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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.
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.