H.R. 5613 — It’s About Time Act

This section changes the federal fiscal year from the period beginning October 1 and ending September 30 of the following year to the period beginning January 1 and ending December 31 of the same year, effective January 1, 2027, by amending 31 U.S.C. 1102. It directs the President, after consulting congressional budget and appropriations committees, to submit as soon as practicable a transition budget for October 1 through December 31, 2026, and any necessary proposed legislation; requires the Director of the Office of Management and Budget to regulate agency transitions (including for the District of Columbia) and submit additional proposed legislation. It deems existing laws providing authorizations of appropriations, for years after 2026, to commence on January 1 of the following year (instead of October 1 of that year), end on December 31 of that year (instead of September 30), and—beginning with fiscal year 2027—refer to the period ending December 31 of the calendar year with the same year number as the fiscal year. It amends 1 U.S.C. 105 to change the required style and title of appropriation acts from "for the year ending September 30" to "for the year ending December 31," effective for fiscal years commencing on or after January 1, 2027.