COST Act of 2023

To require the disclosure of information relating to the cost of programs, projects, or activities carried out using Federal funds. 1. Short title This Act may be cited as the Cost Openness and Spending Transparency Act of 2023 COST Act of 2023 2. Disclosure requirements for Federal funds (a) In general Subchapter III of chapter 13 1356. Disclosure requirements for Federal funds (a) Definition In this section, the term agency (1) an Executive agency, as defined in section 105 of title 5; and (2) an independent regulatory agency, as defined in section 3502 of title 44. (b) Disclosure requirements An agency and an individual or entity (including a State or local government and a recipient of a Federal research grant) carrying out a program, project, or activity that is, in whole or in part, carried out using Federal funds shall clearly state in any statement, press release, request for proposals, bid solicitation, or other document describing the program, project, or activity, other than a communication containing not more than 280 characters— (1) the percentage of the total costs of the program, project, or activity which will be financed with Federal funds; (2) the dollar amount of the Federal funds made available for the program, project, or activity; and (3) the percentage of the total costs of, and dollar amount for, the program, project, or activity that will be financed by nongovernmental sources. (c) Certification An individual or entity carrying out a program, project, or activity that is, in whole or in part, carried out using Federal funds shall, as part of the performance progress reporting regarding the program, project, or activity, include a certification indicating whether the individual or entity complied with the disclosure requirements. (d) Compliance review The Director of the Office of Management and Budget shall annually— (1) review a random sampling of public communications issued by agencies and recipients of Federal funds for compliance with the disclosure requirements under subsection (b); and (2) make publicly available the findings of the review under paragraph (1). (e) Public reporting Not later than 1 year after the date of enactment of this section, the Director of the Office of Management and Budget shall make available to the public a mechanism to anonymously report communications that do not comply with the disclosure requirements under subsection (b), which shall require that such a report include— (1) the noncompliant communication or, if publicly available, the location of the noncompliant communication; and (2) identifying information regarding the program, project, or activity that is, in whole or in part, carried out using Federal funds. . (b) Technical and conforming amendment The table of sections for subchapter III of chapter 13 1356. Disclosure requirements for Federal funds. .

Summary: Cost Openness and Spending Transparency Act of 2023 or the COST Act of 2023 This bill requires recipients of federal funds to disclose financing information relating to programs, projects, or activities carried out using such funds. Specifically, such a recipient (including a state or local government or a recipient of a federal research grant) must clearly state in any press release, request for proposals, bid solicitation, or other document describing the activity the amount and percentage of federal funding and the amount and percentage of nongovernmental funding. An individual or entity carrying out a program, project, or activity that is carried out using federal funds must, as part of the performance progress reporting, include a certification indicating whether the individual or entity complied with the disclosure requirements. The Office of Management and Budget (OMB) must annually review a random sampling of public communications issued by agencies and recipients of federal funds for compliance with the disclosure requirements, and make publicly available the findings of the review. The OMB must make available to the public a mechanism to anonymously report communications that do not comply.