Office of Management and Budget Authorization and Oversight Act

Office of Management and Budget Authorization and Oversight Act - States that no funds may be appropriated to carry out the functions of the Office of Management and Budget after September 30, 1977, unless authorized specifically for such functions by law. Authorizes such funds for the period ending March 31, 1981.

Requires the Director of the Office to keep the Congress currently informed with respect to all matters relating to the Office. Requires the Director to report to the Comptroller General within 120 days of the enactment of this Act the practices, procedures and management techniques utilized by the Office in performing its functions including: (1) its preparation and supervision of the budget; (2) advising the President regarding executive branch organization; and (3) evaluation of Federal program performance and management processes. Requires the Comptroller General to determine from such report the extent to which the purposes and intent of Reorganization Plan Numbered 2 of 1970, which established the Office in place of the Bureau of the Budget, are being carried out. Requires the Comptroller General to report his findings to Congress.