Government Information Transparency Act

Bill: 111-hr-2392
Sponsor: Rep. Issa, Darrell E. [R-CA-49]
Introduced: 2009-05-13 in the House
Policy area: Government Operations and Politics
Subjects: Accounting and auditing
Administrative law and regulatory procedures
Business records
Congressional oversight
Government information and archives
Office of Management and Budget (OMB)

Summary:
action_date: 2009-05-13
text: 
Government Information Transparency Act - Requires the Director of the Office of Management and Budget (OMB), acting through the Office of Information and Regulatory Affairs, to prepare and disseminate to executive agencies guidance documents regarding best practices to: (1) provide for the federal government to standardize the collection, analysis, and dissemination of business and financial information regarding business activities of companies through the use of a single data standard known as eXtensible Business Reporting Language; (2) require the use of that standard to establish common definitions and structures that will maximize the comparability and interoperability of data collected and held by such agencies; and (3) provide for continued upgrading and maintenance of such common definitions and structures to remain current and of maximum utility as technologies and industry- or agency-specific content evolve.
 
Requires each agency head to: (1) establish procedures for accomplishing such purposes; and (2) ensure that the information collected under the standard is accessible to the public to the extent permitted by law.
 
Requires the Director to report to specified committees annually on the status of implementation of this Act.

action_date: 2009-07-30
text: 
Government Information Transparency Act - Requires the Director of the Office of Management and Budget (OMB) to adopt a single data standard for: (1) collection, analysis, and dissemination of business and financial information for use by private sector entities in accordance with this Act for information required to be reported to the federal government; and (2) use by agencies for federal financial information. 
 
Requires the standard to: (1) be common across all agencies; (2) be a widely accepted, open source, nonproprietary, searchable, computer-readable format for business and financial data; (3) be consistent with and implement U.S. generally accepted accounting principles for federal financial accounting standards, industry best practices, and federal regulatory requirements; (4) improve the transparency, consistency, and usability of business and financial information; and (5) be capable of being continually upgraded. 
 
Requires the Director: (1) within 180 days, to issue guidance to agencies on the use and implementation of the single data standard for information required to be reported to agencies by the private sector; (2) within one year, to develop the single data standard required for use by federal agencies for federal financial information; and (3) within 18 months, to issue guidance to agencies on the use and implementation of the single data standard.
 
Directs each agency head to ensure that information collected using the single data standard is accessible to the general public.
 
Requires the Director, within one year, to submit to the House Committee on Oversight and Government Reform and the Senate Committee on Homeland Security and Government Affairs a report on the status of the implementation of this Act.


Legislative actions:
action_date: 2009-07-30
text: Placed on the Union Calendar, Calendar No. 133.
action_date: 2009-07-30
text: Reported (Amended) by the Committee on Oversight and Government. H. Rept. 111-239.
action_date: 2009-07-30
text: Reported (Amended) by the Committee on Oversight and Government. H. Rept. 111-239.
action_date: 2009-06-04
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2009-06-04
text: Committee Consideration and Mark-up Session Held.
action_date: 2009-05-13
text: Referred to the House Committee on Oversight and Government Reform.
action_date: 2009-05-13
text: Introduced in House
action_date: 2009-05-13
text: Introduced in House