I 

118TH CONGRESS 

1ST SESSION H. R. 5612 

To change the calendar period of the Federal fiscal year. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 20, 2023 

Mr. TURNER (for himself and Mr. NADLER) introduced the following bill; 

which was referred to the Committee on the Budget, and in addition to 

the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such 

provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To change the calendar period of the Federal fiscal year. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘It’s About Time Act’’. 

5 SEC. 2. CHANGE OF FISCAL YEAR. 

6 (a) IN GENERAL.— 

7 (1) CHANGE OF CALENDAR PERIOD.—Section 

8 1102 of title 31, United States Code, is amended— 

9 (A) by striking ‘‘October 1’’ and inserting 

10 ‘‘January 1’’; and 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
2 

•HR 5612 IH

1 (B) by striking ‘‘September 30 of the fol2 lowing year’’ and inserting ‘‘December 31 of 

3 that year’’. 

4 (2) EFFECTIVE DATE.—The amendments made 

5 by paragraph (1) shall be effective on January 1, 

6 2025. 

7 (b) TRANSITION TO NEW FISCAL YEAR.— 

8 (1) TRANSITION PERIOD BUDGET.—As soon as 

9 practicable, the President shall prepare and submit 

10 to Congress— 

11 (A) after consultation with the Committees 

12 on the Budget and the Committees on Appro13 priations of the House of Representatives and 

14 the Senate, budget estimates for the Federal 

15 government for the period commencing October 

16 1, 2024, and ending on December 31, 2024, in 

17 such form and detail as the President may de18 termine; and 

19 (B) proposed legislation the President con20 siders appropriate with respect to changes in 

21 law necessary to provide authorizations of ap22 propriations for that period. 

23 (2) AGENCY TRANSITION.—The Director of the 

24 Office of Management and Budget shall provide by 

25 regulation, order, or otherwise for the orderly transiVerDate Sep 11 2014 03:00 Sep 23, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H5612.IH H5612

kjohnson on DSK7ZCZBW3PROD with $$_JOB
3 

•HR 5612 IH

1 tion by all departments, agencies, and instrumental2 ities of the Federal government and the government 

3 of the District of Columbia from the use of the fiscal 

4 year in effect on the date of the enactment of this 

5 Act to the use of the new fiscal year prescribed in 

6 subsection (a). The Director shall prepare and sub7 mit to Congress such additional proposed legislation 

8 as the Director considers necessary to accomplish 

9 this objective. 

10 (c) CONVERSION OF AUTHORIZATIONS OF APPRO11 PRIATIONS.—Any law providing for an authorization of 

12 appropriations commencing on October 1 of a year shall, 

13 if that year is any year after 2024, be considered as mean14 ing January 1 of the following year. Any law providing 

15 for an authorization of appropriations ending on Sep16 tember 30 of a year shall, if that year is any year after 

17 2024, be considered as meaning December 31 of that year. 

18 Any law providing for an authorization of appropriations 

19 for the fiscal year 2025 or any fiscal year thereafter shall 

20 be construed as referring to that fiscal year ending on De21 cember 31 of the calendar year having the same calendar 

22 year number as the fiscal year number. 

23 (d) TITLE OF APPROPRIATION ACTS.— 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
4 

•HR 5612 IH

1 (1) IN GENERAL.—Section 105 of title 1, 

2 United States Code, is amended by striking ‘‘Sep3 tember 30’’ and inserting ‘‘December 31’’. 

4 (2) EFFECTIVE DATE.—The amendment made 

5 by paragraph (1) shall be effective for any fiscal 

6 year commencing on or after January 1, 2025. 

Æ 


kjohnson on DSK7ZCZBW3PROD with $$_JOB