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H.R. 119 114th Congress House

Budget and Accounting Transparency Act of 2015

Official title: To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to increase transparency in Federal budgeting, and for other purposes.

Introduced: January 6, 2015 See on congress.gov
Economics and Public Finance Accounting and auditingAppropriationsBudget deficits and national debtBudget process
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Congressional oversightExecutive agency funding and structureGovernment corporations and government-sponsored enterprisesGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigationsHousing finance and home ownership
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 6, 2015
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.
Jan 6, 2015
Introduced in House
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 Latest action January 6, 2015

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.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • S 399 Budget and Accounting Transparency Act of 2015
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 119: Budget and Accounting Transparency Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-119/
MLA
"H.R. 119: Budget and Accounting Transparency Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-119/.
Bluebook (legal)
H.R. 119, 114th Cong. (2026), https://openamerica.io/bill/114-HR-119/.
Markdown link
[H.R. 119: Budget and Accounting Transparency Act of 2015](https://openamerica.io/bill/114-HR-119/)
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