arrow_back Back to App

US Federal Fiscal Year Change: New Budget Dates

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 2025. Citizens may find that government spending plans and financial reports will now align with the calendar year, potentially making the national budget easier to understand.
Key points
The U.S. government's fiscal year will begin on January 1 and end on December 31, instead of the current dates.
This change will take effect starting January 1, 2025, meaning 2024 will have a short transition period.
All government agencies will need to adjust their plans and systems to the new financial calendar.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5612
Sponsor: Rep. Turner, Michael R. [R-OH-10]
Process start date: 2023-09-20
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 118_HR_5612.

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 2023-09-20.

What are the main provisions?

Key points include:

  • The U.S. government's fiscal year will begin on January 1 and end on December 31, instead of the current dates.
  • This change will take effect starting January 1, 2025, meaning 2024 will have a short transition period.
  • All government agencies will need to adjust their plans and systems to the new financial calendar.
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 2025-12-25.

CATEGORIES

Economy Public Investments