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Federal Fiscal Year Change: New Calendar for Government Finances

This act changes the start and end dates of the federal fiscal year, shifting them from October-September to January-December. This means public spending planning and budget authorizations will align with the calendar year, potentially making it easier for citizens to track and understand how their tax money is spent.
Key points
The federal fiscal year will begin on January 1 and end on December 31, instead of the current October 1 to September 30 period.
The change will take effect on January 1, 2027, making 2026 a transitional year with a shorter budget period.
All government departments and agencies, including the District of Columbia government, will need to adjust their systems to the new fiscal calendar.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_5613
Sponsor: Rep. Turner, Michael R. [R-OH-10]
Process start date: 2025-09-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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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 119_HR_5613.

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 2025-09-26.

What are the main provisions?

Key points include:

  • The federal fiscal year will begin on January 1 and end on December 31, instead of the current October 1 to September 30 period.
  • The change will take effect on January 1, 2027, making 2026 a transitional year with a shorter budget period.
  • All government departments and agencies, including the District of Columbia government, will need to adjust their systems to the new fiscal calendar.
What is the specific legal status?

The current status is Introduced.

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 2025-12-23.

CATEGORIES

Economy Public Investments