COST Act

Bill: 117-s-760
Sponsor: full_name: Sen. Ernst, Joni [R-IA]
Introduced: 2021-03-16
Policy area: Government Operations and Politics
Subjects: Executive agency funding and structure

Government information and archives

Public contracts and procurement

Research administration and funding

State and local government operations
Latest action: action_date: 2021-03-16
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Summaries:
action_date: 2021-03-16
action_desc: Introduced in Senate
text: <p><b>Cost Openness and Spending Transparency Act of 2021 or the COST Act</b></p> <p>This bill requires recipients of federal funds to disclose financing information relating to programs, projects, or activities carried out using such funds.</p> <p>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.</p> <p> If the Office of Management and Budget determines that a recipient is failing to comply, it may direct each agency providing federal funds to withhold up to 25% of the funds until the recipient complies. </p>

tv_txt: II 117th CONGRESS 1st Session S. 760 IN THE SENATE OF THE UNITED STATES March 16, 2021 Ms. Ernst (for herself, Mr. Scott of Florida , Mr. Paul , and Mr. Braun ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To require recipients of Federal funds to disclose information relating to programs, projects, or activities carried out using the Federal funds.

1. Short title This Act may be cited as the Cost Openness and Spending Transparency Act of 2021 or the COST Act . 2. Disclosure requirements for recipients of Federal funds (a) In general Subchapter III of chapter 13 of title 31, United States Code, is amended by adding at the end the following: 1356. Disclosure requirements for recipients of Federal funds (a) In general 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. (b) Noncompliance If the Director of the Office of Management and Budget determines that an individual or entity is failing to comply with subsection (a), the Director may direct the head of each agency providing Federal funds to the individual or entity to withhold not more than 25 percent of the amount of Federal funds that would otherwise be provided to the individual or entity, until the date on which the individual or entity complies with subsection (a). . (b) Technical and conforming amendment The table of sections for subchapter III of chapter 13 of title 31, United States Code, is amended by adding at the end the following: 1356. Disclosure requirements for recipients of Federal funds. .