1. Short title This Act may be cited as the It’s About Time Act . 2. Change of fiscal year (a) In general (1) Change of calendar period Section 1102 of title 31, United States Code, is amended— (A) by striking October 1 and inserting January 1 ; and (B) by striking September 30 of the following year and inserting December 31 of that year . (2) Effective date The amendments made by paragraph (1) shall be effective on January 1, 2020. (b) Transition to new fiscal year (1) Transition period budget As soon as practicable, the President shall prepare and submit to Congress— (A) after consultation with the Committees on the Budget and the Committees on Appropriations of the House of Representatives and the Senate, budget estimates for the Federal Government for the period commencing October 1, 2019, and ending on December 31, 2019, in such form and detail as the President may determine