Sec. 15011. Reporting on use of funds
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In this section— the terms agency , appropriate congressional committees , Committee , covered funds , and Coronavirus response have the meanings given those terms in section 15010; the term covered recipient — means any entity that receives large covered funds; and includes any State, the District of Columbia, and any territory or possession of the United States; and the term large covered funds means covered funds that amount to more than $150,000. On a monthly basis until September 30, 2021, each agency shall report to the Director of the Office of Management and Budget, the Bureau of Fiscal Service in the Department of the Treasury, the Committee, and the appropriate congressional committees on any obligation or expenditure of large covered funds, including loans and awards.
Not later than 90 days after the date of enactment of this Act, each agency shall submit to the Committee a plan describing how the agency will use covered funds. Not later than 10 days after the end of each calendar quarter, each covered recipient shall submit to the agency and the Committee a report that contains— the total amount of large covered funds received from the agency; the amount of large covered funds received that were expended or obligated for each project or activity; a detailed list of all projects or activities for which large covered funds were expended or obligated, including— the name of the project or activity; a description of the project or activity; and the estimated number of jobs created or retained by the project or activity, where applicable; and detailed information on any level of subcontracts or subgrants awarded by the covered recipient or its subcontractors or subgrantees, to include the data elements required to comply with the Federal Funding Accountability and Transparency Act of 2006 ( 31 U.S.C. 6101 note) allowing aggregate reporting on awards below $50,000 or to individuals, as prescribed by the Director of the Office of Management and Budget.
Not later than 30 days after the end of each calendar quarter, the Committee, in consultation with the agency that made large covered funds available to any covered recipient shall make the information in reports submitted under paragraph
(2)publicly available by posting the information on the website established under section 15010(g). Each agency, in coordination with the Committee and the Director of the Office of Management and Budget shall provide user-friendly means for covered recipients to meet requirements of this subsection. Federal agencies may use existing mechanisms to ensure that information under this subsection is reported accurately. The Director of the Office of Management and Budget, in consultation with the Secretary of the Treasury, the Administrator of the Small Business Administration, and the Chairperson of the Council of Economic Advisors, shall submit to the appropriate congressional committees and publicly release on the website established under section 15010(g) quarterly reports that detail the impact of programs funded through large covered funds on employment, estimated economic growth, and other key economic indicators, including information about impacted industries. The first report submitted under paragraph
(1)shall be submitted not later than 45 days after the end of the first full quarter following the date of enactment of this Act. The last report required to be submitted under paragraph
(1)shall apply to the quarter in which the Committee terminates.
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Sec. 15011
Reporting on use of funds
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