Increasing Transparency and Accountability in Federal Spending Act

Section 2 of the Federal Funding Accountability and Transparency Act of 2006 (31 U.S.C. 6101 note) is amended—

(1) in subsection (b)—

(A) in paragraph (1)—

(i) in the matter preceding subparagraph (A), by striking Not later than January 1, 2008, the and inserting The;

(ii) in subparagraph (F)(ii), by striking the period at the end and inserting a semicolon;

(iii) by redesignating subparagraph (G) as subparagraph (H); and

(iv) by inserting after subparagraph (F) the following:; and

(G) the race, ethnicity, veteran status, and sex of the 5 most highly compensated officers of the entity; and

(B) in paragraph (2)—

(i) by striking The website and inserting the following:; and

Except as provided in subparagraph (B), the website

(ii) by adding at the end the following:; and

With respect to the information described in paragraph (1)(G), the website shall include data for each fiscal year beginning after the date of the enactment of this subparagraph.

(2) in subsection (g)(2)—

(A) in subparagraph (B), by striking; and and inserting a semicolon;

(B) in subparagraph (C), by striking the period at the end and inserting; and; and

(C) by adding at the end the following:

(D) the dollar amount of each subcontract and subgrant awarded under a Federal award with respect to which subsection (b)(1) applies by the recipient of such Federal award pursuant to a Federal law or regulation.

The Office of Management and Budget shall comply with the requirements under section 2(b)(1) of the Federal Funding Accountability and Transparency Act of 2006 (31 U.S.C. 6101 note), as amended by this section, not later than 180 days after the date of enactment of this Act.