Legally Binding Budget Act of 2015
This bill amends the Congressional Budget Act of 1974 to replace the concurrent resolution on the budget required under current law with a legally binding joint resolution on the budget.
(Concurrent resolutions, which are currently used for congressional budget resolutions, address internal congressional matters, are not presented to the President for approval, and are not legally binding. A joint resolution is presented to the President after passing both chambers of Congress and has the force of law.)
At any time after the annual budget resolution has been enacted and before the end of the fiscal year, Congress and the President may enact a new budget resolution revising or reaffirming the most recently enacted budget resolution.
The contents of a budget resolution are limited to material that is permitted by the Congressional Budget Act of 1974. For purposes of congressional budget enforcement and the rules of the House and the Senate, the budget resolution is enforceable upon the earlier of enactment or 15 days following presentment to the President.