‘‘(b) SPECIFIC FUNCTIONS.—The functions of the 
Board shall include each of the following: 
‘‘(1) Receiving, storing, and publicly dissemi-
nating all of the information that is reported to it 
under this Act. 
‘‘(2) Reviewing whether reporting under section 
3602 meets applicable standards and specifies the 
purpose of the Federal award and measures of per-
formance. 
‘‘(3) Auditing, investigating, or reviewing Fed-
eral funds to determine whether fraud, wasteful 
spending, poor contract or grant management, or 
other abuses are occurring and referring matters it 
considers appropriate for further investigation to the 
inspector general for the Executive agency that dis-
bursed the Federal funds. 
‘‘(4) Regularly auditing the quality of the data 
submitted to it under sections 3602 and 3603. 
‘‘(5) Standardizing common data elements and 
data reporting standards to foster transparency and 
accountability for Federal spending, as required by 
section 3611. 
‘‘(6) Reviewing whether there are appropriate 
mechanisms for interagency collaboration relating to 
Federal funds, including coordinating and collabo-
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rating to the extent practicable with the Inspectors 
General Council on Integrity and Efficiency estab-
lished by the Inspector General Reform Act of 2008 
(Public Law 110–409). 
‘‘(c) REPORT REQUIREMENTS.— 
‘‘(1) REPORTS.— 
‘‘(A) REGULAR REPORTS ON DATA QUAL-
ITY AUDITS.—The Board shall regularly submit 
to the President and Congress reports on its 
audits of the quality of the data submitted to 
it under sections 3602 and 3603. 
‘‘(B) SEMI-ANNUAL REPORTS ON ACTIVI-
TIES.—The Board shall submit semi-annual re-
ports to the President and Congress, summa-
rizing the activities and findings of the Board 
and the findings of inspectors general of Execu-
tive agencies. 
‘‘(C) REPORT
ON
SAVINGS.—Not later 
than five years after the effective date of this 
Act, the Board shall submit to the President, 
Congress, and the Comptroller General of the 
United States a report containing estimates of 
the direct and indirect cost savings to the 
Treasury achieved as a result of the Board’s ac-
tivities. 
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‘‘(2) PUBLIC AVAILABILITY.—The Board shall 
make all reports submitted under paragraph (1) 
publicly available contemporaneously online. 
‘‘(3) GAO EVALUATION.—Upon receipt of the 
report submitted by the Board under paragraph 
(1)(C), the Comptroller General shall conduct an 
evaluation of the report and submit the evaluation to 
Congress within six months after receipt of the re-
port, with such findings and recommendations as the 
Comptroller General considers appropriate. 
‘‘(d) RECOMMENDATIONS.— 
‘‘(1) IN GENERAL.—The Board shall make rec-
ommendations to Executive agencies on measures to 
prevent fraud, waste, and abuse relating to Federal 
funds. 
‘‘(2) RESPONSIVE REPORTS.—Not later than 30 
days after receipt of a recommendation under para-
graph (1), an Executive agency shall submit a report 
to the President, the congressional committees of ju-
risdiction, and the Board on whether the Executive 
agency agrees or disagrees with the recommenda-
tions and any actions the Executive agency will take 
to implement the recommendations. The Board shall 
make all reports submitted to it under this para-
graph publicly available contemporaneously online. 
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‘‘§ 3624. Powers 
‘‘(a) IN GENERAL.—The Board shall conduct audits, 
investigations, and reviews of spending of Federal funds 
and coordinate on such activities with the inspectors gen-
eral of the relevant Executive agency to avoid duplication 
and overlap of work. 
‘‘(b) AUDITS AND REVIEWS.—The Board may— 
‘‘(1) conduct its own independent audits, inves-
tigations, and reviews relating to Federal funds; and 
‘‘(2) collaborate on audits, investigations, and 
reviews relating to Federal funds with any inspector 
general of an Executive agency. 
‘‘(c) AUTHORITIES.— 
‘‘(1) 
AUDITS, 
INVESTIGATIONS, 
AND
RE-
VIEWS.—In conducting audits, investigations, and 
reviews, the Board shall have the authorities pro-
vided under section 6 of the Inspector General Act 
of 1978 (5 U.S.C. App.). Additionally, the Board 
may issue subpoenas to compel the testimony of per-
sons who are not Federal officers or employees and 
may enforce such subpoenas in the same manner as 
provided for inspector general subpoenas under sec-
tion 6 of the Inspector General Act of 1978 (5 
U.S.C. App.). 
‘‘(2) 
STANDARDS
AND
GUIDELINES.—The 
Board shall carry out the powers under paragraphs 
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(1) and (2) in accordance with section 4(b)(1) of the 
Inspector General Act of 1978 (5 U.S.C. App.). 
‘‘(d) CONTRACTS.—The Board may enter into con-
tracts to enable the Board to discharge its duties under 
this subtitle, including contracts and other arrangements 
for audits, studies, analyses, and other services with public 
agencies and with private persons, and make such pay-
ments as may be necessary to carry out the duties of the 
Board. 
‘‘(e) TRANSFER OF FUNDS.—The Board may trans-
fer funds appropriated to the Board for expenses to sup-
port administrative support services and audits, reviews, 
or other activities related to oversight by the Board of cov-
ered funds to any office of inspector general, the Office 
of Management and Budget, and the General Services Ad-
ministration. 
‘‘§ 3625. Employment, personnel, and related authori-
ties 
‘‘(a) SELECTION OF EXECUTIVE DIRECTOR.—On be-
half of the Board, the Chairperson shall appoint an Execu-
tive Director who shall be the chief executive officer of 
the Board and who shall carry out the functions of the 
Board subject to the supervision and direction of the 
Board. The position of Executive Director shall be a ca-
reer reserved position in the Senior Executive Service, as 
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that position is defined under section 3132 of title 5, 
United States Code. 
‘‘(b) ADMINISTRATIVE SUPPORT.—The General Serv-
ices Administration shall provide the Board with adminis-
trative support services, including the provision of office 
space and facilities. 
‘‘§ 3626. Rulemaking authority 
‘‘The Board shall promulgate regulations to carry out 
this chapter. 
‘‘§ 3627. Transfer of certain personnel 
‘‘(a) RECOVERY
ACCOUNTABILITY
AND
TRANS-
PARENCY BOARD EMPLOYEES.—The Chairperson or Ex-
ecutive Director, or both, shall identify employees of the 
Recovery Accountability and Transparency Board for 
transfer to the Board, and such identified employees shall 
be transferred to the Board for employment. 
‘‘(b) PAY.— 
‘‘(1) Except as provided in paragraph (2), each 
transferred employee shall, during the 2-year period 
beginning on the effective date of this Act, receive 
pay at a rate equal to not less than the basic rate 
of pay (including any geographic differential) that 
the employee received during the pay period imme-
diately preceding the date of transfer. 
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‘‘(2) Paragraph (1) does not limit the right of 
the Board to reduce the rate of basic pay of a trans-
ferred employee for cause, for unacceptable perform-
ance, or with the consent of the employee. 
‘‘(3) Paragraph (1) applies to a transferred em-
ployee only while that employee remains employed by 
the Board. 
‘‘§ 3628. Authorization and availability of appropria-
tions 
‘‘(a) AUTHORIZATION OF APPROPRIATIONS.—There 
is authorized to be appropriated $51,000,000 for each of 
fiscal years 2012, 2013, 2014, 2015, 2016, 2017, and 
2018 to carry out the functions of the Board. 
‘‘(b) AVAILABILITY OF APPROPRIATIONS.—If the Re-
covery Accountability and Transparency Board has unobli-
gated appropriations as of the effective date of this chap-
ter, such appropriations shall remain available to the 
Board until September 30, 2015.’’. 
SEC. 202. CONFORMING AMENDMENT RELATING TO COM-
PENSATION OF CHAIRPERSON. 
Section 5314 of title 5, United States Code, is 
amended by adding at the end the following new item: 
‘‘Chairperson of the Federal Accountability and 
Spending Transparency Board.’’. 
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SEC. 203. AMENDMENTS AND REPEAL OF RECOVERY AC-
COUNTABILITY AND TRANSPARENCY BOARD. 
(a) CONFORMING
AMENDMENT
TO
NAME
OF 
BOARD.—Section 1501(a)(2) of the American Recovery 
and Reinvestment Act of 2009 (Public Law 111–5; 123 
Stat. 287) is amended by striking ‘‘Recovery Account-
ability and Transparency Board’’ and inserting ‘‘Federal 
Accountability and Spending Transparency Board’’. 
(b) CONFORMING AMENDMENTS TO SUBTITLE B OF 
PUBLIC LAW 111–5.—Subtitle B of such Act is amended 
by striking sections 1521, 1522, 1525(a), and 1529. 
(c) REPEAL OF SUBTITLE B OF PUBLIC LAW 111– 
5.—Effective on October 1, 2013, subtitle B of such Act 
is repealed. 
(d) REFERENCES IN FEDERAL LAW TO BOARD.—On 
and after the effective date of this Act, any reference in 
Federal law to the Recovery Accountability and Trans-
parency Board is deemed to be a reference to the Federal 
Accountability and Spending Transparency Board. 
TITLE III—ADDITIONAL 
PROVISIONS 
SEC. 301. CLASSIFIED INFORMATION. 
Nothing in this Act or the amendments made by this 
Act shall be construed to require the disclosure of classi-
fied information. 
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SEC. 302. PAPERWORK REDUCTION ACT EXEMPTION. 
Section 3518(c) of title 44, United States Code, is 
amended— 
(1) in paragraph (1), by striking ‘‘paragraph 
(2)’’ and inserting ‘‘paragraph (3)’’; 
(2) by redesignating paragraph (2) as para-
graph (3); and 
(3) by inserting after paragraph (1) the fol-
lowing new paragraph: 
‘‘(2) Notwithstanding paragraph (3), this sub-
chapter shall not apply to the collection of informa-
tion during the conduct of any audit, investigation, 
inspection, evaluation, or other review conducted by 
the Federal Accountability and Spending Trans-
parency Board, the Council of Inspectors General on 
Integrity and Efficiency, or any Federal office of In-
spector General, including any office of Special In-
spector General.’’. 
SEC. 303. MATCHING PROGRAM. 
Section 6(a) of the Inspector General Act of 1978 
(5 U.S.C. App.) is amended— 
(1) in paragraph (8), by striking ‘‘and’’; 
(2) by redesignating paragraph (9) as para-
graph (10); and 
(3) by inserting after paragraph (8) the fol-
lowing new paragraph: 
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‘‘(9) notwithstanding subsections (o), (p), (q), 
(r), and (u) of section 552a of title 5, United States 
Code, to compare, through a matching program (as 
defined in such section), any Federal records with 
other Federal or non-Federal records, while con-
ducting an audit, investigation, inspection, evalua-
tion, or other review authorized under this Act to 
identify weaknesses that may lead to to fraud, 
waste, or abuse and to detect improper payments 
and fraud; and’’. 
SEC. 304. TRANSFER OF CONSOLIDATED FEDERAL FUNDS 
REPORT. 
(a) TRANSFER OF FUNCTIONS.—The Federal Ac-
countability and Transparency Board and the Secretary 
of Commerce shall transfer the functions of the Consoli-
dated Federal Funds Report to the Web site or Web sites 
established under section 3612 of title 31, United States 
Code, as added by this Act. 
(b) INFORMATION.—The Board shall ensure that the 
Web site or Web sites established under such section 3612 
permits users to determine the following information: 
(1) For each fiscal year, the total amount of 
Federal funds that were obligated in each State, 
county or parish, congressional district, and munici-
pality of the United States. 
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(2) For each fiscal year, the total amount of 
Federal funds that were actually expended in each 
State, county or parish, congressional district, and 
municipality of the United States. 
(c) CONFORMING REPEALS OF SUPERSEDED PROVI-
SIONS.—Chapter 62 of subtitle V of title 31, United States 
Code, is repealed. The item relating to that chapter in the 
table of chapters at the beginning of subtitle V of such 
title is repealed. 
SEC. 305. REPEAL OF FEDERAL FUNDING ACCOUNTABILITY 
AND TRANSPARENCY ACT OF 2006. 
The Federal Funding Accountability and Trans-
parency Act of 2006 (Public Law 109–282; 31 U.S.C. 
6101 note) is repealed. 
SEC. 306. EFFECTIVE DATE. 
This Act and the amendments made by this Act shall 
take effect on October 1, 2011. 
Æ 
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