HR 3955
It’s About Time Act
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- Passed House
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Bill overview
This bill, the ‘It’s About Time Act,’ proposes to change the start and end dates of the U.S. federal fiscal year from October 1 to September 30 to January 1 to December 31, beginning in 2023. The goal is to align the fiscal year with the calendar year, which is intended to simplify budgeting and financial planning for the government and its agencies. The bill also outlines procedures for transitioning budgets and regulations to the new fiscal year and clarifies how existing laws referencing the old fiscal year dates should be interpreted.
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