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 subse-
quently 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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘It’s About Time Act’’. 
SEC. 2. CHANGE OF FISCAL YEAR. 
(a) IN GENERAL.— 
(1) CHANGE OF CALENDAR PERIOD.—Section 
1102 of title 31, United States Code, is amended— 
(A) by striking ‘‘October 1’’ and inserting 
‘‘January 1’’; and 
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(B) by striking ‘‘September 30 of the fol-
lowing year’’ and inserting ‘‘December 31 of 
that year’’. 
(2) EFFECTIVE DATE.—The amendments made 
by paragraph (1) shall be effective on January 1, 
2025. 
(b) TRANSITION TO NEW FISCAL YEAR.— 
(1) TRANSITION PERIOD BUDGET.—As soon as 
practicable, the President shall prepare and submit 
to Congress— 
(A) after consultation with the Committees 
on the Budget and the Committees on Appro-
priations of the House of Representatives and 
the Senate, budget estimates for the Federal 
government for the period commencing October 
1, 2024, and ending on December 31, 2024, in 
such form and detail as the President may de-
termine; and 
(B) proposed legislation the President con-
siders appropriate with respect to changes in 
law necessary to provide authorizations of ap-
propriations for that period. 
(2) AGENCY TRANSITION.—The Director of the 
Office of Management and Budget shall provide by 
regulation, order, or otherwise for the orderly transi-
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tion by all departments, agencies, and instrumental-
ities of the Federal government and the government 
of the District of Columbia from the use of the fiscal 
year in effect on the date of the enactment of this 
Act to the use of the new fiscal year prescribed in 
subsection (a). The Director shall prepare and sub-
mit to Congress such additional proposed legislation 
as the Director considers necessary to accomplish 
this objective. 
(c) CONVERSION OF AUTHORIZATIONS OF APPRO-
PRIATIONS.—Any law providing for an authorization of 
appropriations commencing on October 1 of a year shall, 
if that year is any year after 2024, be considered as mean-
ing January 1 of the following year. Any law providing 
for an authorization of appropriations ending on Sep-
tember 30 of a year shall, if that year is any year after 
2024, be considered as meaning December 31 of that year. 
Any law providing for an authorization of appropriations 
for the fiscal year 2025 or any fiscal year thereafter shall 
be construed as referring to that fiscal year ending on De-
cember 31 of the calendar year having the same calendar 
year number as the fiscal year number. 
(d) TITLE OF APPROPRIATION ACTS.— 
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(1) IN
GENERAL.—Section 105 of title 1, 
United States Code, is amended by striking ‘‘Sep-
tember 30’’ and inserting ‘‘December 31’’. 
(2) EFFECTIVE DATE.—The amendment made 
by paragraph (1) shall be effective for any fiscal 
year commencing on or after January 1, 2025. 
Æ 
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