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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 Feb 6, 2017.
Biennial Budgeting and Appropriations Act
This bill amends the Congressional Budget Act of 1974 to require biennial budget resolutions, appropriations bills, and government strategic and performance plans, instead of the annual budget process required under current law.
The bill specifies that budget biennium is the two consecutive fiscal years beginning on October 1 of any odd-numbered year. The Office of Management and Budget must 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.