On Tuesday, February 6, Representatives Jimmy Gomez (D-CA) and Virginia Foxx (R-NC) announced they plan to introduce legislation to extend the same requirements established by the Grant Reporting Efficiency and Agreements Transparency (GREAT) Act to federal contractors. If passed in its current form, the GREAT Act would require the Office of Management and Budget—along with other relevant stakeholders—to establish a standard system of classification and organization of data reported by grant recipients to federal agencies. Ideally, this would create a more searchable, transparent and user-friendly database of grant awards and awardees. The two representatives insisted this imposed federal contractors to report new data to the Office of Management and Budget but bring the submission of data into the 21st Century.

Source link: http://www.nextgov.com/analytics-data/2018/02/house-panel-passes-grant-reporting-bill-federal-contracting-could-be-next/145766/

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