“ IDENTIFICATION OF WASTEFUL REPORTS.— The President shall include in the first annual budget submitted pursuant to section 1105 of title 31, United States Code, after the date of enactment of this Act a list of reports that the President has determined are unnecessary or wasteful and the reasons for such determination. ”

“ TERMINATION.— (1) IN GENERAL.— Subject to the provisions of paragraph (2) of this subsection and subsection (d) , each provision of law requiring the submittal to Congress (or any committee of the Congress) of any annual, semiannual, or other regular periodic report specified on the list described under subsection (c) shall cease to be effective, with respect to that requirement, 4 years after the date of the enactment of this Act. (2) EXCEPTION.— The provisions of paragraph (1) shall not apply to any report required under— (A) the Inspector General Act of 1978 (5 U.S.C. App.) ”