CBA, as Enacted (Contents)

Congressional Budget Act of 1974

Section 502, as Enacted

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Transition to new fiscal year

Sec. 502. (a) As soon as practicable, the President shall prepare and submit to the Congress—

(1) after consultation with the Committees on Appropriations of the House of Representatives and the Senate, budget estimates for the United States Government for the period commencing July 1, 1976, and ending on September 30, 1976, in such form and detail as he may determine; and

(2) proposed legislation he considers appropriate with respect to changes in law necessary to provide authorizations of appropriations for that period.

(b) The Director of the Office of Management and Budget shall provide by regulation, order, or otherwise for the orderly transition by all departments, agencies, and instrumentalities of the United States Government and the government of the District of Columbia from the use of the fiscal year in effect on the date of enactment of this Act to the use of the new fiscal year prescribed by section 237(a) (2) of the Revised Statutes. The Director shall prepare and submit to the Congress such additional proposed legislation as he considers necessary to accomplish this objective.

(c) The Director of the Office of Management and Budget and the Director of the Congressional Budget Office jointly shall conduct a study of the feasibility and advisability of submitting the Budget or portions thereof, and enacting new budget authority or portions thereof, for a fiscal year during the regular session of the Congress which begins in the year preceding the year in which such fiscal year begins. The Director of the Office of Management and Budget and the Director of the Congressional Budget Office each shall submit a report of the results of the study conducted by them, together with his own conclusions and recommendations, to the Congress not later than 2 years after the effective date of this subsection.

 

 

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Counsel Notes
JOINT EXPLANATORY STATEMENT OF CONFERENCE COMMITTEE

The managers on the part of the House and the Senate of the conference of the two Houses on the amendments of the Senate to the bill (H.R. 7130) issued an explanatory statement of the legislation. This was included in a House Budget Committee print in 1975 after the bill’s enactment. It included the following description of this section:

Section 502 (a) and (b). Transition to New Fiscal Year

Both the House and Senate versions contained provisions for the transition to the new fiscal year. Both provided for the issuance of any necessary regulations or orders by the Office of Management and Budget to carry on the transition, and for the submission of proposed legislation deemed necessary for the transition.

The conference substitute provides that after consultation with the Appropriations Committees, the President shall submit budget estimates for the interim three-month period (July 1- September 30, 1976) in such form and detail as he determines. On the basis or guidance provided by the Appropriations Committees, OMB will be in a position to determine the form and detail most suitable for this period. This determination shall take into account the needs of Congress and the public for sufficient information, the durability of maintaining continuity in accounts, and the amount or time available for preparation of the three-month estimates.

The conference substitute provides that the President shall propose authorizing legislation for the three-month transition period and that OMB shall submit legislative proposals to implement the transition to the October 1 – September 30 fiscal year. In addition, OMB shall issue such orders and regulations as are necessary for the orderly transition of Government agencies to the new fiscal year.

Section 502(c). Advance Appropriations

The Senate amendment called for joint OMB- Congressional Office of the Budget study of advance appropriations.

The conference substitute incorporates this provision in revised form. OMB and the Congressional Budget Office shall jointly study but separately report on the feasibility and desirability of budgeting and appropriating one year in advance for all or portions of the budget.

[Joint Explanatory Statement on the Committee of Conference on H.R. 7130; (Committee Print), Committee on the Budget, House of Representatives, 93d Congress, 2d Session, Washington D.C. 1975.]

CURRENT SECTION

Section 502. Definitions. (Enacted section replaced by FCRA 1990).

Classification to the U.S. Code

This section was formerly classified to 31 U.S.C. 1020.

Reports Required Under Section 502

Section 502(c) of the Congressional Budget Act mandated two reports on advance budgeting, published as Congressional Budget Office, “Advance Budgeting: A Report to the Congress” (March 1977); and Office of Management and Budget, “A Study of the Advisability of Submitting the President’s Budget and Enacting Budget Authority in Advance of the Current Timetable” (1977). The CBO report cautiously supported reauthorization of grant programs a year before the expiration of the existing authorization. The report also outlined a process for considering which programs could be appropriated on a two-year schedule. The OMB report concluded that advance funding would cause too great a loss of flexibility in the budget year, and proposed the alternative of including in the budget “target amounts” of planned grant appropriations for two out-years.

[Text derived from CBO Report on Biennial Budgeting, Congressional Budget Office (February 1988), p. 45.]


Legislative History Notes
Public Laws

Pub. L. 93–344, §502, July 12, 1974, 88 Stat. 321. The Congressional Budget and Impoundment Control Act of 1974 enacted this section into law. 

Revision of title 31 of the u.s. code

Most of the Congressional Budget Act of 1974 was classified to Title 31 of the U.S. Code but has since been transferred either to title 2 (The Congress) or to a revised Title 31. See the following for more information: 

 

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[BCR § 152e]