Sec. 3. Grant oversight and prioritization
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/bill/117/hr/4568/ih/section-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5003 of the American Rescue Plan Act of 2021 ( 15 U.S.C. 9009c ; Public Law 117–2 ), is amended— in subsection (c)— in paragraph (2), by adding at the end the following new subparagraphs: The Administrator shall review and process applications in the order in which they are received. The Administrator shall impose requirements on applicants for the purpose of reducing waste, fraud, and abuse. ; and in paragraph (3)(A), by striking The Administrator may take and all that follows through the period at the end; and by adding at the end the following new subsections:
Not later than 45 days after the date of enactment of this subsection, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives an oversight and audit plan that details the policies and procedures of the Administrator for conducting oversight and an appropriate level of audits with respect to grants made under this section, which shall include the metrics used to determine which grants to audit.
Not later than 60 days after the date of enactment of this subsection, and each month thereafter until the date that is 1 year after the date on which all amounts appropriated under subsection (b)(2) have been expended, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the oversight and audit activities carried out by the Administrator with respect to grants made under this section, which shall include for the period covered by the report— the number of grants approved and disbursed; the amount of grant funds received by each recipient; the number of active investigations and audits of grants being conducted; the number of completed investigations and audits of grants, including a description of any findings of fraud or other material noncompliance; and any substantial changes made to the oversight and audit plan submitted under paragraph (1).
The Administrator shall ensure that each report submitted pursuant to paragraph
(2)is free from any identifiable or proprietary information of a grant recipient. .
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