1. Short title This Act may be cited as the Budgeting for Disasters Act . 2. Termination of exemptions from the annual budget caps Subparagraphs (D) and (F) of section 251(b)(2) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 901(b)(2) ) shall not apply with respect to fiscal year 2020, or any fiscal year thereafter. 3. Emergency spending point of order (a) In general Section 314(e)(2) of the Congressional Budget Act of 1974 ( 2 U.S.C. 645(e)(2) ) is amended by striking three-fifths each place it appears and inserting two-thirds . (b) Effective date The amendments made by subsection (a) shall— (1) take effect on the date of enactment of this Act; and (2) apply with respect to fiscal year 2020, and each fiscal year thereafter. 4. GAO review of emergency spending (a) In general Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report that— (1) reviews amounts appropriated for each of fiscal years 2009 through 2018 that were— (A) designated as being for an emergency requirement; (B) designated as being for disaster relief; or (C) made available to provide assistance under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq.); (2) identifies and reviews amounts appropriated for any of fiscal years 2009 through 2018 that were designated as being for an emergency requirement and designated as being for disaster relief; and (3) provides recommendations to— (A) clarify the definition of emergency requirements for purposes of appropriated amounts being designated as being for an emergency requirement; (B) implement an appropriate time limit for recipients to spend appropriated amounts that are designated as being for an emergency requirement; (C) improve cost-sharing relating to major disasters and emergencies among Federal, State, and local governments