US Congress House Bill 476 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 3)
Status: Introduced on February 4 2013 - 25% progression, died in committee
Action: 2013-02-04 - Referred to the House Committee on the Budget.
Pending: House Budget Committee
Text: Latest bill text (Introduced) [PDF]

Generally Accepted Accounting Principles Act or GAAP Act - Requires the President's budget submission to include an estimate of the deficit or surplus for the fiscal year concerned, prepared using generally accepted accounting principles. Amends the Congressional Budget Act of 1974 to require the alternative levels of total revenues, total new budget authority, and total outlays (including related surpluses and deficits) covered by the annual Congressional Budget Office (CBO) fiscal policy report to the congressional budget committees on the upcoming fiscal year to be prepared using both cash basis accounting and generally accepted accounting principles.

GAAP Act

Rep. Phil Gingrey [R-GA]

Rep. Michael Conaway [R-TX]

Rep. Steven Palazzo [R-MS]

Date	Chamber	Action
2013-02-04	House	Referred to the House Committee on the Budget.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/476/all-info
Text	https://www.congress.gov/113/bills/hr476/BILLS-113hr476ih.pdf