[CAFR-Contacts-News] GREAT Act passes the U.S. House of Representatives

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

Yesterday, NASACT sent out an email which contained the following about the GREAT Act, which will impact state agencies with federal awards.

If you have any questions, please let me know.

Rob


GREAT ACT REINTRODUCED AND PASSES HOUSE WITH LITTLE FANFARE

The Grant Reporting Efficiency and Agreements Transparency (GREAT) Act<https://nasact.us12.list-manage.com/track/click?u=61c76c4b320bf504df577d7d7&id=0389000b9c&e=224cba0fa0> was awaiting action in the Senate when time ran out at the conclusion of the 115th session of Congress. Bill sponsor Virginia Foxx (R-NC) has reintroduced the GREAT Act (H.R. 150<https://nasact.us12.list-manage.com/track/click?u=61c76c4b320bf504df577d7d7&id=2f4dfd7bf5&e=224cba0fa0>), and the bill, which would establish government-wide data standards for information reported by grant recipients, was quickly presented on the House floor and passed by a vote of 422-0. The bill is now pending before the Senate Committee on Homeland Security and Government Affairs. The bill has bipartisan support and expected to pass the Senate once it is moved forward by the committee.

The GREAT Act directs the executive branch to adopt a standardized data structure for the information grantees must report to agencies by:

-- Requiring the creation of a comprehensive and standardized data structure, or “taxonomy,” covering all data elements reported by recipients of federal awards, including both grant and cooperative agreements.

-- Tasking the director of the U.S. Office of Management and Budget to designate a standard-setting agency with implementation.

  1.  Within one year: Establish government-wide data standards for information related to federal awards reported by recipients of federal awards.
  2.  Within two years: Issue guidance to grantmaking agencies on how to leverage new technologies and implement the new data standards into existing reporting practices with minimum disruption.
-- Requiring the adoption of unique and non-proprietary identifiers for federal awards and entities receiving federal awards.

-- Amending the Single Audit Act to provide for grantee audits to be reported in an electronic format consistent with the data standards.

-- Requiring the data standards to:

  1.  Render grant reports fully searchable, machine readable and non-proprietary.
  2.  Align with standards maintained by voluntary consensus bodies.
  3.  Be consistent with applicable accounting principles.
  4.  Incorporate the data standards already established for federal spending information under the Federal Funding Accountability and Transparency Act of 2006

  *   Publish grant reporting information, once transformed into open data, on a government-wide website, such as the existing grants.gov portal.

  *   Requiring each grantmaking agency to begin collecting grant reports using the new data standards within three years.”
​NASACT will keep members apprised as the bill continues moving through the legislative process.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://omls.oregon.gov/pipermail/cafr-contacts-news/attachments/20190129/2814d8cc/attachment.html>