An amendment numbered 2 printed in House Report 112-388 to require the OMB Director to prepare all budgets submitted to the President according to both accrual-basis and cash-basis GAAP accounting standards.

1. Adds TITLE IV--PRESIDENT'S BUDGET SUBMISSION at the end of the bill

   Adds a title

   Inserted: TITLE IV--PRESIDENT'S BUDGET SUBMISSION

   Inserted: SEC. 401. PREPARATION OF THE BUDGET.

   Inserted: (a) The President.--Section 1105(a) of title 31, United States Code, is amended--

   Inserted: (1) by redesignating the second paragraph (37) as paragraph (39); and

   Inserted: (2) by adding at the end the following new paragraph:

   Inserted: "(40) A summary of how the use of accrual accounting procedures would affect the estimated expenditures, appropriations, and receipts of the Government in the fiscal year for which the budget is submitted.".

   Inserted: (b) Office of Management and Budget.--The Director of the Office of Management and Budget shall prepare all of the budgets submitted to the President according to both accrual accounting procedures and the cash basis accounting method.

   Original wording

   At the end of the bill, add the following new title:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed