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Week Ending September 15, 2006

S.2590 A bill to require full disclosure of all entities and organizations receiving Federal funds.
 

The bill requires that the Office of Management and Budget create a single, searchable, publicly accessible Website that will allow for an easy search for the total amount of federal funding awarded to an entity by fiscal year. OMB must create and launch a pilot program by July 1, 2007 with the completed site launched by January 1, 2008.

Awards includes grants, contracts, subgrants, subcontracts, loans, awards, cooperative agreements, purchase orders, task orders, delivery orders and other forms of financial assistance.

Sub-awards, those secondary recipients of award money would be listed by entities with a gross income over $300,000.

A Senate amendment to the bill excluded individual transactions under $25,000 and credit card transactions before October 8, 2005. The amendment was passed by Unanimous Consent September 13, 2006.

The site will list entities receiving Federal awards, the amount of the award, the transactions type, funding agency, source of the award along with the purpose of each funding action. The recipient would be identified by name, and location including a foreign country location. Awards listed will include FY 2007 awards and those thereafter.

Recipients would be listed as profit or non-profit and would include corporations, associations, partnerships, limited liability companies. Sole proprietorship; an other legal business entity or any other grantee or contractor that is not an individual recipient of Federal assistance or a Federal employee.

Awards involving classified matters would not be disclosed.

Sponsor: Senator Tom Coburn (R-OK)

Vote: Passed Senate by Unanimous Consent Sept. 7, 2006. Passed House September 14, 2006 by voice vote.

Cost to the taxpayers: “CBO estimates that implementing S. 2590 would cost $4 million in 2007 and about $15 million over the 2007-2011 period”

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