Budget and Accounting Transparency Act of 2014

[AI summary unavailable — showing source text] Budget and Accounting Transparency Act of 2013 - Amends the Federal Credit Reform Act of 1990 (FCRA) (title V of the Congressional Budget Act of 1974 [CBA]) to revise the budgetary treatment of federal direct loans and loan guarantees to account for them on a fair value basis (currently, a FCRA accrual basis). Requires the President's budget from FY1992 on to reflect the Treasury discounting component of direct loan and loan guarantee programs. Defines the "Treasury discounting component" as the estimated long-term cost to the federal government of a direct loan or loan guarantee (or modification) calculated on a net present value basis, excluding administrative costs and any incidental effects on governmental receipts or outlays. Revises other requirements for the President's budget, beginning with FY2015, including conditions for new direct loans or loan guarantee commitments. Requires new budget authority for such loans or loan guarantee commitments to be provided in advance in an appropriation Act. Exempts a direct loan or loan guarantee program that constitutes an entitlement (such as the guaranteed student loan program or the veteran's home loan guaranty program), a…