such detail shall not interrupt or 
otherwise affect the employment status or privileges of that employee.
    (f) CBO and OMB.--The Directors of the Congressional Budget Office 
and the Office of Management and Budget shall provide the Commission 
with their latest research on the accuracy of its past budget and 
economic projections. The Commission shall work with the Directors of 
the Congressional Budget Office and the Office of Management and Budget 
in their efforts to explain the factors affecting the accuracy of 
budget projections.

SEC. 7. REPORT.

    Not later than one year after the date of enactment of this Act, 
the Commission shall transmit a report to the President and to each 
House of Congress. The report shall contain a detailed statement of the 
findings and conclusions of the Commission, together with its 
recommendations for such legislative or administrative actions as it 
considers appropriate. No finding, conclusion, or recommendation may be 
made by the Commission unless approved by a majority of those voting 
and at least two members serving under paragraph (1) or (4) of such 
section, a quorum being present. At the request of any Commission 
member, the report shall include that member's dissenting findings, 
conclusions, or recommendations.

SEC. 8. TERMINATION.

    The Commission shall terminate 30 days after the date of 
transmission of the report required in section 7.

SEC. 9. FUNDING.

    There are authorized to be appropriated not more than $1,500,000 to 
carry out this Act. Sums so appropriated shall remain available until 
expended.