arrow_back Back to App

US Fiscal Year Change: New Dates for Government Finances

This act changes the start and end dates of the U.S. federal government's fiscal year. Instead of beginning on October 1 and ending on September 30, the fiscal year will run from January 1 to December 31, starting in 2023. Citizens may notice that government spending plans and financial reports will now align with the calendar year.
Key points
The U.S. government's fiscal year will start on January 1 and end on December 31, instead of the current dates.
This change will take effect on January 1, 2023, meaning the first new fiscal year will be 2023.
A short transition period from October to December 2022 will be implemented to smoothly shift to the new system.
All government departments, agencies, and the District of Columbia will need to adjust their finances to the new dates.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_3955
Sponsor: Rep. Turner, Michael R. [R-OH-10]
Process start date: 2021-06-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

It’s About Time Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3955.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-06-16.

What are the main provisions?

Key points include:

  • The U.S. government's fiscal year will start on January 1 and end on December 31, instead of the current dates.
  • This change will take effect on January 1, 2023, meaning the first new fiscal year will be 2023.
  • A short transition period from October to December 2022 will be implemented to smoothly shift to the new system.
  • All government departments, agencies, and the District of Columbia will need to adjust their finances to the new dates.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Turner, Michael R. [R-OH-10].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Public Investments