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S. 150 (114th): Biennial Budgeting and Appropriations Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 13, 2015.

Biennial Budgeting and Appropriations Act

Amends the Congressional Budget Act of 1974 to require biennial (currently, annual) budget resolutions, biennial appropriations Acts, and biennial government strategic and performance plans.

States that budget biennium is the two consecutive fiscal years beginning on October 1 of any odd-numbered year.

Requires the Office of Management and Budget to report to Congress on the impact and feasibility of changing the definition of a fiscal year and the budget process based on that definition to a two-year fiscal period.