H.R. 3581 increases the transparency of federal budgeting by bringing off-budget entities on-budget, reforms the accounting methodology used for federal credit programs to reflect best practices from the private sector (fair value accounting), and requires agencies to promptly make public the budget justification materials they submit to Congress in support of their requests for public funds.
Rules Resource for H.R. 3581 – Budget & Accounting Transparency Act
Summary
Type of Rule
Structured rule (making only particular amendments in order) for consideration of H.R. 3581. Reported by a vote of 6 yeas to 3 nays.
Amendments
| 3581 |
Republican
|
Democratic
|
Bipartisan
|
|
Submitted
|
0
|
3
|
2
|
|
Withdrawn
|
0 |
0
|
1 |
|
Made in Order
|
0 |
2
|
1
|
Other Elements of the Rule
- Debate Time: Provides one hour of general debate equally divided and controlled by the chair and ranking minority members of the Committee on the Budget.
- Provides 10 minutes of debate for each of the 3 amendments made in order.
- Provides one motion to recommit with or without instructions.
- Floor Managers: Woodall/McGovern
Floor Action Expected
The rule and the bill are expected to be debated on the floor on: February 7, 2012.