Section 1 Short title
This Act may be cited as the “Increasing Transparency and Accountability in Federal Spending Act”.
Increasing Transparency and Accountability in Federal Spending Act
A BILL
To expand reporting on subcontracts and subgrants made under Federal awards, and for other purposes.
Sec. 2 Expand reporting on subcontracts and subawards
In general— Section 2 of the Federal Funding Accountability and Transparency Act of 2006 (31 U.S.C. 6101 note) is amended—
in subsection (b)—
in paragraph (1)—
in the matter preceding subparagraph (A), by striking “Not later than January 1, 2008, the” and inserting “The”;
in subparagraph (F)(ii), by striking the period at the end and inserting a semicolon;
by redesignating subparagraph (G) as subparagraph (H); and
by inserting after subparagraph (F) the following:
“(G) the race, ethnicity, veteran status, and sex of the 5 most highly compensated officers of the entity; and”
in paragraph (2)—
by striking “The website” and inserting the following:
“(A) In general—Except as provided in subparagraph (B), the website”
by adding at the end the following:
“(B) Prime and subaward information—With respect to the information described in paragraph (1)(G), the website shall include data for each fiscal year beginning after the date of the enactment of this subparagraph.”
in subsection (g)(2)—
in subparagraph (B), by striking “; and” and inserting a semicolon;
in subparagraph (C), by striking the period at the end and inserting “; and”; and
by adding at the end the following:
“(D) the dollar amount of each subcontract and subgrant awarded under a Federal award with respect to which subsection (b)(1) applies by the recipient of such Federal award pursuant to a Federal law or regulation.”
Website update deadline— The Office of Management and Budget shall comply with the requirements under section 2(b)(1) of the Federal Funding Accountability and Transparency Act of 2006 (31 U.S.C. 6101 note), as amended by this section, not later than 180 days after the date of enactment of this Act.
Sec. 3 Federal acquisition regulation revisions
The Federal Acquisition Regulatory Council established under section 1302(a) of title 41, United States Code, shall consider and evaluate public comments on any regulations proposed pursuant to the amendments made by section 2 of this Act and promptly issue a final rule, if appropriate and consistent with applicable law.