SIMPLIFICATION OF MANAGEMENT REPORTING PROCESS.

SEC. 404. SIMPLIFICATION OF MANAGEMENT REPORTING PROCESS. (a) In General.— To improve the efficiency of executive branch performance in implementing statutory requirements for financial management reporting to the Congress and its committees, the Director of the Office of Management and Budget may adjust the frequency and due dates of or consolidate any statutorily required reports of agencies to the Office of Management and Budget or the President and of agencies or the Office of Management and Budget to the Congress under any laws for which the Office of Management and Budget has financial management responsibility, including— (1) chapters 5, 9, 11, 33, 35, 37, 39, 75, and 91 of title 31, United States Code; (2) the Federal Civil Penalties Inflation Adjustment Act of 1990 (28 U.S.C. 2461 note; Public Law 101–410; 104 Stat. 890). (b) Application.— The authority provided in subsection (a) shall apply only to reports of agencies to the Office of Management and Budget or the President and of agencies or the Office of Management and Budget to the Congress required by statute to be submitted between January 1, 1995, and September 30, 1997. 108 STAT. 3415 (c) Adjustments in Reporting.— The Director may consolidate or adjust the frequency and due dates of any statutorily required reports under subsections (a) and (b) only after— (1) consultation with the Chairman of the Senate Committee on Governmental Affairs and the Chairman of the House of Representatives Committee on Government Operations; and (2) written notification to the Congress, no later than February 8 of each fiscal year covered under subsection (b) for those reports required to be submitted during that fiscal year.