Increasing Transparency and Accountability in Federal Spending Act

Bill: 118-s-5507
Sponsor: full_name: Sen. Booker, Cory A. [D-NJ]
Introduced: 2024-12-12
Policy area: Government Operations and Politics
Latest action: action_date: 2024-12-12
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 5507 IN THE SENATE OF THE UNITED STATES December 12, 2024 Mr. Booker introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To expand reporting on subcontracts and subgrants made under Federal awards, and for other purposes.

1. Short title This Act may be cited as the Increasing Transparency and Accountability in Federal Spending Act . 2. Expand reporting on subcontracts and subawards (a) In general Section 2 of the Federal Funding Accountability and Transparency Act of 2006 ( 31 U.S.C. 6101 note) is amended— (1) in subsection (b)— (A) in paragraph (1)— (i) in the matter preceding subparagraph (A), by striking Not later than January 1, 2008, the and inserting The ; (ii) in subparagraph (F)(ii), by striking the period at the end and inserting a semicolon; (iii) by redesignating subparagraph (G) as subparagraph (H); and (iv) 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 ; and (B) in paragraph (2)— (i) by striking The website and inserting the following: (A) In general Except as provided in subparagraph (B), the website ; and (ii) 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. ; and (2) in subsection (g)(2)— (A) in subparagraph (B), by striking ; and and inserting a semicolon; (B) in subparagraph (C), by striking the period at the end and inserting ; and ; and (C) 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. . (b) 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. 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.