3.0.0 119 2023-01-11T13:29:16Z 2023-01-11T13:29:16Z House HR 2015-01-06 114 [Congressional Record Volume 161, Number 1 (Tuesday, January 6, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARRETT:H.R. 119.Congress has the power to enact this legislation pursuantto the following:Article I, Section 9, Clause 7.[Page H47]]]> hsgo00 Oversight and Accountability Committee House Standing Referred to 2015-01-06T17:05:25Z hsbu00 Budget Committee House Standing Referred to 2015-01-06T17:05:20Z Budget and Accounting Transparency Act of 2015 114 399 S 2015-02-05 Read twice and referred to the Committee on the Budget. Related bill CRS 2015-01-06 Referred to the Committee on the Budget, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2015-01-06 Referred to the Committee on the Budget, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2015-01-06 Referred to the Committee on the Budget, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsbu00 Budget Committee 2015-01-06 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-01-06 Introduced in House IntroReferral 1000 9 Library of Congress G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 N S000051 Rep. Sanford, Mark [R-SC-1] Mark Sanford R SC 1 2015-04-23 False Economics and Public Finance Accounting and auditing Appropriations Budget deficits and national debt Budget process Congressional oversight Executive agency funding and structure Government corporations and government-sponsored enterprises Government information and archives Government lending and loan guarantees Government studies and investigations Housing finance and home ownership Economics and Public Finance 00 2015-01-06 Introduced in House 2015-04-06T18:34:24Z Budget and Accounting Transparency Act of 2015

This bill amends the Congressional Budget Act of 1974 to revise the budgetary treatment of federal loans and loan guarantees to account for them on a fair value basis. Under a fair value approach, costs are measured using market rates rather than the lower Treasury interest rates currently used.

Estimates for loan guarantees and direct loans in the President's budget are required to include a risk component that reflects the impact of using a fair value estimate to account for market risk. A risk component must also be included in estimates used for requirements under current law that appropriations be provided in advance for the costs of new direct loans, loan guarantees, or modifications that increase costs.

The bill amends the Balanced Budget and Emergency Deficit Control Act of 1985 to permit adjustments to discretionary spending limits for this Act.

The bill also changes the budgetary treatment of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Agency budget justification materials are required to be posted on the public website of the agency on the same day the materials are submitted to Congress.

]]> Budget and Accounting Transparency Act of 2015 Display Title Budget and Accounting Transparency Act of 2015 Official Title as Introduced To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to increase transparency in Federal budgeting, and for other purposes. Introduced in House IH Short Titles as Introduced Budget and Accounting Transparency Act of 2015 Introduced in House 2015-01-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr119ih/xml/BILLS-114hr119ih.xml 2015-01-06 Referred to the Committee on the Budget, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.