Bill > S554

This bill, titled the Biennial Budgeting and Appropriations Act, aims to shift the federal government's budget and appropriations processes from an annual cycle to a two-year cycle, known as a biennium, which begins on October 1 of odd-numbered years. It revises the timetable for the congressional budget process, moving key deadlines to accommodate this biennial approach, such as the President submitting budget recommendations on the first Monday in April in certain years and Congress completing action on the biennial budget resolution by June 1. The bill also amends the Congressional Budget and Impoundment Control Act of 1974 and Title 31 of the U.S. Code to reflect this change, redefining terms like "fiscal year" to "biennium" and adjusting various procedural requirements for budget resolutions, appropriations bills, and other financial planning documents to align with the two-year timeframe. Additionally, it introduces provisions for multiyear authorizations, requiring that appropriations be authorized for at least two fiscal years unless specific exceptions apply, and mandates that government plans and performance budgets be developed on a biennial basis. The bill also includes a requirement for the Director of the Office of Management and Budget to study and report on the impact and feasibility of this transition.