3.0.0 399 2023-01-11T13:28:23Z 2023-01-11T13:28:23Z Senate S 2015-02-05 114 ssbu00 Budget Committee Senate Standing Referred to 2015-02-05T20:21:52Z Budget and Accounting Transparency Act of 2015 114 119 HR 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. Related bill CRS 2015-02-05 ssbu00 Budget Committee Senate Read twice and referred to the Committee on the Budget. IntroReferral 2015-02-05 Introduced in Senate IntroReferral 10000 9 Library of Congress F000463 Sen. Fischer, Deb [R-NE] Deb Fischer R NE N C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2015-02-25 False Commerce 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 Commerce 00 2015-02-05 Introduced in Senate 2015-06-30T22:50:30Z 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. The President's budget is also required to include agency-by-agency estimates without the risk component. A risk component must 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 A bill to amend the Balanced Budget and Emergency Deficit Control Act of 1985 to increase transparency in Federal budgeting, and for other purposes. Introduced in Senate IS Short Titles as Introduced Budget and Accounting Transparency Act of 2015 Introduced in Senate 2015-02-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s399is/xml/BILLS-114s399is.xml 2015-02-05 Read twice and referred to the Committee on the Budget. 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.