SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Website for American Taxpayers to 
Check and Help Deter Out-of-control Government Spending Act'' or 
``WATCHDOGS Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Agency.--The term ``agency'' means an Executive agency 
        as defined under section 105 of title 5, United States Code.
            (2) Contractor entity.--The term ``contractor entity'' 
        means any entity that receives Federal funds as a general 
        contractor or subcontractor at any tier in connection with a 
        Federal contract.
            (3) Covered entity.--The term ``covered entity'' means any 
        entity that receives Federal funds--
                    (A) through a grant or loan, except--
                            (i) a grant or loan under entitlement 
                        authority; or
                            (ii) a loan designated by the Office of 
                        Management and Budget under section 2(a)(3); or
                    (B) under a statutory provision that directly 
                references the entity receiving Federal funds, 
                including any appropriations Act (or related committee 
                or conference report) that specifically identifies the 
                entity.
            (4) Entitlement authority.--The term ``entitlement 
        authority'' has the meaning given under section 3 of the 
        Congressional Budget and Impoundment Control Act of 1974 (2 
        U.S.C. 622).
            (5) Entity.--The term ``entity''--
                    (A) includes any State or local government; and
                    (B) shall not include the Federal Government.

SEC. 3. DISCLOSURE BY ENTITIES.

    (a) Office of Management and Budget.--The Office of Management and 
Budget--
            (1) shall issue a Federal funds application number to each 
        covered entity or contractor entity that applies for such 
        number, except that if more than 1 covered entity or contractor 
        entity share a single tax identification number, only 1 Federal 
        funds application number shall be issued for those covered 
        entities or contractor entities;
            (2) shall develop and establish an updated searchable 
        database website accessible to the public of the information 
        on--
                    (A) each covered entity required to be submitted 
                under subsection (b)(3), including links to other 
                websites described under subsection (b)(3); and
                    (B) each contractor entity required to be submitted 
                under subsection (c)(3);
            (3) may promulgate regulations to designate loan programs 
        which are not covered by this Act if--
                    (A) the Federal funds under that program are 
                received only by individuals; and
                    (B) the agency administering the program exercises 
                minimal discretion in determining recipients other than 
                the application of specific criteria of eligibility; 
                and
            (4) after consultation with agencies, promulgate 
        regulations to provide exemptions for disclosures of 
        information, covered entities, and contractor entities in the 
        interest of national defense or national security.
    (b) Requirements for Covered Entities.--Each covered entity shall--
            (1) apply to the Office of Management and Budget for a 
        Federal funds application number;
            (2) use the Federal funds application number in any 
        application or other document relating to the receipt of 
        Federal funds; and
            (3) not later than 45 days before the end of each fiscal 
        year, file a report with the Office of Management and Budget 
        that includes--
                    (A) the dollar amount, of any Federal funds 
                received by the entity in the previous 5 years and the 
                identification of such amounts in each year, including 
                an identification of the source of funds from programs 
                based on the Catalogue of Federal Assistance, if 
                applicable;
                    (B) the entity's--
                            (i) primary office and any additional 
                        offices;
                            (ii) the tax status; and
                            (iii) tax identification number;
                    (C) the full name, address, and social security 
                numbers of each officer and director of the entity;
                    (D) an overall annual financial disclosure 
                statement for the previous year (with specific amounts 
                for total lobbying expenses, travel expenses, rent, 
                salaries, and decorating expenses);
                    (E) the full name, address, and social security 
                number of each employee making more than $50,000 each 
                year in gross income;
                    (F) any links to the website of the covered entity 
                providing additional information on that covered 
                entity; and
                    (G) any other relevant information the Office of 
                Management and Budget may require.
    (c) Requirements for Contractor Entities.--Each contractor entity 
shall--
            (1) apply to the Office of Management and Budget for a 
        Federal funds application number;
            (2) use the Federal funds application number in any 
        application or other document relating to the receipt of 
        Federal funds; and
            (3) not later than 45 days before the end of each fiscal 
        year, file a report with the Office of Management and Budget 
        that includes--
                    (A) the dollar amount, of any Federal funds 
                received by the entity in the previous 5 years and the 
                identification of such amounts in each year, including 
                an identification of the source of funds from programs 
                based on the Catalogue of Federal Assistance, if 
                applicable; and
                    (B) the entity's--
                            (i) primary office and any additional 
                        offices;
                            (ii) the tax status; and
                            (iii) tax identification number.
    (d) Federal Agencies.--Each agency shall--
            (1) use the Federal funds application number with respect 
        to any document relating to a covered entity or contractor 
        entity receiving Federal funds, including applications, 
        correspondence, contracts, memoranda, proposals, agreements, 
        and receipts; and
            (2) make such information relating to covered entities or 
        contractor entities and such documents available to the Office 
        of Management and Budget as the Office may require.
    (e) Application of Certain Federal Laws to Covered Entities and 
Contractor Entities.--
            (1) In general.--Notwithstanding any other provision of 
        law, the provisions of law described under paragraph (2) shall 
        apply to a covered entity or contractor entity to the greatest 
        extent practicable as though that covered entity or contractor 
        entity is a Federal agency, if 10 percent of the business 
        expenditures or annual budget of a covered entity or contractor 
        entity is derived by or from Federal funds.
            (2) Applicable laws.--The provisions of law referred to 
        under paragraph (1) are--
                    (A) section 552 of title 5, United States Code 
                (commonly referred to as the Freedom of Information 
                Act); and
                    (B) subchapter I of chapter 57 of title 5, United 
                States Code (relating to travel and subsistence 
                expenses and mileage allowances).
    (f) Regulations.--The Office of Management and Budget shall 
promulgate regulations to carry out this Act.
    (g) Effective Dates.--
            (1) In general.--This Act shall take effect on January 1, 
        2007.
            (2) Regulations.--Subsection (f) shall take effect on the 
        date of enactment of this Act.
Output: Website for American Taxpayers to Check and Help Deter Out-of-control Government Spending Act or WATCHDOGS Act - Defines: (1) a "contractor entity" as any entity that receives federal funds as a general contractor or subcontractor at any tier in connection with a federal contract; and (2) "covered entity" as any entity that receives federal funds through a grant or loan, with exceptions. Requires each contractor entity and covered entity to: (1) apply to the Office of Management and Budget (OMB) for a federal funds application number; and (2) annually provide OMB with specified information.

Directs OMB to: (1) issue a federal funds application number to each covered entity or contractor entity that applies for such number; (2) develop and establish a publicly accessible searchable database website of information on each covered entity and contractor entity; (3) promulgate regulations to designate, as specified, loan programs not covered by this Act; and (4) provide for information disclosure exemptions in the interest of national defense or national security.

Requires each federal agency to: (1) use the federal funds application number with respect to any document relating to a covered entity or contractor entity receiving federal funds; and (2) make such information relating to covered entities or contractor entities available to OMB as OMB may require.